LRR Energy adds exclusion to loan's mandatory prepayment provision

By Angela McDaniels

Tacoma, Wash., Feb. 18 - LRR Energy, LP said LRE Operating, LLC made an amendment to the mandatory prepayment provision of its second-lien term loan on Feb. 12.

The amendment excludes certain sales of common units representing limited partner interests in LRR Energy made on and before June 30 from compliance with the mandatory prepayment provision, which requires LRR Energy to use 50% of the net cash proceeds from any equity offering to repay borrowings outstanding under the term loan, according to an 8-K filing with the Securities and Exchange Commission.

Wells Fargo Energy Capital, Inc. is the administrative agent.

LRR Energy is a Houston-based limited partnership formed by affiliates of Lime Rock Resources to operate, acquire, exploit and develop producing oil and natural gas properties in North America.

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