Vanguard Natural Resources (VNR) Prices 7.14 Million Unit Offering at $27.71/Unit

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VNR Hot Sheet

Vanguard Natural Resources, LLC (NYSE: VNR) today announced the pricing of its public offering of 7,137,255 common units representing limited liability company interests in the Company, of which 3,137,255 common units are being offered by Denbury Onshore, LLC, the selling unitholder, at a price of $27.71 per unit. The underwriters have been granted a 30-day option to purchase up to an additional 1,070,588 common units from the Company at the public offering price less the underwriting discount. The offering is expected to close on January 24, 2012, subject to customary closing conditions.

The Company expects to receive net proceeds of approximately $106.4 million (or approximately $134.9 million if the underwriters exercise their option to purchase an additional 1,070,588 common units), after deducting underwriting discounts and estimated offering expenses, from the offering and intends to use the net proceeds from the offering to repay indebtedness outstanding under its term loan facility and senior secured revolving credit facility. The Company will not receive any of the proceeds from the common units sold by the Selling Unitholder.

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