Deal Details
Initial Public Offering
Summary
Baird served as lead bookrunner on this offering
About
New Source Energy Partners L.P. (NYSE: NSLP) (“New Source” or the “Partnership”) recently completed an initial public offering of 4,000,000 common units at a price of $20.00 per unit, generating gross proceeds of $80.0 million.New Source is a limited partnership formed in October 2012 by its sponsor, New Source Energy Corporation, to own and acquire oil and natural gas properties in the United States. New Source’s properties are concentrated in the Misener-Hunton formation, a conventional resource reservoir located in east-central Oklahoma. The estimated proved reserves on New Source’s properties were approximately 14.2 million barrels of oil equivalent (“MMBoe”) of which approximately 57.5% were classified as proved developed reserves and of which approximately 71.7% were comprised of oil and natural gas liquids.
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- Date
- February 2013
- Company
- New Source Energy Partners L.P.
- Transaction
- M&A
- Sectors
- Energy
- Target Geography
- North America
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