HOUSTON, July 10, 2012 (GLOBE NEWSWIRE) -- Eagle Rock Energy Partners,
L.P. (Nasdaq:EROC) and its subsidiary, Eagle Rock Energy Finance Corp.,
today announced plans to commence a private offering to eligible
purchasers, subject to market conditions, of $250 million aggregate
principal amount of senior unsecured notes due 2020. Eagle Rock intends
to use the proceeds from the offering to repay outstanding borrowings
under its credit facility.
The senior notes are being offered inside the United States to
qualified institutional buyers in reliance on Rule 144A under the
Securities Act of 1933, as amended (the "Securities Act"), and outside
the United States to non-U.S. persons in reliance on Regulation S under
the Securities Act.
The securities to be offered have not been registered under the
Securities Act or any state securities laws and may not be offered or
sold in the United States absent registration or an applicable
exemption from registration requirements under the Securities Act and
any applicable state securities laws.
This press release is neither an offer to sell nor a solicitation of an
offer to buy any securities and shall not constitute an offer to sell
or a solicitation of an offer to buy, or a sale of, any securities in
any jurisdiction in which such offer, solicitation or sale is unlawful.
This news 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
Eagle Rock expects, believes or anticipates will or may occur in the
future are forward-looking statements and speak only as of the date on
which such statement is made. These statements are based on certain
assumptions made by Eagle Rock based on its experience and perception
of historical trends, current conditions, expected future developments
and other factors it believes are appropriate under the circumstances.
Such statements are subject to a number of assumptions, risks and
uncertainties, many of which are beyond the control of Eagle Rock.
These include, but are not limited to, risks related to volatility of
commodity prices; market demand for crude oil, natural gas and natural
gas liquids; the effectiveness of Eagle Rock's hedging activities;
Eagle Rock's ability to retain key customers; Eagle Rock's ability to
continue to obtain new sources of crude oil and natural gas supply; the
availability of local, intrastate and interstate transportation systems
and other facilities to transport crude oil, natural gas and natural
gas liquids; competition in the oil and gas industry; Eagle Rock's
ability to obtain credit and access the capital markets; general
economic conditions; and the effects of government regulations and
policies. Should one or more of these risks or uncertainties occur, or
should underlying assumptions prove incorrect, Eagle Rock's actual
results and plans could differ materially from those implied or
expressed by any forward-looking statements. Eagle Rock assumes no
obligation to update any forward-looking statement as of any future
date. For a detailed list of Eagle Rock's risk factors, please consult
Eagle Rock's Form 10-K, filed with the Securities and Exchange
Commission for the year ended December 31, 2011, as well as any other
public filings and press releases.
About the Partnership
The Partnership is a growth-oriented master limited partnership engaged
in two businesses: a) midstream, which includes (i) gathering,
compressing, treating, processing and transporting natural gas; (ii)
fractionating and transporting natural gas liquids (NGLs); (iii) crude
oil logistics and marketing; and (iv) natural gas marketing and
trading; and b) upstream, which includes exploiting, developing, and
producing hydrocarbons in oil and natural gas properties.
CONTACT: Jeff Wood, 281-408-1203
Senior Vice President and Chief Financial Officer
Adam Altsuler, 281-408-1350
Director, Corporate Finance and Investor Relations