Laredo Petroleum prices offering of $400M of senior notes
TULSA — Laredo Petroleum Inc. announced the pricing of $400 million in aggregate principal amount of 7.750% senior unsecured notes due 2029 at par in a private offering to eligible purchasers.
The company intends to use the net proceeds from the offering for general corporate purposes, including repaying the borrowings outstanding under the company’s senior secured credit facility. The offering was expected to close Friday, subject to customary closing conditions.
DZS FiberLAN Infrastructure selected for Asia’s first 'Luxury Tech Hub Hotel'
PLANO, Texas — DZS announced that the new six-star Dolce by Wyndham Hanoi Golden Lake Hotel in Hanoi, Vietnam, has selected the DZS FiberLAN solution to deliver a world-class hyper-connected experience to its guests.
Acclaimed as the first “luxury tech hub hotel” in Asia, the hospitality property will feature broadband, extensive Wi-Fi coverage and video and voices services throughout its facility.
Since the 420-room property opened last year, 100% of surveyed guests reported satisfaction with internet service performance.
The hotel also reported 38% operational cost savings versus a copper-based network. All hotel video, voice and data services are cloud-based and run over the DZS FiberLAN, minimizing complexity and downtime.
Axele TMS tops 5K users, 40K loads
DALLAS — Axele LLC announced that it closed out the first half of the year with over 5,200 users registered and 40,000 loads processed, plus an impressive increase in monthly recurring revenue of over 10 times since January.
In its first 90 days of commercialization last fall, Axele had added 1,000 users and 10,000 loads, and now, eight months in, is reflecting accelerated adoption by truckload carriers looking to automate transportation processes to improve workflow, streamline operations and generate more profitable loads.
Axele enhances the TMS with additional connections to loads boards, ELDs, maps, factoring solutions and accounting systems.
Penn Virginia announces agreement to acquire Lonestar Resources
HOUSTON — Penn Virginia Corp. and Lonestar Resources US Inc. announced that they have entered into a definitive merger agreement under which Penn Virginia will acquire Lonestar in an all-stock transaction.
Lonestar shareholders will receive 0.51 shares of common stock of Penn Virginia for each share of common stock of Lonestar outstanding. The transaction, which is expected to close in the second half of this year, has been unanimously approved by the boards of directors of both companies.
The closing of the transaction is subject to customary closing conditions, including the approval of Penn Virginia and Lonestar shareholders.
Shareholders holding about 80% of the voting power of Lonestar and approximately 60% of the voting power of Penn Virginia have executed binding support agreements committing them to vote their shares for the transaction.
Contango announces signing of agreement to acquire assets
FORT WORTH, Texas — Contango Oil & Gas Co. announced that it has entered into an agreement to acquire low decline, conventional gas assets in the Wind River Basin of Wyoming from ConocoPhillips.
The purchase and sale agreement provides that Contango will acquire approximately 446 Bcfe(1) of PDP reserves (unaudited) for a total purchase price of $67 million in cash, subject to customary purchase price adjustments.
Closing of the transaction is expected to occur in the third quarter, subject to the satisfaction of certain closing conditions.
The company intends to fund the purchase price with cash on hand and availability under its existing revolving credit facility.
Buchanan Technologies joins Fortinet’s partner program
GRAPEVINE, Texas — Buchanan Technologies announced that it has joined Fortinet’s Engage Partner Program.
Fortinet’s Engage Partner Program offers partners the flexibility to build solutions aligned with customer growth markets and deliver consumption models that drive successful business outcomes.
The Fortinet Security Fabric platform enables Buchanan Technologies to create value as customers embrace digital innovations for business agility, performance and simplicity. The cybersecurity platform provides full protection across the digital infrastructure and delivers visibility to every network segment, device and appliance.
The Fortinet Engage Partner Program maximizes the technology opportunity for partners by providing a flexible platform for partners to build their business and a security practice for customer success.
TestEquity now an authorized distributor for Megger Group
SOUTHLAKE, Texas — TestEquity announced that it is an authorized Megger distributor. TestEquity now stocks Megger insulation testers, ground testers, cable height meters, low resistance ohmmeters and multifunction rotating machine testers.
For over a century, Megger has developed electrical test instruments that customers have tried and tested for years.
A wide range of Megger’s testers are available through TestEquity’s website, as well as through their network of sales and service representatives.
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