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PLATTS 2011 MLP SYMPOSIUM – Vanguard Natural Resources, Llc

Vanguard Natural Resources, Llc · Oct 12, 2011 · 13 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. PLATTS 2011 MLP SYMPOSIUM – Vanguard Natural Resources, Llc – slide 1
    Platts 2011 MLP Symposium October 2011
  2. PLATTS 2011 MLP SYMPOSIUM – Vanguard Natural Resources, Llc – slide 2
    Overview of Vanguard Natural Resources Upstream oil & gas LLC, headquartered in Houston, Texas Initial Public Offering VNR - October 2007 Increased distribution 35% since IPO VNR is the General Partner of Encore Energy Partners LP…
  3. PLATTS 2011 MLP SYMPOSIUM – Vanguard Natural Resources, Llc – slide 3
    Encore Transaction Timeline September 2, 2010 contacted by Denbury Resources Inc. regarding potential sale of all its interests in Encore October 14, 2010 Vanguard submitted initial indication of interest to Denbury November 13,…
  4. PLATTS 2011 MLP SYMPOSIUM – 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…
  5. PLATTS 2011 MLP SYMPOSIUM – Vanguard Natural Resources, Llc – slide 5
    VNR and ENP Combined Operating Areas 6
  6. PLATTS 2011 MLP SYMPOSIUM – 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. PLATTS 2011 MLP SYMPOSIUM – 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. PLATTS 2011 MLP SYMPOSIUM – Vanguard Natural Resources, Llc – slide 8
    2010-2011 Acquisitions Acquisition Date Region Deal Size Proved Reserves/ Key Features PDP(1) Parker Creek May Mississippi, 114.6MM 4.7 MMBoe 96% oil 2010 TX & NM 90% PDP Encore Dec Permian, 380.0MM 43.4 MMBoe 67% oil & NGLs 2010…
  9. PLATTS 2011 MLP SYMPOSIUM – Vanguard Natural Resources, Llc – slide 9
    How MLPs Fit in the Upstream Cycle Oil & Gas Company (C-Corp) Discovers new reserves via exploratory drilling (Shale and Resource) Oil & Gas Company Oil & Gas Company Develops reserves, Redeploys capital captures higher IP…
  10. PLATTS 2011 MLP SYMPOSIUM – Vanguard Natural Resources, Llc – slide 10
    VNR / ENP Shale Assets Minimal exposure to shale plays through ownership of producing assets in North Dakota and Montana. Approximately 15,000 net acres, all HBP, in the established Bakken trend. Have participated in one horizontal…
  11. PLATTS 2011 MLP SYMPOSIUM – Vanguard Natural Resources, Llc – slide 11
    Vanguard View of US Resource Plays Williston Basin Utica Shale Marcellus Shale Bakken and Three Forks Powder River Basin Niobrara and Frontier DJ Basin Niobrara and Codell Anadarko Basin Cleveland/Tonkawa, Springer and…
  12. PLATTS 2011 MLP SYMPOSIUM – Vanguard Natural Resources, Llc – slide 12
    VNR View of Shale/Resource Plays MLP Stage Play is well developed and understood, both geologically and from an engineering standpoint, with 1,000+ wells having been drilled and on production for several years Speculative leasing is…
  13. PLATTS 2011 MLP SYMPOSIUM – Vanguard Natural Resources, Llc – slide 13
    Summary The industrys focus on identifying, evaluating and exploiting shale/resource plays will create over time a huge base of assets that should fit well in to the MLP model Once these plays reach a certain stage of maturity and…

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