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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.
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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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