New Source prices IPO at $20 per share

OKLAHOMA CITY (AP) -- New Source Energy Partners LP said Thursday that it priced the initial public offering of its shares at $20 per unit.

New Source, formed by New Source Energy Corp. to acquire oil and natural gas properties in the U.S., is offering 4 million common units and has granted the option for underwriters to buy up to 600,000 units to cover over-allotments.

These shares will begin trading on the New York Stock Exchange under the symbol "NSLP" on Friday. The offering is expected to close on Wednesday.

Baird, Stifel Nicolaus Weisel, BMO Capital Markets and Oppenheimer & Co. are serving as joint book-running managers for the offering. Janney Montgomery Scott, Stephens Inc. and Wunderlich Securities are serving as co-managers for the offering.