Eagle Rock Energy Partners will acquire Tulsa, Oklahoma-based Crow Creek Energy in a $525 million deal. The U.S. oil and gas company will buy the portfolio company of Natural Gas Partners VIII. The partnership will issue $303 million of common units to the existing equity holders of Crow Creek Energy in a private placement. It will pay $15 million in cash and take over $207 million in debt. The deal is expected to close May 3, 2011.

Click here for the release from Globe Newswire.