Louisiana News at a Glance: Vanguard Buys Certain Hunt Oil Assets

Baker Hughes

Houston-based Vanguard Natural Resources LLC (NASDAQ: VNR) has entered a definitive agreement to acquire natural gas, oil, and natural gas liquids (NGL) assets in North Louisiana and East Texas for $278 million from Dallas-based Hunt Oil Co.

The properties, including Cotton Valley and East Haynesville, consist of approximately 23,000 net acres that are currently producing approximately 17.5 million cubic feet of gas equivalent per day with approximately 67% natural gas and 33% oil and NGLs.

“Along with an established base of producing assets, this acquisition features an inventory of behind pipe and low risk vertical drilling projects that we will begin to develop in 2015,” said Scott Smith, president and chief executive officer, Vanguard. “In addition, based on our initial evaluation work, we believe there is the potential for meaningful horizontal drilling opportunities across some of the operated assets.”

KNF

The effective date of the acquisition was June 1, and the company anticipates closing this acquisition on or before October 1.

 

CCUS


Maintaining High Security and Pipeline Peace of Mind: Part III


Photographic Artist: ‘Commissions And A Following’ From Locked Gates To New Opportunities: Part III


Texas News at a Glance: Pioneer Sells Assets, Focuses on Permian


Texas News at a Glance: FERC Approves Freeport LNG Export Project


Shale Power: The Modern Day Industrial Revolution


Mission Vets Helps Bridge the Gap Between the End of Service and Beginning of Civilian Life


Texaco Terminal & Tankers


Texas News at a Glance: Wolfcamp Capital Spend Could Exceed Bakken by 2017


Black Jack Energy Services LLC


The U.S. Oil Export Ban. Is Repeal Imminent?


Texaco Tanker at the Port of Corpus Christi


Mexico & North America’s Energy


Network & Technology Integration Bridge the Gap for the Oil & Gas Industries


Key Things to Consider When Selling and Marketing to Oilfield Businesses


Oklahoma News at a Glance: Commercial GTL Plant Construction Underway


3G Manifold


U.S. DOT Proposes New Rules for Crude Oil Transport


Sinclair Oil Refinery


Oilman Cartoon: Cartel E & P/South Texas Drilling Rig Security


Louisiana News at a Glance: Vanguard Buys Certain Hunt Oil Assets


Regulations Linked To Lack Of Education


Oklahoma News at a Glance: ONEOK Partners Invests In SCOOP


NG Set To Be Leading Fuel for Electric Power Consumption


The Demonization Of Keystone XL Goes International


Fracking in the Digital Landscape – 2014 Makovsky Report


Midsouth Technology


How to Get & Stay #Connected Starting with #Twitter


Louisiana News at a Glance: Workforce Partnership Targets Deep-Water Exploration


Oklahoma News at a Glance: Tallgrass Energy Partners Consider Pony Express Acquisition


Louisiana News at a Glance: JV to Construct Pipeline Extension from Cajun-Sibon


Third Coast Underwriters

Liquidity