logo
  Join        Login             Stock Quote

New Source Energy Partners Files Plans For IPO Of Up To $106M

 January 02, 2013 02:04 PM


(By Balachander) New Source Energy Partners L.P. has filed to raise up to $106 million in an initial public offering (IPO) of its common units.

The filing with the U.S. federal regulators did not disclose how many units the company plans to offer or the pricing terms.

The company was formed in October 2012 by New Source Energy Corp. to own and acquire oil and natural gas properties in the United States.  Its properties consist of non-operated working interests in the Misener-Hunton formation, a conventional resource reservoir located in east-central Oklahoma.

As of June 30, 2012, New Source Energy Partners said the estimated proved reserves on its properties were roughly 14.2 million barrels of oil equivalent (MMBoe) of which around 58 percent were classified as proved developed reserves and of which about 76.4 percent were comprised of oil and natural gas liquids.

[Related -On Being A Forced Seller in a Panic]

"Both we and New Source Energy believe that, by spending approximately $8.2 million annually from 2013 through 2016, we will be able to at least maintain our production at an average annual rate of 3,200 Boe/d through 2016," the company said in a regulatory filing.

New Source Energy plans to list its common units on the New York Stock Exchange under the symbol "NSLP."

Robert W. Baird, BMO Capital Markets, Stifel Nicolaus and Oppenheimer & Co. are the joint bookrunners of the offering.

iOnTheMarket Premium
Advertisement

Advertisement


Post Comment -- Login is required to post message
Name:  
Alert for new comments:
Your email:
Your Website:
Title:
Comments:
 

rss feed

Latest Stories

article imageOn Being A Forced Seller in a Panic

No one wants to be a forced seller in a panic. So how does anyone get into that situation?  Two things: bad read on...

article imageECB's Quantitative Easing - QuitE Wrong

The eurozone has been doing fine without the ECB’s read on...

article imageCan You Invest Better Than Warren Buffett

Warren Buffett's investing strategy is simple: find companies worth investing in read on...

article imageMild Rebound In Housing Market

Expectations for a snapback in home construction from the winter lull were dampened somewhat in the latest read on...

Advertisement
Popular Articles

Advertisement
Daily Sector Scan
Partner Center

Related Articles:

Can You Invest Better Than Warren Buffett
More Articles on: Finance , Oils/Energy



Fundamental data is provided by Zacks Investment Research, and Commentary, news and Press Releases provided by YellowBrix and Quotemedia.
All information provided "as is" for informational purposes only, not intended for trading purposes or advice. iStockAnalyst.com is not an investment adviser and does not provide, endorse or review any information or data contained herein.
The blog articles are opinions by respective blogger. By using this site you are agreeing to terms and conditions posted on respective bloggers' website.
The postings/comments on the site may or may not be from reliable sources. Neither iStockAnalyst nor any of its independent providers is liable for any informational errors, incompleteness, or delays, or for any actions taken in reliance on information contained herein. You are solely responsible for the investment decisions made by you and the consequences resulting therefrom. By accessing the iStockAnalyst.com site, you agree not to redistribute the information found therein.
The sector scan is based on 15-30 minutes delayed data. The Pattern scan is based on EOD data.