Skip to main content INVESTOR PRESENTATION – Vanguard Natural Resources, Llc | Shale Experts
Loading...
Pm

INVESTOR PRESENTATION – Vanguard Natural Resources, Llc

Vanguard Natural Resources, Llc · Jul 1, 2011 · 19 slides

Investor presentation from the Shale Experts oil & gas presentation and slide database. Every page is imaged and its text indexed for search across operators, plays, basins and time.

Slides

  1. INVESTOR PRESENTATION – Vanguard Natural Resources, Llc – slide 1
    Investor Presentation July 2011
  2. INVESTOR PRESENTATION – Vanguard Natural Resources, Llc – slide 2
    Q1 Update / Key Developments Q1 Update: Increased quarterly distribution for the second consecutive quarter to 0.57 per unit Adjusted EBITDA attributable to Vanguard increased 103% to 37.6 million from 18.5 million illi iin th the…
  3. INVESTOR PRESENTATION – Vanguard Natural Resources, Llc – slide 3
    Overview of Vanguard Natural Resources Upstream oil & gas LLC, headquartered in Houston, Texas Initial Public Offering VNR - October 2007 Seven strategic acquisitions totaling 773MM expanded geographic profile and commodity…
  4. INVESTOR PRESENTATION – Vanguard Natural Resources, Llc – slide 4
    ENP Transaction Rationale Largest acquisition to date at 380 million Increased exposure to crude oil for VNR unitholders Significantly increases size and scale, overall operating reach and cash flow stability Improved ability to compete…
  5. INVESTOR PRESENTATION – Vanguard Natural Resources, Llc – slide 5
    VNR & ENP Combined Operating Areas
  6. INVESTOR PRESENTATION – Vanguard Natural Resources, Llc – slide 6
    Proved Reserves by Area Standalone (1) 28.2 MMBoe Combined (1)(2) 69.3 MMBoe VNR VNR + ENP PERMIAN & BIG HORN GULF COAST 26% 35% PERMIAN & MISS GULF COAST 15% 26% ARK-LA-TEX 2% MISS 6% SOUTH TEXAS WILLISTON 32%…
  7. INVESTOR PRESENTATION – Vanguard Natural Resources, Llc – slide 7
    Proved Reserves Standalone (1) 28.2 MMBoe Combined (1)(2) 69.3 MMBoe VNR VNR + ENP NGLs NGLs 15% 8% Gas Oil Oil Gas 55% 47% 38% 37% PUD PUD 34% 19% PDP 62% PDP PNP PNP 77% 4% 4% Substantial Increase in Size and…
  8. INVESTOR PRESENTATION – Vanguard Natural Resources, Llc – slide 8
    Snapshot of Strategic Acquisitions Since IPO A Acquisition i ii D Date R i Region Deall D Proved P d Reserves/ R / K F Key Features Size PDP (1) Apache Feb Permian Basin 73.4M 4.4 MMBoe 83% oil 2008 90% PDP Dos Hermanos…
  9. INVESTOR PRESENTATION – Vanguard Natural Resources, Llc – slide 9
    Accretive Acquisitions Drive Growth Reserves (MMBoe) (1) Production (Boe/d) 75.0 69.3 15,000 12,850 60.0 12 500 12,500 45.0 10,000 7,500 30.0 23.8 18.1 5,000 4,723 2,701 3,335 15.0 11.2 1,931 , 2 500 2,500 0.0 (2) 0 (2)…
  10. INVESTOR PRESENTATION – Vanguard Natural Resources, Llc – slide 10
    FINANCIAL OVERVIEW
  11. INVESTOR PRESENTATION – Vanguard Natural Resources, Llc – slide 11
    Hedges Mitigate Distribution Risk Approximately 60% of expected crude oil production (total proved) thru 2014 is hedged via a combination of swaps and collars at a weighted average floor price of 86.46 per barrel Approximately 55% of…
  12. INVESTOR PRESENTATION – Vanguard Natural Resources, Llc – slide 12
    Hedged Cash Flow=Stable Distribution Coverage 2011 Natural Gas Prices (/MMBtu) 2.00 3.00 4.00 5.00 6.00 2011 Crrude Oil Prrices WTI 70.00 1.13x 1.14x 1.15x 1.16x 1.17x 80.00 1.25x 1.26x 1.27x 1.28x 1.29x (/Barrell) 90.00…
  13. INVESTOR PRESENTATION – Vanguard Natural Resources, Llc – slide 13
    Liquidity ( in millions) All figures shown as of 5/12/11 VNR ENP Facility Size 400 475 Borrowing Base 235 (1) 400 (1) Amount Outstanding 180 224 Borrowing Availability 55 176 Maturity Date October 1, 2012 March 7, 2012 Interest…
  14. INVESTOR PRESENTATION – Vanguard Natural Resources, Llc – slide 14
    2011 Calendar Year Guidance VNR 2011 VNR 2010 ENP 2011 ENP 2010 Guidance(1) Actual Guidance(1) Actual AVERAGE DAILY 12,500 to 13,200 4,721 7,930 to 8,350 8,766 PRODUCTION BOE/day (2) BOE/day BOE/day BOE/day LEASE OPERATING 12.85 to…
  15. INVESTOR PRESENTATION – Vanguard Natural Resources, Llc – slide 15
    Comparable Company Distribution Increases VNR Leads d Peer G Group iin O Overall ll Distribution i ib i G Growth h 34% 34% 35% 30% 27% VNR Peer 1 25% Peer 2 20% 18% Peer 3 15% Peer 4 Peer 4 Peer 5 10% 5% 5% VNR…
  16. INVESTOR PRESENTATION – Vanguard Natural Resources, Llc – slide 16
    Consistent Distribution Growth VNR has raised its distribution 34% since IPO equating to 7.00 in cumulative distributions 8.00 6.96 7.00 6.39 0.57 Quarterly Distribution 5.83 0.56 6.00 Cumulative Distribution Cumulative…
  17. INVESTOR PRESENTATION – Vanguard Natural Resources, Llc – slide 17
    Price Performance Since 2009 The results Th lt have h been b good. d VNR has h outperformed t f d US Royalty R lt Trusts, C-Corps and other E&P MLPs. The strategy works. 800% 700% VNR Total Re turn: 557% 600% 500% VNR:…
  18. INVESTOR PRESENTATION – Vanguard Natural Resources, Llc – slide 18
    Comparable Company Distribution Yields C CURRENT DISTRIBUTION S O YIELDS SOOF PEER G GROUP O 1.56 10% 8.4% 9.0% 7.3% 7.8% 7.8% 6.7% 7.0% 7.1% 5.7% 6.2% 5.2% 5% 3 04 3.04 2 64 2.64 2.04 2.12 2.28 1 65 1.65 1 67…
  19. INVESTOR PRESENTATION – Vanguard Natural Resources, Llc – slide 19
    Key Investor Considerations Management and unitholders are well aligned High quality, quality long lived reserves Asset base generates stable cash flow M li Multi-year h d program mitigates hedge ii commodity di risk i k…

From the store

Browse maps, data & reports in the Shale Experts store