Vanguard Natural Resources, LLC (NYSE: VNR) (the “Company”) today
announced the pricing of its public offering of 6,000,000 common units
representing limited liability company interests in the Company at a
price of $27.51 per unit. The underwriters have been granted a 30-day
option to purchase up to an additional 900,000 common units from the
Company at the public offering price less the underwriting discount. The
offering is expected to close on September 17, 2012, subject to
customary closing conditions.
The Company expects to receive net proceeds of approximately $158.5
million (or approximately $182.3 million if the underwriters exercise
their option to purchase an additional 900,000 common units), after
deducting underwriting discounts and estimated offering expenses, from
the offering and intends to use the net proceeds from the offering to
repay a portion of its indebtedness outstanding under its senior secured
revolving credit facility.
Wells Fargo Securities, BofA Merrill Lynch, Barclays, Citigroup, J.P.
Morgan, RBC Capital Markets, Deutsche Bank Securities and UBS Investment
Bank are joint book-running managers for the offering. An investor may
obtain a free copy of the prospectus supplement and accompanying base
prospectus relating to the offering by visiting EDGAR on the SEC website
at www.sec.gov.
When available, a copy of the prospectus supplement and accompanying
base prospectus relating to the offering also may be obtained from:
Wells Fargo Securities
Attn: Equity Syndicate Dept.
375 Park
Avenue
New York, NY 10152
Phone: (800) 326-5897
Email: cmclientsupport@wellsfargo.com
BofA Merrill Lynch
222 Broadway, 7th Floor, New York, NY 10038
Attn:
Prospectus Department
Email: dg.prospectus_requests@baml.com
Barclays
c/o Broadridge Financial Solutions
1155 Long Island
Ave.
Edgewood, NY 11717
Email: barclaysprospectus@broadridge.com
Citigroup
Attention: Prospectus Dept., Brooklyn Army Terminal
140
58th Street, 8th floor
Brooklyn, NY 11220
Phone: (800) 831-9146
Email:
batprospectusdept@citi.com
J.P. Morgan
c/o Broadridge Financial Solutions
1155 Long
Island Avenue
Edgewood, NY 11717
Phone: (866) 803-9204
RBC Capital Markets
Three World Financial Center
200 Vesey
Street, 10th Floor
New York, NY 10281-8098
Email: CM-USA-Prospectus@rbc.com
Deutsche Bank Securities Inc.
Attention: Prospectus Group
60
Wall Street
New York, NY 10005-2836
Email: prospectus.cpdg@db.com
Phone:
(800) 503-4611
UBS Investment Bank
Attention: Prospectus Dept.
299 Park Avenue
New
York, NY 10171
Phone: (877) 827-6444, ext. 561 3884
The shelf registration statement relating to these securities has
previously been filed with the Securities and Exchange Commission (the
“SEC”) and automatically deemed effective. This press release does not
constitute an offer to sell or a solicitation of an offer to buy common
units or any other securities, nor shall there be any sale of these
securities in any jurisdiction in which such an offer, solicitation or
sale would be unlawful prior to registration or qualification under the
securities laws of any such jurisdiction. The offering of these
securities may be made only by means of the prospectus supplement and
the related base prospectus.
About Vanguard Natural Resources, LLC
Vanguard Natural Resources, LLC is a publicly traded limited liability
company focused on the acquisition, production and development of oil
and natural gas properties. The Company's assets consist primarily of
producing and non-producing oil and natural gas reserves located in the
Permian Basin in West Texas and New Mexico, the Big Horn Basin in
Wyoming and Montana, the Arkoma Basin in Arkansas and Oklahoma, the
Williston Basin in North Dakota and Montana, Mississippi, and South
Texas. More information on Vanguard can be found at www.vnrllc.com.
Forward-Looking Statements
We make statements in this news release that are considered
forward-looking statements within the meaning of the Securities Exchange
Act of 1934. These forward-looking statements are largely based on our
expectations, which reflect estimates and assumptions made by our
management. These estimates and assumptions reflect our best judgment
based on currently known market conditions and other factors. Although
we believe such estimates and assumptions to be reasonable, they are
inherently uncertain and involve a number of risks and uncertainties
that are beyond our control. In addition, management's assumptions about
future events may prove to be inaccurate. Management cautions all
readers that the forward-looking statements contained in this news
release are not guarantees of future performance, and we cannot assure
you that such statements will be realized or the forward-looking events
and circumstances will occur. Actual results may differ materially from
those anticipated or implied in the forward-looking statements due to
factors listed in the "Risk Factors" section in our SEC filings and
elsewhere in those filings. All forward-looking statements speak only as
of the date of this news release. We do not intend to publicly update or
revise any forward-looking statements as a result of new information,
future events or otherwise.
