Merger Completed between Vanguard, Encore

Vanguard and Encore jointly announced that the merger of Encore into a wholly-owned subsidiary of Vanguard completed effective Thursday, December 1, 2011.

"The completion of the merger between Vanguard and Encore is a milestone event for the company and our unitholders. With this transaction, we more than doubled our reserves and production and have expanded our operating platform in the prolific Permian Basin and established new oil focused operating areas in the Big Horn Basin in Northwest Wyoming and in the Williston Basin in North Dakota and Montana. Since the closing of the initial Denbury purchase in December of last year, we have successfully integrated the operations of the two companies and now, as a single, much larger entity, we are looking forward to continuing our track record of growing reserves and distributions on behalf of our unitholders," said Scott W. Smith, president and chief executive officer of Vanguard.

Under the merger agreement, each Encore unitholder will receive 0.75 Vanguard common units for each Encore common unit they own. Cash will be paid to Encore unitholders in accordance with the merger agreement in lieu of any fractional units they otherwise would have been entitled to receive.


Our Privacy Pledge

Most Popular Articles

From the Career Center
Jobs that may interest you
Project Controls Specialist
Expertise: Project Management
Location: Minneapolis
Business Development Manager
Expertise: Business Development|Construction Manager|Sales
Location: West Sacramento, CA
Business Development Manager
Expertise: Business Development|Construction Manager|Sales
Location: Denver, CO
search for more jobs

Brent Crude Oil : $50.79/BBL 1.30%
Light Crude Oil : $49.96/BBL 1.10%
Natural Gas : $2.77/MMBtu 2.12%
Updated in last 24 hours