June 28, 2012 Louisiana Energy Conference NYSE: VNR
Overview of Vanguard Natural Resources Upstream oil & gas LLC, headquartered in Houston, Texas Initial Public Offering VNR October 2007 (Total Enterprise Value of 240mm) Thirteen strategic acquisitions totaling 2.1bn expanded…
Geographically Diversified Reserve Base Core Areas Overview Big Horn Basin Proved Reserves: 26.5 MMBoe Williston Basin 73.2 MMBoe Proved Reserves Proved Reserves: 5.4 MMBoe 82% oil and 97% Proved 71% liquids and 88% Proved…
Our Successful Acquisition Track Record We acquire developed, proved properties in established oil and gas basins We review between 125-150 and evaluate approximately 50 acquisition candidates each year Adj. Effective Purchase…
What Encore Did For Us Largest acquisition to date at 1.2 billion Increased exposure to crude oil for VNR unitholders Significantly increased size and scale, overall operating reach and cash flow stability Improved ability to compete…
Pending Woodford/Fayetteville Acquisition Woodford Shale Fayetteville Shale Operated Acreage Non-operated Acreage Assets located in the Woodford Shale and Fayetteville Shale plays Total proved reserves of 420 Bcfe (58%…
Pro Forma Reserve Summary Total Reserves of 143 MMBoe (858 Bcfe) PDP reserves of 102 MMBoe (610 Bcfe) is 71% of total reserves Oil NGL Gas Total (MMBl) (MMBl) (Bcf) (MMBoe) PDP 39 9 324 102 PDNP 1 0 12 3 PUD 5 10 139 38 Total…
Hedges Mitigate Commodity Price Risk Approximately 80% of expected crude oil production (total proved) thru 2014 Approximately 75% of expected natural gas production (total proved) thru 2014 Does not include the natural gas hedges…
Key Investment Highlights High quality, long-lived reserve base with low production decline rates and low capital reinvestment requirements Geographically diverse asset base comprised predominantly of oil properties Active hedging…