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Memorial Resource Development Corp. Announces Agreement to Divest MEMP GP Interest and IDRs

Memorial Resource Development Corp. MRD, -0.99% today announced that it has entered into an agreement to sell Memorial Production Partners GP LLC ("MEMP GP"), the general partner of MEMP, for $0.75 million in cash to Memorial Production Partners LP MEMP, -6.21% MEMP GP is the general partner of MEMP and holds the general partner interest and 50% of the incentive distribution rights ("IDRs") of MEMP. MRD expects to close the transaction by the end of the second quarter of 2016, subject to customary closing conditions. Following completion of the transaction, MRD will own no interest in...


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