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.
For additional information about this transaction, please contact:
- April 2014
- New Source Energy Partners L.P.
- Target Location
- North America