Deals this week: SM Energy, Western Refining Logistics, Valero Energy

SM Energy Company has announced the pricing of senior notes to raise $500m in a public offering. The notes will yield 6.75% per year and mature on 15 September 2026.

Holland & Hart LLP and Mayer Brown LLP are the legal advisors to SM Energy for the offering, which is scheduled for closure on 12 September.

The amount raised from the offering is intended to be used by the company to partly fund the acquisition of Rock Oil Holdings LLC and for general corporate purposes.

Western Refining Logistics (WNRL) has agreed to acquire certain assets located in Minnesota, US, from St. Paul Park Refining (SPPR).

The deal implies a purchase consideration of $210m, which will be funded by WNRL through a combination of cash and issuance of common shares.

Scheduled for completion on or before 15 September, the transaction will allow WNRL to expand its assets base in the US.

Valero Energy Corporation has announced the pricing of a $1.25bn public offering of senior notes, which will yield 3.4% a year and mature on 15 September 2026.

BNP Paribas Securities, Credit Suisse Securities (USA), Lloyds Securities, Merrill Lynch, Pierce, Fenner & Smith, PNC Capital Markets, Scotia Capital (USA), SMBC Nikko Securities America, SunTrust Robinson Humphrey, TD Securities (USA), and US Bancorp Investments are the underwriters to Valero.

The offering will be closed on 12 September and the proceeds are intended to be used to fund general corporate purposes.

Callon Petroleum Company has agreed to acquire certain undeveloped acreage and producing oil and gas properties in Howard County of the Midland Basin, Texas, US, from Plymouth Petroleum LLC.

The $327m transaction will be paid in cash and funded by Callon Petroleum using the fund raised through an equity offering and revolving credit facility.

The net production from 16 vertical and nine horizontal wells in the properties is estimated to be approximately 2,300 barrels of oil equivalent a day (boed).

Callon Petroleum has retained RBC Richardson Barr as the financial advisor for the transaction, which is scheduled for completion on or before 20 October.

The deal will allow Callon Petroleum to extend its oil and gas assets portfolio in the Midland Basin, Texas.

Noble Midstream Partners has agreed to issue 12.5 million common units, priced between $19 and $21 each. The initial public offering (IPO) is anticipated to raise up to $237.5m.

Underwriters have a 30-day over allotment option to buy up to an additional 1.87 million units, which will be listed on New York Stock Exchange under the ticker symbol 'NBLX'.

The proceeds from the offering are intended to be used by the company for distribution to Noble Energy and for general partnership purposes.