Encore Announces IPO Plans
Encore Acquisition Company said that it intends to form a master limited partnership, or MLP, that will engage in an initial public offering of common units representing limited partner interests.
The MLP is expected to own certain Wyoming oil and natural gas properties to be acquired from subsidiaries of Anadarko Petroleum Corporation and certain legacy oil and gas properties currently owned by Encore. Net proceeds from the initial public offering are expected to be used to repay indebtedness incurred in connection with the acquired properties.
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Company: Encore Acquisition Company more info
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