Encore Energy Partners Acquire Upstream Assets in the West; Acquisition Expands Upstream Holdings in East Texas and Mid-Continent

摘要

On 6/29/09 Encore Energy Partners LP (ENP), based in Forth Worth, Tex., agreed to acquire oil and gas producing properties in the Rockies and the Permian Basin from Encore Acquisition Co. (EAC) for $190 million in cash, subject to price adjustments. The deal, effective April 1 and expected to close in August, should immediately boost ENP's cash flow, i.e., its annualized distribution rate should increase from an estimated $2.05 per unit for the second quarter to $2.15 per unit as of the start of the third quarter 2009.