606 Million Acquisition of Oil & Gas Properties July 15, 2013
Transaction Overview Transaction Overview Asset Location Acquisition of multiple asset packages from MEMPs sponsor, Memorial Resource Development Rockies LLC, and affiliates of Natural Gas Partners for total Asset consideration of…
Strategic Rationale Properties have a stable, long-lived production profile with an estimated average Ideal MLP annual PDP decline rate of 10% Assets MEMP to operate 94% of the proved reserves and 74% of the 973 producing wells…
Permian Basin Asset Summary Asset Overview Asset Location Located in West Texas and New Mexico across 23 counties 22 counties in Texas and one county in New Mexico Represents 13% of MEMPs pro forma proved reserves Assets: Leases,…
East Texas Asset Summary Asset Overview Asset Location Majority of assets located in East Texas across 10 counties Nine counties in Texas and one county in Alabama (four wells with ORRI 0.03%) Represents 8% of MEMPs pro forma proved…
Rockies Asset Summary Asset Overview Asset Location Located in the Rockies across five counties Four counties in Wyoming and one county in Colorado Represents 6% of MEMPs pro forma proved reserves Assets: Leases, gathering system,…
MEMP Pro Forma Asset Overview Rockies Total Partnership 6% Est. Proved Reserves 58 Bcfe Est. Proved Reserves 1,046 Bcfe 5% Est. of Total Production 7.6 MMcfe/d Proved Developed 60% Reserve Life 20.9 Years Natural Gas 59% Average…
Evolution of MEMP Asset Base Since the December 2011 IPO, MEMP has completed six acquisitions for 643 million and recently announced its seventh and largest acquisition to date for approximately 606 million Today, MEMP is a…
Pro Forma Hedge Summary As part of this transaction, MEMP will acquire commodity hedges that cover approximately 72% of acquired PDP volumes through 2015 (82% through 2014) Consistent with its hedging policy, MEMP will layer on…
Updated 2013 Guidance Full Year 2013 Guidance Low High For Year Ending For Year Ending December 31, 2013 December 31, 2013 Annual Production (Bcfe) 46 48 Adjusted EBITDA (MM) 202 206 Distributable Cash Flow (MM) 129 133 DCF…
Appendix
Adjusted EBITDA & Distributable Cash Flow Guidance Reconciliation Low High For Year Ended For Year Ended (In millions) December 31, 2013 December 31, 2013 Calculation of Adjusted EBITDA: Net income 101 105 Interest expense 30 30…
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