VNR completes natural gas resources acquisition in North Louisiana
Vanguard Natural Resources it consummated the previously announced acquisition of natural gas, oil and natural gas liquids assets in North Louisiana and East Texas for an adjusted purchase price of $274.7 million.
The Company funded this acquisition with borrowings under its existing reserve-based credit facility and proceeds from sales of common and preferred units under its ATM program.
As of August 31, 2014 and pro forma for the financing for this acquisition, the company has borrowings under its reserved based credit facility of $950 million which leaves approximately $575 million of undrawn capacity before consideration of the expected borrowing base increase related to this acquisition.
Press Release, September 2, 2014