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Permalink Reply by Skip Peel - Mineral Consultant on September 21, 2015 at 10:36

Memorial Resource Development Corp. Announces Public Offering of Common Stock

HOUSTON, Sept. 21, 2015 (GLOBE NEWSWIRE) -- Memorial Resource Development Corp. (Nasdaq:MRD) announced today that it has commenced an underwritten public offering of 10,250,000 shares of its common stock. MRD has also granted the underwriter an option to purchase up to 1,537,500 additional shares of common stock. MRD intends to use the net proceeds from this offering, and any proceeds from the exercise of the underwriter's option to purchase additional shares, to fund a portion of the purchase price of MRD's recently announced pending acquisition of producing and non-producing properties in North Louisiana. If MRD does not complete the pending acquisition, it will use the net proceeds from the offering for general corporate purposes, which may include repayment of a portion of the outstanding borrowings under MRD's senior secured revolving credit facility.

Barclays is acting as sole book-running manager for the offering. The offering is being made pursuant to an effective shelf registration statement filed with the Securities and Exchange Commission ("SEC") on July 8, 2015.  Copies of the preliminary prospectus for the offering may be obtained from the office of Barclays, via telephone: (888) 603-5847; email: barclaysprospectus@broadridge.com; or standard mail c/o Broadridge Financial Solutions, 1155 Long Island Avenue Edgewood, New York 11717. An electronic copy of the preliminary prospectus may also be obtained at no charge at the SEC's website at www.sec.gov.

This press release shall not constitute an offer to sell or the solicitation of an offer to buy any securities nor shall there be any sale of any securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to the registration or qualification under the securities laws of any such state or jurisdiction.

Permalink Reply by BKG on September 21, 2015 at 12:17

This thing may turn into a HA play yet.................with liquids!

Permalink Reply by Skip Peel - Mineral Consultant on September 21, 2015 at 12:20

Got my fingers crossed.  Looks encouraging.

Permalink Reply by lee on September 22, 2015 at 2:37

The 45,000 net acres Jackson & Lincoln is LOUTEX ENERGY LLC

Permalink Reply by Skip Peel - Mineral Consultant on September 22, 2015 at 2:48

I suspect you are correct, lee.  The Claiborne and Bienville leasehold is most likely from Wildhorse Resources Management which was included in the transaction in order to get the Lincoln and Jackson leases.  There could also be some Nadel & Gussman Ruston leasehold in the total.  And maybe some Linn Energy.  On the whole it appears that leasing in some areas and by some companies may have paused or slowed as part of the transaction.  As I mentioned previously, I don't think leasing has come to a screeching halt.

Permalink Reply by FEW on September 24, 2015 at 14:26

Today I received a pre application notice regarding MRD establishing a drilling and production unit for exploration. My property is not in the proposed unit but is "proximate to" the unit. Should I still remain hopeful for future positive outcomes from this unit?

Permalink Reply by Skip Peel - Mineral Consultant on September 24, 2015 at 14:29

Yes.  Notice of a unit application must be sent to mineral and surface owners of record within the unit boundary and those adjacent to a distance of 1000'.  What sections-township-range were included in the unit plat?  What field?

Permalink Reply by FEW on September 24, 2015 at 15:05

Section 16 & 21/18N/3W are in the unit. The plat also includes sections 15 16 17 20 22 27 28 29.

Permalink Reply by Skip Peel - Mineral Consultant on September 24, 2015 at 15:39

That would extend the Terryville Complex farther south if it makes a good well.  Thanks for posting it.

Permalink Reply by Susan Livingston on September 25, 2015 at 7:04

Hi, What Parish are these Sections in ?  Thanks, Susan L.

Permalink Reply by Skip Peel - Mineral Consultant on September 25, 2015 at 8:53

The majority in eastern Lincoln.  A good bit in north Jackson.  A little in Claiborne and Bienville.

Permalink Reply by Bradley McWilliams on September 27, 2015 at 1:22

Let me check, did I hit the achieves tab?  Have we taken a ride in a strange looking DeLorean?  This string looks like 2007 all over again.  How long has it been since anyone has put out a press release other than layoffs, cutbacks and bankruptcies?

Any way, best wishes to all with this, and it's kind of nice to read some positive news for a change.

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