New Source Energy Partners LP, a New Source Energy-sponsored LP formed to own OK-based oil and gas assets, announced terms for its IPO on Wednesday. The Oklahoma City, OK-based company plans to raise $80 million by offering 4 million shares at a price range of $19 to $21. At the midpoint of the proposed range, New Source Energy Partners LP would command a fully diluted market value of $147 million.
New Source Energy Partners LP, which was founded in 2012 and booked $42 million in sales for the 12 months ended 9/30/2012, plans to list on the NYSE under the symbol NSLP. Baird, Stifel Nicolaus Weisel, BMO Capital Markets and Oppenheimer & Co. are the joint bookrunners on the deal.
