Encore Energy Partners LP Announces Pricing of Public Offering of 2.4 Million Common Units
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FORT WORTH, Texas--(Business Wire)--
Encore Energy Partners LP (NYSE:ENP) announced today that it has priced its
public offering of 2,400,000 common units representing limited partner interests
at a price of $15.60 per unit. Encore Energy Partners has granted the
underwriters a 30-day option to purchase up to an additional 360,000 common
units. The offering is expected to close on May 22, 2009. The net proceeds from
the offering are expected to be used to fund a portion of the purchase price of
the previously announced acquisitions in the Vinegarone Field in Val Verde
County, Texas and in the Williston Basin in Montana and North Dakota.
Barclays Capital Inc., Raymond James & Associates, Inc., RBC Capital Markets
Corporation and Wachovia Capital Markets, LLC will act as joint book-running
managers for the offering. When available, a copy of the prospectus supplement
and the accompanying prospectus relating to the offering may be obtained from
the following underwriters at the addresses set forth below:
Barclays Capital Inc.
c/o Broadridge, Integrated Distribution Services
1155 Long Island Avenue
Edgewood, NY 11717
Phone: (888) 603-5847
Email: Barclaysprospectus@broadridge.com
Raymond James & Associates, Inc.
800 Carillon Parkway
St. Petersburg, Florida 33716
Phone: (800) 248-8863
RBC Capital Markets Corporation
Three World Financial Center
200 Vesey Street, 8th Floor
New York, NY 10281-8098
Attention: Equity Syndicate
Phone: (212) 428-6670
Wachovia Capital Markets, LLC
Attn: Equity Syndicate Dept.
375 Park Avenue
New York, New York 10152
Email: equity.syndicate@wachovia.com
Phone: (800) 326-5897
This press release shall not constitute an offer to sell or the solicitation of
an offer to buy nor shall there be any sale of these securities in any state or
jurisdiction in which such offer, sale or solicitation would be unlawful prior
to registration or qualification under the securities law in any such state or
jurisdiction.The offering of common units may be made only by means of a
prospectus supplement and the accompanying prospectus.
Cautionary Statement
This press release includes forward-looking statements, which give ENP`s current
expectations or forecasts of future events based on currently available
information. Forward-looking statements in this press release relate to, among
other things, the closing of the offering and the use of proceeds therefrom.
Such statements are subject to a number of risks and uncertainties, including
those identified in "Item 1A. Risk Factors" of its most recent annual report on
Form 10-K and other filings with the Securities and Exchange Commission. If one
or more of these risks or uncertainties materialize (or the consequences of such
a development changes), or if underlying assumptions prove incorrect, actual
outcomes may vary materially from those forecasted or expected.
Encore Energy Partners LP, Fort Worth
Bob Reeves, 817-339-0918
rcreeves@encoreacq.com
or
Kim Weimer, 817-339-0886
kweimer@encoreacq.com
Copyright Business Wire 2009
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