EAC News Encore Acquisition Company Announces Plans for an Initial Public Offering of a New Master Limited Partnership
FORT WORTH, Texas--(BUSINESS WIRE)--Encore Acquisition Company (NYSE:EAC) announced today that it intends to
form a master limited partnership, or MLP, that will engage in an
initial public offering of common units representing limited partner
interests. The MLP is expected to own certain Wyoming oil and natural
gas properties to be acquired from subsidiaries of Anadarko Petroleum
Corporation and certain legacy oil and gas properties currently owned by
Encore. Net proceeds from the initial public offering are expected to be
used to repay indebtedness incurred in connection with the acquired
properties.
This announcement shall not constitute an offer to sell or the
solicitation of an offer to buy any securities, nor shall there be any
sale of any securities in any state or jurisdiction in which the offer,
solicitation or sale of securities would be unlawful.The
securities will only be offered and sold pursuant to a registration
statement filed under the Securities Act of 1933, as amended.
Cautionary Statement
This press release includes forward-looking statements, which give
Encore's current expectations or forecasts of future events based on
currently available information. Management’s
assumptions and expectations regarding future events are subject to a
wide range of business risks and uncertainties, and there is no
assurance that Encore’s expectations or
forecasts will be met. More detailed information about the factors that
may affect Encore’s performance may be found
in its most recent Form 10-K and other filings with the Securities and
Exchange Commission. Encore undertakes no obligation to publicly update
or revise any forward-looking statements except as required by law.
