LRR Energy is a publicly traded limited partnership focused on operating, acquiring, exploiting and developing producing oil and natural gas properties with long-lived, predictable production profiles. While we began operations in 2011 in connection with our IPO, our management team has been operating most of our assets for the past several years through predecessor entities managed by our affiliate, Lime Rock Resources.
We believe that we bring significant competitive strengths to help us realize our business objective.
Our properties are distributed across three regions, producing from multiple formations in over a dozen different fields.
Our operational control of most of our oil and natural gas reserves permits us to manage our operating costs and control capital expenditures and the timing of development activities.
Our general partner is an affiliate of Lime Rock Management, which manages both the Lime Rock Resources and Lime Rock Partners private equity funds. Our relationship with Lime Rock Management and the Lime Rock Resources team provides us with an experienced management team and an attractive position from which to acquire additional oil and natural gas properties in the future.
Our executive management team has an average of over 25 years of experience in the oil and natural gas industry. Since 2006, our management team has invested over $900 million in oil and natural gas property acquisitions in the United States.
We believe our relatively low level of indebtedness and financial flexibility to issue additional equity will enable us to be competitive in seeking to acquire oil and natural gas properties. We also believe that our active hedging program will reduce the impact of volatile oil and natural gas prices.