Initial Public Offering
Baird served as a co-manager in this offering
AboutQR Energy, LP (NYSE: QRE) (“QRE” or the “Partnership”) recently completed an initial public offering of 17,250,000 common units representing limited partner interests in QRE at $20.00 per common unit. The offering generated $345 million of gross proceeds. The Partnership intends to use the net proceeds to make a cash distribution to Quantum Resources funds (the “Fund”).
QRE is a Delaware limited partnership formed by affiliates of the Fund to own and acquire producing oil and natural gas properties in North America. The Partnership’s properties consist of mature, legacy onshore oil and natural gas reservoirs with long-lived, predictable production profiles. As of June 30, 2010, QRE’s total estimated proved reserves were approximately 29.7 million barrels of oil equivalent, of which approximately 69% were oil and NGLs and 68% were classified as proved developed reserves. As of June 30, 2010, QRE operated 83% of its assets, as measured by value, based on the estimated future net revenues discounted at 10% of its estimated proved reserves (“standardized measure”). QRE’s estimated proved reserves had standardized measure of $467.3 million as of June 30, 2010.
For additional information about this transaction, please contact:
- December 2010
- QR Energy, LP
- Target Location
- North America