PostRock (PSTR) Acquires All Remaining Constellation (CEG) Class B Member Interests in CEP

PostRock Energy Corporation (Nasdaq: PSTR) announced that it had purchased all of Constellation Energy Group, Inc.'s (NYSE: CEG) remaining Class B Member interests in Constellation Energy Partners LLC (NYSE: CEP). In the transaction, PostRock acquired 2,790,224 Class B Interests for $6 million in cash. PostRock now owns all of CEP's Class A Interests and 24.9% of its Class B Interests. In combination, the Interests are believed to represent a 26.4% voting interest in CEP.

PostRock and CEP both have the majority of their assets in the Cherokee Basin of Kansas and Oklahoma. Since last spring, PostRock has sought to work with CEP to explore opportunities to reduce costs and enhance value for the companies' respective investors.

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