SOURCE: QR Energy

QR Energy

August 06, 2013 22:27 ET

QR Energy Announces Closing of Acquisition of Ark-La-Tex Oil Properties

HOUSTON, TX--(Marketwired - Aug 6, 2013) - QR Energy, LP ("QRE" or "QR Energy") (NYSE: QRE) announced today that it has closed its previously announced acquisition of predominantly oil properties located in the Ark-La-Tex area from a private seller for $109.2 million, after customary purchase price adjustments. The transaction is a bolt-on acquisition of mature, legacy properties contiguous with existing company assets in the East Texas oil field. QR Energy financed the acquisition with cash on hand and borrowings under its bank credit facility.

About QR Energy, LP

QR Energy, LP is a publicly traded partnership engaged in the acquisition, production and development of onshore crude oil and natural gas properties in the United States. QR Energy is headquartered in Houston, Texas. For more information, visit QR Energy's website at www.qrenergylp.com.

Forward-Looking Statements

This press release may contain forward-looking statements within the meaning of federal securities laws. QR Energy believes that its expectations and forecasts are based on reasonable assumptions; however, no assurance can be given that such expectations and forecasts will prove to be correct. A number of factors could cause actual results to differ materially from the expectations and forecasts, anticipated results or other forward-looking information expressed in this press release, including risks and uncertainties regarding future results, capital expenditures, liquidity and financial market conditions, sufficiency of cash from operations, adverse market conditions and governmental regulations. For a more complete list of these risk factors, please read QR Energy's filings with the Securities and Exchange Commission ("SEC"), which are available on QR Energy's Investor Relations website at http://ir.qrenergylp.com or on the SEC's website at www.sec.gov.

Contact Information

  • Investor Contacts

    Josh Wannarka
    Director of Investor Relations
    (713) 452-2990

    Cedric W. Burgher
    Chief Financial Officer
    (713) 452-2200