Baird served as lead bookrunner on this offering
AboutNew Source Energy Partners L.P. (“New Source” or the “Partnership”) (NYSE: NSLP) recently completed a follow-on offering of 3,450,000 common units at a price of $23.25 per unit, generating gross proceeds of approximately $80.2 million. The Partnership intends to use the net proceeds from the offering to repay a portion of the indebtedness outstanding under its revolving credit facility.
New Source is a limited partnership formed in October 2012 to own and acquire oil and natural gas properties and perform oilfield services business. New Source’s oil and natural gas properties consist of non-operated working interests primarily in the Misener-Hunton formation, or Hunton formation, a conventional resource reservoir located in east-central Oklahoma. New Source’s oilfield services business offers full service blowout prevention installation and pressure testing services throughout the Mid-Continent region, South Texas and West Texas, along with the provision of certain ancillary equipment necessary to perform such services. The Partnership is headquartered in Oklahoma City, Oklahoma.
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- April 2014
- New Source Energy Partners L.P.
- Target Geography
- North America
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