Vanguard Natural closes previously announced acquisition for $328.8M Vanguard Natural Resources (VNR) announced that on December 31 it consummated the previously announced acquisition of natural gas and liquids assets from Bill Barrett Corporation (BBG) for an adjusted purchase price of $328.8M, subject to customary final post-closing adjustments. The effective date of the acquisition is October 1. The company expects the following benefits from the acquisition: immediately accretive to distributable cash flow; company estimated proved reserves of approximately 300 Bcfe, 80% proved developed and 86% natural gas; reserve to production ratio of approximately 13 years; current net production of approximately 65 MMcfe/d from 2,822 gross wells; significantly hedged the expected natural gas and oil production for the next four years.
On The Fly: Analyst Upgrade Summary Today's noteworthy upgrades include: AB InBev (BUD) upgraded to Buy from Hold at Berenberg... Air Lease (AL) upgraded to Overweight from Neutral at JPMorgan... Aircastle (AYR) upgraded to Neutral from Underweight at JPMorgan... AmTrust (AFSI) upgraded to Buy from Neutral at Compass Point... Anadarko (APC) upgraded to Focus List from Outperform at Scotia Howard Weil... BAE Systems (BAESY) upgraded to Neutral from Underweight at JPMorgan... Bill Barrett (BBG) upgraded to Outperform from Sector Perform at Scotia Howard Weil... Extra Space Storage (EXR) upgraded to Strong Buy from Outperform at Raymond James... Medtronic (MDT) upgraded to Conviction Buy from Buy at Goldman... Mylan (MYL) upgraded to Buy from Neutral at Citi... Scripps Networks (SNI) upgraded to Outperform from Underperform at CLSA... Toll Brothers (TOL) upgraded to Overweight from Neutral at JPMorgan... Wal-Mart (WMT) upgraded to Buy from Neutral at Northcoast... Weir Group (WEIGY) upgraded to Buy from Hold at Deutsche Bank... Weyerhaeuser (WY) upgraded to Outperform from Underperform at CLSA... Yelp (YELP) upgraded to Outperform from Sector Perform at RBC Capital.