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FORT WORTH, Texas, May 19, 2009 (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.
SOURCE: Encore Energy Partners LP
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