IPAA OGIS San Francisco October 1, 2013 Edward E. Cohen, Chief Executive Officer
Strong Record of Accretive Growth March 2012 Current Increase in proved 170 Bcfe 1.4 Tcfe 723% reserves Increase in net 35 Mcfe/d 252 Mcfe/d 622% production Actual growth in 0.40/unit 0.54/unit 35% annualized (1.60 (2.16…
Organizational Structure Atlas Energy, L.P. (NYSE:ATLS) Public Unitholders 37% LP & 100% GP Interest 63% LP Interest NYSE: ARP 4
ARP Profile Atlas Resource Partners (NYSE: ARP) Market Capitalization 1.25 billion (68.3 MM units outstanding)(1) 925 million (400 million Revolver outstanding on 835 million Debt Outstanding borrowing base + 525MM senior notes)…
Atlas: A Different Approach Rush in where others are fleeing Sell high, buy low Sold to Chevron at the top of the market Strong ARP Barnett position acquired at market bottom Sale of APL Elk City gathering & processing system for…
ARP Transactions Acquisitions typically financed with 50-70% equity, preserving conservative capital structures Date Seller Purchase Price Financing March 2012 187MM 65% Equity Recent ARP transactions May 2012 193MM 100%…
ARP Asset Overview ARP Asset Summary(1) 54% Increase in proved reserves 1.4 Tcfe proved reserves 81% gas 64% developed 252 Mmcfe/d production 89% Increase in net production 90% gas Pennsylvania/ W VA Marcellus Shale County…
ARP: Growth in Net Production 300 270 ARPs net production has Net Production per Day 240 grown over 6.5x since 210 March 2012 180 150 120 250 90 60 30 39 - March 2012 (IPO) Current Production Accretive acquisitions…
Diversified Geographic Presence and Lower-Risk Reserves The addition of sizable positions in the Raton and Black Warrior provide ARP with robust geographic coverage and lower-risk reserves Also opens up a broader opportunity set of…
Marble Falls Position Marble Falls Overview Acreage Drill Sites 88,500 Acres 700+ Drill Sites Highlights Acreage mainly in Jack, also in Clay, Palo Pinto, Marble and Erath Counties in Texas Falls Position Approximately 40% held…
Mississippi Lime Position Mississippi Lime Overview Energy Marketing Acreage Drill Sites Gas gathering and processing agreement with SemGas matures in 2017 20,000 Acres 100+ Drill Sites SemGas has existing infrastructure serving…
Marcellus Shale Position Marcellus Shale Overview Recent Activity Acreage Drill Sites Drilled, completed, and flowing 5 wells on the Lundy pad 3,000 Acres 15-20 Additional Drill Sites Total measured depths range from 11,272 13,955…
ARPs Utica Position with Competitor Activity 14
Barnett Shale Detail Majority of the assets located in the Core portion of the Barnett Shale 60 Mmcfe/d of current production 560 Bcfe of proved reserves(1) 93% gas, 7% NGLs & Oil(1) 94% of all Barnett Shale acreage is held by…
Partnership Management: Strong History of Growth Over 1.2B in 40 year history funds raised in of fundraising the past 5 years Partnership Management Business Over 50,000 Broker dealers individual selling programs in…
Fee-Based Partnership Business Model Value to Atlas Resource Partners Value to Drilling Partners Upfront fees from fundraising; 15% over Substantial 1st year tax deduction (90- costs paid by partners 100% of investment) against…
APPENDIX 18
Diversified Cash Flow Mix Production by Basin(1) Margin By Segment(1) Mississippi Lime/Hunton Other Partnership 3% County Line 3% Fee Income 2% 15% Barnett/Marble Falls Appalachia 34% 13% Black Warrior 15% Production…
EP Acquisition Overview Atlas Resource Partners, LP (ARP) acquired certain natural gas assets from EP Energy for 733 million This acquisition is transformative for ARP: Immediately accretive: transaction will increase future cash…
Acquired Asset Summary Expansive asset position with low decline Total ARP asset statistics (1) ATLS Arkoma asset statistics (1) 466 bcf proved reserves 45 Bcfe proved reserves 100% gas 100% gas 93% proved developed 100% proved…
Raton Detail(1) Direct mineral ownership of 605,000 net acres 94% Net Revenue Interest CO 100% operated NM Shallow base decline, low opex and Taos maintenance capex May 2013 monthly average production of Colfax 76…
Attractive Production Decline Profile ARPs stability of cash flows is significantly enhanced as a result of the EP acquisition The acquired assets have a decline profile of 8 10% ARPs pro forma decline profile will improve to 11%…
Black Warrior Detail(1) Stable production profile, low base Tennessee decline, long R/P, base optimization and future drilling opportunities Mississippi Alabama Georgia Lost Creek 82% operated White Oak Creek Walker Fayette…
County Line Detail(1) County Line WY 5,832 net acres (non- operated) in Johnson County, Wyoming 5 Mmcf/d production Johnson County, WY Atlas Acreage 25 (1) Based on internal reserve and production estimates prepared in…
Significantly Hedged Future Production Profile Natural Gas (1) Disciplined and comprehensive 70.0 4.22 - 5.12 hedge strategy enhances the 60.0 4.23 - Swaptions 5.13 Collars stability of ARPs future cash flow Volume Hedged…
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