Constellation Energy Partners LLC (CEP) Starts 2008 with “Strong Foundation”
Constellation Energy Partners LLC (NYSE: CEP) recently posted its 2007 fourth-quarter results and announced a $53.4 million acquisition of Woodford Shale producing wells from Constellation Energy Group. “The announcement of the dropdown acquisition of the Woodford Shale asset highlights an important competitive advantage," CEO Felix Dawson stated in the press release. "CEP has grown its portfolio in multiple ways, through basin consolidation, coalbed methane plays and now, a dropdown acquisition from our sponsor. This demonstrated flexibility in acquisition approaches is an important differentiator for CEP in the MLP sector.” He continued, “The ability to execute mutually beneficial dropdown transactions was…