Vanguard Natural Resources Closes $549.1 Million Acquisition Of Wyoming Properties

Transaction Type
Sellers
Buyers
Announce Date
Post Date
Close Date
Estimated Price
549MM
Description

Acquired 87,000 gross/14,000 net acres in the Pinedale and Jonah fields with 113.4 MMcfe/d of production.

Vanguard Natural Resources LLC (Nasdaq: VNR) announced Feb. 3 that it completed the acquisition of natural gas and oil properties in the Pinedale and Jonah fields of Southwestern Wyoming for an adjusted purchase price of $549.1 million.

Houston's Vanguard gained about 87,000 gross acres (14,000 net) that produce roughly 113.4 million cubic feet equivalent per day (MMcfe/d), 80% natural gas, 4% oil and 16% natural gas liquids (NGLs).

The seller was not disclosed. However, David Tameron, senior analyst for Wells Fargo Securities, speculated in a December report that Anadarko Petroleum Corp. (NYSE: APC) could be the seller.

The transaction closed Jan. 31 with an effective date of Oct. 1.