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Monday, December 30, 2013

Vanguard Natural to purchase oil and gas assets in Wyoming for $581 mln, (NASDAQ: VNR)

Vanguard Natural Resources LLC said it entered into a definitive agreement to purchase natural gas and oil properties in the Pinedale and Jonah fields of southwestern Wyoming for $581 million from an unnamed source. The assets span 14,000 net acres and produce about 113.4 million cubic feet equivalent per day.

Vanguard Natural Resources, LLC (Vanguard) is focused on the acquisition and development of oil and natural gas properties in the United States. Shares of VNR traded higher by 1.18% or $0.34/share to $29.17. In the past year, the shares have traded as low as $24.23 and as high as $29.93. On average, 306708 shares of VNR exchange hands on a given day and today's volume is recorded at 515593.