Member access

4-Traders Homepage  >  Shares  >  Nyse  >  Dominion Resources, Inc.    D   US25746U1097

Delayed Quote. Delayed Nyse - 05/22 01:23:22 pm
71.99 USD   -0.04%
05/21DJVanguard Natural Resources to Buy Eagle Rock Energy Partners
05/21 'answers' sought
05/21 DOMINION RESOUR : to Raise USD200 Million in Public Offering of Shar..
News SummaryMost relevantAll newsSector news 
The feature you requested does not exist. However, we suggest the following feature:

Vanguard Natural Resources to Buy Eagle Rock Energy Partners

05/21/2015 | 09:25pm US/Eastern

Vanguard Natural Resources LLC, a U.S. oil-and-gas producer, has agreed to acquire smaller rival Eagle Rock Energy Partners L.P. for $474 million plus debt, the two Houston-based companies said Thursday.

The deal gives Vanguard a bigger presence in Oklahoma, where the company already pumps oil and gas, Vanguard chief executive Scott Smith said.

"The assets being acquired are attractive bolt-ons to our Mid-Continent, Permian, and Gulf Coast Basin operations," Mr. Smith said, referring to Vanguard's existing drilling operations in Texas, New Mexico, Colorado, Wyoming and several other states.

Terms of the deal calls for a subsidiary of Vanguard to merge into Eagle Rock for $474 million in stock and assume Eagle Rock's net debt of $140 million. Following that combination, Eagle Rock will be a subsidiary of Vanguard.

Joseph A. Mills, chief executive of Eagle Rock, said the agreement gives Eagle Rock shareholders a 24% premium over Thursday's closing price of $2.45 a share.

"We have been very impressed with the Vanguard team and look forward to working together to successfully combine our two companies," he said.

This is the second acquisition announced by Vanguard in the past month. In April, the company said it would acquire LRR Energy L.P. for $539 million in a deal similar to the one with Eagle Rock.

Write to Erin Ailworth at

Access Investor Kit for Dominion Resources, Inc.


Access Investor Kit for Eagle Rock Energy Partners LP


Access Investor Kit for Vanguard Natural Resources LLC


React to this article
05/21DJVanguard Natural Resources to Buy Eagle Rock Energy Partners
05/21 'answers' sought
05/21 DOMINION RESOURCES : to Raise USD200 Million in Public Offering of Shares
05/21 DOMINION RESOURCES : Virginia Power Customers Urged to Prepare for Hurricane Sea..
05/20 DOMINION RESOURCES : VA/ : Regulation FD Disclosure, Other Events, Financial Sta..
05/20 DOMINION RESOURCES : Completes Planned Market Equity Issuances For 2015
05/20 DOMINION RESOURCES : Announces Public Offering of Common Stock
05/20DJBP Settles Gulf Disaster Claims With Transocean, Halliburton
05/20 DOMINION RESOURCES : announces alternate routes for proposed natural gas pipelin..
05/20DJOil Rebounds After Five-Day Slide
Duration : Period :
Dominion Resources, Inc. Technical Analysis Chart | D | US25746U1097 | 4-Traders
Income Statement Evolution
More Financials