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Eagle Rock Announces Public Offering Of Common Units

HOUSTON, Aug. 13, 2012 (GLOBE NEWSWIRE) -- Eagle Rock Energy Partners, L.P. (the "Partnership" or "Eagle Rock") (Nasdaq:EROC) announced today that it has commenced, subject to market conditions, an underwritten public offering of 8,000,000 of its common units representing limited partner interests. The Partnership also intends to grant the underwriters a 30-day option to purchase up to 1,200,000 additional common units to cover over-allotments, if any.

The Partnership intends to use the net proceeds of the offering, including the proceeds from any exercise of the over-allotment option, to fund a portion of the consideration for the proposed acquisition of two of BP America Production Company's gas processing facilities in the Texas Panhandle and the associated gathering system (the "BP Acquisition"). Pending the application of the net proceeds to fund a portion of the consideration for the BP Acquisition, the Partnership intends to use the net proceeds to repay a portion of the outstanding borrowings under its credit facility. If the BP Acquisition is not consummated for any reason, the Partnership will use the net proceeds for general partnership purposes, including future acquisitions and capital program expenditures.

UBS Investment Bank, BofA Merrill Lynch, Citigroup, RBC Capital Markets and Wells Fargo Securities will act as joint book-running managers of the offering.

When available, copies of the prospectus supplement and accompanying base prospectus relating to the offering may be obtained from the underwriters as follows:
UBS Securities LLC BofA Merrill Lynch
Attn: Prospectus Department Attn: Prospectus Department, 
299 Park Avenue 222 Broadway, 7th Floor, 
New York, New York 10171 New York, New York 10038, 
Toll-free number: (888) 827-7275 or by e-mail at
Citigroup Global Markets Inc. RBC Capital Markets, LLC
Prospectus Department Attn: Prospectus Department
Brooklyn Army Terminal 3 World Financial Center
140 58th Street, 8th Floor 200 Vesey Street, 8th Floor
Brooklyn, New York 11220 New York, New York 10281-8098
Email: Toll-free number: (877) 822-4089
Toll-free number: (800) 831-9146
Wells Fargo Securities, LLC
Attn: Equity Syndicate Department
375 Park Avenue
New York, New York 10152
Toll-free number: (800) 326-5897

The common units will be offered and sold pursuant to an effective shelf registration statement on Form S-3 previously filed with the Securities and Exchange Commission. This news release does not constitute an offer to sell or a solicitation of an offer to buy the securities described herein, 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 jurisdiction. The offering may be made only by means of a prospectus and related prospectus supplement.

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