Vanguard Natural Resources, LLC Oil & Gas Exploration and Production Operations and Cost Analysis - Q4, 2015

 Published On: Aug, 2016 |    No of Pages: 90 |  Published By: GlobalData | Format: PDF
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Summary

Vanguard Natural Resources, LLC Oil & Gas Exploration and Production Operations and Cost Analysis is the latest report from GlobalData, the industry analysis specialists, that offers comprehensive information on the operational and financial performance of the company. The report is an essential source for key operational metrics, analysis and provides a strategic insight into the company. The report provides an annual and quarterly overview of oil and gas reserves and production, changes in reserves, costs incurred and results of oil and gas operations, acreage and well details, share price performance and key valuation metrics.

Scope

The report provides in-depth analysis and insights into companies’ capital spending, revenues, oil and gas reserves, production, and performance measures. Its scope includes the following -
- The report provides detailed and unique insight information on the key operational metrics. It gives a comprehensive overview of oil and gas production and reserves, costs incurred and results of oil and gas operations, acreage and well details and other performance metrics.
- Provides details with respect to the company’s oil and gas reserves and production information by country. It further consists of in-depth information on the company’s expenditures in relation to the acquisition, exploration and development activities; developed and undeveloped acreage position; key costs and revenue information; and performance metrics of the company as disclosed in its annual reports and regulatory filings.
- Provides a comprehensive overview of the company’s share price performance and key valuation metrics such as market capitalization, enterprise value, EV/Production ($boe/d) and EV/Proved Reserve ($/boe)
- Provides information on key operational and financial metrics on an annual and quarterly basis. The annual information provided is for a five-year period and the quarterly information is for the last five quarters.

*Note:

1. The scope mentioned above is generic and may not apply to all the companies. The report is based on the information disclosed by the companies in their annual and quarterly reports, regulatory filings and other company documents and sources.
2. Quarterly information is provided only for the companies that are December ending and files quarter reports and documents.
3. There can be cases where countries/regions data column/Charts will be blank. This can be due to the fact that the company might have discontinued the reporting of those countries/regions. Information that is not disclosed by the company may not be available in the report.

Reasons to buy

The report will enhance your decision making capability in a more rapid and time sensitive manner. It will allow you to -
- Be up-to-date with the latest information and in-depth analysis of the operational metrics of the company.
- Identify M&A targets from up-to-date information and in-depth analysis on financial and operational metrics of your competitors.
- Rank your performance against other companies in the exploration and production (E&P) sector using operational and financial benchmarking metrics.
- Formulate your strategies based on in-depth analysis of your competitors’ financial and operational data.
- Exploit the strengths and weakness of your closest competitors by comparing and analyzing their financial and operational metrics.
- Establish relative performance among the industry’s players based on key operational and financial measures.

Table of Contents
Table of Contents 2
List of Tables 4
List of Figures 5
Company Snapshot 8
Key Information 8
Company Overview 8
Vanguard Natural Resources, LLC, Valuation and Financial Data 9
Vanguard Natural Resources, LLC, Share Price Performance 9
Share Price Performance, Q4, 2014-Q4, 2015 9
Vanguard Natural Resources, LLC, Key Valuation Metrics 10
Key Valuation Metrics, Q4, 2014-Q4, 2015 10
Vanguard Natural Resources, LLC, Quarterly Results of Oil & Gas Operations Per boe Produced 11
Results of Oil & Gas Operations Per boe Produced, Q4, 2014-Q4, 2015 11
Results of Oil & Gas Operations Per boe Growth Rates, Q4, 2014-Q4, 2015 12
Vanguard Natural Resources, LLC, Quarterly E&P Costs Trends 13
Upstream Capital Expenditure, Q4, 2014-Q4, 2015 13
Vanguard Natural Resources, LLC, Quarterly Production Trends 14
Vanguard Natural Resources, LLC, Total Oil and Gas Production 14
Total Crude Oil and Natural Gas Production Trend, Q4, 2014-Q4, 2015 14
Total Crude Oil & Natural Gas Production, By Country/Region, Q4, 2014-Q4, 2015 15
Vanguard Natural Resources, LLC, Crude Oil Production 16
Total Crude Oil Production Trend, Q4, 2014-Q4, 2015 16
Crude Oil Production, By Country/Region, Q4, 2014-Q4, 2015 17
Vanguard Natural Resources, LLC, Natural Gas Production 18
Total Natural Gas Production Trend, Q4, 2014-Q4, 2015 18
Natural Gas Production, By Country/Region, Q4, 2014-Q4, 2015 19
Vanguard Natural Resources, LLC, Valuation and Financial Data, 2011-2015 20
Vanguard Natural Resources, LLC, Share Price Performance, 2011-2015 20
Share Price Performance, 2011-2015 20
Key Valuation Metrics, 2011-2015 21
Vanguard Natural Resources, LLC, Production and Reserves Trends 22
Total Oil and Gas, Reserves and Production 22
Total Crude Oil and Natural Gas Production and Reserves Trend, 2011-2015 22
Total Crude Oil & Natural Gas Production and Reserves By Country/Region, 2011-2015 24
Total Crude Oil and Natural Gas Reserve Changes, 2011-2015 26
Crude Oil/Liquids Production and Reserve 27
Crude Oil/Liquids Production and Reserve Trend, 2011-2015 27
Crude Oil Production and Reserves By Country/Region, 2011-2015 28
Crude Oil/Liquids Reserve Changes, 2011-2015 30
Natural Gas Production and Reserve 31
Natural Gas Production and Reserve Trend, 2011-2015 31
Natural Gas Production and Reserves, By Country/Region, 2011-2015 32
Natural Gas Reserve Changes, 2011-2015 34
Total Crude Oil and Natural Gas Reserves Life Index 35
Total Crude Oil and Natural Gas Reserves Life Index, 2011-2015 35
Total Crude Oil and Natural Gas Reserves Life Index, By Country/Region, 2011-2015 36
Vanguard Natural Resources, LLC, E&P Costs Trends 38
Allocation of the Upstream Capital Expenditure 38
Upstream Capital Expenditure, 2011-2015 38
Exploration and Development Costs, By Country/Region, 2011-2015 39
Oil and Gas Cost Per boe, US$/boe 40
Oil and Gas Cost Per boe, US$/boe, 2011-2015 40
Oil and Gas Cost Per boe, US$/boe, By Country/Region, 2011-2015 41
Vanguard Natural Resources, LLC, Reserve Replacement Ratio 43
Oil and Gas Production Replacement Ratio 43
Oil and Gas Production Replacement Ratio, 2011-2015 43
Oil and Gas Production Replacement Ratio, By Country/Region, 2011-2015 45
Vanguard Natural Resources, LLC, Results of Oil & Gas Operations Trend 49
Oil and Gas Revenue and Expenses 49
Oil and Gas Revenue and Expenses, 2011-2015 49
Oil and Gas Revenue and Expenses, By Country/Region, 2011-2015 50
Oil and Gas Revenue and Expenses, Per boe 54
Oil and Gas Revenue and Expenses, By boe, 2011-2015 54
Oil and Gas Revenue and Expenses Per boe, By Country/Region, 2011-2015 55
Oil and Gas Performance Metrics 58
Vanguard Natural Resources, LLC, Land Holdings and Well Data 59
Developed and Undeveloped Acreage 59
Gross and Net Developed and Undeveloped Acreage, 2011-2015 59
Gross and Net Developed and Undeveloped Acreage, By Country/Region, 2011-2015 60
Well Statistics 63
Producible Oil and Gas Well, 2011-2015 63
Producible Oil and Gas Well, By Country/Region, 2011-2015 64
Exploration and Development Wells Drilled, 2011-2015 68
Recent Developments 69
Vanguard Natural Resources, LLC - Recent Developments 69
Jul 27, 2016: Vanguard Natural Resources Reports Second Quarter 2016 Results 69
May 26, 2016: Vanguard Natural Resources Announces Amendment To Credit Facility And Results Of Borrowing Base Redetermination 71
May 19, 2016: Vanguard Natural Resources Announces Closing Of Scoop/stack Asset Sale In Oklahoma And Provides Updated 2016 Outlook 72
Mar 04, 2016: Vanguard Natural Resources Reports Fourth Quarter And Full Year 2015 Operating And Financial Results, 2016 Outlook And Suspension Of Common And Preferred Distributions 72
Nov 09, 2015: Vanguard Natural Resources Reports Third Quarter 2015 Results 76
Sep 11, 2015: Boardwalk Pipeline, Columbia Pipeline, And Vanguard Natural Resources To Join The Alerian MLP Index And Alerian MLP Equal Weight Index 80
Sep 02, 2015: The Law Office Of Robbins Arroyo Announces That It Has Filed A Class Action Lawsuit Against LRR Energy (LRE) 81
Aug 03, 2015: Vanguard Natural Resources Reports Second Quarter 2015 Results 81
May 01, 2015: Vanguard Natural Resources Reports First Quarter 2015 Results 84
Apr 21, 2015: Brodsky & Smith Announces Investigation Of The Board Of Directors Of LRR Energy 86
Appendix 88
Methodology 88
Coverage 88
Secondary Research 88
Primary Research 88
Data Information Sources 89
Company Source 89
SEC/Other Regulatory Filings 89
Other Sources 89
Expert Panel Validation 89
Data Definition 89
Oil and Gas Reserves 89
Units of Measure 90
About GlobalData 90
Disclosure 90
Disclaimer 90

List of Tables
Table 1: Vanguard Natural Resources, LLC, Key Facts 8
Table 2: Vanguard Natural Resources, LLC, Share Price Performance, Q4, 2014-Q4, 2015 9
Table 3: Vanguard Natural Resources, LLC, Key Valuation Metrics, Q4, 2014-Q4, 2015 10
Table 4: Vanguard Natural Resources, LLC, Results of Oil & Gas Operations Per boe Produced, US$/boe, Q4, 2014-Q4, 2015 11
Table 5: Vanguard Natural Resources, LLC, Results of Oil & Gas Operations Per boe Growth Rates, %, Q4, 2014-Q4, 2015 12
Table 6: Vanguard Natural Resources, LLC, Upstream Capital Expenditure, Q4, 2014-Q4, 2015 13
Table 7: Vanguard Natural Resources, LLC, Total Crude Oil and Natural Gas, Production, Q4, 2014-Q4, 2015 14
Table 8: Vanguard Natural Resources, LLC, Total Oil & Gas Production, By Country/Region, mmboe, Q4, 2014-Q4, 2015 15
Table 9: Vanguard Natural Resources, LLC, Total Crude Oil Production, mmbbl, Q4, 2014-Q4, 2015 16
Table 10: Vanguard Natural Resources, LLC, Crude Oil Production, By Country/Region, mmbbl, Q4, 2014-Q4, 2015 17
Table 11: Vanguard Natural Resources, LLC, Total Natural Gas Production, bcf, Q4, 2014-Q4, 2015 18
Table 12: Vanguard Natural Resources, LLC, Natural Gas Production, By Country/Region, bcf, Q4, 2014-Q4, 2015 19
Table 13: Vanguard Natural Resources, LLC, Share Price Performance, 2011-2015 20
Table 14: Vanguard Natural Resources, LLC, Key Valuation Metrics, 2011-2015 21
Table 15: Vanguard Natural Resources, LLC, Total Crude Oil and Natural Gas, Production and Reserves, mmboe, 2011-2015 23
Table 16: Vanguard Natural Resources, LLC, Total Crude Oil & Natural Gas Production and Reserves, By Country/Region, mmboe, 2011-2015 25
Table 17: Vanguard Natural Resources, LLC, Total Crude Oil and Natural Gas Reserve Changes, mmboe, 2011-2015 26
Table 18: Vanguard Natural Resources, LLC, Crude Oil Production and Reserves Metrics, mmbbl, 2011-2015 27
Table 19: Vanguard Natural Resources, LLC, Crude Oil Production and Reserves, By Country/Region, mmbbl, 2011-2015 29
Table 20: Vanguard Natural Resources, LLC, Crude Oil Reserve Changes, mmbbl, 2011-2015 30
Table 21: Vanguard Natural Resources, LLC, Natural Gas Production and Reserves Metrics, bcf, 2011-2015 31
Table 22: Vanguard Natural Resources, LLC, Natural Gas Production and Reserves, By Country/Region, bcf, 2011-2015 33
Table 23: Vanguard Natural Resources, LLC, Natural Gas Reserve Changes, bcf, 2011-2015 34
Table 24: Vanguard Natural Resources, LLC, Oil and Gas Reserves Life Index, Years, 2011-2015 35
Table 25: Vanguard Natural Resources, LLC, Oil and Gas Reserves Life Index, By Country/Region, Years, 2011-2015 37
Table 26: Vanguard Natural Resources, LLC, Upstream Capital Expenditure, US$ mil, 2011-2015 38
Table 27: Vanguard Natural Resources, LLC, Exploration and Development Costs, By Country/Region, US$ mil, 2011-2015 39
Table 28: Vanguard Natural Resources, LLC, Reserves Replacement, Finding and Development Costs, Finding Cost and Proved Acquisition Costs Per boe, US$/boe, 2011-2015 40
Table 29: Vanguard Natural Resources, LLC, Reserves Replacement, Finding and Development Costs, Finding Cost and Proved Acquisition Costs Per boe, US$/boe, By Country/Region, 2011-2015 42
Table 30: Vanguard Natural Resources, LLC, Oil and Gas Production Replacement Ratio, %, 2011-2015 44
Table 31: Vanguard Natural Resources, LLC, 3-Year Wt.Avg. Oil and Gas Production Replacement Ratio, By Country/Region, %, 2011-2015 48
Table 32: Vanguard Natural Resources, LLC, Revenue and Expenses, US$ mil, 2011-2015 49
Table 33: Vanguard Natural Resources, LLC, Revenue and Expenses, By Country/Region, US$ mil, 2011-2015 53
Table 34: Vanguard Natural Resources, LLC, Oil and Gas Revenue and Expenses, US$/boe, 2011-2015 54
Table 35: Vanguard Natural Resources, LLC, Oil and Gas Revenue and Expenses, US$/boe, By Country/Region, 2011-2015 57
Table 36: Vanguard Natural Resources, LLC, Oil and Gas Performance Metrics, 2011-2015 58
Table 37: Vanguard Natural Resources, LLC, Land Holdings (Developed and Undeveloped Acreage), Acres, 2011-2015 59
Table 38: Vanguard Natural Resources, LLC, Land Holdings (Developed and Undeveloped Acreage), By Country/Region, Acres, 2011-2015 62
Table 39: Vanguard Natural Resources, LLC, Producible Oil and Gas Wells, 2011-2015 63
Table 40: Vanguard Natural Resources, LLC, Producible Oil and Gas Wells, By Country/Region, 2011-2015 67
Table 41: Vanguard Natural Resources, LLC, Exploratory and Developed Wells, 2011-2015 68

List of Figures
Figure 1: Vanguard Natural Resources, LLC, Share Price Performance, USD/Share, Q4, 2014-Q4, 2015 9
Figure 2: Vanguard Natural Resources, LLC, Key Valuation Metrics, EV/Production ($/boed), EV/Proved Reserve ($/boe), Q4, 2014-Q4, 2015 10
Figure 3: Vanguard Natural Resources, LLC, Results of Oil & Gas Operations Per boe Produced, US$/boe, Q4, 2014-Q4, 2015 11
Figure 4: Vanguard Natural Resources, LLC, Upstream Capital Expenditure, US$ mil, Q4, 2014-Q4, 2015 13
Figure 5: Vanguard Natural Resources, LLC, Total Crude Oil and Natural Gas, Production, mmboe, Q4, 2014-Q4, 2015 14
Figure 6: Vanguard Natural Resources, LLC, Total Oil & Gas Production, By Country/Region, mmboe, Q4, 2014-Q4, 2015 15
Figure 7: Vanguard Natural Resources, LLC, Total Crude Oil Production, mmbbl, Q4, 2014-Q4, 2015 16
Figure 8: Vanguard Natural Resources, LLC, Crude Oil Production, By Country/Region, mmbbl, Q4, 2014-Q4, 2015 17
Figure 9: Vanguard Natural Resources, LLC, Total Natural Gas Production, bcf, Q4, 2014-Q4, 2015 18
Figure 10: Vanguard Natural Resources, LLC, Natural Gas Production, By Country/Region, bcf, Q4, 2014-Q4, 2015 19
Figure 11: Vanguard Natural Resources, LLC, Share Price Performance, USD/Share, 2011-2015 20
Figure 12: Vanguard Natural Resources, LLC, Key Valuation Metrics, EV/Production ($/boed), EV/Proved Reserve (US$/boe), 2011-2015 21
Figure 13: Vanguard Natural Resources, LLC, Total Crude Oil and Natural Gas, Production and Reserves, mmboe, 2011-2015 22
Figure 14: Vanguard Natural Resources, LLC, Total Oil & Gas Reserves, End of Period, By Country/Region, mmboe, 2011-2015 24
Figure 15: Vanguard Natural Resources, LLC, Total Oil & Gas Production, By Country/Region, mmboe, 2011-2015 24
Figure 16: Vanguard Natural Resources, LLC, Total Crude Oil and Natural Gas Reserve Changes, mmboe, 2015 26
Figure 17: Vanguard Natural Resources, LLC, Crude Oil Production and Reserves Metrics, mmbbl, 2011-2015 27
Figure 18: Vanguard Natural Resources, LLC, Oil Reserves, End of Period, By Country/Region, mmbbl, 2011-2015 28
Figure 19: Vanguard Natural Resources, LLC, Oil Production, By Country/Region, mmbbl, 2011-2015 28
Figure 20: Vanguard Natural Resources, LLC, Crude Oil Reserve Changes, mmbbl, 2015 30
Figure 21: Vanguard Natural Resources, LLC, Natural Gas Production and Reserves Metrics, bcf, 2011-2015 31
Figure 22: Vanguard Natural Resources, LLC, Gas Reserves, End of Period, By Country/Region, bcf, 2011-2015 32
Figure 23: Vanguard Natural Resources, LLC, Gas Production, By Country/Region, bcf, 2011-2015 32
Figure 24: Vanguard Natural Resources, LLC, Natural Gas Reserve Changes, bcf, 2015 34
Figure 25: Vanguard Natural Resources, LLC, Oil and Gas Reserves Life Index, Years, 2011-2015 35
Figure 26: Vanguard Natural Resources, LLC, Gas Reserve Life Index, By Country/Region, Years, 2011-2015 36
Figure 27: Vanguard Natural Resources, LLC, Oil & Gas Reserve Life Index, By Country/Region, Years, 2011-2015 36
Figure 28: Vanguard Natural Resources, LLC, Oil Reserve Life Index, By Country/Region, Years, 2011-2015 37
Figure 29: Vanguard Natural Resources, LLC, Development Costs, By Country/Region, US$ mil, 2011-2015 39
Figure 30: Vanguard Natural Resources, LLC, 3-Year Wt.Avg., Reserves Replacement, Finding and Development Costs, Finding Cost and Proved Acquisition Costs Per boe, US$/boe, 2011-2015 40
Figure 31: Vanguard Natural Resources, LLC, Oil & Gas Finding & Development Cost/boe, 3-Year Average, By Country/Region, US$/boe, 2011-2015 41
Figure 32: Vanguard Natural Resources, LLC, Reserve Replacement Cost per boe, 3-Year Average, By Country/Region, US$/boe, 2011-2015 41
Figure 33: Vanguard Natural Resources, LLC, 3-Year Wt.Avg., Oil and Gas Production Replacement Ratio, %, 2011-2015 43
Figure 34: Vanguard Natural Resources, LLC, 3-Year Wt. Avg. Gas F&D Production Replacement, By Country/Region, %, 2011-2015 45
Figure 35: Vanguard Natural Resources, LLC, 3-Year Wt. Avg. Gas RRC Production Replacement, By Country/Region, %, 2011-2015 45
Figure 36: Vanguard Natural Resources, LLC, 3-Year Wt. Avg. Oil & Gas F&D Production Replacement, By Country/Region, %, 2011-2015 46
Figure 37: Vanguard Natural Resources, LLC, 3-Year Wt. Avg. Oil & Gas RRC Production Replacement, By Country/Region, %, 2011-2015 46
Figure 38: Vanguard Natural Resources, LLC, 3-Year Wt. Avg. Oil F&D Production Replacement, By Country/Region, %, 2011-2015 47
Figure 39: Vanguard Natural Resources, LLC, 3-Year Wt. Avg. Oil RRC Production Replacement, By Country/Region, %, 2011-2015 47
Figure 40: Vanguard Natural Resources, LLC, Revenue and Expenses, US$ mil, 2011-2015 49
Figure 41: Vanguard Natural Resources, LLC, Depreciation, Depletion and Amortization From Upstream Oil & Gas Operations, By Country/Region, US$ mil, 2011-2015 50
Figure 42: Vanguard Natural Resources, LLC, Net Income/ Loss From Upstream Oil & Gas Operations, By Country/Region, US$ mil, 2011-2015 50
Figure 43: Vanguard Natural Resources, LLC, Oil & Gas Revenue, By Country/Region, US$ mil, 2011-2015 51
Figure 44: Vanguard Natural Resources, LLC, Profit (loss) Before Taxation From Upstream Oil & Gas Operations, By Country/Region, US$ mil, 2011-2015 51
Figure 45: Vanguard Natural Resources, LLC, Production Costs, By Country/Region, US$ mil, 2011-2015 52
Figure 46: Vanguard Natural Resources, LLC, Total Expenses From Upstream Oil & Gas Operations, By Country/Region, US$ mil, 2011-2015 52
Figure 47: Vanguard Natural Resources, LLC, Oil and Gas Revenue and Expenses, US$/boe, 2011-2015 54
Figure 48: Vanguard Natural Resources, LLC, Lifting Cost per boe, By Country/Region, US$/boe, 2011-2015 55
Figure 49: Vanguard Natural Resources, LLC, Annual Net Income per boe, By Country/Region, US$/boe, 2011-2015 55
Figure 50: Vanguard Natural Resources, LLC, Oil & Gas Revenue per boe, By Country/Region, US$/boe, 2011-2015 56
Figure 51: Vanguard Natural Resources, LLC, Total DD&A per boe, By Country/Region, US$/boe, 2011-2015 56
Figure 52: Vanguard Natural Resources, LLC, Total Revenue per boe, By Country/Region, US$/boe, 2011-2015 57
Figure 53: Vanguard Natural Resources, LLC, Oil and Gas Performance Metrics, 2011-2015 58
Figure 54: Vanguard Natural Resources, LLC, Land Holdings (Developed and Undeveloped Acreage), Acres, 2011-2015 59
Figure 55: Vanguard Natural Resources, LLC, Total Gross Undeveloped Acreage, By Country/Region, Acres, 2011-2015 60
Figure 56: Vanguard Natural Resources, LLC, Total Net Undeveloped Acreage, By Country/Region, Acres, 2011-2015 60
Figure 57: Vanguard Natural Resources, LLC, Total Gross Developed Acreage, By Country/Region, Acres, 2011-2015 61
Figure 58: Vanguard Natural Resources, LLC, Total Net Developed Acreage, By Country/Region, Acres, 2011-2015 61
Figure 59: Vanguard Natural Resources, LLC, Producible Oil and Gas Wells, 2011-2015 63
Figure 60: Vanguard Natural Resources, LLC, Gross Productive Gas Wells, By Country/Region, Number, 2011-2015 64
Figure 61: Vanguard Natural Resources, LLC, Gross Productive Oil & Gas Wells, By Country/Region, Number, 2011-2015 64
Figure 62: Vanguard Natural Resources, LLC, Gross Productive Oil Wells, By Country/Region, Number, 2011-2015 65
Figure 63: Vanguard Natural Resources, LLC, Net/Gross Oil & Gas Ratio, By Country/Region, %, 2011-2015 65
Figure 64: Vanguard Natural Resources, LLC, Net Productive Gas Wells, By Country/Region, Number, 2011-2015 66
Figure 65: Vanguard Natural Resources, LLC, Net Productive Oil & Gas Wells, By Country/Region, Number, 2011-2015 66
Figure 66: Vanguard Natural Resources, LLC, Net Productive Oil Wells, By Country/Region, Number, 2011-2015 67
Figure 67: Vanguard Natural Resources, LLC, Exploratory and Developed Wells, 2011-2015 68


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