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Last $9.02 USD
Change Today -0.3335 / -3.57%
Volume 313.9K
As of 12:53 PM 09/1/15 All times are local (Market data is delayed by at least 15 minutes).

vanguard natural resources (VNR) Key Developments

Vanguard Natural Resources Declares Monthly Cash Distributions on Common Units, Payable on September 14, 2015 and on Preferred Units, Payable on September 15, 2015

Vanguard Natural Resources, LLC has declared a cash distribution attributable to the month of July 2015 of $0.1175 per unit ($1.41 on an annual basis) payable on September 14, 2015 to unitholders of record on September 1, 2015. Vanguard has also declared cash distributions for its 7.875% Series A Cumulative Redeemable Perpetual Preferred Units of $0.1641 per unit, its 7.625% Series B Cumulative Redeemable Perpetual Preferred Units of $0.15885 per unit, and its 7.75% Series C Cumulative Redeemable Perpetual Preferred Units of $0.16146 per unit, all payable on September 15, 2015 to unitholders of record on September 1, 2015.

Vanguard Seeks Acquisitions

Vanguard Natural Resources, LLC (NasdaqGS:VNR) is looking for acquisitions. The company said that it will be conservative in their approach towards acquisitions in the near term.

Vanguard Natural Resources, LLC Announces Unaudited Consolidated Earnings Results for the Second Quarter and Six Months Ended June 30, 2015; Reports Impairment Charge on Oil and Natural Gas Properties for the Second Quarter Ended June 30, 2015; Provides Capital Expenditures Guidance for the Third Quarter of 2015 and the Remainder of the Year 2015

Vanguard Natural Resources, LLC announced unaudited consolidated earnings results for the second quarter and six months ended June 30, 2015. For the quarter, the company reported average production of 368 MMcfe per day against 315 MMcfe per day a year ago. Total production volumes were 33,514 MMcfe against 28,664 MMcfe a year ago. For the six months, the company reported average production of 381 MMcfe per day against 292 MMcfe per day a year ago. Total production volumes were 69,003 MMcfe against 52,786 MMcfe a year ago. For the second quarter, the company reported impairment charge on oil and natural gas properties of $733.365 million. For the quarter, the company reported net loss attributable to common and class B unit holders was $800.335 million against $9.333 million a year ago. Adjusted net loss attributable to common and class B unit holders was $6.597 million or $0.07 per unit against adjusted net income attributable to common and class B unit holders of $21.965 million or $0.27 per unit a year ago. Adjusted EBITDA was $90.579 million against $97.690 million a year ago. Estimated maintenance capital expenditures were $27.031 million against $31.337 million a year ago. Distributable cash flow available to common and class B unit holders decreased to $35.494 million or $0.41 per unit from the $46.143 million or $0.57 per unit generated in the second quarter of 2014 and increased 10% from the $32.4 million generated in the first quarter of 2015. Total capital expenditures for the drilling, capital work-over and recompletion of oil and natural gas properties were approximately $27.0 million in the second quarter of 2015 compared to $36.4 million for the comparable quarter of 2014 and $25.1 million for the first quarter of 2015. Capital spending in the second quarter of 2015 included only maintenance capital expenditures. For the second quarter of 2014, capital spending included maintenance capital expenditures of approximately $31.3 million and growth capital expenditures of $5.1 million primarily associated with the Pinedale acquisition in the Green River Basin. Net loss was $793.645 million against $4.737 million a year ago. For the six months, the company reported net loss attributable to common and class B unit holders was $925.855 million against net income attributable to common and class B unit holders of $3.825 million a year ago. Adjusted net income attributable to common and class B unit holders were $11.389 million or $0.13 per unit against $46.568 million or $0.59 per unit a year ago. Adjusted EBITDA was $175.918 million against $187.552 million a year ago. Estimated maintenance capital expenditures were $52.100 million against $60.151 million a year ago. Distributable cash flow available to common and class B unit holders for the first six months of 2015 decreased 23% to $67.895 million or $0.79 per unit from the $87.980 million or $1.09 per unit generated in the first six months of 2014. Total capital expenditures were approximately $52.1 million for the first six months of 2015 compared to $67.7 million in the comparable period of 2014. Net loss was $912.475 million against net income of $10.383 million a year ago. The company currently anticipates a total capital expenditures budget for the remainder of 2015 to range between $57.0 million and $61.0 million, with approximately 67% ($38.2 million to $40.9 million) of the remaining capital expenditures being spent in the third quarter of 2015, excluding any potential future acquisitions. The company expects to spend approximately 39% ($22.2 million to $23.8 million) of the remaining 2015 capital budget in the Gulf Coast Basin on the East Haynesville assets drilling both vertical and horizontal wells. Additionally, the company expects to spend approximately 37% ($21.1 million to $22.6 million) of the remaining 2015 capital budget on activities in the Green River Basin where the company will participate as a non-operated partner in the drilling and completion of vertical natural gas wells. The balance of the remaining 2015 budget ($13.7 million to $14.6 million) is related to maintenance activities in its other operating areas. The potential impact of the LRE Merger and Eagle Rock Merger is not included in the total capital expenditures.

Vanguard Natural Resources, LLC to Report Q2, 2015 Results on Aug 03, 2015

Vanguard Natural Resources, LLC announced that they will report Q2, 2015 results at 5:00 PM, Eastern Standard Time on Aug 03, 2015

Vanguard Natural Resources, LLC, Q2 2015 Earnings Call, Aug 04, 2015

Vanguard Natural Resources, LLC, Q2 2015 Earnings Call, Aug 04, 2015

 

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Industry Analysis

VNR

Industry Average

Valuation VNR Industry Range
Price/Earnings NM Not Meaningful
Price/Sales 1.6x
Price/Book 3.4x
Price/Cash Flow NM Not Meaningful
TEV/Sales NM Not Meaningful
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