Vanguard to acquire properties in North Louisiana and East Texas
Vanguard Natural Resources LLC has entered into a definitive agreement to acquire natural gas, oil, and natural gas liquids (NGL) assets in North Louisiana and East Texas for a purchase price of US$ 278 million from Hunt Oil Co.
The properties consist of 23 000 net acres that are currently producing 17.5 million ft3/d with 67% natural gas and 33% oil and NGL. The effective date of the acquisition is 1 June , and the company anticipates closing this acquisition on or before 1 October.
Vanguard intends to fund this acquisition with borrowings under its existing reserve-based credit facility.
Adapted from press release by Hannah Priestley-Eaton
Read the article online at: https://www.worldpipelines.com/business-news/05082014/vanguard-to-acquire-properties-in-north-louisiana-and-east-texas/
You might also like
World Pipelines Podcast: Going global with IPLOCA
In this episode, Elizabeth Corner speaks to Georges Hage, Executive Secretary at IPLOCA, about IPLOCA's insights on the culture and characteristics of the pipeline contractor community, and how it works to support sustainable energy infrastructure.
Oil and gas companies add renewable fuels to low-carbon portfolio, says GlobalData
Share of fossil fuels in the world’s energy mix declined from 82% in 2022 to 81.5% in 2023.
