AUSTIN, August 4, 2014 -- Vanguard Natural Resources, LLC today announced it has entered into a definitive agreement to acquire natural gas, oil and natural gas liquids (“NGLs”) assets in North Louisiana and East Texas for a purchase price of $278 million from Hunt Oil Company. The properties consist of approximately 23,000 net acres that are currently producing approximately 17.5 MMcfe per day, with approximately 67% natural gas and 33% oil and NGLs. The effective date of the acquisition is June 1, 2014, and the anticipated closing of the acquisition is on or before October 1, 2014.
Baker Botts represented Hunt Oil in the sale of the assets.
Baker Botts Lawyers/Office Involved: Mike Bengtson (Partner, Austin); Erin Hopkins (Associate, Houston); Lindsey Blankenau (Associate, Houston)
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