《先锋自然资源VanguardResources-201508_VNR_Raymond_By_CFO》由会员分享，可在线阅读，更多相关《先锋自然资源VanguardResources-201508_VNR_Raymond_By_CFO（21页珍藏版）》请在金锄头文库上搜索。
1、 Investor Presentation Richard Robert, EVP Initial Public Offering “VNR” October 2007 had a Total Enterprise Value of $240mm Monthly distribution of $0.1175 per unit ($1.41 annualized); generates 19.7% yield at current price of $7.15; In 2012, VNR was the first master limited partnership to institut
2、e a monthly cash distribution policy, beginning with our July 2012 distribution In 2013, VNR was the first master limited partnership to issue publicly traded preferred units with its initial 7.875% Series A Cumulative Redeemable Perpetual Preferred Units In total, VNR has raised net proceeds of mor
3、e than $328 million from three preferred equity offerings At-the-Market Program (ATM) allows us to systematically sell equity at a much more cost effective means In 2014, VNR raised net proceeds of more than $148 million via common equity and $1.2 million via preferred equity Since restarting ATM on
4、 March 17, 2015 and thru April 14, 2015 prior to black out window, VNR raised net proceeds of more than $27 million Market Cap calculation (incl. preferred): 8/11/15 VNR close price $8.98 VNRAP $21.35 x 2,582 = 55.1 VNRBP $17.64 x 7,000 = 123.5 VNRCP $18.15 x 4,300 = 78.0 Total : = 256.6 Price x Sha
5、res + Pref. ($8.98 x 87.0) + 256.6 = $1,038 TEV = 1,720+1,908 = 3,600 1,330+550+28=1,908 Experienced Management Team 4 Name Title Prior Affiliations Years of Experience Scott W. Smith President and CEO Ensource Energy The Wiser Oil Company San Juan Partners 34 Richard A. Robert EVP and CFO Enbridge
6、USA Midcoast Energy Resources Various energy-related entrepreneurial ventures 27 Britt Pence Executive Vice President of Operations Anadarko Petroleum Greenhill Petroleum Mobil 30 Mark Carnes Director of Acquisitions Synergy Oil Permian Basin, Mid-Continent region, and Gulf Coast region 203 Bcfe of
7、estimated net proved reserves as of December 31, 2014 Reserves commodity mix: 39% oil; 48% gas and 13% NGL LRR Energy, L.P. Overview 10 (1)Market data based on 8/25/2015 unit price of $3.28. (2)Reserves based on 12/31/14 SEC reserve report. Prestech Gulf Coast Region Mid-Continent Region Permian Reg
8、ion Mid-Continent Region 42% of total reserves Q1 2015 Production: 13 MMcfe/d Gulf Coast Region 10% of total reserves Q1 2015 Production: 5 MMcfe/d Permian Region 48% of total reserves Q1 2015 Production: 23 MMcfe/d Asset Profile(2) Permian Region Key fields: Red Lake, Corral Canyon, Pecos Slope Acr
9、eage: 149,408 gross (122,002 net) acres 94% operated Proved reserves: 98 Bcfe (68% liquids) Mid-Continent Region Key fields: Potato Hills, East Velma, Putnam, Stroud Acreage: 146,753 gross (27,338 net) acres 77% operated Proved reserves: 85 Bcfe (39% liquids) Gulf Coast Region Key fields: New Years
10、Ridge, George West-Stratton Acreage: 12,837 gross (8,769 net) acres 91% operated Proved reserves: 20 Bcfe (33% liquids) ($ in millions) Equity Market Capitalization$92 Net Debt277 Enterprise Value369 Proved Reserves (Bcfe)203 % Proved Developed88% Q2 2015 Production (MMcfe/d)40 Total Proved Reserve
11、Life (R/P)14 Capitalization Table(1) Key Statistics(2) Publicly traded upstream MLP formed in May 2006 (NASDAQ: EROC) based in Houston, TX Owns operated and non-operated wells located in four significant regions: Mid-Continent, Alabama, Permian and East Texas/South Texas/Mississippi 318 Bcfe of esti
12、mated net proved reserves as of December 31, 2014 Reserves commodity mix: 21% oil; 53% gas and 26% NGL Eagle Rock Energy Partners, L.P. Overview 11 (1)Market data based on 8/25/15 unit price of $1.14. (2)Reserves based on 12/31/14 SEC reserve report. Asset Profile(2) Mid-Continent Key producing area
13、s: Golden Trend, Cana (Woodford), Springer, Verden field, Granite Wash, Cleveland, Arkoma Acreage: 150,314 net acres (97% HBP) 307 operated / 1,059 non-operated wells (84% / 8% WI, respectively) Proved reserves: 226.9 Bcfe (37% liquids) Gulf Coast (Includes Alabama and East Texas/South Texas/Mississ
14、ippi, or “ETX/STX/MS”) Key producing areas: Big Escambia Creek, Flomaton, Fanny Church, Smackover formation, Jourdanton field, Atascosa county Acreage: 59,012 gross (29,653 net) acres 63 operated / 105 non-operated wells Proved reserves: 69.3 Bcfe (74% liquids) Permian Key producing areas: Ward, Pec
15、os and Crane counties Acreage: 22,666 net acres (96% HBP) 191 operated / 53 non-operated wells Proved reserves: 21.7 Bcfe (66% liquids) Mid-Continent Key producing areas: Golden Trend, Cana (Woodford), Springer, Verden field, Granite Wash, Cleveland, Arkoma Acreage: 150,314 net acres (97% HBP) 307 o
16、perated / 1,059 non-operated wells (84% / 8% WI, respectively) Proved reserves: 226.9 Bcfe (37% liquids) Alabama Key fields: Big Escambia Creek, Flomaton, Fanny Church Acreage: 13,971 gross (10,741 net) acres 22 operated / 3 non-operated wells Proved reserves: 49.9 Bcfe (79% liquids) Permian Key producing areas: Ward, Pecos and Crane counties Acreage: 22,666 net acres (96% HBP) 191 operated / 53 non
