* Vanguard buys from a unit of oil and gas producer Anadarko
* Natural gas constitutes 80 pct of output from the assets
* Deal to boost Vanguard's daily output by 55 pct on closing
Dec 30 Vanguard Natural Resources LLC
said it would buy 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.
The transaction with Anadarko E&P Onshore LLC includes
properties that span 14,000 net acres and produce about 113.4
million cubic feet equivalent per day.
Natural gas constitutes about 80 percent of production at
the newly acquired properties, with natural gas liquids bringing
in 16 percent. Oil comprises the rest.
Vanguard Natural buys and develops oil and gas assets in
Wyoming's Bighorn basin.
The company also has assets across Permian Basin in West
Texas and New Mexico, the Arkoma basin in Arkansas and Oklahoma,
the Williston Basin in North Dakota and Montana, Mississippi,
and South Texas.