CrownRock, L.P. (“CrownRock”), an oil and gas producing joint venture of CrownQuest Operating and Lime Rock Partners, today announced the pricing of its private offering of $185 million aggregate principal amount of 5.625% senior notes due 2025 (the “new notes”) at an issue price of 98.260% of par. The new notes are being offered as additional notes to the existing $1 billion aggregate principal amount of 5.625% senior notes due 2025 that were issued in October 2017, all of which remain outstanding (the “existing notes”). The new notes will have identical terms, other than the issue date and issue price, and will constitute part of the same class as the existing notes. CrownRock intends to use the proceeds from the offering for general partnership purposes, including the funding of a portion of its capital development plan. The offering is expected to close on May 22, 2018, subject to the satisfaction of customary closing conditions.
The new notes have not been registered under the Securities Act of 1933, as amended (the “Securities Act”), or any state securities laws; and unless so registered, the new notes may not be offered or sold in the United States except pursuant to an exemption from, or in a transaction not subject to, the registration requirements of the Securities Act and applicable state securities laws. The new notes are expected to be eligible for trading by qualified institutional buyers under Rule 144A under the Securities Act and non-U.S. persons under Regulation S under the Securities Act.
This press release is neither an offer to sell nor a solicitation of an offer to buy the new notes or any other securities and shall not constitute an offer to sell or a solicitation of an offer to buy, or a sale of, the new notes or any other securities in any jurisdiction in which such offer, solicitation or sale is unlawful.
SOURCE CrownRock, L.P.