Houston-based Vanguard Natural Resources LLC has closed on its acquisition of natural gas and liquids assets in the Arkoma Basin from Antero Resources for an adjusted price of $434.4 million, subject to post-closing adjustments. The effective date is April 1, 2012. The deal was announced early last month (see Shale Daily, June 5). Vanguard funded the acquisition with borrowings under its existing reserve-based credit facility. The borrowing base was increased from $670 million to $975 million in connection with an interim borrowing base redetermination to include the properties from the acquisition. Updated 2012 production and financial results guidance will be included with second quarter results, which are expected to be released on Aug. 2.

Australia’s Aurora Oil & Gas Ltd. completed its acquisition from a private individual investor of an additional 6% non-operated working interest in the Sugarloaf Area of Mutual Interest (AMI) in South Texas. The acquisition increases Aurora’s Sugarkane Field net acreage by about 9% (1,440 net acres) to more than 17,800 net acres. The purchase price of US$95 million was paid from cash reserves. The Sugarloaf AMI is located within the Sugarkane Field in the liquids-rich area of the Eagle Ford Shale. Aurora already participates in the Sugarloaf AMI and the acquisition has increased its working interest from 15.8% to 21.8%. The additional acreage is operated by Marathon Oil EF LLC, the operator of Aurora’s existing Eagle Ford acreage. “This acquisition builds on Aurora’s already strong presence in the Sugarkane Field, growing our portfolio of Eagle Ford interests within our key focus area and in line with our stated strategy,” said Aurora CEO Jon Stewart. “A successful conclusion of our on market offer for Eureka Energy Ltd. [see Shale Daily, June 20] would lead to Aurora further increasing its working interest to approximately 28% in the Sugarloaf AMI. These acquisitions also further align our interests with Marathon, the operator of the Sugarkane Field.”