Key Developments: Eagle Rock Energy Partners LP (EROC.O)
8.65USD
20 May 2013
$0.02 (+0.23%)
$8.63
$8.75
$8.87
$8.61
735,652
653,679
$10.58
$8.23
Latest Key Developments (Source: Significant Developments)
Eagle Rock Energy Partners Lp Announces First Quarter 2013 Cash Distribution
Eagle Rock Energy Partners Lp announced that it declared a cash distribution for the quarter ended March 31, 2013 of $0.22 per common unit, equivalent to $0.88 per unit on an annualized basis. This distribution is equal to the distribution paid for the fourth quarter 2012. The distribution will be paid on May 15, 2013, to unitholders of record as of the close of business on May 7, 2013. Full Article
Eagle Rock Energy Partners Lp Prices Public Offering Of Common Units
Eagle Rock Energy Partners Lp announced that it has priced an upsized underwritten public offering of 9,000,000 of common units representing limited partner interests at $9.31 per common unit. The upsized offering is expected to close on March 18, 2013. The Partnership has also granted the underwriters a 30-day option to purchase up to 1,350,000 additional common units. The Partnership intends to use the net proceeds of the offering, including the proceeds from any exercise of the option, to repay a portion of the outstanding borrowings under credit facility. RBC Capital Markets, BofA Merrill Lynch, Citigroup, UBS Investment Bank and Wells Fargo Securities are acting as joint book-running managers of the offering. Full Article
Eagle Rock Energy Partners Lp Announces Public Offering Of Common Units
Eagle Rock Energy Partners Lp announced that it has commenced, subject to market conditions, an underwritten public offering of 8,000,000 of its common units representing limited partner interests. The Partnership also intends to grant the underwriters a 30-day option to purchase up to 1,200,000 additional common units. The Partnership intends to use the net proceeds of the offering, including the proceeds from any exercise of the option, to repay a portion of the outstanding borrowings under its credit facility. RBC Capital Markets, BofA Merrill Lynch, Citigroup, UBS Investment Bank and Wells Fargo Securities will act as joint book-running managers of the offering. Full Article
Eagle Rock Energy Partners Lp Announces Fourth Quarter 2012 Cash Distribution
Eagle Rock Energy Partners Lp announced that it declared a cash distribution for the quarter ended December 31, 2012 of $0.22 per common unit, equivalent to $0.88 per unit on an annualized basis. This distribution is equal to the distribution paid for the third quarter 2012 and represents a 5% increase from the distribution paid for the fourth quarter of 2011. The distribution will be paid on February 14, 2013 to unitholders of record as of the close of business on February 7, 2013. Full Article
Eagle Rock Energy Partners L.P. Announces Third Quarter 2012 Cash Distribution
Eagle Rock Energy Partners L.P. announced that it declared a cash distribution for the quarter ended September 30, 2012 of $0.22 per common unit, equivalent to $0.88 per unit on an annualized basis. This distribution is equal to the distribution paid for the second quarter 2012 and represents a 10% increase from the distribution paid for the third quarter of 2011. The distribution will be paid on November 14, 2012 to unitholders of record as of the close of business on November 7, 2012. Full Article
Eagle Rock Energy Partners L.P. Announces Closing Of Public Offering Of Common Units
Eagle Rock Energy Partners L.P. announced that it has closed its underwritten public offering of 10,120,000 common units representing limited partner interests, which includes 1,320,000 common units purchased pursuant to the full exercise of the underwriters' option to purchase additional common units to cover over-allotments. The Partnership intends to use the approximately $84.5 million in net proceeds from the offering, after deducting underwriting discounts, commissions and offering expenses, to fund a portion of the consideration for the proposed acquisition of two of BP America Production Company's gas processing facilities in the Texas Panhandle and the associated gathering system (the "BP Acquisition"). Pending the application of the net proceeds to fund a portion of the consideration for the BP Acquisition, the Partnership intends to use the net proceeds to repay a portion of the outstanding borrowings under its credit facility. If the BP Acquisition is not consummated for any reason, the Partnership will use the net proceeds for general partnership purposes, including future acquisitions and capital program expenditures. UBS Investment Bank, BofA Merrill Lynch, Citigroup, RBC Capital Markets and Wells Fargo Securities acted as joint book-running managers of the offering. Full Article
Eagle Rock Energy Partners L.P. Prices Upsized Public Offering of Common Units
Eagle Rock Energy Partners L.P. announced that it has priced an upsized underwritten public offering of 8,800,000 of its common units representing limited partner interests at $8.72 per common unit. The upsized offering is expected to close on August 17, 2012, subject to customary closing conditions. The Partnership has also granted the underwriters a 30-day option to purchase up to 1,320,000 additional common units to cover over-allotments, if any. The Partnership intends to use the net proceeds of the offering, including the proceeds from any exercise of the over-allotment option, to fund a portion of the consideration for the proposed acquisition of two of BP America Production Company's gas processing facilities in the Texas Panhandle and the associated gathering system (the BP Acquisition). Pending the application of the net proceeds to fund a portion of the consideration for the BP Acquisition, the Partnership intends to use the net proceeds to repay a portion of the outstanding borrowings under its credit facility. If the BP Acquisition is not consummated for any reason, the Partnership will use the net proceeds for general partnership purposes, including future acquisitions and capital program expenditures. UBS Investment Bank, BofA Merrill Lynch, Citigroup, RBC Capital Markets and Wells Fargo Securities are acting as joint book-running managers of the offering. Full Article
Eagle Rock Energy Partners Lp Announces Public Offering Of Common Units
Eagle Rock Energy Partners Lp announced that has commenced, an underwritten public offering of 8,000,000 of common units representing limited partner interests. The Partnership also intends to grant the underwriters a 30-day option to purchase up to 1,200,000 additional common units to cover over-allotments. The Partnership intends to use the net proceeds of the offering, including the proceeds from any exercise of the over-allotment option, to fund a portion of the consideration for the proposed acquisition of two of BP America Production Company's gas processing facilities in the Texas Panhandle and the associated gathering system (the BP Acquisition). Pending the application of the net proceeds to fund a portion of the consideration for the BP Acquisition, the Partnership intends to use the net proceeds to repay a portion of the outstanding borrowings under credit facility. If the BP Acquisition is not consummated for any reason, the Partnership will use the net proceeds for general partnership purposes, including future acquisitions and capital program expenditures. UBS Investment Bank, BofA Merrill Lynch, Citigroup, RBC Capital Markets and Wells Fargo Securities will act as joint book-running managers of the offering. Full Article
Eagle Rock Energy Partners Lp Announces Agreement to Acquire BP's Texas Panhandle Midstream System; Enter Into 20-year Fixed-Fee Gathering & Processing Agreement
Eagle Rock Energy Partners Lp announced that it has signed a definitive agreement to acquire BP America Production Company's (BP) Sunray and Hemphill processing plants and associated 2,500 mile gathering system serving the liquids-rich Texas Panhandle (the BP Panhandle System) for $227.5 million in cash, subject to customary purchase price adjustments. Eagle Rock and BP will enter into at closing a 20-year, fixed-fee Gas Gathering and Processing Agreement under which Eagle Rock will gather and process BP's natural gas production from the existing connected wells. Furthermore, BP and its joint venture partners will commit to Eagle Rock under the same Gas Gathering and Processing terms all future natural gas production from new wells drilled within an initial two-year period from closing, subject to mutually-agreed extensions, and within a two-mile radius of the existing 2,500 mile gathering system. BP Panhandle System gathering volumes in the first half of 2012 averaged approximately 180 MMcf/d, and the Partnership expects to continue to grow the overall throughput from the Texas Panhandle area based on the drilling programs from BP and third party producers active in the area. Full Article
Eagle Rock Energy Partners, L.P. Announces Second Quarter 2012 Cash Distribution
Eagle Rock Energy Partners, L.P. announced that it declared a cash distribution for the quarter ended June 30, 2012 of $0.22 per common unit, equivalent to $0.88 per unit on an annualized basis. This distribution is equal to the distribution paid for the first quarter 2012 and represents a 17% increase from the distribution paid for the second quarter of 2011. The distribution will be paid on August 14, 2012 to unitholders of record as of the close of business on August 7, 2012. Full Article
BRIEF-Eagle Rock Energy Partners down 4.3 pct premarket
NEW YORK, March 13 - Eagle Rock Energy Partners LP : * Down 4.3 percent in premarket trading
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