Rosetta Resources prices stock offering at $42.50

Rosetta Resources prices stock offering at $42.50 to fund Permian Basin acquisition

Associated Press

HOUSTON (AP) -- Rosetta Resources Inc. said Thursday that it has priced its planned offering of 7 million shares at $42.50 per share.

The news hurt the price of its shares, which had closed on Wednesday at $42.85. In morning trading Thursday, they were down 99 cents, or 2.3 percent, to $41.86. Their 52-week range is $32.37 to $54.61.

The Houston-based energy company on Monday announced the share sale and a $700 million debt offering to help pay for an acquisition in the Permian Basin in Texas, allowing it to enter an area rich in oil and gas deposits.

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