February 01, 2015 10:00 PM ET

Oil, Gas and Consumable Fuels

Company Overview of LRR Energy, L.P.

Company Overview

LRR Energy, L.P., through its subsidiary, LRE Operating, LLC, operates, acquires, exploits, and develops producing oil and natural gas properties in North America. It holds interests in various properties located in the Permian Basin region in west Texas and southeast New Mexico; the Mid-Continent region in Oklahoma and east Texas; and the Gulf Coast region in Texas. As of December 31, 2013, the company had total estimated proved reserves of approximately 30.1 million barrels of oil equivalent. LRE GP, LLC serves as the general partner of the company. The company was founded in 2011 and is based in Houston, Texas.

Heritage Plaza

1111 Bagby Street

Suite 4600

Houston, TX 77002

United States

Founded in 2011

Phone:

713-292-9510

Key Executives for LRR Energy, L.P.

Co-Chief Executive Officer of LRE GP LLC and Director of LRE GP LLC
Age: 61
Total Annual Compensation: $82.8K
Chairman of LRE GP LLC and Co-Chief Executive Officer of LRE GP LLC
Age: 52
Total Annual Compensation: $77.2K
Chief Financial Officer of LRE GP LLC
Age: 44
Total Annual Compensation: $492.0K
Chief Operating Officer of LRE GP LLC and Vice President of LRE GP LLC
Age: 54
Total Annual Compensation: $133.4K
Chief Engineer of LRE GP LLC and Vice President of LRE GP LLC
Age: 53
Total Annual Compensation: $110.8K
Compensation as of Fiscal Year 2013.

LRR Energy, L.P. Key Developments

LRR Energy, L.P. Announces Quarterly Cash Distribution, Payable on February 13, 2015

LRR Energy, L.P. announced that the Board of Directors of its general partner declared a cash distribution for the fourth quarter of 2014 of $0.4975 per outstanding unit, or $1.99 on an annualized basis. The distribution will be paid on February 13, 2015, to all unitholders of record as of the close of business on January 30, 2015.

LRR Energy, L.P. Presents at RBC Capital Markets MLP Conference, Nov-19-2014

LRR Energy, L.P. Presents at RBC Capital Markets MLP Conference, Nov-19-2014 . Venue: The Ritz-Carlton, Dallas, Texas, United States.

LRR Energy, L.P. Reports Operating and Financial Results for the Third Quarter and Nine Months Ended September 30, 2014; Revises Production Guidance for the Year 2014 and Provides Capital Expenditures Guidance for the Year 2014

LRR Energy, L.P. reported operating and financial results for the third quarter and nine months ended September 30, 2014. For the quarter, the company reported total revenues of $48.382 million against $25.195 million a year ago. Operating income was $28.317 million against $4.069 million a year ago. Income before taxes was $26.258 million against $0.319 million a year ago. Net income available to unitholders was $26.232 million or $0.95 per basic and diluted share against $0.284 million or $0.01 per basic and diluted share a year ago. Adjusted EBITDA was $20.845 million against $21.546 million a year ago. Distributable cash flow was $13.119 million against $13.998 million a year ago. Capital expenditures were $8.746 million. For the nine months, the company reported total revenues of $91.801 million against $84.354 million a year ago. Operating income was $30.324 million against $19.399 million a year ago. Income before taxes was $21.727 million against $13.907 million a year ago. Net income available to unitholders was $21.589 million or $0.95 per basic and diluted share against $13.357 million or $0.01 per basic and diluted share a year ago. Net cash provided by operating activities was $48.294 million against $47.709 million a year ago. Development of oil and natural gas properties was $25.840 million against $24.857 million a year ago. Adjusted EBITDA was $61.522 million against $59.119 million a year ago. Distributable cash flow was $38.307 million against $36.732 million a year ago. For the quarter, the company reported production of oil of 219 MBbls against 216 MBbls a year ago. Natural gas was 1,609 MMcf 1,849 MMcf a year ago. NGLs was 93 MBbls against 84 MBbls a year ago. Total was 580 MBoe against 60 MBoe a year ago. Average net production was 6,304 Boe/d against 6,609 Boe/d a year ago. For the nine months, the company reported production of oil of 653 MBbls against 614 MBbls a year ago. Natural gas was 4,897 MMcf against 5,500 MMcf a year ago. NGLs was 268 was MBbls against 229 MBbls a year ago. Total was 1,737 MBoe against 1,760 MBoe a year ago. Average net production was 6,363 Boe/d against 6,447 Boe/d a year ago. The company has revised its full year 2014 guidance based on actual results for the nine months ended September 30, 2014 and a decreased capital development program for the second half of 2014. The company expects daily production between 6,450 Boe/d to 6,550 Boe/d against previously excepted range of 6,400 Boe/d to 6,450 Boe/d; and capital expenditures $37.5 million.

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