December 1, 2009 (FinancialWire) — Vanguard Natural Resources, LLC (NYSE: VNR) said it has entered into a definitive agreement to acquire producing oil and gas assets in the Permian Basin for $55 million from a private seller.

The properties to be acquired have estimated total proved reserves of 3.2 million barrels of oil equivalent, of which approximately 83% are oil reserves and 65% are proved developed.

Vanguard Natural Resources is 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.

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