ENP Buys Permian Basin Assets

摘要

Encore Energy Partners (ENP) and Van-guard Natural Resources have entered intoagreements to each acquire a 50% interestin producing oil and gas assets in the Per-mian Basin of West Texas from a privateseller. They will each pay $42.5 million tothe seller.Encore is a master limited partnership(MLP) and Vanguard is the partnership’sgeneral partner.Each entity is acquiring assets withproven reserves of 2.74 million boe, ofwhich 70% are oil and natural gas liquidsreserves.