Memorial Buys Assets In E. Tx, North La.
Transaction Type
Announce Date
Post Date
Close Date
Estimated Price
200MM
Description
Purchased oil and gas producing properties in East Texas and North Louisiana from its sponsor.
Memorial Production Partners LP (Nasdaq: MEMP) has closed on its purchase of oil and gas producing properties in East Texas and North Louisiana from its sponsor, Memorial Resource Development LLC, for about $200 million.
The acquisition was funded with borrowings under MEMP's revolving credit facility and the net proceeds from its public offering of common units, which closed on March 25, 2013. The effective date for this transaction is Jan. 1, 2013.
Memorial Production Partners LP based in Houston, with assets in South Texas, East Texas, North Louisiana and California.