May 21, 2015, 6:37 PM
- Eagle Rock Energy Partners (NASDAQ:EROC) is up 20% after hours as Vanguard Natural Resources (NASDAQ:VNR) has a deal to acquire it for about $614M.
- A subsidiary of Vanguard will merge into Eagle Rock for $474M in Vanguard common units along with assumption of $140M in Eagle Rock's net debt.
- Both boards have signed off on the tax-free deal, which they expect to close in the third quarter.
- Vanguard recently agreed to acquire LRR Energy for $539M, and said the board of LRR's general partner has consented to the Eagle Rock deal.
- Vanguard has set a conference call to discuss the deal for Tuesday, May 26, at 11 a.m. ET.
Apr. 21, 2015, 7:48 AM
- Vanguard Natural Resources (NASDAQ:VNR) agrees to acquire LRR Energy (NYSE:LRE) in a cash and stock deal totaling $539M.
- The deal will be a tax-free unit-for-unit transaction with an exchange ratio of 0.55 VNR common units per LRE common unit.
- VNR says LRE's long-life, low-decline, mature assets are well-suited for its upstream MLP model, the assets add additional scale to its existing Permian and Arkoma Basins, and production of ~40MM cfe/day will increase its current production by 10%.
- VNR +3.2%, LRE +7.9% premarket.
Oct. 1, 2014, 7:45 AM
- Vanguard Natural Resources (NASDAQ:VNR) completes its previously announced acquisition of Bill Barrett (NYSE:BBG) for an adjusted price of $508M, and says the deal will be immediately accretive to distributable cash flow at closing.
- The acquisition includes an average working interest of 78% in ~950 producing wells, 119 recompletion projects and 94 proved undeveloped vertical drilling locations.
- VNR's borrowing base is increased to $2B from $1.525B.
Aug. 4, 2014, 7:42 AM
- Vanguard Natural Resources (NASDAQ:VNR) agrees to acquire natural gas, oil and natural gas liquids assets in north Louisiana and east Texas from Hunt Oil for $278M.
- The properties consist of ~23K net acres currently producing ~17.5M cfe/day, two-thirds natural gas and one-third oil and NGLs.
- VNR says the acquisition will be immediately accretive to distributable cash flow at closing.
Jan. 3, 2013, 10:07 AM
Vanguard Natural Resources (VNR +0.5%) closes the purchase of natural gas and liquids properties from Bill Barrett (BBG +1.2%) for ~$328M, and says the acquisitions would immediately add to cash flow. The properties hold proved reserves equal to ~300B cu. ft. of gas and current production of ~65M cu. ft./day from 2,822 wells.| Jan. 3, 2013, 10:07 AM
Nov. 1, 2012, 8:19 AM
Bill Barrett (BBG) agrees to sell certain non-core natural gas assets including all Wind River Basin natural gas producing properties, the Powder River Basin coal bed methane assets and a working interest in its Gibson Gulch-Piceance Basin development property, to an affiliate of Vanguard Natural Resources (VNR) for $335M.| Nov. 1, 2012, 8:19 AM | 1 Comment
Jun. 4, 2012, 7:18 AM
Vanguard Natural Resources (VNR) says it will pay $445M to purchase shale fields in the Arkoma Basin from Antero Resources. The company expects the deal to close before June 29 and to be immediately accretive to cash flow.| Jun. 4, 2012, 7:18 AM | 1 Comment