SOURCE: QR Energy

QR Energy

December 16, 2010 20:49 ET

QR Energy Announces Pricing of Initial Public Offering

HOUSTON, TX--(Marketwire - December 16, 2010) - QR Energy, LP, a Delaware limited partnership (NYSE: QRE), announced today that it has priced its initial public offering of 15,000,000 common units representing limited partner interests in QRE at $20.00 per common unit. The underwriters have been granted a 30-day over-allotment option to purchase up to an additional 2,250,000 common units. The common units will begin trading on the New York Stock Exchange on December 17, 2010 under the symbol "QRE." The offering is expected to close on December 22, 2010.

Upon completion of the offering, the public will own an approximate 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

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, and declared effective by, the U.S. Securities and Exchange Commission. 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

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