Key Developments: Vanguard Natural Resources LLC (VNR.O)
29.48USD
20 May 2013
$-0.16 (-0.52%)
$29.63
$29.50
$29.62
$29.42
351,034
469,098
$30.22
$22.81
Latest Key Developments (Source: Significant Developments)
Vanguard Natural Resources LLC To Switch Stock Exchange Listing To The NASDAQ Stock Market-VerticalNews
VerticalNews reported that Vanguard Natural Resources LLC's intention to voluntarily transfer its stock exchange listing from the New York Stock Exchange (NYSE) to The NASDAQ Global Select Market (NASDAQ), an exchange of The NASDAQ OMX Group Inc. (Nasdaq: NDAQ). Vanguard currently expects that its Class A common units will commence trading on the NASDAQ on April 23, 2013 and will continue to be listed under the ticker symbol VNR. Vanguard's common units will continue to trade on the NYSE until the transfer has been completed. Full Article
Vanguard Natural Resources LLC Announces Monthly Distribution
Vanguard Natural Resources LLC announced that the Board of Directors has declared a cash distribution attributable to the month of March 2013 of $0.2025 per unit ($2.43 on an annual basis) payable on May 15, 2013 to unit holders of record on May 1, 2013. Full Article
Vanguard Natural Resources LLC Announces Closing Of Assets In Permian Basin From Range Resources Corp
Vanguard Natural Resources LLC announced that on April 1, 2013 it consummated the previously announced acquisition of natural gas, oil and natural gas liquids assets in the Permian Basin located in southeast New Mexico and West Texas from two subsidiaries of Range Resources Corporation for an adjusted purchase price of $268.8 million. The effective date of the acquisition is January 1, 2013. Full Article
Vanguard Natural Resources LLC Announces Monthly Distribution
Vanguard Natural Resources LLC announced that its board of directors has declared a cash distribution attributable to the month of February 2013 of $0.2025 per unit ($2.43 on an annual basis) payable on April 12, 2013 to unitholders of record on April 1, 2013. Full Article
Vanguard Natural Resources LLC Raises FY 2013 EBITDA Guidance-Conference Call
Vanguard Natural Resources LLC announced that for fiscal 2013, it expects to generate approximately $303 million in adjusted EBITDA. According to I/B/E/S Estimates, analysts are expecting the Company to report EBITDA of $331 million for fiscal 2013. Full Article
Vanguard Natural Resources LLC Signs Agreement To Acquire Properties In Permian Basin
Vanguard Natural Resources LLC announced it has entered into a definitive agreement to acquire natural gas, oil and natural gas liquids assets in the Permian Basin located in southeast New Mexico and West Texas for a purchase price of $275 million from Range Resources Corporation. The properties being sold consist of approximately 7,000 net acres that are currently producing approximately 17 Mmcfe per day with approximately 41% being natural gas and 59% oil and NGLs. Based on internal reserve estimates, proved developed reserves account for 78% of the total 137 Bcfe. The effective date of the acquisition is January 1, 2013 and the Company anticipates closing this acquisition on or before April 1, 2013. The Company intends to fund this acquisition with borrowings under its existing reserve-based credit facility. Full Article
Vanguard Natural Resources LLC Announces Monthly Distribution
Vanguard Natural Resources LLC announced that its board of directors has declared a cash distribution attributable to the month of January 2013 of $0.2025 per unit ($2.43 on an annual basis) payable on March 15, 2013 to unitholders of record on March 1, 2013. Full Article
Vanguard Natural Resources LLC Announces Closing Of Its Public Offering of 8,000,000 Common Units Including Full Exercise Of Underwriters Option To Purchase Additional Common Units
Vanguard Natural Resources LLC announced the closing of its previously announced public offering of 8,000,000 common units representing limited liability company interests in the Company at a price of $27.85 per unit. The total of 9,200,000 common units includes the 8,000,000 common units and an additional 1,200,000 common units purchased pursuant to the underwriters` full exercise of their option to purchase additional common units. The Company intends to use the net proceeds from the offering of approximately $246.1 million, after deducting underwriting discounts and estimated offering expenses, to repay a portion of its indebtedness outstanding under its senior secured revolving credit facility. UBS Investment Bank, BofA Merrill Lynch, Barclays, Wells Fargo Securities, Citigroup, Deutsche Bank Securities, J.P. Morgan, Morgan Stanley and RBC Capital Markets are joint book-running managers for the offering. Full Article
Vanguard Natural Resources LLC Announces Pricing Of Public Offering Of 8,000,000 Common Units
Vanguard Natural Resources LLC announced that the pricing of its public offering of 8,000,000 common units representing limited liability company interests in the Company at a price of $27.85 per unit. The underwriters have been granted a 30-day option to purchase up to an additional 1,200,000 common units from the Company at the public offering price less the underwriting discount. The offering is expected to close on February 5, 2013, subject to customary closing conditions.The Company expects to receive net proceeds of approximately $214.0 million (or approximately $246.1 million if the underwriters exercise their option to purchase an additional 1,200,000 common units), after deducting underwriting discounts and estimated offering expenses, from the offering and 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. UBS Investment Bank, BofA Merrill Lynch, Barclays, Wells Fargo Securities, Citigroup, Deutsche Bank Securities, J.P. Morgan, Morgan Stanley and RBC Capital Markets are joint book-running managers for the offering. Full Article
Vanguard Natural Resources LLC Announces Public Offering Of Common Units
Vanguard Natural Resources LLC 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.UBS Investment Bank, BofA Merrill Lynch, Barclays, Wells Fargo Securities, Citigroup, Deutsche Bank Securities, J.P. Morgan, Morgan Stanley and RBC Capital Markets will act as joint book-running managers for the offering. Full Article
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