Vanguard Natural says low oil and gas prices sparked its two big deals

• Low oil and gas prices contributed to Vanguard Natural Resources' (NYSE:VNR) decision to make two significant acquisitions in less than 40 days - acquiring Eagle Rock Energy Partners (NASDAQ:EROC) one month after a deal to buy LRR Energy (NYSE:LRE) - CFO Richard Robert said in a conference call today, noting the company received consent from LRE to proceed with both deals simultaneously.
• Robert says the expanded VNR will be well positioned when the commodity price recovers, and that the deals strengthen the company’s asset base while also boosting its liquidity and flexibility to reduce its debts moving forward.
• VNR says it is postponing its June 4 annual meeting for a to-be-determined date so unitholders can also vote to approve the EROC deal.