Sign Up Now!
Back to Results
Note: Only one slide is currently available because you are not currently logged in.
Vanguard Natural Resources LLC
2012 NAPTP MLP Conference
| Richard A. Robert | Page 3 of 11 |
April 18, 2014
View in Results
"2012 NAPTP MLP Conference"
View Full Document
Slides may show historical information no longer relevant. All slides to be viewed in context of the entire presentation and time. See
Overview of Vanguard Natural Resources Upstream oil & gas LLC, headquartered in Houston, Texas Initial Public Offering October 2007 (Total Enterprise Value of ~$240mm) Twelve strategic acquisitions totaling ~$1.6bn expanded geographic profile and commodity diversity (including merger with Encore Energy Partners LP) Quarterly distribution of $0.5925 per unit ($2.37 annualized) yields approximately 9.8% at current price; Increased distributions ~39% since IPO Diverse portfolio of mature, long life gas and oil properties, combined with a multi - year hedging program provide stable cash flow and support distribution growth No General Partner or incentive distribution rights (IDRs) Reduces cost of capital * Proved reserves as of 12/31/11 based on reserve report prepared by our independent reserve engineers, DeGolyer & MacNaug hton (D&M), and 12 - month average spot prices. . Pro forma for exchange of Appalachian assets. (1) Market data as of May 18, 2012 includes 420,000 Class B units. Balance sheet data as of March 31, 2012 and adjusted for Apri l 2012 bond offering. (2) Based on 12/31/11 proved reserves and Q4 2011 production, Company Profile VNR UNITS OUTSTANDING (1) 52.0 EQUITY MARKET CAP (1) $1,262 TOTAL DEBT $650 LESS CASH $5 ENTERPRISE VALUE $1,907 ~73.2 MMBoe total proved reserves Q4 2011 Production: ~14 MBoe/d ~88% proved developed and 17 year Proved R/P (2) & PD R/P of 15 years ~71% liquids / 29% gas on a consolidated basis ($ in millions) 3