This Week's IPO: Encore Energy Partners

Only one IPO is on tap for this week: Encore Energy Partners (ENP), a spinoff of Encore Acquisition's Elk and Permian Basin oil and natural gas production properties.

All quotations are from the company's most recent S-1 filings with links provided.

ENCORE ENERGY PARTNERS LP (ENP) Business Overview (from prospectus)

We are a growth-oriented Delaware limited partnership formed on February 13, 2007 by Encore Acquisition Company (NYSE: EAC) to acquire, exploit and develop oil and natural gas properties and to acquire, own and operate related assets. Our assets consist primarily of producing and non-producing oil and natural gas properties in the Elk Basin of Wyoming and Montana and the Permian Basin of West Texas. As of December 31, 2006, on a pro forma basis after giving effect to the acquisition of the Elk Basin assets from subsidiaries of Anadarko Petroleum Corporation, our total estimated proved reserves were 21.4 MMBOE, 68% of which were oil and 86% of which were proved developed.

Offering: 9.0 million shares at $20.00 - $22.00 per share. Net proceeds of approximately $172.0 million will be used to repay debt.

Lead Underwriters: UBS Investment Bank, Lehman Brothers

Financial Highlights:

Oil revenues decreased $0.1 million from $0.5 million in 2005 to $0.4 million in 2006... Natural gas revenues decreased $4.0 million from $16.4 million in 2005 to $12.4 million in 2006... Total production expenses decreased $0.3 million from $3.2 million in 2005 to $2.9 million in 2006... The production expense attributable to LOE for 2006 decreased $0.1 million from $1.8 million in 2005 to $1.7 million in 2006.