Byron Energy Limited has raised US$17.4 million through a placement and an entitlement issue
Byron Energy Limited (Byron) has raised US$17.4 million through a placement and an entitlement issue. The proceeds will be used, together with a debt facility and ongoing cash flow, to undertake a drilling program at SM71 and at SM58. The raising comprised a US$9.6 million placement to institutional and professional investors, followed by an underwritten 1 for 18 entitlements issue to Byron's shareholders raising US$7.8 million, both at a price of 27 cents per share.
Byron operates as an independent oil and natural gas exploration business focused solely on the shallow waters offshore Louisiana in the Gulf of Mexico and, since it made a discovery on its SM71 lease in 2017, has been a producer, with revenues approaching US$40 million in 2019. Byron recently made a further and more significant discovery on its SM58 lease with substantial reserves and prospective resources.
Oaklins’ team in Australia advised Byron on the capital raising. The team had also advised Byron on all previous fundraisings over the past six years, since its ASX listing in 2013, totaling US$70 million.
Managing DirectorSydney, Australia
Byron Energy Limited has entered into a Promissory Note with Crimson Midstream for US$15million
Byron Energy Limited (Byron) has entered into a Promissory Note with Crimson Midstream Holdings LLC (Crimson) to finance the construction of a production platform.Per saperne di più
Calpam has been acquired by VARO Energy
VARO Energy (VARO) has signed an agreement to acquire 100% of the shares in SMD Beheer BV, including all of the business activities of Calpam BV. (together Calpam).
The closing of this transaction is anticipated to take place at the end of October 2019, subject to the approval of the Dutch competition authorities.
Airex Energy has raised capital to accelerate its growth
Airex Energy has raised capital to accelerate its growth.Per saperne di più