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LRR Energy LP Announces Closing Of Acquisition Of Oil And Gas Properties In Oklahoma From Lime Rock Resources

Monday, 1 Apr 2013 05:37pm EDT 

LRR Energy LP announced that it closed its previously announced acquisition of oil and natural gas properties in the Mid-Continent region in Oklahoma and crude oil hedges from its sponsor, Lime Rock Resources, for a purchase price of $38.2 million subject to customary purchase price adjustments. LRE funded the acquisition with borrowings under its revolving credit facility. LRE has $185 million of outstanding borrowings under its revolving credit facility and $50 million of outstanding borrowings under its term loan as of April 1, 2013. LRE has an additional $65 million available under its credit facility which management believes provides ample financial flexibility to execute its capital program and distribution strategy. 

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0.33 +4.41%
19 Dec 2014