Last $26.60 USD
Change Today +0.89 / 3.46%
Volume 648.3K
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Company Description

Contact Info

5847 San Felipe

Suite 3000

Houston, TX 77057

United States

Phone: 832-327-2255

Fax: 832-327-2260

Vanguard Natural Resources, LLC focuses on the acquisition and development of mature, long-lived oil and natural gas properties in the United States. Reserves The company’s total estimated proved reserves were 172.2 MMBOE as of December 31, 2013. It owned working interests in 7,277 gross (2,551 net) productive wells. Additionally, the company owns approximately 797,118 gross undeveloped acres surrounding its existing wells. As of December 31, 2013, it had identified 386 proved undeveloped drilling locations and approximately 440 other drilling locations on its leasehold acreage. Properties As of December 31, 2013, the company, through its operating subsidiaries, owned properties and oil and natural gas reserves primarily located in eight operating basins, such as the Arkoma Basin in Arkansas and Oklahoma; the Permian Basin in west Texas and New Mexico; the Big Horn Basin in Wyoming and Montana; the Piceance Basin in Colorado; the Gulf Coast Basin in Texas and Mississippi; the Wind River Basin in Wyoming; the Williston Basin in North Dakota and Montana; and the Powder River Basin in Wyoming. Arkoma Basin Properties The company’s Arkoma Basin properties include properties in the Woodford Shale, located in eastern Oklahoma, the Fayetteville Shale, located in Arkansas, and royalty interests and non-operated working interest. As of December 31, 2013, the properties had total proved reserves of approximately 62,255 MBOE or 36% of its total estimated proved reserves at year end, of which 57% were proved developed and 82% were natural gas. Permian Basin Properties The Permian Basin is a prolific oil and natural gas producing basin in the United States extending through west Texas and southeast New Mexico. The majority of its producing wells in the Permian Basin are mature oil wells that also produce high-Btu casinghead gas with NGLs content. The company’s average working interest in these properties is approximately 66%. As of December 31, 2013, its Permian Basin properties consisted of 132,163 gross (94,231 net) acres. Big Horn Basin Properties The Big Horn Basin is a prolific basin, which is characterized by oil and natural gas fields with long production histories and multiple producing formations. Its Big Horn Basin properties include assets in Wyoming, including the Gooseberry field, and the Elk Basin field in south central Montana. The company owned working interests ranging from 4% to 100% in its Big Horn Basin properties, which consisted of 25,072 gross (20,932 net) acres as of December 31, 2013. The company’s Elk Basin field is located in Park County, Wyoming and Carbon County, Montana. It operates all properties in the Elk Basin area, which includes the Embar-Tensleep, Madison, and Frontier formations. The Gooseberry field is located in Park County and Hot Springs, Wyoming, 60 miles south of Elk Basin, and is made up of two waterflood units in the Big Horn Basin. Gooseberry is an active waterflood project. The wells in the Gooseberry field are completed at depths ranging from 5,600 to 7,600 feet from the Phosphoria and Tensleep formations. The company owns and operates a 62% interest in the Elk Basin natural gas processing plant near Powell, Wyoming. ExxonMobil Corporation (Exxon) owns a 34% interest in the Elk Basin natural gas processing plant, and other parties own the remaining 4% interest. This plant is a refrigeration natural gas processing plant that receives natural gas supplies through a natural gas gathering system from Elk Basin fields. The company also owns and operates the Wildhorse pipeline system, which is an approximately 12-mile natural gas gathering system that transports approximately 1.0 MMcf/day of low-sulfur natural gas from the South Elk Basin fields to the Elk Basin natural gas processing plant. Piceance Basin Properties The Piceance Basin is located in northwestern Colorado. The company’s Piceance Basin properties are operated by Bill Barrett Corporation and are located in the Gibson Gulch. The Gibson Gulch area is a basin-centered gas play along the north end of the Divide Creek anticline near the eastern limits of the Piceance Basin’s productive Mes

 

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VNR

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Valuation VNR Industry Range
Price/Earnings 100.0x
Price/Sales 3.8x
Price/Book 1.7x
Price/Cash Flow 10.9x
TEV/Sales 1.1x
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