memp/rrc

[mkarpoff]

Dan, I just read that RRC made a tender offer for MEMP's 2022 bonds. Holders can exchange each for a RRC bond with the same yield, or $1012 in cash. Three questions: Does RRC have a material relationship with MEMP that would make them want to do this? It looks like it helps MEMP, but how does it help RRC? Doesn't this move make MEMP's 2021 bonds look a lot stronger? They can now be purchased for under $50. Thx.

[dan_s]

RRC and MRD are going to merge in a couple of months. MRD does not have anymore interest in MEMP, an MLP they formed.

I am not aware of the RRC offer for MEMP bonds.

[mkarpoff]

Sorry. You are right. I misread article. It was Mem Dvlpmnt notes.