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TheStreet Open House

Vanguard Natural Resources Reports Third Quarter 2012 Results

Stock quotes in this article: VNR

The following table summarizes new commodity derivative contracts put in place during the three months ended September 30, 2012 (the natural gas hedges were entered into during the July 2012 Arkoma acquisition hedge restructure, which was previously disclosed):

      Year       Year       Year       Year       Year       Year
2012       2013 (1)       2014       2015 (1)       2016       2017
Gas Positions:
Fixed Price Swaps (Arkoma Basin acquisition):
Notional Volume (MMbtu) 1,610,000 5,475,000 6,752,500 10,950,000 16,470,000 7,602,000
Price ($/MMbtu) $ 5.03 $ 3.32 $ 5.04 $ 4.69 $ 5.04 $ 5.04
 

Oil Positions:

Fixed Price Swaps:
Notional Volume (MMbtu) 92,000 378,400
Price ($/MMbtu) $ 91.50 $ 95.62
Three-Way Collars:
Notional Volume (MBbls) 91
Floor Price ($/Bbl) $ 90.00
Ceiling Price ($/Bbl) $ 100.00
Put Sold ($/Bbl) $ 70.50
(1)       In 2013 and 2015, the new natural gas hedges entered into in connection with the Arkoma acquisition hedge restructure were done at lower strike prices to obtain a weighted average strike price of $5.04/Mmbtu due to the acquired hedges being above $5.04/Mmbtu.

For a summary of all commodity and interest rate derivative contracts in place at September 30, 2012, please refer to our Quarterly Report on Form 10-Q which is expected to be filed on November 2, 2012.

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