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Vanguard Natural Resources to sell SCOOP/STACK assets for $280M

on March 30 said it has agreed to sell its natural gas, oil and NGL assets inthe SCOOP/STACK areain Oklahoma to entities managed by the oil and gas investment firm TitaniumExploration Partners LLC for $280 million.

Thetransaction would be effective Jan. 1 upon closing, which is expected on orbefore May 18, according to a news release.

Vanguardplans to use the sale proceeds to reduce borrowings under its reserve-basedcredit facility.

RBCRichardson Barr acted as Vanguard's exclusive adviser for the sale.