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Filing Details

Issuer

Cik	Name	Symbol	Sector (SIC)	IRS No
1384072	Vanguard Natural Resources Inc.	VNRR	()	DE

Insiders

Cik	Name	Reported Address	Insider Title	Director	Officer	Large Shareholder	Other
1050417	Contrarian Capital Management, L.l.c.	411 West Putnam Avenue Suite 425 Greenwich CT 06830		No	No	No	Yes

Reported Non-Derivative Transactions

Sec. Name	Acquisiton - Disposition	Date	Amount	Price	Remaning Holdings	Equity Swap Involved	Form Type	Code	Nature of Ownership	Explanation
Common Stock	Acquisiton	2017-12-21	5,281	$0.00	3,237,641	No	4	A	Indirect	See footnotes
Common Stock	Acquisiton	2018-01-22	28,500	$19.50	3,266,141	No	4	P	Indirect	See footnotes

Equity Swap Involved	Form Type	Code	Nature of Ownership	Explanation
No	4	A	Indirect	See footnotes
No	4	P	Indirect	See footnotes

Footnotes

Contrarian Capital Management, L.L.C. ("Contrarian") is an investment adviser registered with the U.S. Securities Exchange Commission under Section 203 under the Investment Advisers Act of 1940. Contrarian is the investment manager of certain managed accounts and private investment funds (collectively the "Funds"). All securities reported on this Form 4 are owned by the Funds.
Contrarian disclaims beneficial ownership of these securities except to the extent of its pecuniary interest therein, and the inclusion of these securities in this report shall not be deemed an admission of beneficial ownership of the reported securities for purposes of Section 16 or for any other purpose.
Securities acquired as a delayed distribution from the Issuer to certain claimholders, including the Reporting Person, in connection with the Issuer's emergence from bankruptcy and in accordance with the Issuer's plan of reorganization which was effectuated on August 1, 2017. For purposes of the exemption under Rule 16b-3 promulgated under the Securities Exchange Act of 1934, as amended, the board of directors of the Issuer approved the acquisition of any direct or indirect pecuniary interest of such shares of Common Stock by the Reporting Person.