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: Working shoulder to shoulder, with TDW
In this episode, Elizabeth Corner speaks to Matt Romney, Product Line Director for Pipeline Integrity, T.D. Williamson, about TDW's perspective on the benefits of working with pipeline membership organisations.
B.C. First Nations to acquire an equity interest in Enbridge’s Westcoast Pipeline System
Stonlasec8 has also reached an agreement with Canada Indigenous Loan Guarantee Corporation (CILGC), a subsidiary of Canada Development Investment Corporation (CDEV), on a CAN$400 million loan guarantee to support the transaction.
