May 20, 2016 - 2:10 AM EDT
Print Email Article Font Down Font Up
VANGUARD NATURAL RESOURCES, LLC FILES (8-K/A) Disclosing Completion of Acquisition or Disposition of Assets, Regulation FD Disclosure, Financial Statements and Exhibits

Item 2.01. Completion of Disposition of Assets.

On May 19, 2016, pursuant to a Purchase and Sale Agreement dated March 29, 2016 (the "Purchase Agreement"), Vanguard, and wholly owned subsidiary Vanguard Operating, LLC ("Vanguard Operating"), completed the divestiture of natural gas, oil and natural gas liquids assets in the SCOOP/STACK area in Oklahoma to NonOp Solutions III, L.P. and NonOp Solutions IV LP, entities managed by Titanium Exploration Partners, LLC for an adjusted purchase price of $272.5 million (the "SCOOP/STACK Divestiture"). The purchase price is subject to final purchase price adjustments to be determined based on the transaction's effective date of January 1, 2016.

Item 7.01 Regulation FD Disclosure

On May 19, 2016, the Company issued a press release announcing the completion of the SCOOP/STACK Divestiture and its updated 2016 outlook, a copy of which is being furnished as an exhibit to this report on Form 8-K and is incorporated by reference into this Item 7.01.

Item 9.01 Financial Statements and Exhibits

(b) Pro Forma Financial Information.
The unaudited pro forma condensed combined consolidated financial information of
Vanguard, as adjusted for the SCOOP/STACK Divestiture, as of and for the three
months ended March 31, 2016, and as adjusted for the LRE Merger, the Eagle Rock
Merger and the SCOOP/STACK Divestiture, for the year ended December 31, 2015,
and the notes related thereto, are attached hereto as Exhibit 99.2 and
incorporated herein by reference.
(d) Exhibits.

Exhibit Number                                 Description

Exhibit 99.1            Press Release dated May 19, 2016.
Exhibit 99.2            Unaudited pro forma condensed combined consolidated
                        financial information of Vanguard, as adjusted for the
                        SCOOP/STACK Divestiture, as of and for the three months
                        ended March 31, 2016 and as adjusted for the LRE Merger,
                        the Eagle Rock Merger and the SCOOP/STACK Divestiture,
                        for the year ended December 31, 2015.




--------------------------------------------------------------------------------

DISCLOSURE: The views and opinions expressed in this article are those of the authors, and do not represent the views of equities.com. Readers should not consider statements made by the author as formal recommendations and should consult their financial advisor before making any investment decisions. To read our full disclosure, please go to: http://www.equities.com/disclaimer


Source: Equities.com News (May 20, 2016 - 2:10 AM EDT)

News by QuoteMedia
www.quotemedia.com

Legal Notice