QR Energy beefs up in Permian, Ark-La-Tex

摘要

QR Energy LP, Houston, (NYSE: QRE) plans to acquire oil and gas properties from its sponsor, Quantum Resources Fund, which is managed by Houston-based private-equity fund Quantum Energy Partners, for $577 million in cash and debt. QR Energy will issue $350 million of convertible preferred units to Quantum Resources Fund and pay $227 million in cash from borrowings in its existing bank credit facility. The assets include properties in existing core areas in the Permian Basin, Ark-La-Tex and Midcontinent. The properties feature 1,574 gross (960 net) producing oil and gas wells on approximately 109,305 net acres concentrated in Texas, Oklahoma and New Mexico.