Profile: LRR Energy LP (LRE.N)

LRE.N on New York Stock Exchange

7.91USD
4:02pm EDT
Change (% chg)

$-0.03 (-0.38%)
Prev Close
$7.94
Open
$7.97
Day's High
$8.08
Day's Low
$7.91
Volume
29,677
Avg. Vol
44,029
52-wk High
$20.11
52-wk Low
$5.63

Search Stocks

LRR Energy, L.P (LRR Energy), incorporated on April 28, 2011, is a limited partnership formed by affiliates of Lime Rock Resources to operate, acquire, exploit and develop producing oil and natural gas properties in North America. The Company’s properties are located in the Permian Basin region in West Texas and southeast New Mexico, the Mid-Continent region in Oklahoma and East Texas and the Gulf Coast region in Texas. As of December 31, 2013, the Company’s total estimated proved reserves were approximately 30.1 million barrels of oil equivalent (MMBoe), of which approximately 84% were proved developed reserves.

The Company’s general partner, LRE GP, LLC, is controlled by Lime Rock Management LP. The Company’s general partner has sole responsibility for conducting its business and for managing its operations. The Company’s properties consist of mature, low-risk onshore oil and natural gas reservoirs with long-lived, predictable production profiles located across three diverse producing regions: the Permian basin region in west Texas and southeast new Mexico, the Mid-Continent region in Oklahoma and east Texas, and the gulf coast region in Texas.

The Permian Basin Region

Approximately 55% of the Company’s estimated proved reserves as of December 31, 2013 and 53% of its average daily net production for the year ended December 31, 2013 were located in the Permian Basin region. The Red Lake field accounted for 34% of its average daily net production for the year ended December 31, 2013. Approximately 68% of its estimated net proved reserves in the Permian Basin region are oil and natural gas liquids (NGLs). The Permian Basin is oil and natural gas producing basins in the United States, extending over 100,000 square miles in west Texas and southeast new Mexico. The Company owns an 80% average working interest across 662 gross (533 net) wells and operates 94% of its proved reserves in the Permian Basin. The Company’s estimated proved reserves for its Permian Basin properties as of December 31, 2013 totaled 16.5 MMBoe and had a standardized measure of $263.8 million, which represented 67% of the total standardized measure for all of its estimated proved reserves.

The Mid-Continent Region

Approximately 35% of the Company’s estimated proved reserves as of December 31, 2013 and 35% of its average daily net production for the year ended December 31, 2013 were located in the Mid-Continent region. The Potato Hills field accounted for 20% of its average daily net production for the year ended December 31, 2013. Approximately 77% of its estimated net proved reserves in the Mid-Continent region are natural gas. The Company owns a 32% average working interest across 468 gross (152 net) wells and operates 67% of its proved reserves in the Mid-Continent region. Its estimated proved reserves for its Mid-Continent region properties as of December 31, 2013 were 10.6 MMBoe.

The Gulf Coast Region

Approximately 10% of the Company’s estimated proved reserves as of December 31, 2013 and 12% of its average daily net production for the year ended December 31, 2013 were located in the Gulf Coast region. Approximately 33% of its estimated net proved reserves in the Gulf Coast region are oil and NGLs. The Company owns a 70% average working interest across 49 gross (34 net) wells and operates 90% of its proved reserves in the Gulf Coast region. Its estimated proved reserves as of December 31, 2013 totaled 3.0 MMBoe and had a standardized measure of $28.3 million as of December 31, 2013, which represented 7% of the total standardized measure for all of its estimated proved reserves.

Company Address

LRR Energy LP

1111 Bagby St
HOUSTON   TX   77002-2551
P: +1713.2929510
F: +1302.6555049

Company Web Links

Search Stocks