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Argent Accelerates Eagle Ford Ops; Talks Recent Deals

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Argent Accelerates Eagle Ford Ops; Talks Recent Deals

Argent Energy Trust has reported a bought deal equity offering for gross proceeds of approximately C$75 million, provide an operational update and provided increased production guidance.

The offering was made in connection to the company's most recent acquisition, which features properties in Kansas and Colorado as well as its exercised option for Eagle Ford deep rights.

The Offering

The Trust is pleased to announce that it has entered into an agreement with a syndicate of underwriters co-led by Scotiabank, CIBC and RBC Capital Markets, pursuant to which it will issue 7,360,000 trust units at a price of C$10.20 per Trust Unit on a bought deal basis for gross proceeds of approximately C$75 million.

The underwriters have also been granted an over-allotment option, exercisable for a period…

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