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NGP-backed E&P Memorial Resource Development sets terms for $612 million IPO

Memorial Resource Development, an oil and gas E&P backed by Natural Gas Partners focused on North Louisiana formations, announced terms for its IPO on Monday. The Houston, TX-based company plans to raise $612 million by offering 36 million shares (32% insider) at a price range of $16 to $18. At the midpoint of the proposed range, Memorial Resource Development would command a fully diluted market value of $3.3 billion.

Memorial Resource Development, which was founded in 2011 and booked $267 million in sales for the 12 months ended March 31, 2014, plans to list on the NASDAQ under the symbol MRD. It initially filed confidentially on February 6, 2014. Citi, Barclays, BofA Merrill Lynch, BMO Capital Markets, Goldman Sachs, Raymond James, RBC Capital Markets and Wells Fargo are the joint bookrunners on the deal. It is expected to price the week of June 9, 2014.

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


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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