Memorial Production Partners LP Announces Closing of Public Offering of Common Units and Full Exercise of Underwriters' Option to Purchase Additional Common Units

HOUSTON, Sept. 9, 2014 (GLOBE NEWSWIRE) -- Memorial Production Partners LP (Nasdaq:MEMP) announced today the closing of its previously announced public offering of common units representing limited partner interests in MEMP. Including the underwriters' option to purchase additional common units, which was exercised in full, MEMP sold 14,950,000 common units at a price to the public of $22.29 per common unit.

MEMP used the net proceeds from the offering of approximately $321.9 million, including its general partner's proportionate capital contribution and after deducting underwriting discounts but before offering expenses, to repay a portion of the outstanding borrowings under its revolving credit facility.

UBS Investment Bank, Raymond James, BofA Merrill Lynch, Barclays, Citigroup, Goldman, Sachs & Co., Morgan Stanley, RBC Capital Markets and Wells Fargo Securities acted as joint book-running managers for the offering. Ladenburg Thalmann, MLV & Co., Oppenheimer, Sanders Morris Harris and Wunderlich acted as co-managers for the offering.

The offering was made only by means of a prospectus supplement and accompanying prospectus. A copy of the prospectus supplement and accompanying prospectus relating to the offering may be obtained from the offices of:

An electronic copy of the prospectus supplement and accompanying prospectus may also be obtained at no charge at the Securities and Exchange Commission's ("SEC") website at www.sec.gov.

This press release does not constitute an offer to sell or the solicitation of an offer to buy the securities described herein, nor shall there be any sale of these securities in any jurisdiction in which such an offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such jurisdiction. The offering was made only by means of a prospectus supplement and accompanying prospectus, each of which is part of an effective shelf registration statement filed by MEMP with the SEC.

Memorial Production Partners LP is a publicly traded partnership engaged in the acquisition, production and development of oil and natural gas properties in the United States. MEMP's properties consist of mature, legacy oil and natural gas reservoirs. MEMP is headquartered in Houston, Texas. 

Forward-Looking Statements

This press release may include "forward-looking statements." All statements, other than statements of historical facts, included in this press release that address activities, events or developments that MEMP expects, believes or anticipates will or may occur in the future are forward-looking statements. These statements are based on certain assumptions made by MEMP based on its experience and perception of historical trends, current conditions, expected future developments and other factors it believes are appropriate in the circumstances. Such statements are subject to a number of assumptions, risks and uncertainties, many of which are beyond the control of MEMP, which may cause MEMP's actual results to differ materially from those implied or expressed by the forward-looking statements. Please read MEMP's filings with the SEC for a discussion of risks and uncertainties that could cause actual results to differ from those in such forward-looking statements. You are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date of this press release. All forward-looking statements are qualified in their entirety by these cautionary statements. MEMP undertakes no obligation and does not intend to update these forward-looking statements to reflect events or circumstances occurring after this press release.