Eagle Rock Announces Public Offering of Common Units

By MidnightTrader.com Staff,

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Eagle Rock Energy Partners, L.P. ( EROC ) has commenced, subject to market conditions, an underwritten public offering of 8 million of its common units representing limited partner interests.

The company says it intends to use the net proceeds of the offering to fund a portion of the consideration for the proposed acquisition of two of BP America Production Company's gas processing facilities in the Texas Panhandle and the associated gathering system.

EROC added a cent to its share price on Friday, reaching $8.96.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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This article appears in: Investing Commodities
Referenced Stocks: EROC

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