Vanguard Natural Resources has signed a definitive agreement to acquire natural gas properties in south Texas for $53.4 million from an affiliate of the Lewis Energy Group.

Vanguard Natural Resources has reported net income of $4.3 million for the first quarter of 2008, compared to a net loss of $1.6 million for the same period of 2007.

Vanguard Natural Resources has appointed John McGoldrick, Loren Singletary and Bruce McCullough to its board as independent directors. Mr McGoldrick is currently a director and executive chairman of Caza Oil & Gas.

Oil and gas development firm Vanguard Natural Resources has announced it has consummated its previously announced acquisition of oil and natural gas producing properties in the Permian Basin from Apache Corporation for an adjusted purchase price of $73.4 million.

Vanguard Natural Resources has reported adjusted EBITDA of $8.4 million for the third quarter of 2007, compared to $7.4 million in the same period of 2006.