Hilcorp Energy to repay bank debt with note proceeds

New York, June 16 - Hilcorp Energy Co. plans to repay bank debt with proceeds from an offering of $200 million of 12-year senior notes.

The Houston-based company incurred the bank debt to fund acquisitions.

Privately held Hilcorp and was formed in 1988 to acquire and exploit producing oil and gas properties. Since its inception, Hilcorp has consummated over 300 acquisitions, generally seeking to acquire properties deemed non-strategic by large oil and gas companies yet still possessing significant profit and upside potential. Hilcorp Energy also owns gas processing and gas gathering facilities.

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