Bloomberg the Company & Products

Bloomberg Anywhere Login

Bloomberg

Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the world.

Company

Financial Products

Enterprise Products

Media

Customer Support

  • Americas

    +1 212 318 2000

  • Europe, Middle East, & Africa

    +44 20 7330 7500

  • Asia Pacific

    +65 6212 1000

Communications

Industry Products

Media Services

Follow Us


May 05, 2015 10:47 AM 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, 2014, the company had total estimated proved reserves of approximately 33.8 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: $96.4K
Chairman of LRE GP LLC and Co-Chief Executive Officer of LRE GP LLC
Age: 52
Total Annual Compensation: $85.1K
Chief Financial Officer of LRE GP LLC and Vice President of LRE GP LLC
Age: 44
Total Annual Compensation: $500.0K
Chief Operating Officer of LRE GP LLLC and Executive Vice President of LRE GP LLC
Age: 54
Total Annual Compensation: $125.0K
Chief Engineer of LRE GP LLLC and Senior Vice President of Engineering - LRE GP LLC
Age: 53
Total Annual Compensation: $130.5K
Compensation as of Fiscal Year 2014.

LRR Energy, L.P. Key Developments

LRR Energy, L.P. Announces Unaudited Consolidated Earnings and Production Results for the First Quarter Ended March 31, 2015; Announces Impairment of Oil and Natural Gas Properties for the First Quarter Ended March 31, 2015

LRR Energy, L.P. announced unaudited consolidated earnings and production results for the first quarter ended March 31, 2015. For the quarter, the company reported total revenues of $36,212,000 compared to $26,028,000 a year ago. Operating loss was $20,778,000 compared to operating income of $5,603,000 a year ago. Loss before taxes was $24,898,000 compared to income before taxes of $2,768,000 a year ago. Net loss available to unit holders was $24,936,000 or $0.82 per basic and diluted share compared to net income available to unit holders of $2,694,000 or $0.10 per basic and diluted share a year ago. Net cash provided by operating activities was $15,648,000 compared to $16,126,000 a year ago. Development of oil and natural gas properties was $12,280,000 compared to $6,803,000 a year ago. Adjusted EBITDA was $19,565,000 compared to $21,041,000 a year ago. Distributable cash flow was $11,834,000 compared to $13,353,000 a year ago. Despite higher production, adjusted EBITDA and distributable cash flow were negatively impacted by lower price realizations and higher G&A costs compared to the fourth quarter. Capital expenditures totaled $12.3 million for the quarter, which included approximately $9 million of accrued capital cost at year-end 2014. For the quarter, the company reported oil production of 275 MBbls, natural gas production of 1,518 MMcf, NGLs production of 90 MBbls and average net production of 6,867 Boe/d against oil production of 218 MBbls, natural gas production of 1,622 MMcf, NGLs production of 85 MBbls and average net production of 6,367 Boe/d a year ago. For the quarter, impairment of oil and natural gas properties was $35,706,000. The impairment was primarily due to lower estimated future net commodity prices.

LRR Energy, L.P., Vanguard Natural Resources, LLC, LRE GP, LLC - M&A Call

LRR Energy, L.P., Vanguard Natural Resources, LLC, LRE GP, LLC - M&A Call

LRR Energy, L.P. Announces Cash Distribution for the First Quarter of 2015, Payable on May 15, 2015

LRR Energy, L.P. announced that the Board of Directors of its general partner declared a cash distribution for the first quarter of 2015 of $0.1875 per outstanding unit, or $0.75 on an annualized basis. The distribution will be paid on May 15, 2015, to all unit holders of record as of the close of business on May 1, 2015. The distribution represents a 62% reduction from LRR Energys last quarterly distribution which was $0.4975 per outstanding unit, or $1.99 on an annualized basis.

Similar Private Companies By Industry

Company Name Region
Lovington-Artesia, L.L.C United States
Harris Oil, Inc. United States
Apple Petroleum Corp. United States
Matador Production Co. United States
DCP Lucerne 1 Plant LLC United States

Recent Private Companies Transactions

Type
Date
Target
Merger/Acquisition
April 20, 2015
--
Merger/Acquisition
September 2, 2014
Oil and Natural Gas Properties in Lincoln and Creek Counties, Oklahoma
 

Stock Quotes

Market data is delayed at least 15 minutes.

Company Lookup

Most Searched Private Companies

Company Name Geographic Region
Lawyers Committee for Civil Rights Under Law United States
Bertelsmann AG Europe
NYC2012, Inc. United States
Rush University United States
Citizens Budget Commission United States

Sponsored Financial Commentaries

Sponsored Links

Report Data Issue

To contact LRR Energy, L.P., please visit www.lrrenergy.com. Company data is provided by Capital IQ. Please use this form to report any data issues.

Please enter your information in the following field(s):
Update Needed*

All data changes require verification from public sources. Please include the correct value or values and a source where we can verify.

Your requested update has been submitted

Our data partners will research the update request and update the information on this page if necessary. Research and follow-up could take several weeks. If you have questions, you can contact them at bwwebmaster@businessweek.com.