QR Energy Announces Closing of Acquisition of East Texas Oil Properties
HOUSTON, TX -- (Marketwire) -- 12/04/12 -- QR Energy, LP (QRE) (NYSE: QRE) announced today that it closed its previously announced acquisition of predominantly oil properties from an undisclosed private seller. QRE acquired mature, legacy properties located in the East Texas field for $214.3 million in cash after customary purchase price adjustments.
About QR Energy, LP
QR Energy, LP is a publicly traded partnership engaged in the acquisition, production and development of onshore crude oil and natural gas properties in the United States. QR Energy is headquartered in Houston, Texas. For more information, visit QR Energy's website at www.qrenergylp.com.
This press release may contain forward-looking statements within the meaning of federal securities laws. QR Energy believes that its expectations and forecasts are based on reasonable assumptions; however, no assurance can be given that such expectations and forecasts will prove to be correct. A number of factors could cause actual results to differ materially from the expectations and forecasts, anticipated results or other forward-looking information expressed in this press release, including risks and uncertainties regarding future results, capital expenditures, liquidity and financial market conditions, sufficiency of cash from operations, adverse market conditions and governmental regulations. For a more complete list of these risk factors, please read QR Energy's filings with the Securities and Exchange Commission ("SEC"), which are available on QR Energy's Investor Relations website at http://ir.qrenergylp.com or on the SEC's website at www.sec.gov.
Investor Contacts Taylor B. Miele Investor Relations Manager (713) 452-2990 Cedric W. Burgher Chief Financial Officer (713) 452-2200
Source: QR Energy