Referenced Stocks

UPDATE: Eagle Rock Announces Public Offering of Common Units; Shares Drop 3%

By Midnight Trader,  August 13, 2012, 11:40:49 AM EDT

Eagle Rock Energy Partners, L.P. ( EROC ) is down 2.9% at $8.69 after it announced it 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 trades in a 52-week range of $8.25 - $11.81. Shares have fallen 18% in the last 12 months.




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


This article appears in: Investing, Commodities

Referenced Stocks: EROC



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