Vanguard Natural Resources, LLC Announces Settlement with Ad Hoc Equity Committee

Houston – July 14, 2017 – (PR NEWSWIRE) – Vanguard Natural Resources, LLC (OTC: VNRSQ) (“Vanguard” or “the Company”) has reached a settlement with the Ad Hoc Equity Committee (the “Equity Committee”). Under the agreement, the Equity Committee agrees to (i) withdraw any and all objections to the Debtors’ plan of reorganization and (ii) fully support the Debtors’ Second Amended Joint Plan of Reorganization, as amended (the “Modified Plan”). The Modified Plan will include the following amended terms, among others:

  • The Modified Plan extends the expiration deadline for new warrants from three years to three and a half years for both preferred and common units of the Company.
  • Holders of the Company’s common units will receive distributions of new warrants regardless of whether two-thirds of the common units vote as a class to accept the Company’s Modified Plan.
  • The definition of “Exculpated Parties” will be amended to add the Ad Hoc Equity Committee.
  • The Modified Plan provides for the payment of up to $350,000 of reasonable and documented fees and expenses of the advisors to the Ad Hoc Equity Committee in addition to those previously agreed upon. No further fees and expenses of such advisors will be allowed or payable.

Furthermore, all deposition notices and other discovery propounded by the Equity Committee against any other party are deemed immediately withdrawn and any scheduled depositions are canceled.

The Equity Committee recommends that holders of the Company’s common units who have not voted to vote in favor of the Modified Plan by Monday, July 17, 2017 at noon Central Standard Time. The Equity Committee also recommends that holders of the common units who initially voted to reject the Company’s unmodified plan of reorganization to submit new ballots accepting the Modified Plan by the deadline.  New ballots can be obtained through Broadridge Voting at or through Prime Clerk LLC at

Court filings and other information related to the chapter 11 cases are available on the Company’s website at and at, which is a website administered by the Company’s claims agent, Prime Clerk LLC. The Company has also set up a toll-free hotline to answer employee, vendor, investor and royalty owner questions, which is available Monday through Friday, 8 a.m. to 6 p.m. Central Standard Time at 844-596-2260 (internationally at 929-333-8976). Parties may obtain electronic notification of court filings through the Prime Clerk website or may register for email notices by completing the Bankruptcy Court’s registration form that can be accessed at

About Vanguard Natural Resources, LLC

Vanguard Natural Resources, LLC is a publicly traded limited liability company focused on the acquisition, production and development of oil and natural gas properties. Vanguard’s assets consist primarily of producing and non-producing oil and natural gas reserves located in the Green River Basin in Wyoming, the Permian Basin in West Texas and New Mexico, the Gulf Coast Basin in Texas, Louisiana, Mississippi and Alabama, the Anadarko Basin in Oklahoma and North Texas, the Piceance Basin in Colorado, the Big Horn Basin in Wyoming and Montana, the Arkoma Basin in Arkansas and Oklahoma, the Williston Basin in North Dakota and Montana, the Wind River Basin in Wyoming, and the Powder River Basin in Wyoming. More information on Vanguard can be found at

Forward-Looking Statements

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.


SOURCE: Vanguard Natural Resources, LLC

Vanguard Natural Resources, LLC

Lisa Godfrey, (832) 327-2234

Director, Investor Relations