FORT WORTH, Texas, Oct. 25, 2012 /PRNewswire/ -- Energy & Exploration Partners, Inc. ("ENXP") announced today that it has commenced an initial public offering of 15,765,864 shares of its common stock, at an anticipated initial public offering price between $14 and $16 per share. ENXP is selling 15,000,000 shares of common stock in the offering, and the selling stockholders named in the registration statement are selling 765,864 shares of common stock in the offering. In addition, the underwriters will be granted a 30-day option to purchase from ENXP up to an additional 2,364,880 shares of common stock, at the same price per share, to cover over-allotments, if any. The common stock will be listed on the New York Stock Exchange and traded under the symbol "ENXP."
ENXP intends to use the net proceeds it receives from the offering to fund acquisitions of additional oil and gas leases and to fund a portion of its 2012 and 2013 capital expenditure budget. ENXP will not receive any proceeds from the sale of shares by the selling stockholders.
Canaccord Genuity Inc. and Johnson Rice & Company L.L.C. are acting as joint book-running managers. Global Hunter Securities LLC, Stephens Inc., Capital One Southcoast, Inc., Macquarie Capital (USA) Inc., Wunderlich Securities, Inc., Knight Capital Americas LLC, C.K. Cooper & Company, Inc. and Guggenheim Securities, LLC are serving as co-managers. The offering of common stock will be made only by means of a prospectus. A written preliminary prospectus meeting the requirements of Section 10 of the Securities Act of 1933, as amended, may be obtained from the offices of:
Canaccord Genuity Inc.
Attn: Jennifer Pardi
99 High Street, Suite 1200
Boston, Massachusetts 02110
Telephone: (617) 371-3900
Johnson Rice & Company L.L.C.
Attn: Corporate Finance Department
639 Loyola Avenue, Suite 2775
New Orleans, Louisiana 70113
Telephone: (504) 584-1231
A registration statement relating to these securities has been filed with the Securities and Exchange Commission but has not yet become effective. These securities may not be sold nor may offers to buy be accepted prior to the time the registration statement becomes effective. The registration statement is available on the SEC's website at http://www.sec.gov/ under "Energy & Exploration Partners, Inc." This press release shall not constitute an offer to sell or a solicitation of an offer to buy any securities, nor shall there be any sale of these securities in any state or jurisdiction in which such an offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.
This press release contains forward-looking statements within the meaning of the federal securities laws. These forward-looking statements involve certain risks and uncertainties, including, among others, risks impacting the ability of ENXP to complete any public offering of its securities because of general market conditions or other factors. ENXP undertakes no obligation to publicly update or revise any forward-looking statement.
ENXP is an independent exploration and production company focused on acquisition, exploration, development and exploitation of unconventional oil and natural gas resources in North America and primarily in the Eagle Ford Shale and Woodbine Sandstone formations in East Texas, the Wolfcamp play in the Permian Basin in West Texas, and the Niobrara Shale in the Denver-Julesburg Basin in Colorado and Wyoming.
Energy & Exploration Partners, Inc.
Brian C. Nelson
Executive Vice President and Chief Financial Officer
SOURCE Energy & Exploration Partners, Inc.