PreferredStockChannel
Preferred Stock Offerings
By Preferred Stock Channel Staff, updated Wed, September 28, 6:40 AM
| This Slide: #387 of 585 |
Slide #387. Vanguard Natural Resources, LLC — Preferred Stock Offering
Company:
Vanguard Natural Resources, LLC (VNR)
Date announced:
9/10/2014
Shares Offered:
4,000,000
Date of Pricing:
9/11/2014
Price Per Share:
$25
Preferred Stock Offering Details:
Vanguard Natural Resources, LLC (NASDAQ:VNR) (the "Company") today announced that it has commenced a public offering of Series C Cumulative Redeemable Perpetual Preferred Units ("Series C Preferred Units") pursuant to an effective shelf registration statement on Form S-3, as amended, filed with the Securities and Exchange Commission (the "SEC"). The Company will grant the underwriters a 30-day option to purchase additional Series C Preferred Units. The Company intends to use the net proceeds from the offering to repay a portion of its indebtedness outstanding under its senior secured revolving credit facility. - updated 9/11 - Vanguard Natural Resources, LLC (NASDAQ:VNR) (the "Company") today announced the pricing of its public offering of 4,000,000 of its 7.75% Series C Cumulative Redeemable Perpetual Preferred Units ("Series C Preferred Units") at a price of $25.00 per unit. The underwriters have been granted a 30-day option to purchase up to an additional 600,000 Series C Preferred Units from the Company at the public offering price less the underwriting discount. Distributions will be payable on the Series C Preferred Units at an initial rate of 7.75% per annum of the stated liquidation preference of $25.00. The offering is expected to close on September 15, 2014, subject to customary closing conditions.
Vanguard Natural Resources is engaged the acquisition and development of oil and natural gas properties. At Dec 31 2015, Co. owned the following properties and oil and natural gas reserves: the Green River Basin in Wyoming; the Permian Basin in West Texas and New Mexico; the Gulf Coast Basin in Texas, Louisiana, Mississippi and Alabama; the Anadarko Basin in Oklahoma and Texas; the Piceance Basin in Colorado; the Big Horn Basin in Wyoming and Montana; the Arkoma Basin in Arkansas and Oklahoma; the Williston Basin in North Dakota and Montana; the Wind River Basin in Wyoming; and the Powder River Basin in Wyoming. At Dec 31 2015, Co.'s total estimated net proved reserves were 2,288.9 Bcfe.
Preferreds: VNRAP, VNRBP, VNRCP
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Avg. Broker Rec.
 
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Hold (2.00 out of 4) 73rd percentile
(ranked higher than approx. 73% of all stocks covered)
Based on data provided by Zacks Investment Research via Quandl.com |
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