Vanguard Natural Resources scoops up 2nd Houston energy company in a month

May 22, 2015 12:43 AM

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Vanguard Natural Resources scoops up 2nd Houston energy company in a month

Houston-based Vanguard Natural Resources LLC (Nasdaq: VNR) announced May 21 it plans to acquire Houston-based Eagle Rock Energy Partners LP (Nasdaq: EROC) in a $614 million deal, including the assumption of Eagle Rock’s $140 million in net debt.

This is Vanguard’s second such deal in a month. Both deals are expected to close in the third quarter, subject to customary closing conditions, with the acquired companies becoming subsidiaries of Vanguard.

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