The Numbers That Matter for Vanguard Natural Resources, LLC (VNR)

In addition to acquisitions, Vanguard also announced that it will be boosting its capital budget to a range of $30 million-$35 million for the remainder of the year. The original plan was to spend about $55 million this year, but it will be adding nearly $10 million to that after already spending $29.4 million through the first half of the year. The company is able to boost its program thanks to the success it’s having in its Woodford Shale program. Vanguard Natural Resources, LLC (NASDAQ:VNR) spends the least amount of capital on organic growth among its peers; however, given the solid results it’s getting, the company sees increasing its capital spending as a prudent use of the funds it has at its disposal.

Final Foolish thoughts
Overall, it was a very solid quarter by Vanguard. The company appears to have fully digested the assets it acquired from Range and looks ready to make its next move. I would not be surprised to see a deal announced before the end of the current quarter.

The article The Numbers That Matter for Vanguard Natural Resources originally appeared on Fool.com and is written by Matt DiLallo.

Fool contributor Matt DiLallo owns shares of LINN Energy, LLC and has the following options: short October 2013 $25 puts on LINN Energy, LLC. The Motley Fool recommends BreitBurn Energy Partners L.P. (NASDAQ:BBEP) and Range Resources.

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