Sec Form 4 Filing - Edelman & Guill Energy L.P. @ Constellation Energy Partners LLC - 2014-06-12

Insider filing report for Changes in Beneficial Ownership
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FORM 4
Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).
UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP
Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934, Section 17(a) of the Public Utility Holding Company Act of 1935 or Section 30(h) of the Investment Company Act of 1940
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1. Name and Address of Reporting Person
Edelman & Guill Energy L.P.
2. Issuer Name and Ticker or Trading Symbol
Constellation Energy Partners LLC [ CEP]
5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)
_____ Director X __ 10% Owner
_____ Officer (give title below) _____ Other (specify below)
(Last) (First) (Middle)
700 LOUISIANA STREET, SUITE 4770
3. Date of Earliest Transaction (MM/DD/YY)
06/12/2014
(Street)
HOUSTON, TX77002
4. If Amendment, Date Original Filed (MM/DD/YY)
6. Individual or Joint/Group Filing (Check Applicable Line)
_____ Form filed by One Reporting Person
__ X __ Form filed by More than One Reporting Person
(City) (State) (Zip)
Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1.Title of Security
(Instr. 3)
2. Transaction Date (MM/DD/YY) 2A. Deemed Execution Date, if any (MM/DD/YY) 3. Transaction Code
(Instr. 8)
4. Securities Acquired (A) or Disposed of (D)
(Instr. 3, 4 and 5)
5. Amount of Securities Beneficially Owned Following Reported Transaction(s)
(Instr. 3 and 4)
6. Ownership Form: Direct (D) or Indirect (I)
(Instr. 4)
7. Nature of Indirect Beneficial Ownership
(Instr. 4)
Code V Amount (A) or (D) Price
Common Units 06/12/2014 S 31,341 D $ 2.4324 ( 1 ) 4,915,988 I By PostRock Energy Corporation ( 2 ) ( 3 )
Common Units 06/13/2014 S 62,772 D $ 2.4124 ( 4 ) 4,853,216 I By PostRock Energy Corporation ( 2 ) ( 3 )
Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned
( e.g. , puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security
(Instr. 3)
2. Conversion or Exercise Price of Derivative Security 3. Transaction Date (MM/DD/YY) 3A. Deemed Execution Date, if any (MM/DD/YY) 4. Transaction Code
(Instr. 8)
5. Number of Derivative Securities Acquired (A) or Disposed of (D)
(Instr. 3, 4, and 5)
6. Date Exercisable and Expiration Date
(MM/DD/YY)
7. Title and Amount of Underlying Securities
(Instr. 3 and 4)
8. Price of Derivative Security
(Instr. 5)
9. Number of Derivative Securities Beneficially Owned Following Reported Transaction(s)
(Instr. 4)
10. Ownership Form of Derivative Security: Direct (D) or Indirect (I)
(Instr. 4)
11. Nature of Indirect Beneficial Ownership
(Instr. 4)
Code V (A) (D) Date Exercisable Expiration Date Title Amount or Number of Shares
Reporting Owners
Reporting Owner Name / Address Relationships
Director 10% Owner Officer Other
Edelman & Guill Energy L.P.
700 LOUISIANA STREET
SUITE 4770
HOUSTON, TX77002
X
PostRock Energy Corp
210 PARK AVENUE
SUITE 2750
OKLAHOMA CITY, OK73102
X
Edelman & Guill Energy Ltd.
700 LOUISIANA STREET
SUITE 4770
HOUSTON, TX77002
X
White Deer Energy L.P.
700 LOUISIANA STREET
HOUSTON, TX77002
X
White Deer Energy TE L.P.
700 LOUISIANA STREET
HOUSTON, TX77002
X
White Deer Energy FI, L.P.
700 LOUISIANA STREET
SUITE 4770
HOUSTON, TX77002
X
EDELMAN THOMAS J
777 MAIN STREET
SUITE 2500
FORT WORTH, TX76102
X
GUILL BEN A
600 TRAVIS
SUITE 6000
HOUSTON, TX77002
X
Signatures
/s/ Stephen L. DeGiuisti, Executive Vice President, General Counsel and Secretary of PostRock Energy Corporation 06/13/2014
Signature of Reporting Person Date
/s/ Thomas Edelman, director of Edelman & Guill Energy Ltd., general partner of Edelman & Guill Energy L.P., general partner of White Deer Energy L.P. 06/13/2014
Signature of Reporting Person Date
/s/ Thomas Edelman, director of Edelman & Guill Energy Ltd., general partner of Edelman & Guill Energy L.P., general partner of White Deer Energy TE L.P. 06/13/2014
Signature of Reporting Person Date
/s/ Thomas Edelman, director of Edelman & Guill Energy Ltd., general partner of Edelman & Guill Energy L.P., general partner of White Deer Energy FI L.P. 06/13/2014
Signature of Reporting Person Date
/s/ Thomas Edelman, director of Edelman & Guill Energy Ltd., general partner of Edelman & Guill Energy L.P. 06/13/2014
Signature of Reporting Person Date
/s/ Thomas Edelman, director of Edelman & Guill Energy, Ltd. 06/13/2014
Signature of Reporting Person Date
/s/ Thomas Edelman 06/13/2014
Signature of Reporting Person Date
/s/ Thomas Edelman, as Attorney-In-Fact For Ben A. Guill 06/13/2014
Signature of Reporting Person Date
Explanation of Responses:
( 1 )The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $2.43 to $2.465, inclusive. The reporting person undertakes to provide to Constellation Energy Partners LLC, any security holder of Constellation Energy Partners LLC, or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the ranges set forth in footnote (1) and footnote (4) to this Form 4.
( 2 )Edelman & Guill Energy L.P. is the general partner of each of White Deer Energy L.P., White Deer Energy TE L.P. and White Deer Energy FI L.P. (collectively, the "Funds"), Edelman & Guill Energy Ltd. is the general partner of Edelman & Guill Energy L.P., and Messrs. Edelman and Guill are the directors of Edelman & Guill Energy Ltd. The Funds beneficially own approximately 60%, as of March 3, 2014, of the common stock of PostRock Energy Corporation ("PSTR") after giving effect to the exercise of their outstanding warrants. Accordingly, each of Edelman & Guill Energy Ltd., Edelman & Guill Energy L.P. and Messrs. Edelman and Guill may be deemed to control the decisions of the Funds and of PSTR.
( 3 )Continued from Footnote 2) The Reporting Persons disclaim beneficial ownership of the reported securities except to the extent of their pecuniary interests therein, and this report shall not be deemed an admission that the reporting persons are the beneficial owners of these securities for purposes of Section 16 or for any other purpose.
( 4 )The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $2.41 to $2.43, inclusive.

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