![]() ![]() (See: Denbury Resources to acquire Encore for $4.5 billion )Īfter the acquisition, Denbury sold in April 2010 certain oil assets of Encore Acquisition to Houston-based Quantum Resources Management LLC for $900 million, (See: Denbury strikes $900-million partial asset sale deal with Quantum Resources ) to pay down the company's $1.6 billion bank credit facility, which had $800 million outstanding as on 31 March 2010.ĭenbury, which currently has a long-term debt of around $2.8 billion, said it will use the net proceeds from the current sale of its stake in Encore Energy Partners to repay outstanding bank debt and to fund any shortfall between its anticipated cash flows from operations and planned capital expenditures during 2011. 5851 Legacy Circle, Suite 1200 Plano, TX 75024 T: 972.673. The Company's goal is to increase the value of acquired properties through a combination of exploitation, drilling and proven engineering extraction practices, with its most significant emphasis relating to tertiary recovery operations. 1, 2011- Vanguard Natural Resources, LLC and Encore Energy Partners LP jointly announced today that the merger of Encore into a wholly-owned subsidiary of Vanguard. ![]() Texas-based Denbury had acquired the 46-per cent stake worth $400 million in Encore Energy Partners as part of its $4.5 billion buyout of Encore Acquisition Company in November 2009. by operation of law, Denbury obtained control of GP LLC. ![]() Vanguard to acquire Denbury's 46 -% Encore Energy stake for $380 mnĭenbury Resources Inc, an independent US oil and natural gas exploration company, today said that it will sell its 46 per cent stake in Encore Energy Partners to Vanguard Natural Resources, for $380 million in order to repay bank debt. Encore Energy Partners GP LLC, a Delaware limited liability company (GP LLC), is the general. Ascent Energy, LLC Ascent Resources Operating LLC Aspenleaf Energy Ltd Athabasca Oil Corporation ATX Energy Partners, LLC Avant. Vanguard Natural Resources LLC said it will buy all of fellow oil-and-gas explorer Denbury Resources Inc. ![]()
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