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In an effort to reduce debt, Eagle Rock Energy Partners (NASDAQ: EROC) has completed the sale of its fee mineral and royalty interests business to Black Stone Minerals Company for $171.6 million in cash and received a $29 million private placement from Natural Gas Partners, through which Natural Gas acquired about 4.8 million shares of common stock priced at $6.01 per share. Eagle Rock, an owner and operator of natural gas gathering and processing assets, is backed by several other PE investors, including GPS Partners, Lehman Brothers and New Mountain Capital.
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