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News Breaks
November 15, 2012
07:24 EDTVNRVanguard Natural to acquire properties in Montana for $131M
Vanguard Natural Resources has entered into a definitive agreement with an undisclosed seller to acquire certain non-operated oil and natural gas assets in Montana for a purchase price of $131M. However, the properties under the agreement are subject to a third party’s preferential right to purchase, which expires thirty days after notice. The properties are located in the Bakken trend and are characterized by mature oil production with some associated natural gas production. The properties will be immediately accretive to cash flow and have current net production of approximately 1,100 BOE per day. The effective date of the acquisition is August 1, 2012 and the company anticipates closing this acquisition on or before December 31.
News For VNR From The Last 14 Days
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October 13, 2015
16:15 EDTVNRMontierra Minerals & Production reports 7.54% passive stake in Vanguard Natural
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October 12, 2015
08:47 EDTVNRFBR downgrades two MLPs, feels market 'too dire' on others
FBR Capital analyst Chad Mabry downgraded two Master Limited Partnerships but reiterates Outperform ratings on four others. Mabry cut LINN Energy (LINE) to Underperform from Market Perform saying he does not see any residual value for unit holders unless commodity prices "improve meaningfully." He cut his price target for shares to $2 from $6. Mabry also downgraded Mid-Con Energy (MCEP) to Market Perform from Outperform saying he expects another distribution cut by the end of 2016. He cut his price target for shares to $4 from $6. On the flip side, the analyst reiterates Outperform ratings on Atlas Resource Partners (ARP), Legacy Reserves (LGCY), Memorial Production (MEMP) and Vanguard Natural (VNR). While oil and gas price weakness highlights risks to distribution stability, the market is "discounting too dire a scenario" for certain partnerships, Mabry argues.
October 9, 2015
15:49 EDTVNRVanguard files to sell 14.59M common units for holders
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October 5, 2015
13:02 EDTVNRVanguard Natural, Eagle Rock Energy shareholders approve merger
Vanguard Natural Resources (VNR) and Eagle Rock Energy Partners, L.P. (EROC) announced that the unitholders of Eagle Rock have approved the proposed merger of Eagle Rock and Vanguard and that the unitholders of Vanguard have approved the issuance of common units representing limited liability company interests in Vanguard to be issued as merger consideration to the unitholders of Eagle Rock. At a special meeting held by Eagle Rock, approximately 62% of Eagle Rock's outstanding common units (representing approximately 96% of all votes cast) were voted in favor of the merger. At Vanguard's annual meeting, approximately 93% of votes cast by Vanguard unitholders were in favor of the issuance of the Vanguard common units. Both approval levels satisfy the requisite closing conditions to consummate the merger. Vanguard and Eagle Rock expect the transaction to close on October 8.
October 1, 2015
11:10 EDTVNRVanguard Natural to host special shareholder meeting
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