Memorial Production Prices Offering Of 14.5 Mln. Common Units At $19.90 Each

(RTTNews) - Oil and gas company Memorial Production Partners LP (MEMP) Wednesday announced the pricing of its public offering of 14.5 million common units representing limited partner interests in MEMP at a price to the public of $19.90 per unit.

MEMP has granted the underwriters a 30-day option to purchase up to an additional 2.175 million common units.

The offering is expected to close on October 8, subject to customary closing conditions.

MEMP intends to use the net proceeds from the offering of about $277.6 million (or about $319.2 million if the underwriters exercise their option to purchase additional units in full) to repay a part of its debts under its revolving credit facility.