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Mergers & Acquisitions


Oil and Gas Companies - Forest Oil Announces Reaffirmation of Borrowing Base and Personnel Additions

  2012 MAY 9 - (VerticalNews.com) -- Forest Oil Corporation (NYSE:FST) (Forest or the Company) announced that its bank group has reaffirmed Forest's $1.25 billion borrowing base related to its credit facilities maturing in June 2016. The bank group continues to have $1.5 billion of commitments, and there were no changes in the terms or conditions of the credit facility.

  Forest further announced the addition of Douglas E. Brooks as Senior Vice President, Business Development and Larry C. Busnardo as Director, Investor Relations ...read more


Oil and Gas Companies - Clayton Williams Energy, Inc. Announces Completion of Mergers of Southwest Royalties Limited Partnerships

  2012 MAR 28 - (VerticalNews.com) -- Clayton Williams Energy, Inc. ("CWEI") (NASDAQ:CWEI) announced that on March 14, 2012, its wholly owned subsidiary, Southwest Royalties, Inc. ("SWR"), completed the previously announced mergers of each of the 24 limited partnerships of which SWR is the general partner ("SWR Partnerships") into SWR, with SWR continuing as the surviving entity in the mergers. At the effective time of the mergers, all of the units representing limited partnership interests in the SWR Partnerships, other than those held by SWR, were converted into the right to receive cash. SWR did not receive any cash payment for its partnership interests in the SWR Partnerships. However, as a result of the mergers, SWR acquired 100% of the assets and liabilities of the SWR Partnerships. SWR paid aggregate merger consideration of $38.6 million ...read more


Oil and Gas Companies - Clayton Williams Energy, Inc. Announces Results of Special Meetings of Limited Partners of Southwest Royalties Partnerships

  2012 MAR 21 - (VerticalNews.com) -- Clayton Williams Energy, Inc. ("CWEI") (NASDAQ:CWEI) announced that at a special meeting of limited partners held today, each of the 24 limited partnerships for which its wholly owned subsidiary, Southwest Royalties, Inc. ("SWR") serves as the general partner (the "SWR Partnerships") approved an agreement and plan of merger dated as of October 28, 2011, pursuant to which each SWR Partnership will merge into SWR, with SWR being the surviving entity in the merger. Upon consummation of the mergers, the limited partner interests in each of the SWR Partnerships, other than those held by SWR, will be converted into the right to receive cash. SWR will not receive any cash payment for its partnership interests in the SWR Partnerships. However, as a result of the mergers, SWR will acquire 100% of the assets and liabilities of the SWR Partnerships ...read more


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