New Source Energy to price public sale of 2.8 million common units

Deal's proceeds fund repayment of debt under revolver

By Devika Patel

Knoxville, Tenn., April 22 - New Source Energy Partners LP will conduct a public offering of 2.8 million common units with a greenshoe of 420,000 additional common units, according to a prospectus supplement filed Tuesday with the Securities and Exchange Commission.

Robert W. Baird & Co. Inc., Stifel Nicolaus & Co. Inc., Oppenheimer & Co. Inc. and BMO Capital Markets Corp. are the joint bookrunning managers.

Janney Montgomery Scott LLC, Wunderlich Securities Inc. and Sterne Agee & Leach Inc. are the co-managers.

Proceeds will be used to repay debt under the company's revolving credit facility.

Based in Oklahoma City, New Source Energy is an oil and natural gas explorer.

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