BB&T Capital Markets Serves as an Underwriter on Emerge Energy Services, L.P.’s Follow-On Equity Offering

Transaction Summary

BB&T Capital Markets Equity Origination Group completed a transaction for a frac sand MLP in the second quarter of 2014, in an equity offering worth $383,388,215. This transaction represents a continued sale of the interests of the partnership’s private equity sponsor, Insight Equity.

About the Companies

Emerge Energy Services, L.P. engages in the mining and processing of frac sand, a component used in hydraulic fracturing of oil and natural gas wells. The partnership also engages in the refining of transmix, distribution of finished fuel products, terminal and reclamation activities, and refining of biodiesel.

About BB&T Capital Markets

BB&T Capital Markets offers an integrated platform of equity and debt underwriting, M&A advisory, corporate banking, equity research and sales and trading. Headquartered in Richmond, Va., with offices throughout the U.S., we have specific expertise within eleven distinct industry verticals including Aerospace, Defense & Government Services; Automotive Aftermarket; Commercial & Industrial; Financial Services; Food & Agribusiness; Logistics & Transportation Services; Healthcare; Education; Energy; Real Estate; and Retail & Consumer. Our commitment to industry expertise, combined with our resources as one of the nation's strongest financial institutions, strategically positions BB&T Capital Markets to build lasting relationships and contribute measurably to the long-term success of our clients.

  • Whiting Petroleum Corporation (NYSE: WLL)

    BB&T Capital Markets’ Energy Group completed a transaction for an oil & natural gas exploration & production company in the first quarter of 2015, in a convertible notes offering worth $1,250,000,000.

    The Company intends to use the net proceeds from this offering and the concurrent offerings to repay all or a portion of the amount outstanding under its credit facility and for general corporate purposes. Gross proceeds include the full-exercise of the underwriters’ overallotment option, through which they purchased an additional $250,000,000 in aggregate principal amount of notes.

    

    Read More
  • Noble Energy Inc. (NYSE: NBL)

    BB&T Capital Markets’ Energy Group completed a transaction for an oil & natural gas exploration & production company in the first quarter of 2015, in an equity offering worth $997,500,000. The Company intends to use the net proceeds from the offering to repay all borrowings under its credit facility and for general corporate purposes. The Company has granted the underwriters a 30-day option to purchase an additional 3,150,000 shares at the public offering price to cover over-allotments, if any.

    Read More
  • Macquarie Infrastructure Company LLC (NYSE: MIC)

    BB&T Capital Markets’ Energy Group completed a transaction for an energy infrastructure holding company in the first quarter of 2015, in an equity offering worth $425,000,000. The Company intends to use the net proceeds from the offering to finance the cash consideration for the acquisition of Bayonne Energy Center from ArcLight Capital Partners, and for general corporate purposes. The Company has granted the underwriters a 30-day option to purchase an additional 796,900 shares at the public offering price to cover over-allotments, if any.

    Read More
  • Southwestern Energy Company (NYSE: SWN)

    BB&T Capital Markets Energy Group completed a transaction for an oil & gas exploration and production company, in the first quarter of 2015, in a mandatory convertible preferred stock offering worth $1,500,000,000. The Company intends to use the net proceeds from the offering in conjunction with proceeds from a common equity offering, to repay amounts outstanding under the Company’s $4.5 billion bridge loan. This credit facility was established to fund the acquisition of Marcellus and Utica Shale assets from Chesapeake Energy Corp, a transaction that closed in December 2014. In connection with the offering, The Company expects to grant the underwriters a 30-day option to purchase up to 225,000 additional preferred shares.

    Read More
  • Southwestern Energy Company (NYSE: SWN)

    BB&T Capital Markets Energy Group completed a transaction for an oil & gas exploration and production company, in the first quarter of 2015, in a common equity offering worth $600,000,011. The Company intends to use the net proceeds from the offering in conjunction with proceeds from a concurrent mandatory convertible preferred shares offering, to repay amounts outstanding under the Company’s $4.5 billion bridge loan. This credit facility was established to fund the acquisition of Marcellus and Utica Shale assets from Chesapeake Energy Corp, a transaction that closed in December 2014. In connection with the offering, The Company expects to grant the underwriters a 30-day option to purchase up to 3,913,043 additional common shares.

    Read More
  • Arizona Public Service Company

    On January 7, 2015, BB&T Capital Markets served as a co-manager for a $250 million offering of 2.20% Senior Notes due 2020 by Arizona Public Service Co. Proceeds from the transaction are being used to repay amounts outstanding under the issuer’s commercial paper program. This deal represents BB&T’s first bond business with APS.

  • Western Gas Partners, LP (NYSE: WES)

    BB&T Capital Markets Energy Group completed a transaction for a gas gathering and processing MLP, in the fourth quarter of 2014, in an equity offering worth $531,375,000. The Partnership intends to use the net proceeds from the offering to fund a portion of the cash purchase price of the acquisition of Nuevo Midstream, LLC. In connection with the offering, The Partnership expects to grant the underwriters a 30-day option to purchase up to 1,125,000 additional common units.

    Read More
  • Martin Midstream Partners, LP. (NASDAQ: MMLP)

    BB&T Capital Markets Energy Group completed a transaction for a midstream hydrocarbon MLP in the third quarter of 2014, in an equity offering worth $127,339,500. The Partnership intends to use the net proceeds from the offering to repay outstanding indebtedness incurred under its revolving credit facility and for general partnership purposes. Total gross proceeds includes the full exercise of the underwriters’ over-allotment option, through which they purchased an additional 450,000 units.

    Read More
  • CONE Midstream Partners, LP. (NYSE: CNNX)

    BB&T Capital Markets Energy Group completed a transaction for a midstream MLP in the third quarter of 2014, in an equity offering worth $442,750,000. This transaction represents the sale of a portion of the Joint-Venture interests of the partnership’s financial sponsors: CONSOL Energy Inc. and Noble Energy Inc. Total gross proceeds includes the full exercise of the underwriters’ over-allotment option, through which they purchased an additional 2,625,000 units.

    Read More
  • Vanguard Natural Resources, LLC (NASDAQ GS: VNR)

    BB&T Capital Markets’ Debt & Equity Origination Groups completed a transaction for a natural gas & oil exploration & production company in the third quarter of 2014, helping to raise $100,000,000 in gross proceeds for our client. The Company has applied to list the perpetual preferred shares on the NASDAQ GS to trade under the symbol “VNRCP.” The Company intends to use the net proceeds from this offering to repay a portion of outstanding indebtedness under its credit facility, which was incurred in part to fund recent acquisitions, including the Hunt Gulf Coast Acquisition.

    Read More
  • Summit Midstream Partners, L.P. (NYSE: SMLP)

    BB&T Capital Markets Equity Origination Group completed a transaction for a natural gas midstream MLP in the third quarter of 2014, in an equity offering worth $234,260,865. This transaction represents a continued sale of the interests of the partnership’s majority owners, Energy Capital Partners and GE Energy Financial Services.

    Read More
  • Spark Energy Inc. (NASDAQ: SPKE)

    BB&T Capital Markets Equity Origination Group completed an IPO for a retail energy services provider in the third quarter of 2014, in an equity offering worth $54,000,000. This transaction represents the sale of interest of the company’s founder and sole proprietor. The company and its underwriters utilized the ‘Up-C’ corporate structure in the execution of the IPO.

    Read More
  • Emerge Energy Services, L.P. (NYSE: EMES)

    BB&T Capital Markets Equity Origination Group completed a transaction for a frac sand MLP in the second quarter of 2014, in an equity offering worth $383,388,215. This transaction represents a continued sale of the interests of the partnership’s private equity sponsor, Insight Equity.

    Read More
  • Cimarex Energy Company

    On May 20, 2014, BB&T Capital Markets served as a co-manager for a $750 million offering of senior unsecured notes by the Cimarex Energy Company. The 4.375% notes mature on June 1, 2024. Net proceeds from the sale will be used to repay in full amounts outstanding under Cimarex’s revolving credit facility and for general corporate purposes. The transaction represents the second debt offering to which Cimarex has invited BB&T Capital Markets.

    Read More
  • ONEOK Partners, L.P. (NYSE: OKS)

    BB&T Capital Markets Energy Group completed a transaction for a natural gas pipeline MLP in the second quarter of 2014, in an equity offering worth $736,660,100. The Partnership intends to use the net proceeds from the offering for general partnership purposes and to repay outstanding indebtedness under its commercial paper program. Total gross proceeds includes the full exercise of the underwriters’ over-allotment option, through which they purchased an additional 1,815,000 units.

    Read More
  • Martin Midstream Partners, LP. (NASDAQ: MMLP)

    BB&T Capital Markets Energy Group completed a transaction for a midstream hydrocarbon MLP in the second quarter of 2014, in an equity offering worth $149,436,000. The Partnership intends to use the net proceeds from the offering to repay outstanding indebtedness incurred under its revolving credit facility and for general partnership purposes. Amounts repaid under the revolving credit facility may be re-borrowed to fund future acquisitions.

    Read More