M&A Deal Summary

Vanguard Natural Resources Acquires LRR Energy

On April 20, 2015, Vanguard Natural Resources acquired oil/gas exploration company LRR Energy from Lime Rock Resources for 539M USD

Acquisition Highlights
  • This is Vanguard Natural Resources’ 1st transaction in the Oil/Gas Exploration sector.
  • This is Vanguard Natural Resources’ largest (disclosed) transaction.
  • This is Vanguard Natural Resources’ 1st transaction in the United States.
  • This is Vanguard Natural Resources’ 1st transaction in Texas.

M&A Deal Summary

Date 2015-04-20
Target LRR Energy
Sector Oil/Gas Exploration
Buyer(s) Vanguard Natural Resources
Sellers(s) Lime Rock Resources
Deal Type Add-on Acquisition
Deal Value 539M USD
Advisor(s) Tudor, Pickering, Holt & Co., LLC (Financial)
Andrews Kurth Kenyon LLP
Richards, Layton & Finger PA (Legal)

Target

LRR Energy

Houston, Texas, United States
website
LRR Energy LP is a Delaware limited partnership formed in April 2011 by affiliates of Lime Rock Resources to operate, acquire, exploit and develop producing oil and natural gas properties in North America.

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Buyer(S) 1

Buyer

Vanguard Natural Resources

Houston, Texas, United States

website


Category Company
Founded 2006
Sector Oil/Gas Exploration
Employees381
Revenue 567M USD (2015)
DESCRIPTION

Vanguard Natural Resources LLC is an acquirer and producer of oil and natural gas properties in the United States. Vanguard Natural Resources, Inc has voluntarily filed petitions for relief under chapter 11 of the U.S. Bankruptcy Code in the U.S. Bankruptcy Court as on April, 2019.


DEAL STATS #
Overall 1 of 2
Sector (Oil/Gas Exploration) 1 of 2
Type (Add-on Acquisition) 1 of 2
State (Texas) 1 of 2
Country (United States) 1 of 2
Year (2015) 1 of 2
Size (of disclosed) 1 of 1
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2015-10-08 Eagle Rock Energy Partners

Houston, Texas, United States

Eagle Rock Energy Partners, L.P. is a growth-oriented master limited partnership engaged in (a) the exploitation, development, and production of oil and natural gas properties and (b) ancillary gathering, compressing, treating, processing and marketing services with respect to its production of natural gas, natural gas liquids, condensate and crude oil.

Buy -

Seller(S) 1

SELLER

Lime Rock Resources

Houston, Texas, United States

Investor Investor Investor Investor Investor

website


Category Private Equity Firm
Founded 2005
PE ASSETS 2.9B USD
Size Large
Type Sector Focused
DESCRIPTION

Lime Rock Resources, an affiliate of Lime Rock Partners, is a private investment firm formed to acquire, operate, and improve lower-risk oil and gas properties. The Group looks for assets throughout the US including mature fields as well as properties with some additional drilling opportunities. Lime Rock Resources was formed in 2005 and is based in Houston, Texas.


DEAL STATS #
Overall 1 of 2
Sector (Oil/Gas Exploration) 1 of 1
Type (Add-on Acquisition) 1 of 2
State (Texas) 1 of 2
Country (United States) 1 of 2
Year (2015) 1 of 1
Size (of disclosed) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2014-10-01 West Stanley

North Dakota, United States

West Stanley is a portfolio of oil-weighted assets in Williston Basin.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2019-06-18 BP America Production - Oil & Gas Producing Properties

Houston, Texas, United States

BP America Production Co.'s Oil & Gas Producing Properties are located approximately 50 miles east of Lime Rock Resources.

Buy -