Eagle Rock Energy to suspend quarterly distribution

|About: Eagle Rock Energy Partners,... (EROC)|By:, SA News Editor

Eagle Rock Energy Partners (EROC) says it is suspending distributions in advance of closing the sale of its midstream business to Regency Energy Partners (RGP).

EROC says the FTC's request for additional information concerning the midstream sale has extended its original timeframe for closing the transaction and created the need to preserve greater liquidity in the interim to fund growth capex and other financial obligations.

EROC expects Q1 higher distributable cash flow than in Q4 2013, but says it may need to amend its credit facility if the sale does not close by the end of Q2.