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WELLS FARGO PIPELINE MLP AND ENERGY SYMPOSIUM – Atlas Resource Partners, L.P.

Atlas Resource Partners, L.P. · Dec 4, 2012 · 24 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. WELLS FARGO PIPELINE MLP AND ENERGY SYMPOSIUM – Atlas Resource Partners, L.P. – slide 1
    Wells Fargo Pipeline, MLP and Energy Symposium December 4, 2012 <
  2. WELLS FARGO PIPELINE MLP AND ENERGY SYMPOSIUM – Atlas Resource Partners, L.P. – slide 2
    ARP Profile Atlas Resource Partners (NYSE: ARP) Market Capitalization 1.1 billion (48.7 MM units outstanding)(1) Debt Outstanding 284 million (215 million Revolver outstanding on 410 million borrowing base) (2) Enterprise Value 1.4…
  3. WELLS FARGO PIPELINE MLP AND ENERGY SYMPOSIUM – Atlas Resource Partners, L.P. – slide 3
    Organizational Structure Atlas Energy L.P. (NYSE: ATLS) Public Unitholders 43% LP & 100% GP Interest 57% LP Interest NYSE: ARP 4 <
  4. WELLS FARGO PIPELINE MLP AND ENERGY SYMPOSIUM – Atlas Resource Partners, L.P. – slide 4
    ARP: Opportunity Overview Atlas Resource Partners (NYSE: ARP) E&P MLP with significant base of stable cash flow and identified growth opportunities in rich U.S. basins Stability Growth Experience Long-lived reserve base Accretive…
  5. WELLS FARGO PIPELINE MLP AND ENERGY SYMPOSIUM – Atlas Resource Partners, L.P. – slide 5
    Investment Highlights Long-lived reserves Maintain Low Risk Profile Strong hedging program through 2017 Fee-based income from partnerships Leader in oil & gas fundraising Enhance Value through Enhanced IRRs through partnership…
  6. WELLS FARGO PIPELINE MLP AND ENERGY SYMPOSIUM – Atlas Resource Partners, L.P. – slide 6
    Strong Initial Record of Accretive Growth ARPs acquisition activity has created substantial value, while maintaining financial discipline Current Pro March 2012 Forma(1) Increase in proved 425% 170 Bcfe 900 Bcfe reserves…
  7. WELLS FARGO PIPELINE MLP AND ENERGY SYMPOSIUM – Atlas Resource Partners, L.P. – slide 7
    2012 Transactions 2012 acquisitions combined to provide ARP with long-lived reserves at an average cost below 0.75/mcf Barnett production is 90% hedged for the initial 12 months of production, 80% for the following 24 months and 40%…
  8. WELLS FARGO PIPELINE MLP AND ENERGY SYMPOSIUM – Atlas Resource Partners, L.P. – slide 8
    DTE Acquisition Overview ARP acquires oil & gas assets in the Fort Worth Basin (TX) from DTE Gas Resources, LLC (DTE), the E&P subsidiary of DTE Energy Company (NYSE: DTE), for 255 million Asset Summary Over 88,000 net acres with 261…
  9. WELLS FARGO PIPELINE MLP AND ENERGY SYMPOSIUM – Atlas Resource Partners, L.P. – slide 9
    DTE Acquisition is complementary to ARPs existing Fort Worth Basin assets Approximately 88,000 net acres, primarily in Jack County, Texas 75,000 net acres in the Marble Falls prone areas 100% operated; 99% WI Close proximity to…
  10. WELLS FARGO PIPELINE MLP AND ENERGY SYMPOSIUM – Atlas Resource Partners, L.P. – slide 10
    ARPs completion techniques could substantially improve Marble Falls EURs Improvement in Marble Falls EURs Marble Falls completion methodology has evolved, yielding enhanced recovery 200% Marble Falls wells were originally increase…
  11. WELLS FARGO PIPELINE MLP AND ENERGY SYMPOSIUM – Atlas Resource Partners, L.P. – slide 11
    Barnett Shale position Muenster Arch Majority of the assets located in the Higher Condensate Atlas Op S Denton Core portion of the Barnett Shale and Oil Production Prologis Ingram 55 Mmcfe/d of current production Higher…
  12. WELLS FARGO PIPELINE MLP AND ENERGY SYMPOSIUM – Atlas Resource Partners, L.P. – slide 12
    Mississippi Lime Position 20,000 acres in the core of the Mississippi Lime play in northwestern OK Acreage is located in Alfalfa, Grant and Garfield counties; oil & liquids rich portion of the play ARP Position is primarily held…
  13. WELLS FARGO PIPELINE MLP AND ENERGY SYMPOSIUM – Atlas Resource Partners, L.P. – slide 13
    Utica Position 4,500 net acres in Harrison, Tuscarawas & Stark counties prospective for the Utica shale Initiated drilling of its first 5-well Utica pad site Stark in Harrison County County Office Existing land operations in…
  14. WELLS FARGO PIPELINE MLP AND ENERGY SYMPOSIUM – Atlas Resource Partners, L.P. – slide 14
    Marcellus Shale Position ARP has 3,000 net Marcellus acres in Lycoming County ARP has completed construction of three pad sites that will each accommodate multiple wells 25 potential Marcellus horizontal wells Atlas lease…
  15. WELLS FARGO PIPELINE MLP AND ENERGY SYMPOSIUM – Atlas Resource Partners, L.P. – slide 15
    Financial Overview <
  16. WELLS FARGO PIPELINE MLP AND ENERGY SYMPOSIUM – Atlas Resource Partners, L.P. – slide 16
    Partnership Management: Strong History of Growth Over 1.4B in 40 year history funds raised in of fundraising the past 5 years Partnership Management Business Over 50,000 Broker dealers individual selling programs investors…
  17. WELLS FARGO PIPELINE MLP AND ENERGY SYMPOSIUM – Atlas Resource Partners, L.P. – slide 17
    Syndication Business Model Value to Value to Drilling Partners Atlas Resource Substantial 1st year tax deduction Upfront fees from fundraising; 15% (94% of investment) against over costs paid by partners ordinary income Carried…
  18. WELLS FARGO PIPELINE MLP AND ENERGY SYMPOSIUM – Atlas Resource Partners, L.P. – slide 18
    Financial Overview Following the recent transactions, ARPs capital structure is still well-positioned to take advantage of future opportunities, while maintaining proper liquidity Capitalization September 30, 2012 Cash & Cash…
  19. WELLS FARGO PIPELINE MLP AND ENERGY SYMPOSIUM – Atlas Resource Partners, L.P. – slide 19
    Projected Distribution Growth ARP is projecting over 40% distribution growth in 2013 from its current distribution 50.0% Projected 2013 distribution growth 40.0% 30.0% 20.0% 10.0% 0.0% A B C D E F G H I J ARP…
  20. WELLS FARGO PIPELINE MLP AND ENERGY SYMPOSIUM – Atlas Resource Partners, L.P. – slide 20
    Strong Hedge Positions Natural Gas Significantly hedged future production, enhancing overall risk management: 25.0 4.50 Puts Barnett production is 90% hedged 5.54 Collars Volumes Hedged (Bcf) 20.0 4.32 for the initial 12…
  21. WELLS FARGO PIPELINE MLP AND ENERGY SYMPOSIUM – Atlas Resource Partners, L.P. – slide 21
    E&P MLP Peer Credit Comparison Reserves / Production (Years) Net Debt / Proved Reserves (/Mcfe) Net Debt / Proved Developed Reserves (/Mcfe) Net Debt / Average Daily Production (/Mcfepd) Note: Agencies will consider gross debt,…
  22. WELLS FARGO PIPELINE MLP AND ENERGY SYMPOSIUM – Atlas Resource Partners, L.P. – slide 22
    Reserve Summary 2012 acquisitions have increased ARPs proved reserves by more than four times and enhanced the long-lived nature of its asset base 1400 1,200 1200 1000 900 800 PUD/PDNP Bcfe 600 PDP 400 200 0 Net…
  23. WELLS FARGO PIPELINE MLP AND ENERGY SYMPOSIUM – Atlas Resource Partners, L.P. – slide 23
    Summary Proven business model for providing leading value to stakeholders Acquisition growth strategy in markets with significant opportunities Organic growth in high-returning regions Strong balance sheet with low leverage…
  24. WELLS FARGO PIPELINE MLP AND ENERGY SYMPOSIUM – Atlas Resource Partners, L.P. – slide 24
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