Sunday, November 1, 2015

Lime Rock Resources

This is simply some housekeeping. I am adding Lime Rock Resources and Vanguard Natural Resources to one of the sections at the sidebar at the right. This is where these entities will now be tracked. I am not yet sure if Lime Rock Resources is a subsidiary of Vanguard Natural Resources, but that will sort itself out later.

As usual, the background is down below; the updates are below, newest updates listed first.


December 7, 2016: update on Lime Rock activities back to November 2, 2015:
  • DUCs reported as completed:
  • Permits renewed:
  • Stroh wells: updated through October, 2016 
  • NDIC ArcIMS viewer: no active rigs in Cabernet oil field
  • Bottom line: it appears Lime Rock Resources is "cleaning" up its Fidelity permits (renewing and canceling); and, completing DUCs at the rate of about one/month.
November 2, 2015: analysts are already talking about re-frac opportunity for Lime Rock in the OXY deal in the Bakken. 

Updates prior to end of October, 2015:

Vanguard Natural Resources
Business Summary from Yahoo!Finance:
Vanguard Natural Resources, LLC, through its subsidiaries, acquires and develops oil and natural gas properties in the United States. It owns properties, and oil and natural gas reserves primarily located in nine operating basins, including the Arkoma Basin in Arkansas and Oklahoma; the Permian Basin in West Texas and New Mexico; the Big Horn Basin in Wyoming and Montana; the Piceance Basin in Colorado; the Gulf Coast Basin in Texas, Louisiana, and Mississippi; the Wind River Basin in Wyoming; the Williston Basin in North Dakota and Montana; the Green River Basin in Wyoming; and the Powder River Basin in Wyoming. As of December 31, 2014, the company had total estimated proved reserves of 2,031.3 million barrels of oil equivalent, as well as owned working interests in 9,759 gross productive wells and approximately 870,140 gross undeveloped acres. Vanguard Natural Resources, LLC was founded in 2006 and is headquartered in Houston, Texas.
Vanguard Natural Resources: website.
Relationship between Vanguard Natural Resources, Lime Rock Energy (LRE), and Lime Rock Resources (my notes are not ready for "Prime Time" but are being posted for my benefit only -- if this information is important to you, go to the source. My information is likely to have typographical and factual errors.

Disclaimer: the usual disclaimer holds. This is not an investment site. Do not make any investment or financial decisions based on anything you read here or think you may have read here. 

From my notes to another reader:
There is an entity called Vanguard Natural Resources.

Recently it merged / bought / whatever / LRR Energy (traded on NYSE as LRE).

At this website it shows Eric Mullins and Charlie Addock as the co-CEOs of LRR Energy:

At the Lime Rock Resources site, it shows the same two (Eric Mullins and Charlie Addock) as co-CEOs of Lime Rock.

At the press release linked above, in August, 2015: "As a result of the transaction, LRR Energy and its general partner will become wholly owned subsidiaries of Vanguard."

Also, at that merger press release linked above: "On the closing of the transaction, LRR Energy will be terminating the existing management services agreement with Lime Rock Management LP and Lime Rock Resources Operating Company, Inc."
I don't know if that means Lime Rock Resources is cut loose to become its own entity or whether it is a subsidiary of Vanguard Natural Resources. I assume the latter.

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