HOUSTON, TX--(Marketwire - December 10, 2010) - QR Energy, LP, a Delaware limited partnership (QRE), announced today that it has commenced an initial public offering of 15,000,000 common units representing limited partner interests in QRE pursuant to a registration statement on Form S-1 previously filed with the Securities and Exchange Commission. The underwriters will be granted a 30-day over-allotment option to purchase up to an additional 2,250,000 common units. The common units will be listed on the New York Stock Exchange and traded under the symbol "QRE."
QRE was formed by affiliates of Quantum Resource Funds to own and acquire producing oil and natural gas properties. The common units being offered to the public represent a 42.0% limited partner interest in QRE, or a 48.3% limited partner interest if the underwriters exercise their over-allotment option in full.
Wells Fargo Securities, LLC, J.P. Morgan Securities LLC, Raymond James & Associates, Inc. and RBC Capital Markets, LLC are acting as joint book-running managers for the offering.
Robert W. Baird & Co. Incorporated, Credit Suisse Securities (USA) LLC, Deutsche Bank Securities Inc., Oppenheimer & Co. Inc. and Stifel, Nicolaus & Company, LLC are acting as co-managers for the offering.
This offering of common units will be made only by means of a prospectus. A written prospectus meeting the requirements of Section 10 of the Securities Act of 1933, when available, may be obtained from the offices of:
| Wells Fargo Securities, LLC Attn: Equity Syndicate Dept. 375 Park Avenue New York, New York 10152 Telephone: (800) 326-5897 Email: cmclientsupport@wellsfargo.com |
J.P. Morgan Securities LLC c/o Broadridge Financial Solutions 1155 Long Island Avenue Edgewood, NY 11717 Telephone: (866) 803-9204 |
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| Raymond James & Associates, Inc. Attn: Equity Syndicate 880 Carillon Parkway St. Petersburg, Florida 33716 Telephone: (800) 248-8863 |
RBC Capital Markets, LLC Attn: Equity Syndicate Three World Financial Center 200 Vesey Street, 8th Floor New York, New York 10281 Telephone: (877) 822-4089 |
A registration statement relating to these securities has been filed with the Securities and Exchange Commission but has not yet become effective. These securities may not be sold nor may offers to buy be accepted prior to the time the registration statement becomes effective. The registration statement is available on the SEC's web site at http://www.sec.gov under the registrant's name, "QR Energy, LP." This press release shall not constitute an offer to sell or a solicitation of an offer to buy, nor shall there be any sale of these securities in any state or jurisdiction in which such an offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.
This news release contains forward-looking statements within the meaning of the federal securities laws. These forward-looking statements involve certain risks and uncertainties, including, among others, our business plans may change as circumstances warrant and securities of QR Energy, LP may not ultimately be offered to the public because of general market conditions or other factors.
Contact Information:
INVESTOR CONTACTS:
Taylor B. Miele
Investor Relations Specialist
(713) 452-2990
tmiele@qracq.com
Cedric W. Burgher
Chief Financial Officer
(713) 452-2280
cburgher@qracq.com