Vanguard Natural Resources LLC said it would purchase natural gas and oil properties in the Pinedale and Jonah fields of southwestern Wyoming for $581 million from a unit of Anadarko Petroleum Corp.Vanguard Natural shares rose 1 percent to $29.27 in early trading on Monday, while those of oil and gas producer Anadarko were unchanged at $79.45.The deal would increase daily output by 55 percent and add to distributable cash flow immediately upon closing, expected on or before Jan. 31, Vanguard Natural said.Vanguard produced 35,250 barrels of oil equivalent per day in the third quarter ended Sept. 30.
Anadarko Petroleum Corporation (Anadarko) is an independent exploration and production company. Shares of APC traded higher by 0.25% or $0.2/share to $79.60. In the past year, the shares have traded as low as $71.77 and as high as $98.47. On average, 4009850 shares of APC exchange hands on a given day and today's volume is recorded at 116065.
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 0.79% or $0.2301/share to $29.40. 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 97370.
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