Vanguard Natural Resources, Inc. Reports Unaudited Earnings and Production Results for the First Quarter Ended March 31, 2018; Reports Impairment of Oil and Natural Gas Properties for the First Quarter Ended March 31, 2018; Provides Production Guidance for the Year 2018
For the quarter, Oil, natural gas and natural gas liquids sales was $123,275 against $118,756 reported a year ago. Production was 367,568 Mcfe/day against 384,870 Mcfe/day reported a year ago.
For the quarter, the company recorded impairment of oil and natural gas properties of $14,601,000.
For the year 2018, production is now estimated to be in the range of 360 MMcfe per day to 370 MMcfe per day and 360 MMcfe per day to 380 MMcfe per day for the second quarter and full year of 2018, respectively.