Memorial Production Partners LP (NASDAQ: MEMP) priced its public offering of 13 million common units, representing limited partner interests, at $22.29 each, the company said Sept. 4.
Underwriters were given a monthlong option to purchase about 1.9 million additional units, the company said.
Net proceeds of about $279.9 million will repay part of the outstanding revolving credit facility borrowings, the company said.
The offer is scheduled to close Sept. 9, Memorial Production Partners added.
UBS Investment Bank, Raymond James, BofA Merrill Lynch, Barclays Plc (NYSE: BCS), Citigroup (NYSE: C), Goldman Sachs and Co. (NYSE: GS), Morgan Stanley (NYSE: MS), RBC Capital Markets and Wells Fargo Securities LLC are joint book-running managers. Ladenburg Thalmann, MLV & Co., Oppenheimer, Sanders Morris Harris Inc. and Wunderlich are co-managers, Memorial Production Partners said.
Houston-based Memorial Production Partners LP produces and develops domestic oil and natural gas.
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