Vanguard Natural Resources, LLC (NYSE: VNR) (the "Company") today
announced that it has commenced a public offering of 8,000,000 common units
representing limited liability company interests in the Company, pursuant to an
effective shelf registration statement on Form S-3 filed with the Securities and
Exchange Commission on January 18, 2012. The Company will grant the underwriters
a 30-day option to purchase up to an additional 1,200,000 common units. The
Company intends to use the net proceeds from the offering to repay a portion of
its indebtedness outstanding under its senior secured revolving credit facility,
which was incurred in part to fund recent acquisitions.
The recent acquisitions that they have made look like they weren't all that accretive to distributions. There has been almost no growth over the last year, including the start of a new quarter with no change in the monthly for Feb.