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.

Updates

December 7, 2016: update on Lime Rock activities back to November 2, 2015:

• DUCs reported as completed:
• 29600, 299, Lime Rock Resources, Kenneth Stroh 3-12-1H-143-97, Cabernet, t11/16; cum -- 
• 29601, 250, Lime Rock Resources, Kenneth Stroh 5-1H-143-97, Cabernet, t9/16; cum -- 
• Permits renewed:
• Cabernet oil field: State permit, Kary permit
• Cabernet oil field: two Raphael Stroh permits
• 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:

• Reuters reports that OXY USA sold 300,000 acres of Bakken acreage for $500 million, but does not name the buyer, October 16, 2016; The Dickinson Press named the buyer as Lime Rock Resources; as of October 30, 2016, The Wall Street Journal still reports the buyer "as undisclosed." Suggestion: the agreement between OXY and Lime Rock is a "memorandum of understanding," and the buyer cannot be named until the deal closes. 
• OXY rumor, September 28, 2015.
• February 2, 2015:  MDU sale of assets to Lime Rock: Fidelity Exploration transferred about 81 gross wells, of which 49 are operated by Fidelity to Lime Rock Resources III-A. All of these were in Mountrail County; 6 in Alger field, 43 in Stanley field. The sale included 4,363 acres with production of about 2,000 bopd. The earlier permit/well file number was #17359; the most recent permit/well file number was #27192. According to the NDIC, Lime Rock has 51 wells/permits, so this is a new operator in North Dakota, also. Or it appears to be a new operator. If this is their website, the company previously had three core areas, all outside of the Bakken (mid-continent -- Louisiana, Arkansas, Mississippi); the Permian Basin; and, the Texas Gulf Coast). If this is the right company, this is their first property in the Bakken. [Update: Don sent me the link to the original press release which provides more background information: http://www.mdu.com/news/2014/07/21/mdu-resources-announces-sale-of-certain-mountrail-county-north-dakota-production-assets.]

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Background

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.

• operations in the Williston Basin
• annual report; in the 2014 annual report, the Bakken is mentioned only once 

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: http://www.businesswire.com/news/home/20150420006784/en/Vanguard-Natural-Resources-Announces-Deal-Acquire-LRR.

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.