Vanguard Natural Resources (VNR) Tops Q1 EPS by 3c

Vanguard Natural Resources (NASDAQ: VNR) reported Q1 EPS of $0.07, $0.03 better than the analyst estimate of $0.04.

Mr. Scott W. Smith, President and CEO, commented, “We are very pleased to have announced the agreement to sell our SCOOP/STACK assets in Oklahoma and look forward to closing the divestiture in May and using the proceeds to reduce our borrowings under our revolving credit facility. We continue to look for opportunistic ways to improve our cash flow and strengthen our balance sheet. Overall we are pleased with our performance this quarter in the face of very low commodity prices. We continue to implement cost efficiencies throughout our organization and see the results in both our lease operating expenses and general and administrative expenses after consideration of the mergers with Eagle Rock Energy Partners and LRE Energy. It is important to remember that the energy industry is a cyclical business and we are committed to taking the necessary steps to overcome the challenges our industry is currently facing.”

For earnings history and earnings-related data on Vanguard Natural Resources (VNR) click here.

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