The companies acquired these assets from an undisclosed seller for an adjusted purchase price of $81.4m, subject to customary post-closing adjustments.
The acquired properties include an estimated total net proved reserves of 5.48mmboe, with approximately 1,000boe/d of net daily production.
Both companies, in conjunction with this acquisition, have entered into new oil and natural gas hedges covering a substantial portion of the estimated production through 2014.
Vanguard and Encore Energy are focused on the acquisition, production and development of natural gas and oil properties.
