Vanguard Natural Resources, LLC (VNR) (“Vanguard” or “the Company”) today announced it has entered into a definitive agreement to acquire natural gas and oil properties in the Pinedale and Jonah fields of Southwestern Wyoming for a purchase price of $581 million from an unnamed source. The properties being sold consist of approximately 87,000 gross acres (14,000 net acres) that are currently producing approximately 113.4 Mmcfe per day with approximately 80% being natural gas, 4% oil and 16% natural gas liquids (“NGLs”). The effective date of the acquisition is October 1, 2013 and the Company anticipates closing this acquisition on or before January 31, 2014.
Good things happen to those that have patience.
VNR also will trade X-Distribution Today and will pay the money or drip into additional units on Jan 15,2014.
You don't value the existing production on a per acre basis, you value it based on the production (and of course, the mix of that production).
VNR's deal is good. Not a steal, but it is accretive, it does position them nicely in terms of buying solid well run gas assets that will throw off good cash flow. If gas creeps back towards $5, they'll have plenty of drilling opportunities. I don't see that happening soon, but it beats having to compete for oily assets.
How about that,sport fans?! B&W: Thanks. And it's interesting that VNR is pushing to get additional gas reserves when everyone else is gunning for oil..you have to believe that VNR mgmt is thinking long term. And thanks for remembering the new car bit..took delivery last Friday..beautiful! Best Regards
Yeah, well, this one is a very long term deal. I'm not thrilled they are relying on other people so much, their interest is very small and they have no hands on. I'd prefer they controlled their own fate. And, I'd prefer oil, but that's just me. BTW, there will be an offering, imho.
which car the lexus
which model and give me the pros and cons.
vnr one of my largest holdings and safely tucked away in a retirement acct giving me great income as well as cap gains for many more years to come.
u cant beat great responsible management and vnr has that.has and will continue to give me great income coupled with nice cap.gain returns for many more years with this management.
happy new year to one and all.
ps would love to know who the seller is.
ive been in wy many times and have horse backed all of yellowstone as well as the tetons.
just love the area.