HOUSTON, Oct. 2, 2013 (GLOBE NEWSWIRE) -- Memorial Production Partners LP (Nasdaq: MEMP ) announced today the pricing of its public offering of 14,500,000 common units representing limited partner interests in MEMP at a price to the public of $19.90 per unit. MEMP has granted the underwriters a 30-day option to purchase up to an additional 2,175,000 common units. The offering is expected to close on October 8, 2013, subject to customary closing conditions.
MEMP intends to use the net proceeds from the offering, including its general partner's proportionate capital contribution and after deducting underwriting discounts but before offering expenses, of approximately $277.6 million (or approximately $319.2 million if the underwriters exercise their option to purchase additional units in full) to repay a portion of the outstanding borrowings under its revolving credit facility.
BofA Merrill Lynch, Barclays, Citigroup, Goldman, Sachs & Co., J.P. Morgan, Raymond James, RBC Capital Markets, UBS Investment Bank, and Wells Fargo Securities are acting as joint book-running managers for the offering. Oppenheimer, Sanders Morris Harris, MLV & Co., and Wunderlich Securities are acting as co-managers for the offering.
This offering is being made only by means of a prospectus supplement and accompanying prospectus. A copy of the prospectus supplement and accompanying prospectus relating to this offering may be obtained from the offices of:
| BofA Merrill Lynch |
| Attention: Prospectus Department |
| 222 Broadway |
| New York, NY 10038 |
| Email: dg.prospectus_requests@baml.com |
| Barclays |
| c/o Broadridge Financial Solutions |
| 1155 Long Island Avenue |
| Edgewood, NY 11717 |
| Email: Barclaysprospectus@broadridge.com |
| Telephone: (888) 603-5847 |
| Citigroup |
| c/o Broadridge Financial Solutions |
| 1155 Long Island Avenue |
| Edgewood, NY 11717 |
| Email: BATProspectusdept@citi.com |
| Telephone: (800) 831-9146 |
| Goldman, Sachs & Co. |
| Attn: Prospectus Department |
| 200 West Street |
| New York, NY 10282 |
| Email: prospectus-ny@ny.email.gs.com |
| Telephone: (866) 471-2526 |
| J.P. Morgan |
| c/o Broadridge Financial Solutions |
| 1155 Long Island Avenue |
| Edgewood, NY 11717 |
| Telephone: (866) 803-9204 |
| Raymond James |
| Attn: Equity Syndicate |
| 880 Carillon Parkway |
| St. Petersburg, FL 33716 |
| Email: prospectus@raymondjames.com |
| Telephone: (800) 248-8863 |
| RBC Capital Markets |
| Attention: Equity Syndicate |
| Three World Financial Center |
| 200 Vesey Street, 8th Floor |
| New York, NY 10281 |
| Telephone: (877) 822-4089 |
| UBS Investment Bank |
| Attn: Prospectus Dept. |
| 299 Park Avenue |
| New York, New York 10171 |
| Telephone: (888) 827-6444 |
| Wells Fargo Securities |
| Attention: Equity Syndicate Dept. |
| 375 Park Avenue |
| New York, NY 10152 |
| Email: cmclientsupport@wellsfargo.com |
| Telephone: (800) 326-5897 |
An electronic copy of the prospectus supplement and accompanying prospectus may also be obtained at no charge at the Securities and Exchange Commission's ("SEC") website at www.sec.gov .
This press release does not constitute an offer to sell or the solicitation of an offer to buy the securities described herein, nor shall there be any sale of these securities in any jurisdiction in which such an offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such jurisdiction. The offering may be made only by means of a prospectus supplement and accompanying prospectus, each of which is part of an effective shelf registration statement filed by MEMP with the SEC.
Memorial Production Partners LP is a publicly traded partnership engaged in the acquisition, production and development of oil and natural gas properties in the United States. MEMP's properties consist of mature, legacy oil and natural gas reservoirs. MEMP is headquartered in Houston, Texas. For more information, visit www.memorialpp.com .
Forward-Looking Statements
This press release may include "forward-looking statements." All statements, other than statements of historical facts, included in this press release that address activities, events or developments that MEMP expects, believes or anticipates will or may occur in the future are forward-looking statements, such as statements regarding MEMP's ability to close the offering successfully and to use the net proceeds as indicated above. These statements are based on certain assumptions made by MEMP based on its experience and perception of historical trends, current conditions, expected future developments and other factors it believes are appropriate in the circumstances. Such statements are subject to a number of assumptions, risks and uncertainties, many of which are beyond the control of MEMP, which may cause MEMP's actual results to differ materially from those implied or expressed by the forward-looking statements. Please read MEMP's filings with the SEC for a discussion of risks and uncertainties that could cause actual results to differ from those in such forward-looking statements. You are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date of this press release. All forward-looking statements are qualified in their entirety by this cautionary statement. MEMP undertakes no obligation and does not intend to update these forward-looking statements to reflect events or circumstances occurring after this press release.
Memorial Production Partners LP Ronnetta Eaton - Manager, Investor Relations (713) 588-8350
