LRR Energy, L.P. sets IPO terms

LRR Energy, L.P., a L.P. formed by Lime Rock Resources to develop oil and natural gas properties in North America, announced terms for its IPO on Friday. The Houston, TX-based company plans to raise $188 million by offering 9.4 million shares at a price range of $19.00 to $21.00. At the mid-point of the proposed range, LRR Energy, L.P. will command a market value of $448 million. LRR Energy, L.P., which was founded in 2011 and booked $117 million in sales for the 12 months ended June 30, 2011, plans to list on the NYSE under the symbol LRE. Wells Fargo Securities, Raymond James, and Citigroup are the lead underwriters on the deal.