- Immediately accretive to distributable cash flow at closing;
- Estimated reserve life of over 20 years based on internally estimated proved reserves of 847 Bcfe;
- Properties consist of approximately 87,000 gross acres (14,000 net acres) that are currently producing approximately 113.4 Mmcfe per day with approximately 80% being natural gas, 4% oil and 16% natural gas liquids (“NGLs”);
- Reserves and daily production will increase approximately 80% and 55%, respectively;
- Approximately 2,000 producing wells;
- Additional inventory of approximately 970 proved undeveloped drilling locations;
- Approximately 5,200 additional locations not booked at this time due to the current expectation that they will not be drilled within a five year period as required by the SEC for recording proved reserves;
- 100% non-operated properties with an average working interest of 10% and partnering with two major operators in the area, Ultra Petroleum Corp. (NYSE: UPL) and QEP Resources, Inc. (NYSE: QEP);
- Expect an 8 rig drilling program, with each rig anticipated to drill 2 wells per month in 2014.
Vanguard Natural Resources, LLC Announces Closing Of Properties In Wyoming
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