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.
News For VNR;BBG From The Last 14 Days
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National Association of Publicly Traded Partnerships to host a conference 2013 MLP Investor Conference is being held in Stamford, CT on May 21-23 with webcasted company presentations to begin on May 22 at 8 am; not all company presentations may be webcasted. Webcast Link