Operational Updates
Vanguard Natural Resources Reports on Bakken Progress
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Capital Expenditures and Operational Update
Capital expenditures for the drilling, capital workover and recompletion of oil and natural gas properties were approximately $8.2 million in the first quarter of 2012 compared to $3.5 million for the comparable quarter of 2011. Approximately $3.7 million was spent on operated properties, primarily focused on workovers, down-hole pumps, facilities and returning wells to production. The remaining $4.5 million was spent on our non-operated properties, with $2.5 million spent on drilling Bakken, Cleveland and Rock Springs wells and $1.3 million on projects related to the Gulf Coast acquisition closed in 2011. The balance was spent on waterfloods in the Permian Basin and other miscellaneous work.
On March 1, 2012, Encore Energy Partners…
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