Russian company Yukos Oil Co. said it received a $50 million syndicated loan from a group of international banks. Yukos will use the loan to optimize its enterprises' borrowings, it said. The group of lenders includes Bank Austria Handelbank AG, Citibank, Commerzbank AG, Credit Lyonnaise, Natexis Banques Populaires, National Savings & Commercial Bank Ltd. (Budapest), and Standart Bank London Ltd.
Forest Oil Corp., Denver, Colo., said a new $600 million borrowing facility has been successfully syndicated, subject to the consummation of the merger between Forest and Forcenergy Inc. (OGJ Online, July 10, 2000). The new facility, scheduled to close in October, will be used to replace the existing borrowing facilities for both Forest and Forcenergy, said Forest.
OilfieldCapital.com of Scarsdale, NY, and Hartford, Conn.-based First International Bank, a subsidiary of First International Bancorp Inc., announced plans Thursday to jointly offer online financing to petroleum exploration and production companies that are users of OilfieldCapital.com. Under the agreement, First International Bank will offer 14 commercial and international credit products, up to $5 million for each transaction, to buyers and sellers involved in the exploration, development, production, and marketing of petroleum and other energy-related products and services.
Apache Corp., Houston, said it closed its previously announced $385 million acquisition of Occidental Petroleum Corp.'s interests in the Gulf of Mexico (OGJ Online, July 24, 2000). The properties contain 56.8 million boe of proven reserves.