Vanguard Natural Resources, LLC, through its subsidiaries, acquires and develops oil and natural gas properties in the United States. Reserves The company’s total estimated proved reserves, as of December 31, 2015 were 2,288.9 Bcfe (billion cubic feet equivalents), of which approximately 17% were oil reserves, 68% were natural gas reserves and 15% were natural gas liquids (NGLs) reserves. As of December 31, 2015, the company owned working interests in 14,459 gross (5,285 net) productive wells. The company owns approximately 881,508 gross undeveloped leasehold acres surrounding its existing wells. As of December 31, 2015, the company has identified 1,591 proved undeveloped drilling locations and approximately 5,013 other drilling locations on its leasehold acreage. Properties Through its operating subsidiaries, as of December 31, 2015, the company owned properties and oil and natural gas reserves primarily located in 10 operating basins: the Green River Basin in Wyoming; the Permian Basin in West Texas and New Mexico; the Gulf Coast Basin in Texas, Louisiana, Mississippi and Alabama; the Anadarko Basin in Oklahoma and North Texas; the Piceance Basin in Colorado; the Big Horn Basin in Wyoming and Montana; the Arkoma Basin in Arkansas and Oklahoma; the Williston Basin in North Dakota and Montana; the Wind River Basin in Wyoming; and the Powder River Basin in Wyoming. Green River Basin Properties The company’s Green River Basin properties comprise assets in the Pinedale and Jonah fields of southwestern Wyoming. The Pinedale Field lies at depths anywhere between 11,000 to 14,000 feet with similar depths in the adjacent Jonah field. Additionally, the company has Green River Basin properties located in the Hay Reservoir, Great Divide, Siberia Ridge, Wamsutter, Echo Springs and Standard Draw fields in southwestern Wyoming. As of December 31, 2015, its Green River Basin properties consisted of 126,420 gross (35,170 net) leasehold acres. Permian Basin Properties The Permian Basin is a prolific oil and natural gas producing basin in the United States extending over West Texas and southeast New Mexico. The majority of its producing wells in the Permian Basin are mature oil wells that also produce high-Btu casinghead gas with significant NGLs content. These properties primarily produce at depths ranging from 2,000 feet to 12,000 feet. As of December 31, 2015, its Permian Basin properties consisted of 326,183 gross (250,715 net) leasehold acres. Gulf Coast Basin Properties The Gulf Coast Basin properties include properties in the onshore Gulf Coast area, North Louisiana, Alabama, East Texas, South Texas and Mississippi. Production from the North Louisiana properties comes from the East Haynesville and Cotton Valley fields. These properties include multiple productive zones, including Cotton Valley, James Lime, Pettet, Haynesville, Smackover and Hosston. East Haynesville is located in Claiborne Parish, Louisiana and lies at a depth of approximately 9,000 to 11,000 feet. The Cotton Valley field is located in Webster Parish, Louisiana and produces from an average depth of 11,000 feet. The company’s Alabaman properties include the Big Escambia Creek, Flomaton and Fanny Church fields located in Escambia County, Alabama. These fields produce from either the Smackover or Norphlet formations at depths ranging from approximately 15,000 to 16,000 feet. Majority of its South Texas producing properties are located in Dewitt, Hidalgo, LaSalle, Live Oak and Webb counties. Its average working interest is approximately 82%. The company’s East Texas producing properties include the Fairway (James Lime Unit) field in Henderson and Anderson counties, which is produced from an average depth of 10,000 feet. The company operates the majority of its Mississippi properties, which are located in the Mississippi Salt Basin. Majority of its production comes from the Parker Creek field in Jones County, Mississippi, where its working interest is approximately 60%. Its other Mississippi properties are located in Covington, Jasper, Clarke, Leflore, Jefferson Davis, Wayne and Walthall counties. Production from the company’s propert
vanguard natural resources
5847 San Felipe
Houston, TX 77057
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