Vanguard (NYSE: VNR) Makes Major Move in Natural Gas

Brian Hicks

Written By Brian Hicks

Posted January 7, 2014

Houston-based Vanguard Natural Resources (NYSE: VNR) has been gradually shifting away from oil and acquiring natural gas assets. Recently, the company finalized a $581 million mystery acquisition, where it acquired 87,000 gross acres in southwest Wyoming that produce approximately 113.4 Mmcfe of almost entirely natural gas and liquid natural gas.

At first, the company did not announce whom it was acquiring this property from, but an SEC filing revealed it was Andarko E&P Onshore LLC, a subsidiary of Andarko Petroleum Corporation (APC). The deal will close before the end of January, and it will increase the size of Vanguard by approximately 20 percent, and increase its daily production by an estimated 55 percent.

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