Unitholders of Vanguard Natural Resources LLC (NASDAQ: VNR) and Eagle Rock Energy Partners (NASDAQ: EROC) approved the companies’ proposed merger, and Vanguard’s unitholders approved issuance of common units representing limited liability company interests, the companies said Oct. 5.
The units will be issued to Eagle Rock’s unitholders as merger consideration. At an Eagle Rock special meeting, about 62% of the company’s outstanding common units were voted in favor of the merger.
At Vanguard’s annual meeting, about 93% of votes cast were in favor of the common units issuance.
Both approval levels satisfy closing conditions for the merger. The transaction is scheduled to close Oct. 8, the companies said.
Houston-based Vanguard Natural Resources LLC acquires, develops and produces domestic oil and natural gas properties.
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