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The notes were sold to the public at 98.335% of the face value to yield 8.875% to maturity.
Net proceeds will be utilised by the company for general corporate purposes, including funding a portion of the payment of the remaining drilling carry under its agreement with Chesapeake Energy Corporation.
Interest is payable on 15 April and 15 October of each year. The first interest payment will be made on 15 April 2010 and will consist of interest from closing to that date.
J.P. Morgan Securities Inc, Barclays Capital Inc, BMO Capital Markets Corp, Banc of America Securities LLC and Morgan Stanley & Co Inc are acting as book-running managers of the offering.
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