Jefferies Llc News

US-based tanker shipping company International Seaways (INSW) has completed the acquisition of six 300,000 dwt very large crude carriers (VLCCs) from Euronav NV. The tanker company providing energy transportation services for crude oil, petroleum products and liquefied natural gas announced in a press release that it has completed its previously announced acquisition of six 300,000 DWT VLCCs for a purchase price of $434 million, inclusive of assumed debt, from Euronav. The six vessels have an average age of two years and include five 2016-built VLCCs and one 2015-built VLCC, each constructed at Shanghai Waigaoqiao Shipbuilding Co. International…

Private equity firm Quantum Energy Partners will invest up to $1 billion in a new entity for acquisition and development of oil and gas assets that will be managed by Linn Energy LLC. Linn will be able to take a 15-50 percent direct working interest in the acquired assets, the two companies said in a joint statement on Monday. Linn's shares rose 4.5 percent in premarket trading, while its unit LinnCo LLC's shares were up 6.5 percent. The deal comes two months after Linn received funding of up to $500 million from GSO Capital Partners LP, a unit of Blackstone Group LP. Linn, like other oil and gas companies, has been struggling to cope with a 50 percent fall in crude oil prices since June. In response to weak prices, Linn cut its annual payout by more than half in January.

Star Bulk Carriers Corp. announced today that it plans to make an underwritten public offering of its common stock. The Company intends to use the net proceeds from the offering for its new building program and general corporate purposes. Jefferies LLC and Morgan Stanley & Co. LLC will act as joint book-running managers for the offering. The Company intends to grant the underwriters a 30-day option to purchase additional shares of its common stock. The offering is subject to market conditions, and there can be no assurance as to whether or when the offering may be completed, or the actual size or terms of the offering.

Oil and gas explorer and producer Samson Energy Company LLC is selling its offshore Gulf of Mexico assets that could fetch more than $1 billion, according to people familiar with the situation. The Tulsa, Oklahoma-based company has tapped Jefferies LLC, the New York-based investment bank, to assist with the sale effort, these people said, asking not be named because the talks are private. A representative for privately-held Samson confirmed Jefferies was working on a sale process for the portfolio of wells and leases, but declined to provide further details. A Jefferies representative declined to comment. The assets up for sale include a portfolio of federal leases as well as investments in wells operated by third parties, according to the people familiar with the matter.

Scorpio Bulkers Inc. announced today that it has further upsized and priced its previously announced offering of senior unsecured notes due 2019 in a registered public offering. The size of the offering has been further increased from the previously announced size of $60 million in aggregate principal amount of notes to $65 million in aggregate principal amount of Notes. The notes will mature on September 15, 2019 and may be redeemed in whole or in part at any time or from time to time after September 15, 2016.

Halcón Resources Corporation (NYSE: HK) ("Halcón"or the "Company") today provided an operational update related to its 314,000 net acre position in the Tuscaloosa Marine Shale ("TMS"). The Horseshoe Hill 11-22H-1 (92% WI) well in Wilkinson County, Mississippi, achieved a 24-hour average initial production rate of 1,208 barrels of oil per day and 1.1 million cubic feet per day of 1,551 BTU natural gas on a 19/64 inch choke. Based on gas composition analysis and assuming full ethane recovery, the Company estimates that the well would produce an additional 212 barrels of NGLs per day for a total 24-hour average initial production rate of 1,548 barrels of oil equivalent per day.

Greece-based chemical transportation company Stalwart Tankers Inc has postponed its U.S. IPO plans due to "market conditions," an underwriter told Reuters. The company filed with U.S. regulators in February to raise up to $100 million in an IPO of its common stock. Stalwart Tankers later said it expected to price its IPO of 12.5 million common shares at between $11 and $13 per share. The decision to postpone the IPO comes on the heels of Greece returning to the bond market on Thursday…

Baltic Trading Limited has successfully completed its previously announced public offering, issuing 12,650,000 new shares of common stock, which included the exercise in full of the underwriters' option to purchase up to 1,650,000 shares of common stock. Gross proceeds of the offering were approximately $58.2 million. Baltic Trading intends to use the net proceeds from the offering for future vessel acquisitions or, to the extent it does not so use them, for working capital and general corporate purposes. Jefferies LLC and Morgan Stanley & Co. LLC acted as joint book-running managers for the offering, and DVB Capital Markets LLC, Cowen and Company, LLC, and Clarkson Capital Markets LLC acted as co-managers for the offering.

Baltic Trading say they intend to use the net proceeds from the offering for future vessel acquisitions or as working capital and for general corporate purposes. Jefferies LLC and Morgan Stanley & Co. LLC are acting as joint book-running managers for the offering, and DVB Capital Markets LLC is acting as co-manager for the offering. Baltic Trading has filed a registration statement (including a prospectus and related preliminary prospectus supplement for the common stock offering) with the U.S. Securities and Exchange Commission for the offering to which this communication relates. Baltic Trading Limited is a drybulk company focused on the spot charter market. The companhy transports iron ore, coal, grain, steel products and other drybulk cargoes along global shipping routes.