Vanguard Natural Resources LLC announced the acquisition of LRE GP LLC, the general partner of LRR Energy LP, for $539 million. The consideration comprises $251 million in Vanguard common units and the assumption of $288 million of LRE's net debt. As part of the arrangement, a subsidiary of Vanguard will merge with LRR Energy LP.
Bloomberg reports, quoting people familiar with the matter, that Encana Corporation is considering the sale of its natural gas assets in Haynesville Shale Basin acreage, Louisiana.
Chariot Oil and Gas revealed that Woodside will not exercise its option to take over the operatorship or fund the drilling of an exploration well in the Rabat Deep Offshore permit, Morocco.