LRR Energy, L.P. Announces Initial Public Offering of Common Units

HOUSTON, Nov. 4, 2011 /PRNewswire/ -- LRR Energy, L.P. ("LRR Energy") announced today that it has commenced an initial public offering of 9,408,000 common units representing limited partner interests in LRR Energy pursuant to a registration statement on Form S-1 previously filed with the Securities and Exchange Commission (the "SEC"). The underwriters will be granted a 30-day option to purchase from LRR Energy up to an additional 1,411,200 common units to cover over-allotments, if any. The common units will be listed on the New York Stock Exchange and traded under the symbol "LRE."

LRR Energy was formed by affiliates of Lime Rock Resources to operate, acquire, exploit and develop producing oil and natural gas properties in North America.  The common units being offered to the public represent a 42.0% limited partner interest in LRR Energy, or a 48.3% limited partner interest if the underwriters exercise their over-allotment option in full.

Wells Fargo Securities, Raymond James, Citigroup, and RBC Capital Markets are acting as joint book-running managers.  Baird, Oppenheimer & Co. and Stifel Nicolaus Weisel are acting as co-managers for the offering. This offering of common units will be made only by means of a prospectus. A written prospectus meeting the requirements of Section 10 of the Securities Act of 1933, when available, may be obtained from the offices of:

A registration statement relating to these securities has been filed with the SEC 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 web site at http://www.sec.gov under the registrant's name, "LRR Energy, L.P."  This press release shall not constitute an offer to sell or a solicitation of an offer to buy, 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.

Forward-Looking Statements

This press release includes "forward-looking statements" — that is, statements related to future, not past, events.  Forward-looking statements are based on current expectations and include any statement that does not directly relate to a current or historical fact.  In this context, forward-looking statements often address expected future business and financial performance, and often contain words such as "anticipate," "believe," "intend," "expect," "plan" or "will" or other similar words.  These forward-looking statements involve certain risks and uncertainties and ultimately may not prove to be accurate.  Actual results and future events could differ materially from those anticipated in such statements.  For example, our common units may not ultimately be offered to the public because of general market conditions or otherwise.  For further discussion of risks and uncertainties, you should refer to LRR Energy's SEC filings.  LRR Energy undertakes no obligation and does not intend to update these forward-looking statements to reflect events or circumstances occurring after this press release. 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 this cautionary statement.

SOURCE LRR Energy, L.P.