Vanguard raises its full-year profit outlook to include impact of new oil and gas properties

Vanguard boosts ‘09 outlook to include acquisition

HOUSTON — Oil and natural gas company Vanguard Natural Resources LLC on Thursday raised its full-year profit outlook to reflect the impact of newly acquired natural gas and oil properties.

In August the company purchased the properties from an affiliate of Lewis Energy Group for about $52.25 million in cash.

Vanguard raised its 2009 profit outlook to a range between $30.4 million and $31.1 million, compared with a previous estimate in March between $23.6 million and $24.7 million.

Shares of the company rose 20 cents to $14.25 in afternoon trading.