Memorial Resource 42.8M share IPO priced at $19.00 The deal size was increased to 42.8M shares from 36M shares and was priced above the $16.00-$19.00 range. Citigroup and Barclays acted as joint book running managers for the offering.
Memorial Resource reports 2014-end proved reserves up 45% to 1.6 Tcfe Proved reserve value on a PV-10 basis increased 106% to $3B compared to $1.5 billion at year-end 2013. Proved, probable and possible reserves increased 34% to 4.9 Tcfe at year-end 2014 compared to 3.6 Tcfe at year-end 2013. MRD reported estimated fourth quarter 2014 average daily production of 282 MMcfe/d which represents a 21% sequential increase from the third quarter 2014. MRD increased estimated full year 2014 production 77% to 227 MMcfe/d compared to 128 MMcfe/d for full year 2013. MRD completed 11 gross horizontal wells in the Terryville Field during the fourth quarter 2014.