<html>
  <head>
    <title>form8k_042909.htm</title>
<!-- Licensed to: Eagle Rock Energy-->
<!-- Document Created using EDGARizer 4.0.6.1 -->
<!-- Copyright 1995 - 2008 EDGARfilings, Ltd., an IEC company. All rights reserved -->
</head>
    <body bgcolor="#ffffff" style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">
    <div>
      <hr style="MARGIN-TOP: -5px; COLOR: #000000" noshade size="4">
      <hr style="MARGIN-TOP: -10px; COLOR: #000000" noshade size="1">
    </div>
    <div>&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">UNITED
STATES</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">SECURITIES
AND EXCHANGE COMMISSION</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Washington,
D.C. 20549</font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">______________________________</font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">FORM
8-K</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">______________________________</font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">CURRENT
REPORT</font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Pursuant
to Section 13 or 15(d) of the Securities Exchange Act of 1934</font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Date of
Report (Date of earliest event reported): April 29, 2009</font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 18pt; FONT-FAMILY: Times New Roman">EAGLE
ROCK ENERGY PARTNERS, L.P.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">(Exact
Name of Registrant as Specified in Its Charter)</font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div>
      <table cellpadding="0" cellspacing="0" width="100%">
          <tr>
            <td valign="top" width="25%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Delaware</font></div>
            </td>
            <td valign="top" width="22%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">001-33016</font></div>
            </td>
            <td valign="top" width="25%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">68-0629883</font></div>
            </td>
          </tr>
          <tr>
            <td valign="top" width="25%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">(State
      or other jurisdiction of</font></div>
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">incorporation
      or organization)</font></div>
            </td>
            <td valign="top" width="22%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">(Commission</font></div>
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">File
      Number)</font></div>
            </td>
            <td valign="top" width="25%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">(I.R.S.
      Employer</font></div>
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Identification
      Number)</font></div>
            </td>
          </tr>
      </table>
    </div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">16701
Greenspoint Park Drive, Suite&#160;200</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Houston,
Texas 77060</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">(Address
of principal executive offices, including zip code)</font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">(281)&#160;408-1200</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">(Registrant&#8217;s
telephone number, including area code)</font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Check the
appropriate box below if the Form 8-K filing is intended to simultaneously
satisfy the filing obligation of the registrant under any of the following
provisions:</font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">&#9633;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;Written
communications pursuant to Rule 425 under the Securities Act (17 CFR
230.425)</font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">&#9633;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;Soliciting
material pursuant to Rule 14a-12 under the Exchange Act (17 CFR
240.14a-12)</font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div>
      <table align="center" border="0" cellpadding="0" cellspacing="0" id="hangingindent" width="100%">
          <tr valign="top">
            <td style="WIDTH: 27pt">
              <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">&#9633;</font></div>
            </td>
            <td>
              <div align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Pre-commencement
      communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR
      240.14d-2(b))</font></div>
            </td>
          </tr>
      </table>
    </div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div>
      <table align="center" border="0" cellpadding="0" cellspacing="0" id="hangingindent" width="100%">
          <tr valign="top">
            <td style="WIDTH: 27pt">
              <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">&#9633;</font></div>
            </td>
            <td>
              <div align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Pre-commencement
      communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR
      240.13e-4(c))</font></div>
            </td>
          </tr>
      </table>
    </div><br>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center">
      <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br>
        <div id="PGBRK" style="MARGIN-LEFT: 0pt; WIDTH: 100%; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt">
          <div id="FTR">
            <div id="GLFTR" style="WIDTH: 100%" align="left"><font style="DISPLAY: inline; FONT-SIZE: 8pt; COLOR: #000000; FONT-FAMILY: Times New Roman">&#160;
</font></div>
          </div>
          <div id="PN" style="PAGE-BREAK-AFTER: always">
            <div style="WIDTH: 100%; TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: Times New Roman">&#160;
</font></div>
            <div style="WIDTH: 100%; TEXT-ALIGN: center">
              <hr style="COLOR: black" noshade size="2">
            </div>
          </div>
          <div id="HDR">
            <div id="GLHDR" style="WIDTH: 100%" align="right"><font style="DISPLAY: inline; FONT-SIZE: 8pt; COLOR: #000000; FONT-FAMILY: Times New Roman">&#160;
</font></div>
          </div>
        </div><br>
        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Item
7.01&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;Regulation
FD Disclosure.</font></div>
        <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">On April
29, 2009, Eagle Rock Energy Partners, L.P. (&#8220;Eagle Rock&#8221; or the &#8220;Partnership&#8221;)
issued a press release announcing its quarterly cash distribution for the
quarter ended March 31, 2009 and a redetermination of the borrowing base under
its senior revolving credit facility.&#160;&#160;The quarterly cash distribution
has been reduced from $.41 per unit, which was paid for the previous quarter, to
$.025 per common unit for the first quarter 2009.&#160;&#160;The Partnership&#8217;s
borrowing base under its senior revolving credit facility, relating to its
upstream business assets, has been redetermined at $135 million.</font></div>
        <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">In the
press release, the Partnership disclosed that it will hold a conference call at
8 a.m. CT (9 a.m. ET) on April 30, 2009 to discuss the reduction in the
quarterly distributions and the redetermination of the borrowing
base.&#160;&#160;In the press release, the Partnership also disclosed that it
would announce earnings for the quarter ended March 31, 2009, after the market
closes on May 7, 2009, and will hold a conference call at 9 a.m. CT (10 a.m. ET)
on May 8, 2009 to discuss earnings.</font></div>
        <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">A copy of
the press release is attached hereto as Exhibit 99.1.&#160;&#160;In accordance
with General Instruction B.2 of Form 8-K, the information set forth in this Item
7.01 and in the attached exhibit are deemed to be furnished and shall not be
deemed to be &#8220;filed&#8221; for purposes of Section 18 of the Securities Exchange Act
of 1934, as amended.</font></div>
        <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Item
8.01&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;Other
Events.</font></div>
        <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">On April
29, 2009, the Partnership announced that it will pay a quarterly cash
distribution of $.025 per common unit for the quarter ended March 31, 2009, a
reduction in the distribution payment from the quarter ended December 31, 2008,
which was $.41 on all units.&#160;&#160;On May 15, 2009, the Partnership will
pay a cash distribution to its common unitholders of record as of the close of
business on May 11, 2009.</font></div>
        <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Additionally,
the Partnership announced that the borrowing base under its senior revolving
credit facility, which relates to its upstream business, has been redetermined
from $206 million as of December 31, 2008 to $135 million
currently.&#160;&#160;This reduction in the borrowing base occurred in
connection with a normally scheduled redetermination in accordance with the
Partnership&#8217;s senior revolving credit facility and is primarily the result of
the deterioration of commodity prices in the oil and natural gas
industry.&#160;&#160;Notwithstanding this redetermination, the Partnership
currently is in compliance with the financial and other covenants in its senior
revolving credit facility.&#160;&#160;&#160;For a detailed description of the
Partnership&#8217;s senior revolving credit facility, see the description under Item
7. Management&#8217;s Discussion and Analysis of Financial Condition and Results of
Operations included in the Partnership&#8217;s annual report on Form 10-K for the year
ended December 31, 2008.</font></div>
        <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">In light
of the borrowing base redetermination and the deterioration of commodity prices
in the oil and natural gas industry, which has led to declines in customers&#8217;
drilling activity and hydrocarbon throughput&#160;volumes in its gathering and
processing systems and plants, the Board of Directors of the general partner of
the general partner of the Partnership (the &#8220;Board&#8221;) has determined to create
cash reserves for the proper conduct of the Partnership&#8217;s business, to preserve
the Partnership&#8217;s business and to remain in compliance with financial covenants
under the Partnership&#8217;s senior revolving credit facility.&#160;&#160;The cash
not distributed will be used primarily to reduce the Partnership&#8217;s outstanding
debt under its senior revolving credit facility and to continue the execution of
its hedge strategy to maintain future cash flows.&#160;&#160;The Partnership
anticipates continuing this strategy until such time as the commodity prices in
the oil and natural gas industry and the general economy return to levels
conducive to increasing the cash distributions to be paid to the
unitholders.</font></div>
        <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">The
amount of the first quarter 2009 distribution is below the Minimum Quarterly
Distribution amount ($.3625 per quarter; the &#8220;MQD&#8221;) as described in the
Partnership&#8217;s First Amended and Restated Agreement of Limited Partnership dated
as of October 27, 2006 (the &#8220;Partnership Agreement&#8221;).&#160;&#160;The effect of a
payment below the MQD is that it creates a &#8220;Common Unit Arrearage&#8221; (as the term
is defined in the Partnership Agreement).&#160;&#160;A Common Unit Arrearage
does not create a right of common unitholders to receive the amount of the
arrearage, which may never be paid.&#160;&#160;However, the presence of an
arrearage, generally has three main effects: (1) the Partnership cannot make
payments on its subordinated units until Common Unit Arrearages are paid;
(2)&#160;&#160;the Partnership cannot make payments on its incentive
distributions until Common Unit Arrearages are paid; and (3) the subordinated
units generally cannot convert until, among other things, Common Unit Arrearages
are paid.</font></div>
        <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Unitholders
will be required to pay federal income taxes and, in some cases, state and local
income taxes on their allocable share of the Partnership&#8217;s taxable income,
whether or not they receive sufficient&#160;&#160;or any cash distributions from
the Partnership.&#160;&#160;Thus, unless the Partnership resumes sufficient cash
distributions to unitholders during this year, unitholders may not receive cash
distributions from Eagle Rock equal to their share of the Partnership&#8217;s taxable
income or even equal to the actual tax liability that results from their share
of the Partnership&#8217;s taxable income.</font></div>
        <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">The
Partnership has identified the following risks as risks relating to the
ownership of common units of the Partnership in light of the announced reduction
in cash distribution payments.</font></div>
        <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-STYLE: italic; FONT-FAMILY: Times New Roman">We
may not be able to pay the minimum quarterly distribution and any arrearages on
the common units.</font></div>
        <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Based on
current market conditions and the outlook for commodity prices, we recently
announced that quarterly distributions on our common units are being reduced
below the minimum quarterly distribution as defined in our partnership
agreement.&#160;&#160;As described in the partnership agreement, during the
subordination period, our common units carry arrearage rights. Although the
common unitholders have arrearage rights, the unitholders are not entitled to
receive these arrearages, which may never be paid.&#160;&#160;We can give no
assurances that the minimum quarterly distribution and any arrearages will ever
be paid on the common units.&#160;&#160;However, we must first pay all
arrearages in addition to current minimum quarterly distributions before
distributions can be made to holders of our subordinated units and our incentive
distribution rights, and we generally must first pay all arrearages before
conversion of our subordinated units can occur.</font></div>
        <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-STYLE: italic; FONT-FAMILY: Times New Roman">Limited
partners may be required to pay taxes on their share of our income even if they
do not receive any cash distributions from us.</font></div>
        <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Because
our unitholders will be treated as partners to whom we will allocate taxable
income which could be different in amount than the cash we distribute, limited
partners will be required to pay any federal income taxes and, in some cases,
state and local income taxes on their share of our taxable income even if no
cash distributions were received from us.&#160;&#160;Our taxable income for a
taxable year may include income without a corresponding receipt of cash by us,
such as accrual of future income, original issue discount or cancellation of
indebtedness income.&#160;&#160;We may not pay cash distributions equal to a
limited partner&#8217;s share of our taxable income or even equal to the actual tax
liability that results from that income.</font></div>
        <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Item
9.01&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;Financial
Statements and Exhibits.</font></div>
        <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font style="DISPLAY: inline; TEXT-DECORATION: underline">Exhibit
No.</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="DISPLAY: inline; TEXT-DECORATION: underline">Description</font></font></div>
        <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
        <div>
          <table align="center" border="0" cellpadding="0" cellspacing="0" id="hangingindent" width="100%">
              <tr valign="top">
                <td style="WIDTH: 115px">
                  <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">99.1</font></div>
                </td>
                <td width="1122">
                  <div align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Press
      Release of Eagle Rock Energy Partners, L.P. dated April 29, 2009
      (furnished under Item 7.01).</font></div>
                </td>
              </tr>
          </table>
        </div>
        <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
        <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
        <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
        <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
        <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div><br>
        <div id="PGBRK" style="MARGIN-LEFT: 0pt; WIDTH: 100%; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt">
          <div id="FTR">
            <div id="GLFTR" style="WIDTH: 100%" align="left"><font style="DISPLAY: inline; FONT-SIZE: 8pt; COLOR: #000000; FONT-FAMILY: Times New Roman">&#160;
</font></div>
          </div>
          <div id="PN" style="PAGE-BREAK-AFTER: always">
            <div style="WIDTH: 100%; TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: Times New Roman">&#160;
</font></div>
            <div style="WIDTH: 100%; TEXT-ALIGN: center">
              <hr style="COLOR: black" noshade size="2">
            </div>
          </div>
          <div id="HDR">
            <div id="GLHDR" style="WIDTH: 100%" align="right"><font style="DISPLAY: inline; FONT-SIZE: 8pt; COLOR: #000000; FONT-FAMILY: Times New Roman">&#160;
</font></div>
          </div>
        </div><br>
        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">SIGNATURE</font></div>
        <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Pursuant
to the requirements of the Securities Exchange Act of 1934, the registrant has
duly caused this report to be signed on its behalf by the undersigned thereunto
duly authorized.</font></div>
        <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
        <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
        <div>
          <table cellpadding="0" cellspacing="0" width="100%">
              <tr>
                <td align="left" valign="top" width="36%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">&#160;
      </font></td>
                <td align="left" valign="top" width="42%">
                  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">EAGLE
      ROCK ENERGY PARTNERS, L.P.</font></div>
                </td>
              </tr>
          </table>
        </div>
        <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
        <div>
          <table cellpadding="0" cellspacing="0" width="100%">
              <tr>
                <td align="left" valign="top" width="36%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">&#160;
      </font></td>
                <td align="left" valign="top" width="6%">
                  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">By:</font></div>
                </td>
                <td align="left" valign="top" width="36%">
                  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Eagle
      Rock Energy GP, L.P.,</font></div>
                </td>
              </tr>
              <tr>
                <td valign="top" width="36%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">&#160;
      </font></td>
                <td valign="top" width="6%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">&#160;
      </font></td>
                <td align="left" valign="top" width="36%">
                  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">its
      general partner</font></div>
                </td>
              </tr>
          </table>
        </div>
        <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
        <div>
          <table cellpadding="0" cellspacing="0" width="100%">
              <tr>
                <td align="left" valign="top" width="36%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">&#160;
      </font></td>
                <td align="left" valign="top" width="6%">
                  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">By:</font></div>
                </td>
                <td align="left" valign="top" width="36%">
                  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Eagle
      Rock Energy G&amp;P, LLC,</font></div>
                </td>
              </tr>
              <tr>
                <td valign="top" width="36%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">&#160;
      </font></td>
                <td valign="top" width="6%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">&#160;
      </font></td>
                <td align="left" valign="top" width="36%">
                  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">its
      general partner</font></div>
                  <div style="DISPLAY: block; TEXT-INDENT: 0pt">&#160;</div>
                </td>
              </tr>
              <tr>
                <td align="left" valign="top" width="36%">
                  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Date:
      April 29, 2009</font></div>
                </td>
                <td align="left" valign="top" width="6%">
                  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">By:</font></div>
                </td>
                <td align="left" valign="top" width="36%">
                  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman; TEXT-DECORATION: underline">/s/
      Joseph A. Mills<font id="TAB2" style="LETTER-SPACING: 9pt">&#160;&#160;&#160;</font>&#160;<font id="TAB2" style="LETTER-SPACING: 9pt">&#160;&#160;&#160;</font>&#160;<font id="TAB2" style="LETTER-SPACING: 9pt">&#160;&#160;&#160;</font>&#160;</font></div>
                </td>
              </tr>
              <tr>
                <td valign="top" width="36%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">&#160;
      </font></td>
                <td valign="top" width="6%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">&#160;
      </font></td>
                <td align="left" valign="top" width="36%">
                  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Joseph
      A. Mills</font></div>
                </td>
              </tr>
              <tr>
                <td valign="top" width="36%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">&#160;
      </font></td>
                <td valign="top" width="6%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">&#160;
      </font></td>
                <td align="left" valign="top" width="36%">
                  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Chief
      Executive Officer</font></div>
                </td>
              </tr>
          </table>
        </div>
        <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
        <div style="DISPLAY: block; TEXT-INDENT: 0pt">&#160;</div><br>
        <div id="PGBRK" style="MARGIN-LEFT: 0pt; WIDTH: 100%; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt">
          <div id="FTR">
            <div id="GLFTR" style="WIDTH: 100%" align="left"><font style="DISPLAY: inline; FONT-SIZE: 8pt; COLOR: #000000; FONT-FAMILY: Times New Roman">&#160;
</font></div>
          </div>
          <div id="PN" style="PAGE-BREAK-AFTER: always">
            <div style="WIDTH: 100%; TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: Times New Roman">&#160;
</font></div>
            <div style="WIDTH: 100%; TEXT-ALIGN: center">
              <hr style="COLOR: black" noshade size="2">
            </div>
          </div>
          <div id="HDR">
            <div id="GLHDR" style="WIDTH: 100%" align="right"><font style="DISPLAY: inline; FONT-SIZE: 8pt; COLOR: #000000; FONT-FAMILY: Times New Roman">&#160;
</font></div>
          </div>
        </div><br>
        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">EXHIBIT
INDEX</font></div>
        <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font style="DISPLAY: inline; TEXT-DECORATION: underline">Exhibit
No.</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="DISPLAY: inline; TEXT-DECORATION: underline">Description</font></font></div>
        <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
        <div>
          <table align="center" border="0" cellpadding="0" cellspacing="0" id="hangingindent" width="100%">
              <tr valign="top">
                <td style="WIDTH: 125px">
                  <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">99.1</font></div>
                </td>
                <td width="1112">
                  <div align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Press
      Release of Eagle Rock Energy Partners, L.P. dated April 29, 2009
      (furnished under Item
7.01).</font></div>
                </td>
              </tr>
          </table>
        </div><br></div>
    </div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center">&#160;</div>
    <div>
      <hr style="MARGIN-TOP: -5px; COLOR: #000000" noshade size="1">
      <hr style="MARGIN-TOP: -13px; COLOR: #000000" noshade size="4">
    </div>
    <div><br>&#160;</div>
  </body>
</html>
[{"type": "8-K", "sequence": "1", "filename": "form8k_042909.htm", "description": "FORM 8K", "secsgml_size_bytes": 37436}]
{"company-data": {"conformed-name": "EAGLE ROCK ENERGY PARTNERS L P", "cik": "0001364541", "assigned-sic": "1311", "irs-number": "680629883", "state-of-incorporation": "DE", "fiscal-year-end": "1231"}, "filing-values": {"form-type": "8-K", "act": "34", "file-number": "001-33016", "film-number": "09780792"}, "business-address": {"street1": "16701 GREENSPOINT PARK DRIVE", "street2": "SUITE 200", "city": "HOUSTON", "state": "TX", "zip": "77060", "phone": "281-408-1200"}, "mail-address": {"street1": "16701 GREENSPOINT PARK DRIVE", "street2": "SUITE 200", "city": "HOUSTON", "state": "TX", "zip": "77060"}, "former-company": {"former-conformed-name": "Eagle Rock Energy Partners, L.P.", "date-changed": "20060531"}}
form8k_042909.htm
UNITED
STATES
SECURITIES
AND EXCHANGE COMMISSION
Washington,
D.C. 20549
______________________________
FORM
8-K
______________________________
CURRENT
REPORT
Pursuant
to Section 13 or 15(d) of the Securities Exchange Act of 1934
Date of
Report (Date of earliest event reported): April 29, 2009
EAGLE
ROCK ENERGY PARTNERS, L.P.
(Exact
Name of Registrant as Specified in Its Charter)
Delaware
001-33016
68-0629883
(State
      or other jurisdiction of
incorporation
      or organization)
(Commission
File
      Number)
(I.R.S.
      Employer
Identification
      Number)
16701
Greenspoint Park Drive, Suite 200
Houston,
Texas 77060
(Address
of principal executive offices, including zip code)
(281) 408-1200
(Registrant's
telephone number, including area code)
Check the
appropriate box below if the Form 8-K filing is intended to simultaneously
satisfy the filing obligation of the registrant under any of the following
provisions:
□         Written
communications pursuant to Rule 425 under the Securities Act (17 CFR
230.425)
□         Soliciting
material pursuant to Rule 14a-12 under the Exchange Act (17 CFR
240.14a-12)
□
Pre-commencement
      communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR
      240.14d-2(b))
□
Pre-commencement
      communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR
      240.13e-4(c))
Item
7.01                      Regulation
FD Disclosure.
On April
29, 2009, Eagle Rock Energy Partners, L.P. ("Eagle Rock" or the "Partnership")
issued a press release announcing its quarterly cash distribution for the
quarter ended March 31, 2009 and a redetermination of the borrowing base under
its senior revolving credit facility.  The quarterly cash distribution
has been reduced from $.41 per unit, which was paid for the previous quarter, to
$.025 per common unit for the first quarter 2009.  The Partnership's
borrowing base under its senior revolving credit facility, relating to its
upstream business assets, has been redetermined at $135 million.
In the
press release, the Partnership disclosed that it will hold a conference call at
8 a.m. CT (9 a.m. ET) on April 30, 2009 to discuss the reduction in the
quarterly distributions and the redetermination of the borrowing
base.  In the press release, the Partnership also disclosed that it
would announce earnings for the quarter ended March 31, 2009, after the market
closes on May 7, 2009, and will hold a conference call at 9 a.m. CT (10 a.m. ET)
on May 8, 2009 to discuss earnings.
A copy of
the press release is attached hereto as Exhibit 99.1.  In accordance
with General Instruction B.2 of Form 8-K, the information set forth in this Item
7.01 and in the attached exhibit are deemed to be furnished and shall not be
deemed to be "filed" for purposes of Section 18 of the Securities Exchange Act
of 1934, as amended.
Item
8.01                      Other
Events.
On April
29, 2009, the Partnership announced that it will pay a quarterly cash
distribution of $.025 per common unit for the quarter ended March 31, 2009, a
reduction in the distribution payment from the quarter ended December 31, 2008,
which was $.41 on all units.  On May 15, 2009, the Partnership will
pay a cash distribution to its common unitholders of record as of the close of
business on May 11, 2009.
Additionally,
the Partnership announced that the borrowing base under its senior revolving
credit facility, which relates to its upstream business, has been redetermined
from $206 million as of December 31, 2008 to $135 million
currently.  This reduction in the borrowing base occurred in
connection with a normally scheduled redetermination in accordance with the
Partnership's senior revolving credit facility and is primarily the result of
the deterioration of commodity prices in the oil and natural gas
industry.  Notwithstanding this redetermination, the Partnership
currently is in compliance with the financial and other covenants in its senior
revolving credit facility.   For a detailed description of the
Partnership's senior revolving credit facility, see the description under Item
7. Management's Discussion and Analysis of Financial Condition and Results of
Operations included in the Partnership's annual report on Form 10-K for the year
ended December 31, 2008.
In light
of the borrowing base redetermination and the deterioration of commodity prices
in the oil and natural gas industry, which has led to declines in customers'
drilling activity and hydrocarbon throughput volumes in its gathering and
processing systems and plants, the Board of Directors of the general partner of
the general partner of the Partnership (the "Board") has determined to create
cash reserves for the proper conduct of the Partnership's business, to preserve
the Partnership's business and to remain in compliance with financial covenants
under the Partnership's senior revolving credit facility.  The cash
not distributed will be used primarily to reduce the Partnership's outstanding
debt under its senior revolving credit facility and to continue the execution of
its hedge strategy to maintain future cash flows.  The Partnership
anticipates continuing this strategy until such time as the commodity prices in
the oil and natural gas industry and the general economy return to levels
conducive to increasing the cash distributions to be paid to the
unitholders.
The
amount of the first quarter 2009 distribution is below the Minimum Quarterly
Distribution amount ($.3625 per quarter; the "MQD") as described in the
Partnership's First Amended and Restated Agreement of Limited Partnership dated
as of October 27, 2006 (the "Partnership Agreement").  The effect of a
payment below the MQD is that it creates a "Common Unit Arrearage" (as the term
is defined in the Partnership Agreement).  A Common Unit Arrearage
does not create a right of common unitholders to receive the amount of the
arrearage, which may never be paid.  However, the presence of an
arrearage, generally has three main effects: (1) the Partnership cannot make
payments on its subordinated units until Common Unit Arrearages are paid;
(2)  the Partnership cannot make payments on its incentive
distributions until Common Unit Arrearages are paid; and (3) the subordinated
units generally cannot convert until, among other things, Common Unit Arrearages
are paid.
Unitholders
will be required to pay federal income taxes and, in some cases, state and local
income taxes on their allocable share of the Partnership's taxable income,
whether or not they receive sufficient  or any cash distributions from
the Partnership.  Thus, unless the Partnership resumes sufficient cash
distributions to unitholders during this year, unitholders may not receive cash
distributions from Eagle Rock equal to their share of the Partnership's taxable
income or even equal to the actual tax liability that results from their share
of the Partnership's taxable income.
The
Partnership has identified the following risks as risks relating to the
ownership of common units of the Partnership in light of the announced reduction
in cash distribution payments.
We
may not be able to pay the minimum quarterly distribution and any arrearages on
the common units.
Based on
current market conditions and the outlook for commodity prices, we recently
announced that quarterly distributions on our common units are being reduced
below the minimum quarterly distribution as defined in our partnership
agreement.  As described in the partnership agreement, during the
subordination period, our common units carry arrearage rights. Although the
common unitholders have arrearage rights, the unitholders are not entitled to
receive these arrearages, which may never be paid.  We can give no
assurances that the minimum quarterly distribution and any arrearages will ever
be paid on the common units.  However, we must first pay all
arrearages in addition to current minimum quarterly distributions before
distributions can be made to holders of our subordinated units and our incentive
distribution rights, and we generally must first pay all arrearages before
conversion of our subordinated units can occur.
Limited
partners may be required to pay taxes on their share of our income even if they
do not receive any cash distributions from us.
Because
our unitholders will be treated as partners to whom we will allocate taxable
income which could be different in amount than the cash we distribute, limited
partners will be required to pay any federal income taxes and, in some cases,
state and local income taxes on their share of our taxable income even if no
cash distributions were received from us.  Our taxable income for a
taxable year may include income without a corresponding receipt of cash by us,
such as accrual of future income, original issue discount or cancellation of
indebtedness income.  We may not pay cash distributions equal to a
limited partner's share of our taxable income or even equal to the actual tax
liability that results from that income.
Item
9.01                     Financial
Statements and Exhibits.
Exhibit
No.
Description
99.1
Press
      Release of Eagle Rock Energy Partners, L.P. dated April 29, 2009
      (furnished under Item 7.01).
SIGNATURE
Pursuant
to the requirements of the Securities Exchange Act of 1934, the registrant has
duly caused this report to be signed on its behalf by the undersigned thereunto
duly authorized.
EAGLE
      ROCK ENERGY PARTNERS, L.P.
By:
Eagle
      Rock Energy GP, L.P.,
its
      general partner
By:
Eagle
      Rock Energy G&P, LLC,
its
      general partner
Date:
      April 29, 2009
By:
/s/
      Joseph A. Mills
Joseph
      A. Mills
Chief
      Executive Officer
EXHIBIT
INDEX
Exhibit
No.
Description
99.1
Press
      Release of Eagle Rock Energy Partners, L.P. dated April 29, 2009
      (furnished under Item
7.01).