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Acquisition of Wyoming Oil Properties – Memorial Production Partners Lp

Memorial Production Partners Lp · May 5, 2014 · 12 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. Acquisition of Wyoming Oil Properties – Memorial Production Partners Lp – slide 1
    Acquisition of Wyoming Oil Properties May 5, 2014
  2. Acquisition of Wyoming Oil Properties – Memorial Production Partners Lp – slide 2
    Transaction Overview Transaction Overview Asset Location Acquisition of two individual CO2 floods located in Wyoming for approximately 935 million Shallow decline rate and significant resource base with large OOIP and high potential…
  3. Acquisition of Wyoming Oil Properties – Memorial Production Partners Lp – slide 3
    Strategic Rationale Properties have a stable, long-lived production profile with an estimated average annual PDP decline rate of 5% over 5 years and 10 years Ideal MLP Modest maintenance capital requirements less than 20% of EBITDA…
  4. Acquisition of Wyoming Oil Properties – Memorial Production Partners Lp – slide 4
    Acquisition Strategy Drives Growth & Diversification Acquisitions Since IPO Proved Reserves (1) Net Production(1) Purchase Price (1) Date Transaction Structure Location (Bcfe) (MMcfe/d) (MM) May 14 Pending Third Party Acquisition…
  5. Acquisition of Wyoming Oil Properties – Memorial Production Partners Lp – slide 5
    Bairoil Asset Summary Asset Overview Asset Location Located in Sweetwater and Carbon Counties, Wyoming Represents 29% of MEMPs pro forma proved reserves Key fields: Lost Soldier and Wertz Properties discovered in the early…
  6. Acquisition of Wyoming Oil Properties – Memorial Production Partners Lp – slide 6
    MEMP Pro Forma Asset Overview Total Partnership (Pro Forma) Proved Reserves (Bcfe) 1,574 % Proved Developed 61% % Liquids Reserves 61% PF 4Q13 Production (MMcfe/d) 217.1 Total Proved Reserve Life (R/P) 19.9 Rockies Proved…
  7. Acquisition of Wyoming Oil Properties – Memorial Production Partners Lp – slide 7
    MEMP Hedging Overview: 2014 through 2019 MEMPs commodity risk management policy provides for hedging approximately 65-85% of estimated production from total proved reserves on a rolling three to six year period Policy reduces MEMPs…
  8. Acquisition of Wyoming Oil Properties – Memorial Production Partners Lp – slide 8
    Full Year 2014 Guidance Full Year 2014 Guidance Low High For Year Ending For Year Ending December 31, 2014 December 31, 2014 Annual Production (Bcfe) 74 76 Adjusted EBITDA (MM) (1) 355 375 Distributable Cash Flow (MM) (1)…
  9. Acquisition of Wyoming Oil Properties – Memorial Production Partners Lp – slide 9
    Appendix
  10. Acquisition of Wyoming Oil Properties – Memorial Production Partners Lp – slide 10
    Non-GAAP Measures Use of Non-GAAP Financial Measures. This presentation includes the non-GAAP financial measures of Adjusted EBITDA and Distributable Cash Flow. The accompanying schedules provide a reconciliation of these non-GAAP…
  11. Acquisition of Wyoming Oil Properties – Memorial Production Partners Lp – slide 11
    2014 Adjusted EBITDA & Distributable Cash Flow Guidance Reconciliation Low High For Year Ended For Year Ended (In millions) December 31, 2014 December 31, 2014 Calculation of Adjusted EBITDA: Net income 154 174 Interest expense 82…
  12. Acquisition of Wyoming Oil Properties – Memorial Production Partners Lp – slide 12

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