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In addition, our Schedule K1s will be available to download from our website on or about March 9 th and mailed to our unitholders on or about March 12 th. Please note on December 1, 2011 Vanguard Natural Resources acquired an interest in the publically traded partnership Encore Energy Partners, LLP. As a result, if you held Encore units through December 1, 2011 you will receive a K1 from both Encore and Vanguard.We are pleased to report as we continuously strive to provide useful information of our operations and financials to our analyst and unitholders, we have created a presentation of supplemental Q4 and full year 2011 earnings results and 2012 outlook which can be found online at our website under the investor relations’ tab in the presentation folder. I now would like to turn the call over to Scott Smith, President and Chief Executive Officer. Scott W. Smith Thanks for joining us to review the results of the fourth quarter and full year 2011. With me this morning on the call are Richard Robert, our Executive Vice President and Chief Financial Officer and [Brett] Pence, our Senior Vice President of Operations. I’ll begin with a summary of our acquisition activity in 2011 and then review our results for the year and briefly discuss our year end reserves and operations. I’ll then turn the call over to Richard for the financial discussion and then we’ll open the line up for Q&A. 2011 was a very active and successful year for Vanguard in the acquisition front. Most notable was completing the merger of Vanguard and Encore Energy Partners. Real quickly, the first step of this transaction began in October of 2010 when we reached an agreement to acquire 100% of the general partner and a 46.7% limited partnership ownership position in Encore Energy Partners from Denbury Resources. We closed this first step on December 31, 2010.
The second step of this transaction was completed 11 months later on December 1 st of last year when both Vanguard and Encore unitholders approved the merger between the two companies. Under this merger agreement each Encore unitholder received .75 of Vanguard common unit for each Encore common unit that they owned.With this acquisition completed, we dramatically expanded our operating platform in both Williston and Big Horn basins and substantially increase our presence in the Permian basin. The Encore properties account for over 55% of our year end 2011 reserves and have helped us achieve our goal of becoming a much more liquids focused company. This acquisition also provide other significant benefits to the company. Along with increasing our liquids reserves the significant increase in size and scale allows us to better compete for acquisitions that in the past may have been too large for us to consider. In addition, with these additional operating areas there are now more bolt on opportunities that otherwise wouldn’t have been on our radar screen. Additionally, we’ve made significant technology and human capital investments in improvements that will allow us to continue on the growth path and to create new assets efficiently and effectively. The Encore acquisition truly transformed the company and has put us in a great position for future growth opportunities. Read the rest of this transcript for free on seekingalpha.com