New User:

-or-
Username:
Password:
Forgot your password?

Stock Market & Financial Investment News

News Breaks
August 4, 2014
07:33 EDTVNRVanguard Natural to acquire properties in Louisiana, Texas from Hunt Oil
Vanguard Natural Resources announced it has entered into a definitive agreement to acquire natural gas, oil and natural gas liquids assets in North Louisiana and East Texas for a purchase price of $278M from Hunt Oil Company. The properties consist of approximately 23,000 net acres that are currently producing approximately 17.5 MMcfe per day with approximately 67% natural gas and 33% oil and NGLs. The effective date of the acquisition is June 1, 2014 and the Company anticipates closing this acquisition on or before October 1, 2014. The company intends to fund this acquisition with borrowings under its existing reserve-based credit facility. Highlights of the acquisition include: Immediately accretive to distributable cash flow at closing; Estimated reserve life of over 23 years based on internally estimated proved reserves of approximately 150 Bcfe.
News For VNR From The Last 14 Days
Sign up for a free trial to see the rest of the stories you've been missing.
There are no results for VNR

Sign up for a free trial to see the rest of the stories you've been missing.

I agree to the theflyonthewall.com disclaimer & terms of use