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Oil and gas E&P Energy & Exploration Partners withdraws IPO

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Energy & Exploration Partners, an oil and gas E&P focused on unconventional resources, withdrew its plans for an initial public offering on Monday. The company originally set terms to raise $236 million in November 2012, postponed its IPO and eventually refiled in May 2013. It did not provide a reason for its withdrawal. On Monday the company also announced that it had agreed to acquire 18,300 acres in Texas from TreadStone Energy Partners (owned by Kayne Anderson, NYSE: KYN) for about $715 million. The acquisition brings Energy & Exploration's net acreage in east Texas to about 72,000.

The Fort Worth, TX-based company was founded in 2006 and booked $16 million in sales for the fiscal year ended December 31, 2013. It had planned to list on the NYSE under the symbol ENXP. Citi was set to be the sole bookrunner on the deal. The investment bank also acted as the sole advisor for its most recent acquisition.

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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