Memorial Resource Development Corp. (MRD)

[Timothy Smith]

Memorial Resource Development (NASDAQ:MRD) -3.9% AH after saying it has acquired additional acreage in north Louisiana, including a highly contiguous position near MRD's current position in the Terryville field, where it has identified 588 gross potential horizontal drilling locations.

MRD says it has added, acquired, agreed to acquire, or secured the option to lease an additional ~133K net acres in north Louisiana for a total of $374M.

To help fund the deal, MRD announces a public offering of 10.25M common shares, with an underwriters option to purchase up to an additional 1.537M shares.