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Vanguard Natural Resources Acquires South Texas Properties

Vanguard Natural Resources, Llc Lewis Energy
AnnouncedAug 18, 2009
TypeProperty
Announced Date
August 18,2009
Close Date
August 18,2009
Transaction Type
Property




Snapshot
Location
Region
Mid-Continent

Country
United States

State
Oklahoma

Production
Production


Transaction Details:  Subscribe to see

Vanguard Natural Resources, LLC today announced it has closed its previously announced acquisition of certain producing natural gas and oil properties in South Texas from an affiliate of Lewis Energy Group, L.P. for a purchase price of $52.25 million in cash. After preliminary purchase price adjustments based on an effective date of July 1, 2009, Vanguard paid $50.5 million in cash. The purchase price was funded from borrowings under our reserve-based credit facility and proceeds from the sale of 3.5 million common units completed on August 12, 2009.
The properties acquired have total…

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