Harvest Energy Announces Capital Contribution

email Email  Print Print  
Mon, Feb 1, 2010
Oil Company News
Post by Researcher , Oil Researcher

Harvest Energy Trust (TSX:HTE.DB.B) (TSX:HTE.DB.D) (TSX:HTE.DB.E) (TSX:HTE.DB.F) (TSX:HTE.DB.G) and its 100 % owned subsidiary, Harvest Operations Corp.,reported that Korea National Oil Corporation has agreed to make an additional capital contribution to Harvest of approximately $465.7 million, the proceeds of which will initially be used to repay existing indebtedness.

The press release is quoted as saying:

Harvest, a wholly-owned subsidiary of KNOC, is a significant operator in Canada’s energy industry offering unitholders exposure to an integrated structure with upstream (exploration, development and production of crude oil and natural gas) and downstream (refining and marketing of distillate, gasoline and fuel oil) segments.

Click here to access the entire press release

Click here to access Harvest Energy Corporate Site

Questions about this article? Leave a comment below or contact our editorial team at editor@resourceinvestingnews.com.

Leave a Comment

What is Oil Investing News' Comment Policy?
Oil Investing News pre-moderates comments on our blog posts and post-moderates comments on news stories. We never censor comments based on political or ideological point of view. We only delete those comments that include the following transgressions:

  • Are abusive, off-topic, use excessive foul language
  • Include ad hominem attacks including comments that celebrate the death or illness of any person, public figure or otherwise
  • Contain racist, sexist, homophobic and other slurs
  • Are solicitations and/or advertising for personal blogs and websites
  • Thread spamming (you've posted this same comment elsewhere on the site)
  • Are posted with the explicit intention of provoking other commenters or the staff at Oil Investing News
  • Contains content that may infringe the copyright or intellectual property rights of others or other applicable laws or regulations.
Oil Price Chart
Asides