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FORT WORTH, Texas, Jul 08, 2009 (BUSINESS WIRE) -- Encore Energy Partners LP (NYSE: ENP) announced today that it closed the previously announced public offering of 9,430,000 common units representing limited partner interests (including 1,230,000 common units representing limited partner interests resulting from the exercise by the underwriters of their over-allotment option) on July 6, 2009. The common units were issued at a price to the public of $14.30. The net proceeds of approximately $129.1 million are expected to be used to fund a portion of the purchase price of the previously announced acquisition of oil and natural gas producing properties in the Rockies and Permian Basin from Encore Acquisition Company.
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 use of proceeds from the offering. Such statements are subject to a number of risks and uncertainties, including those identified in "Item 1A. Risk Factors" and elsewhere in 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