Richard Robert, Executive Vice President and Chief Financial Officer of Vanguard Natural Resources, LLC (NASDAQ: VNR), presented today at EnerCom’s The Oil & Gas Conference® 20.
Vanguard Natural Resources is a publicly traded limited liability company focused on the acquisition, production and development of oil and natural gas properties. Vanguard’s assets consist primarily of producing and non-producing oil and natural gas reserves located in the Green River Basin in Wyoming, the Arkoma Basin in Arkansas and Oklahoma, the Permian Basin in West Texas and New Mexico, the Big Horn Basin in Wyoming and Montana, the Piceance Basin in Colorado, the Gulf Coast Basin in Texas, Louisiana and Mississippi, the Williston Basin in North Dakota and Montana, the Wind River Basin in Wyoming and the Powder River Basin in Wyoming.
Vanguard Natural Resources has implemented a hedging program for approximately 84% and 50% of the anticipated crude oil production in 2015 and 2016 with 81% in the form of fixed-price swaps for the balance of 2015.
During the company’s breakout session, management was asked the following questions:
- You talked on the 2nd quarter earnings call about the potential to maintain all credit facilities. How did the banks accept that? What is the basic process?
- Can you give some internal guidelines regarding your integration process?
- What kind of recovery technologies do you use on some of your older assets?
- How much of your borrowing base do you lose when you adjust for acquisitions or hedging?
- What is your hedging position in 2017?
