Extraction Oil & Gas offers $750M in unsecured notes
DENVER — Extraction Oil & Gas Inc. (Nasdaq: XOG), an energy company active in Colorado’s Wattenberg Field, plans to sell $750 million in senior unsecured notes, 25 percent more than the $600 million it had announced earlier, the company said Thursday.
Extraction, which operates in Weld County and plans to drill in Broomfield, initially announced plans to sell $600 million in notes that will pay an interest rate of 5.62 percent. The notes will replace $550 million in outstanding senior notes that pay interest of 7.87 percent. Those notes were coming due in 2021.
Extraction has made a cash tender offer to buy out holders of the older notes, an offer that expires Jan. 24. The new notes become due in 2026.
SPONSORED CONTENT
How Platte River Power Authority is accelerating its energy transition
Platte River Power Authority, the community-owned wholesale electricity provider for Northern Colorado, has a history of bold initiatives.
DENVER — Extraction Oil & Gas Inc. (Nasdaq: XOG), an energy company active in Colorado’s Wattenberg Field, plans to sell $750 million in senior unsecured notes, 25 percent more than the $600 million it had announced earlier, the company said Thursday.
Extraction, which operates in Weld County and plans to drill in Broomfield, initially announced plans to sell $600 million in notes that will pay an interest rate of 5.62 percent. The notes will replace $550 million in outstanding senior notes that pay interest of 7.87 percent. Those notes were coming due in 2021.
Extraction has made a cash tender offer to…
THIS ARTICLE IS FOR SUBSCRIBERS ONLY
Continue reading for less than $3 per week!
Get a month of award-winning local business news, trends and insights
Access award-winning content today!