Energy
Encore Files Large Shelf Registration (ENP, EAC)
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Encore Energy Partners LP (NYSE: ENP) has filed a shelf registration to sell up to $1,000,000,000.00 in securities for its units. It will sell common units representing limited partner interests in Encore Energy Partners LP and debt securities of Encore Energy Partners LP and Encore Energy Partners Finance Corporation.
This is a Delaware limited partnership formed in February 2007 by EACto acquire, exploit and develop oil and natural gas properties and toacquire, own and operate related assets. Its primary business objectiveis to make quarterly cash distributions to unitholders at currentdistribution rates and to increase those quarterly cash distributionsover time. Its assets consist primarily of producing and non-producingoil and natural gas properties in the Big Horn Basin of Wyoming andMontana, the Permian Basin of West Texas, and the Williston Basin ofNorth Dakota.
Encore Energy Partners has a current market cap of $692 million. At$22.08 on the close, it is in the middle of its $16.56 to $28.73trading range over the last 52-weeks.
Encore Acquisition Company (NYSE: EAC) is the ultimate parent company of the general partner and its subsidiaries.
Jon C. Ogg
October 1, 2008
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