SOURCE: QR Energy

QR Energy

December 06, 2012 16:11 ET

QR Energy Announces Public Offering of Common Units

HOUSTON, TX--(Marketwire - Dec 6, 2012) -  QR Energy, LP, a Delaware limited partnership (NYSE: QRE), announced today that it has commenced an underwritten public offering (the "offering") of 12,000,000 common units representing limited partner interests in QRE (the "common units"). QR Energy intends to grant the underwriters a 30-day option to purchase up to an additional 1,800,000 common units.

QR Energy intends to use the net proceeds from the offering, including the proceeds from any exercise of the underwriters' option to purchase additional common units and its general partner's related capital contribution to maintain its general partner interest, to repay borrowings outstanding under its credit facility and for general corporate purposes.

RBC Capital Markets, Barclays, J.P. Morgan, Raymond James, Wells Fargo Securities, BMO Capital Markets, Citigroup, Credit Suisse, and UBS Investment Bank are acting as joint book-running managers for the offering.

Janney Montgomery Scott, Baird, Goldman Sachs & Co., Oppenheimer & Co., Stifel Nicolaus Weisel, Wunderlich Securities, Global Hunter Securities, Ladenburg Thalmann & Co. Inc., and MLV & Co. are acting as co-managers for the offering.

This offering will be made only by means of a prospectus supplement and accompanying prospectus. When available, a copy of the preliminary prospectus supplement and accompanying prospectus relating to the offering may be obtained from:

RBC Capital Markets
Attn: Equity Syndicate
Three World Financial Center
200 Vesey Street, 8th Floor
New York, New York 10281
Telephone: (877) 822-4089

Barclays
c/o Broadridge Financial Solutions
1155 Long Island Avenue
Edgewood, New York 11717
Email: Barclaysprospectus@broadridge.com
Toll Free: (888) 603-5847

J.P. Morgan
c/o Broadridge Financial Solutions
1155 Long Island Avenue
Edgewood, New York 11717
Telephone: (866) 803-9204

Raymond James
Attn: Equity Syndicate
880 Carillon Parkway
St. Petersburg, Florida 33716
Telephone: (800) 248-8863

Wells Fargo Securities
Attn: Equity Syndicate Dept.
375 Park Avenue
New York, New York 10152
Email: cmclientsupport@wellsfargo.com
Telephone: (800) 326-5897

BMO Capital Markets
Attn: Equity Syndicate Department
3 Times Square, 27th Floor
New York, New York 10036
Email: Bmoprospectus@bmo.com
Telephone: (800) 414-3627

Citigroup
c/o Broadridge Financial Solutions
1155 Long Island Avenue
Edgewood, New York 11717
Email: BATProspectusdept@citi.com
Telephone: (800) 831-9146

Credit Suisse
One Madison Avenue
New York, New York 10010
Attn: Prospectus Department
Telephone: (800) 221-1037

UBS Investment Bank
Attn: Prospectus Department
299 Park Avenue
New York, New York 10171
Phone: (888) 827-7275

An electronic copy of the preliminary prospectus supplement and accompanying base prospectus may also be obtained at no charge at the website of the U.S. Securities and Exchange Commission (the "Commission") at www.sec.gov under the registrant's name, "QR Energy, LP."

This press release does not constitute an offer to sell or the solicitation of an offer to buy the securities described herein, 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. The offering may be made only by means of a prospectus and prospectus supplement meeting the requirements of Section 10 of the Securities Act of 1933, as amended. The offering will be made pursuant to an effective shelf registration statement, which was previously filed by QR Energy with the Commission, and a prospectus supplement and accompanying prospectus, which will be filed by QR Energy with the Commission.

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. 

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 Commission, which are available on the Commission's website at www.sec.gov.

Contact Information

  • Investor Contacts

    Taylor B. Miele
    Investor Relations Manager
    (713) 452-2990

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