Baird served as a co-manager on this offering
AboutPacific Coast Oil Trust (the “Trust”) (NYSE: ROYT) recently completed a follow-on offering of 13,500,000 common units at a price of $17.10 per unit, generating gross proceeds of approximately $230.9 million. All of the units sold were sold by Pacific Coast Energy Company LP (“PCEC”), affiliates of Metalmark Capital, Greenhill Capital Partners and Wells Fargo Securities, and management. The Trust did not sell any units in connection with the offering and will not receive any proceeds from the offering.
The Trust was formed in January 2012 by PCEC to own net profits and an overriding royalty interest in certain oil and gas properties held by PCEC and located in California in the Santa Maria Basin and Los Angeles Basin.
PCEC engages in the production and development of oil and natural gas from the Orcutt properties located in California in the Santa Maria Basin and the East Coyote, Sawtelle and West Pico properties located in the Los Angeles Basin.
For additional information about this transaction, please contact:
- September 2013
- Pacific Coast Oil Trust
- Target Location
- North America