Houston energy co. emerges from bankruptcy, eliminating $820M of debt

Houston-based Vanguard Natural Resources LLC, which filed for Chapter 11 bankruptcy protection in February, has completed its financial restructuring and emerged as Vanguard Natural Resources Inc. on Aug. 1.

The company also named a new board of directors.

The restructuring and sale of noncore assets eliminated approximately $820 million of Vanguard’s secured and unsecured debt, more than $708 million originally expected. The company’s total outstanding debt is $936 million, and it has about…

Houston energy co. emerges from bankruptcy, eliminating $820M of debt syndicated post

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