HOUSTON, May 31, 2012 (GLOBE NEWSWIRE) -- Eagle Rock Energy Partners, L.P. (Nasdaq:EROC) (the "Partnership") announced today that it has filed a prospectus supplement with the Securities and Exchange Commission (the "SEC") through which it may, from time to time, issue common units with an aggregate market value of up to $100 million through UBS Securities LLC or Knight Capital Americas, L.P. as sales agents. The Partnership is under no obligation to issue equity under the program. The Partnership intends to use the net proceeds from sales under the program for general partnership purposes, which may include, among other things, repayment of indebtedness, acquisitions, capital expenditures and additions to working capital.
Sales of common units, if any, will be made by means of ordinary brokers' transactions through the facilities of the NASDAQ Global Select Market, in block transactions, or as otherwise agreed to between the Partnership and UBS Securities LLC or Knight Capital Americas, L.P.
The common units will be offered pursuant to a prospectus supplement, dated May 30, 2012, to the Partnership's base prospectus, dated March 30, 2010, filed as part of the Partnership's effective shelf registration statement previously filed with the SEC. Copies of the prospectus supplement and accompanying base prospectus relating to the offering may be obtained by visiting EDGAR on the SEC website at www.sec.gov, or as follows:
| UBS Securities LLC |
| Attn: Prospectus Department |
| 299 Park Avenue |
| New York, NY 10171 |
| or by telephone toll free at 888-827-7275 |
| Knight Capital Americas, L.P. |
| 320 Park Avenue, 15th Floor |
| New York, NY 10022 |
This press release does not constitute an offer to sell or the solicitation of an offer to buy any securities, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction. Any offering may be made only by means of a prospectus supplement and accompanying base prospectus.
About the Partnership
The Partnership is a growth-oriented master limited partnership engaged in two businesses: a) midstream, which includes (i) gathering, compressing, treating, processing and transporting natural gas; (ii) fractionating and transporting natural gas liquids (NGLs); (iii) crude oil logistics and marketing; and (iv) natural gas marketing and trading; and b) upstream, which includes exploiting, developing, and producing hydrocarbons in oil and natural gas properties.
This news release may include "forward-looking statements." All statements, other than statements of historical facts, included in this press release that address activities, events or developments that the Partnership expects, believes or anticipates will or may occur in the future are forward-looking statements and speak only as of the date on which such statement is made. These statements are based on certain assumptions made by the Partnership based on its experience and perception of historical trends, current conditions, expected future developments and other factors it believes are appropriate under the circumstances. Such statements are subject to a number of assumptions, risks and uncertainties, many of which are beyond the control of the Partnership. These include, but are not limited to, risks related to volatility of commodity prices; market demand for crude oil, natural gas and natural gas liquids; the effectiveness of the Partnership's hedging activities; the Partnership's ability to retain key customers; the Partnership's ability to continue to obtain new sources of crude oil and natural gas supply; the availability of local, intrastate and interstate transportation systems and other facilities to transport crude oil, natural gas and natural gas liquids; competition in the oil and gas industry; the Partnership's ability to obtain credit and access the capital markets; general economic conditions; and the effects of government regulations and policies. Should one or more of these risks or uncertainties occur, or should underlying assumptions prove incorrect, the Partnership's actual results and plans could differ materially from those implied or expressed by any forward-looking statements. The Partnership assumes no obligation to update any forward-looking statement as of any future date. For a detailed list of the Partnership's risk factors, please consult the Partnership's Form 10-K, filed with the Securities and Exchange Commission ("SEC") for the year ended December 31, 2011, as well as any other public filings and press releases.