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Double Eagle prices stock offer


Published : Thu, 18 Jan 2007 18:42
By : Agencies
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CASPER, Wyo. (AFX) - Oil and gas exploration company Double Eagle Petroleum Co. said Thursday it is offering 450,000 shares of common stock for just under $9.7 million.

The offer, which amounts to $21.55 per share, also includes an overallotment option for the underwriters to buy an additional 50,000 shares. Proceeds from the offering are expected to total $10.2 million, including the overallotment, and will be used pay debt, the company said.

Ferris, Baker Watts Inc. is the sole underwriter on the offer.

Shares of Double Eagle were halted Thursday morning.

Copyright 2006 Associated Press. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.

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