HOUSTON, Jan. 26 /PRNewswire-FirstCall/ -- Vanguard Natural Resources, LLC (NYSE: VNR) ("Vanguard" or "the Company") today announced that its board of directors has approved an increase in the quarterly cash distribution to $0.525 per unit ($2.10 on an annual basis) for the fourth quarter of 2009 which will be paid on February 12, 2010 to unitholders of record on February 5, 2010. With this increase, the Company will have increased its quarterly distribution by $0.025 per unit or 5% over the third quarter distribution of $0.50 per unit.
Richard A. Robert, Executive Vice-President and CFO of Vanguard, commented, "We are very pleased to be able to increase the cash distributions to our unitholders as a result of our successful acquisition activity in the latter half of 2009. Our ability to increase our quarterly distribution is predicated on growing our Company through acquisitions and with our renewed ability to access the equity markets. We are excited about our future prospects for growth."
About Vanguard Natural Resources, LLC
Vanguard Natural Resources, LLC is a publicly traded limited liability company focused on the acquisition, production and development of natural gas and oil properties. The Company's assets consist primarily of producing and non-producing natural gas and oil reserves located in the southern portion of the Appalachian Basin, the Permian Basin and South Texas. More information on the Company can be found at www.vnrllc.com.
We make statements in this news release that are considered forward-looking statements within the meaning of the Securities Exchange Act of 1934. These forward-looking statements are largely based on our expectations, which reflect estimates and assumptions made by our management. These estimates and assumptions reflect our best judgment based on currently known market conditions and other factors. Although we believe such estimates and assumptions to be reasonable, they are inherently uncertain and involve a number of risks and uncertainties that are beyond our control. In addition, management's assumptions about future events may prove to be inaccurate. Management cautions all readers that the forward-looking statements contained in this news release are not guarantees of future performance, and we cannot assure you that such statements will be realized or the forward-looking events and circumstances will occur. Actual results may differ materially from those anticipated or implied in the forward-looking statements due to factors listed in the "Risk Factors" section in our SEC filings and elsewhere in those filings. All forward-looking statements speak only as of the date of this news release. We do not intend to publicly update or revise any forward-looking statements as a result of new information, future events or otherwise.
CONTACT: Vanguard Natural Resources, LLC
Lisa Godfrey, 832-327-2234
SOURCE Vanguard Natural Resources, LLC