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Vanguard Natural Resources: Acquisition Marks A Big Change

Those who follow Vanguard Natural Resources (NYSE:VNR) likely already know that the partnership has announced and closed on its largest single acquisition to date. Early this month Vanguard closed on a $581 million plan to acquire 14,000 net acres of high-margin, dry gas producing land in the Jonah and Pinedale fields of Wyoming. The basics of the deal are as follows:

    A 10% average working interest on 87,000 gross acres. 113.4 million cubic feet equivalent of production per day, Of which 80% is dry, natural gas, 4% is oil and 16% is natural gas liquids. The seller, Anadarko, a major independent oil and gas producer, sold this acreage to invest in US shale plays and in the Gulf ...
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