QR Energy LP (NYSE: QRE) has acquired $145 million of oil properties located in the Jay field in the Florida Gulf Coast area from its sponsor, Quantum Resources Fund.
The transaction closed on December 28, 2012, and was financed with cash on hand and borrowings under its bank credit facility.
According to the release, the borrowing base is expected to increase from $730 million to $900 million based on Jay and recent East Texas acquisitions.
QR Energy LP is a publicly traded partnership with headquarters in Houston that is engaged in the acquisition, production and development of onshore crude oil and natural gas properties in the US.