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  1. Freeport LNG closes financing to construct third NG liquefaction train

    Freeport LNG Expansion LP ’s subsidiary, FLNG Liquefaction 3 LLC (FLIQ3), has closed on senior and mezzanine debt financing commitments of $4.56 billion in capital required for the construction of the third train of Freeport LNG's natural gas liquefaction and LNG loading facility on Quintana Island near Freeport, Texas. The construction cost for the combined three-train project is expected to be $12.5 billion, including owner's costs and interest during construction. An additional $3 billion in funds were raised for refinancing and acquisition costs associated with the existing LNG import facility, letters of credit facilities, and a special contingency fund.  With closing on financing, Freeport LNG has completed all milestones and issued a full notice to proceed to CB&I Inc., Zachry Industrial Inc., and Chiyoda International Corp. to construct the third train of the Freeport LNG liquefaction project. Full three-train operation is expected by the third quarter of 2019. LNG production from the first liquefaction train is expected in early 2018, with commercial operation of the first train expected to commence by the third quarter of 2018. Approximately $3.64 billion in senior debt financing for the third train is being provided by a syndicate of 27 commercial banks under a seven-year mini-perm construction facility. Approximately $925 million in equity financing for the third train is being provided through mezzanine debt financing. Freeport LNG will retain 100% equity ownership in FLIQ3 and the third liquefaction train. FLIQ3 has entered into 20-year liquefaction tolling agreements totaling 4.4 million tonnes per annum with SK E&S LNG LLC and Toshiba Corp. Macquarie Capital is serving as Freeport LNG's sole financial advisor with respect to the financing for the project. White & Case is serving as Freeport LNG's finance counsel. Twenty-seven project finance and investment banks are lending to the project, and Chadbourne & Parke served as lenders' counsel. Akin Gump Strauss Hauer & Feld represented SK E&S in the transaction. Toshiba Corp. is represented by Norton Rose Fulbright.

    Online Articles

    Online Articles

    Wed, 29 Apr 2015

  2. CCI pays $1B for certain East Texas assets from Anadarko Petroleum

    Castleton Commodities International LLC (CCI) has acquired the Carthage upstream and midstream assets in East Texas from subsidiaries of Anadarko Petroleum Corp. for over $1 billion.

    Online Articles

    Online Articles

    Fri, 18 Nov 2016

  3. Ullico provides $50 million in financing to Eagle Creek Renewable Energy for hydropower

    Labor-owned insurance and investment company Ullico Inc. has closed $50 million in financing for the Eagle Creek Renewable Energy hydropower portfolio.

    Online Articles

    Online Articles

    Tue, 11 Oct 2016

  4. Halcon Resources exits Tuscaloosa Marine Shale by moving position to partner

    Certain wholly-owned subsidiaries of Halcón Resources executed an agreement with an affiliate of Apollo Global Management pursuant to which the sellers assigned to the buyer 100% of the common shares of HK TMS LLC.

    Online Articles

    Online Articles

    Thu, 6 Oct 2016

  1. Southcross Holdings secures $210M commitment

    Online Articles

    Online Articles

    Fri, 7 Nov 2014

  2. Furie receives $160M commitment from Energy Capital Partners

    Furie Operating Alaska LLC, an independent oil and gas company, reports the completion of a $160 million investment commitment from Energy Capital Partners Mezzanine Opportunities Fund.

    Online Articles

    Online Articles

    Mon, 21 Jul 2014

  3. PSA cites air gap inconsistencies in rig damage study

    Petroleum Safety Authority Norway has completed an investigation into the incident late last year when the topsides of the mobile offshore unit COSLInnovator was struck by a wave.

    Online Articles

    Online Articles

    Mon, 11 Apr 2016

  4. Osbit supplies well intervention package for Helix vessel

    Osbit has delivered new well intervention equipment to Helix Energy Solutions for installation on the chartered vessel Siem Helix 1 in Schiedam, the Netherlands.

    Online Articles

    Online Articles

    Tue, 2 Aug 2016

  5. Hilcorp and Carlyle partner to acquire oil and gas properties

    Hilcorp Energy Co., a privately owned oil and gas exploration and development company, has established a newly formed partnership, Hilcorp Energy Development, LP, which seeks to acquire, operate, and develop onshore oil and natural gas properties and related assets in North America.

    Online Articles

    Online Articles

    Mon, 21 Dec 2015

  6. Tidewater Subsea charters Brandon Bordelon

    Tidewater Subsea has charted the Jones Act-compliant MV Brandon Bordelon for 60 days plus options.

    Online Articles

    Online Articles

    Fri, 15 Jan 2016

  7. HudsonField and AB form strategic financing partnership in oil and gas sector

    HudsonField LLC and AllianceBernstein’s (AB's) private middle-market lending platform have formed a new financing program for oil and gas operators in key North American production basins. HudsonField will serve as a strategic origination partner for financing opportunities in the North American ...

    Online Articles

    Online Articles

    Thu, 8 Oct 2015

  8. Vinson & Elkins adds Wommack to Finance Practice in Houston

    Vinson & Elkins has added to its Finance Practice Group with partner Trevor Wommack, who focuses his practice on syndicated lending in the energy sector. Wommack, who joins the firm from Bracewell, will be based in V&E’s Houston office.

    Online Articles

    Online Articles

    Tue, 26 Jan 2016

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