CrownRock Announces Pricing of $400.0 Million Offering of Senior Notes Due 2029

April 13, 2021 6:49 PM EDT

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MIDLAND, Texas, April 13, 2021 /PRNewswire/ -- CrownRock, L.P. ("CrownRock"), an oil and gas producing joint venture of CrownQuest Operating and Lime Rock Partners, today announced the pricing of a private offering of $400.0 million principal amount of 5.000% senior unsecured notes due 2029 (the "notes") of CrownRock and CrownRock Finance, Inc. CrownRock intends to distribute the proceeds to CrownRock Holdings, L.P., its sole limited partner and sole owner of CrownRock's general partner, to fund its obligations under a partial and conditional redemption of CrownRock Holdings, L.P.'s Series A Preferred Units. The offering is expected to close on April 20, 2021, subject to the satisfaction of customary closing conditions.

The notes have not been registered under the Securities Act of 1933, as amended (the "Securities Act"), or any state securities laws; and unless so registered, the notes may not be offered or sold in the United States except pursuant to an exemption from, or in a transaction not subject to, the registration requirements of the Securities Act and applicable state securities laws. The notes are expected to be eligible for trading by qualified institutional buyers under Rule 144A under the Securities Act and non-U.S. persons under Regulation S under the Securities Act.

This press release is neither an offer to sell nor a solicitation of an offer to buy the notes or any other securities and shall not constitute an offer to sell or a solicitation of an offer to buy, or a sale of, the notes or any other securities in any jurisdiction in which such offer, solicitation or sale is unlawful.

CONTACT: Curt Kamradt,

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SOURCE CrownRock, L.P.

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