Oklahoma City-based New Source Energy Partners LP, a Delaware limited partnership (NYSE: NSLP), said Mar. 14 that underwriters of its recently completed initial public offering have purchased an additional 250,000 common units at $20.00 per unit granted to them in the underwriting agreement dated Feb. 7, 2013. New Source Energy Partners’ IPO of 4,000,000 common units, representing limited partnership interests in New Source Energy Partners, closed on Feb. 13.
Net proceeds received by the partnership from the sale of the additional common units were approximately $4.65 million in the aggregate, after deducting underwriting discounts, commissions and expenses. The public now owns an approximate 54.8% limited partner interest in the company.
Baird, Stifel Nicolaus Weisel, BMO Capital Markets, and Oppenheimer & Co. acted as joint book-running managers for the offering. Janney Montgomery Scott, Stephens Inc., and Wunderlich Securities acted as co-managers for the offering.
New Source Energy Partners is an independent energy company engaged in the development and production of onshore oil and liquids-rich portfolio that extends across conventional resource reservoirs in east-central Oklahoma.