Vanguard Natural Resources, LLC (VNR) Reports Higher Net Income for First Quarter of 2010
Vanguard Natural Resources, LLC reported net income of $21.7 million, or $1.15 per basic unit, in the first quarter of 2010. The company reported a loss of $50.0 million, or $3.98 per basic unit, in the same quarter of 2009. Vanguard Natural Resources, LLC reported average production of 26.06 million cubic feet equivalent per day in the first quarter of 2010, an increase of 46% from the average of 17.82 million cubic feet equivalent per day in the first quarter of 2009. The company said that increase in production on a year over year basis was due mainly to an…