Vanguard Natural Resources, LLC announced Tuesday that on April 1, 2013 it consummated the previously announced acquisition of natural gas, oil and natural gas liquids assets in the Permian Basin located in southeast New Mexico and West Texas from two subsidiaries of Range Resources Corporation for an adjusted purchase price of $268.8 million, subject to customary final post-closing adjustments. The effective date of the acquisition is January 1.
The Company expects the following significant benefits from the acquisition:
The Company funded this acquisition with borrowings under its existing reserve-based credit facility.
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