Date Announced: 05/29/2014
client: Extraction Oil & Gas, LLC
Status: Closed – 05/2014
Value: $850 million Read the case study
On May 29, 2014, Extraction Oil & Gas, LLC (“Extraction”), a Denver-based energy company focused on the exploration and production of oil and gas reserves in the Rocky Mountains, completed a $230 million HoldCo loan and $230 million of common equity units. In addition to this financing, Moelis & Company also secured commitments for Extraction from the same investor group for an additional $425 million of debt and equity financing. The debt and equity financing comes from a syndicate of top tier institutional investors including mutual funds, alternative investment managers, pension funds, endowments and funds-of-funds. Both the debt and equity financings were significantly oversubscribed, resulting in attractive terms for Extraction. This transaction demonstrates Moelis & Company’s ability to seamlessly execute a complex joint debt-and-equity capital markets transaction to meet the needs of our clients. Moelis & Company acted as exclusive financial advisor and placement agent to Extraction on the financing transactions.