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Citigroup MLP 1x1 Conference – Natural Resource Partners L.P.

Natural Resource Partners L.P. · Aug 21, 2014 · 21 slides

Investor presentation from the Shale Experts oil & gas presentation and slide database. Every page is imaged and its text indexed for search across operators, plays, basins and time.

Slides

  1. Citigroup MLP 1x1 Conference – Natural Resource Partners L.P. – slide 1
    Citigroup MLP 1x1 Conference August 20-21, 2014 Las Vegas, NV
  2. Citigroup MLP 1x1 Conference – Natural Resource Partners L.P. – slide 2
    VantaCore Partners LP Acquisition 3
  3. Citigroup MLP 1x1 Conference – Natural Resource Partners L.P. – slide 3
    Acquisition Overview Purchase price 205 million Aggregate operations In Pennsylvania, West Virginia, Kentucky, Tennessee and Louisiana Will make NRP one of the 25 largest aggregate producers in the United States Expected to close…
  4. Citigroup MLP 1x1 Conference – Natural Resource Partners L.P. – slide 4
    VantaCore Partners Operations Laurel Aggregates Serves the energy and construction industries in southwestern PA, northern WV, and eastern OH. Reserves with close proximity to Marcellus and Utica Pittsburgh Direct sales from Lake…
  5. Citigroup MLP 1x1 Conference – Natural Resource Partners L.P. – slide 5
    Acquisition Provides Further Diversification & Growth Further diversification for NRP Top 25 producer Serves 3 different markets Platform for growth Organically within existing markets Acquisitions Seasoned management team…
  6. Citigroup MLP 1x1 Conference – Natural Resource Partners L.P. – slide 6
    Experienced Management & Employees to be Retained Colin Oerton - CEO Barry Fink VP/GM, Laurel Aggregates CFO, Sunoco Logistics Partners LP 7 years at Laurel Aggregates (NYSE:SXL), total revenue 6.5 billion Joined as President in 1997…
  7. Citigroup MLP 1x1 Conference – Natural Resource Partners L.P. – slide 7
    Financing for Transaction Purchase price 205 million Financed with 36mm in equity: Kayne Anderson and Hartz Capital are taking the entire portion of their sale proceeds in NRP equity, providing a solid endorsement to NRP and this…
  8. Citigroup MLP 1x1 Conference – Natural Resource Partners L.P. – slide 8
    NRP: A Diversified Resource Company 9
  9. Citigroup MLP 1x1 Conference – Natural Resource Partners L.P. – slide 9
    Business Overview Overview of NRP Revenues from NRPs Assets (2013) Own, manage and lease mineral properties across the U.S. 2.3 billion tons of coal reserves in three major coal producing basins 500 million tons of aggregate…
  10. Citigroup MLP 1x1 Conference – Natural Resource Partners L.P. – slide 10
    NRPs Diversified Revenue Stream Revenues have more than doubled since 2005 Revenues from sources other than coal related revenues Only 6% in 2005 32% in LTM 2Q2014 39% in 2Q2014 Also diversified within coal Reduced exposure to APP…
  11. Citigroup MLP 1x1 Conference – Natural Resource Partners L.P. – slide 11
    Goal Grow Distributions on a Sustainable Basis Strategy Comment 1 Continue to Diversify Further pursue both geographic as well as mineral diversification Business through VantaCore, soda ash, oil and gas, frac Accretive…
  12. Citigroup MLP 1x1 Conference – Natural Resource Partners L.P. – slide 12
    Financial Strategy leads to Improving Statistics 6/30/2014 - 373 million Liquidity Allows NRP to continue to focus on diversified acquisitions Limited direct exposure to operating costs including Industry- environmental, permitting…
  13. Citigroup MLP 1x1 Conference – Natural Resource Partners L.P. – slide 13
    Growing Investment in Aggregates / Industrial Minerals Business 500 million tons of aggregates in 13 states for NRP 15% of LTM 2Q2014 total revenues, but growing (will grow significantly with VantaCore) 52.8 million in revenues in the…
  14. Citigroup MLP 1x1 Conference – Natural Resource Partners L.P. – slide 14
    Diversification into Trona/Soda Ash Operations OCI Wyoming Overview U.S. Soda Ash Industry Dynamics OCI Wyoming produces trona and refines 2013 Consumers of Soda Ash into soda ash in Green River Basin of Flue Gas Distributors…
  15. Citigroup MLP 1x1 Conference – Natural Resource Partners L.P. – slide 15
    Oil and Gas Revenues Expected to Double in 2014 Oil and Gas Revenues from NRPs Assets Own, manage and lease oil and gas mineral properties in the U.S. Over 261,000 net leased oil, gas and CBM acres More than 1,300 producing wells…
  16. Citigroup MLP 1x1 Conference – Natural Resource Partners L.P. – slide 16
    Overview of NRPs Coal Business Diversified platform across the coal industry 5th largest owner of coal reserves in the U.S. 2.3 billion tons Strategically located in Appalachia, Illinois Basin, Western U.S., Gulf Coast Since 2005…
  17. Citigroup MLP 1x1 Conference – Natural Resource Partners L.P. – slide 17
    NRPs Illinois Basin Strategy NRPs ILB Strategy U.S. Thermal Coal Production Outlook Illinois Basin coal is well situated to increase market (millions of tons) 51% 199 share as Appalachia declines and export demand rises ILB 132…
  18. Citigroup MLP 1x1 Conference – Natural Resource Partners L.P. – slide 18
    Potential Upside From Existing Coal Assets NRP (in millions) 400 56 From 2011-2014 forecast NRP expects 350 54 coal related revenues to have decreased 300 52 by 120 mm 250 50 Much of decline has been attributable to 200 48…
  19. Citigroup MLP 1x1 Conference – Natural Resource Partners L.P. – slide 19
    NRP - Key Investment Considerations Large, diverse and strategically located natural resource base More than 11 million mineral acres Coal, trona, oil and gas, aggregates, frac sand and other industrial minerals Disciplined…
  20. Citigroup MLP 1x1 Conference – Natural Resource Partners L.P. – slide 20
    Appendix 21
  21. Citigroup MLP 1x1 Conference – Natural Resource Partners L.P. – slide 21
    EBITDA Reconciliation (in thousands) LTM 2Q2014 Net income 147,119 Interest expense 74,190 DD&A 63,201 Impairments 5,624 DD&A from OCI 18,737 EBITDA 308,871 Revenues 347,851 EBITDA Margin 89% This presentation contains a…

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