Current Report Filing (8-k)

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

______________________________

FORM 8-K

______________________________

CURRENT REPORT

Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934

Date of Report (Date of earliest event reported): April 2, 2015

EAGLE ROCK ENERGY PARTNERS, L.P.

(Exact name of Registrant as specified in its charter)



Delaware	001-33016	68-0629883
(State or other jurisdiction of incorporation or organization)	Commission File Number	(I.R.S. Employer Identification No.)

1415 Louisiana Street, Suite 2700

Houston, Texas 77002

(Address of principal executive offices, including zip code)

(281) 408-1200

(Registrant’s telephone number, including area code)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

o Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

o Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

o Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

o Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Item 7.01 Regulation FD Disclosure.

On April 2, 2015, Eagle Rock Energy Partners, L.P. (the “Partnership”) announced that the Partnership’s borrowing base under its senior secured credit facility has been decreased from $320 million to $270 million as part of the Partnership’s regularly scheduled semi-annual redetermination by its commercial lenders. A copy of the press release is attached hereto as Exhibit 99.1 and is incorporated herein by reference.

The information in Item 7.01 of this Current Report on Form 8-K, including the attached Exhibit 99.1, is being “furnished” pursuant to Item 7.01 and shall not be deemed to be “filed” for purposes of Section 18 of the Securities Exchange Act of 1934, as amended, or otherwise subject to the liabilities of that section, and is not incorporated by reference into any Partnership filing, whether made before or after the date hereof, regardless of any general incorporation language in such filing.

Item 9.01 Financial Statements and Exhibits.

(d) Exhibits

Exhibit No. Description

99.1 Press Release of Eagle Rock Energy Partners, L.P. dated April 2, 2015

SIGNATURE

Pursuant to the requirements of the Securities Exchange Act of 1934, the Partnership has duly caused this report to be signed on its behalf by the undersigned thereunto duly authorized.



	EAGLE ROCK ENERGY PARTNERS, L.P.

	By:	Eagle Rock Energy GP, L.P.,
		its general partner

	By:	Eagle Rock Energy G&P, LLC,
		its general partner

Date: April 2, 2015	By:	/s/ Charles C. Boettcher
		Charles C. Boettcher
		Senior Vice President and General Counsel

Exhibit Index

Exhibit No. Description

99.1 Press Release of Eagle Rock Energy Partners, L.P. dated April 2, 2015

April 2, 2015

Eagle Rock Announces Redetermination of Borrowing Base

HOUSTON - Eagle Rock Energy Partners, L.P. (the “Partnership”) (NASDAQ: EROC) today announced that effective April 1, 2015, the borrowing base under its senior secured credit facility has been decreased from $320 million to $270 million as part of the Partnership’s regularly scheduled semi-annual redetermination by its commercial lenders. The Partnership’s borrowing base is redetermined semi-annually effective April 1 and October 1. The Partnership is comfortably in compliance with the financial covenants under its senior secured credit facility.

As of April 1, 2015, the Partnership’s total liquidity was approximately $180 million, comprised of approximately $108 million of availability under its senior secured credit facility and approximately 3.1 million Regency units valued at close of market on April 1, 2015 at $72 million.

Joseph A. Mills, the Partnership's Chairman and Chief Executive Officer, stated, "With the recent downturn in commodity prices, we had anticipated we would see a reduction in our borrowing base. Despite the decrease, Eagle Rock still has ample liquidity, a robust hedge portfolio and a healthy leverage ratio.”

About the Partnership

Eagle Rock is a growth-oriented master limited partnership engaged in (a) the exploitation, development, and production of oil and natural gas properties and (b) ancillary gathering, compressing, treating, processing and marketing services with respect to its production of natural gas, natural gas liquids, condensate and crude oil.

Contact:

Eagle Rock Energy Partners, L.P.

Bob Haines, 281-408-1303

Senior Vice President and Chief Financial Officer

Chad Knips, 281-408-1203

Director, Corporate Finance and Investor Relations

(MM) (NASDAQ:EROC)
Historical Stock Chart
From Jun 2024 to Jul 2024