IPAA Oil & Gas Investment Symposium September 24, 2012
Why EV Energy Partners Proven Track Record in Acquisitions Multiple Acquisition Sources EnerVest Provides Operating Leverage and Scale in M lti l B Multiple Basins i Diverse Set of Properties with Organic Growth Potential e o s…
EV Energy Partners, L.P. Upstream MLP Created in September Compound Annual Return 2006 (Nasdaq: EVEP) (Last Three Years) GP Ownership EnerVest & Management (76.25%) Encap (23.75%) (23 75%) 42.3 million outstanding units 3.4…
Diverse Asset Base Total Proved Reserves: 1,144 Bcfe Percent Developed: p 68% Percent Gas: 71% Michigan 2011 Avg. Production: 112.8 MMcfe/d Proved Reserves: 44.9 Bcfe Reserve-Life Index: 19 years 2011 Production: 6.7 Mmcfe/d Gross…
A Strong Strategic Partnership with EnerVest EnerVest is recognized as one of the largest and most successful managers of oil and gas assets for institutional investors Sizeable EnerVest operating base 3.8 Tcfe of Proved Reserves…
Benefits of the Partnership Drop-Down Drop Down Joint Industry From Bid With EnCap EnerVest EnerVest 7
Disciplined Acquirer Since 2007 Since Since 2011 2007 Since 2011 Since 2007 Since 2011 (Since 1/1/2007) EVEP Upstream MLPs Number of Deals: 23 86 Total ( (b): ) 1.8 16.8 R/P Ratio: 21 18 Note: 1/1/07 to…
Capital Structure ( millions) Bank Debt 6/30 / 240 Senior Notes Due 2019 500 Equity Market Capitalization 2,665 Enterprise Value 3,405 Note: Equity market capitalization based on unit price at September 19, 2012. Includes…
Disciplined Financing Strategy Since 2006, completed 1.8 billion of acquisitions, 61% of which were financed with equity q y and free cash flow Capital Activity (1) Acquisition Financing Since IPO Equity 1,027 56% Free Cash…
Commodity Hedging Hedges used to reduce the effects of commodity price volatility and support initial acquisition economics We are approximately hedged 92% for the remainder of 2012, 82% for 2013, 40% for 2014 and 28% for 2015…
2012 Organic Growth Activity Appalachian Basin: Ongoing CHK JV activity I iti l E Initial EnerVest V t Uti Utica D Drilling illi Potential Utica Monetization/Swap Ongoing Knox Activity Mid Continent: Continuing Granite…
Resource Plays Creating Opportunities pp for MLPs Private Equity Private Equity Source: RBC Richardson Barr
Diversification, Growth and Resource esou ce Playay Entry t y September 2006 (at IPO) December 31, 2011 Monroe 31% Appalachia pp11% Appalachia 69% 51 Bcfe 2 Basins 1,144 Bcfe 8 Basins 14
Barnett Shale EVEP / EnerVest is a Top 6 Joint purchases with EnerVest Barnett Shale Producer Institutional Partnerships totaling g over 2.2 billion since December 2010 Reserves 695 million net to EVEP Located primarily in core…
EVEP Utica Shale Position EnerVest entities control 1.2 million Legend EVEP JV Acreage gross acres EVEP Non-JV Acreage EnerVest Fund Acreage 700,000 net acres 60% operated by EnerVest EVEP net Utica leasehold 150,000 net WI…
Recent Ohio Utica Shale Activity Overall Utica Activity 3 5 pe 375 permitted tted wells e s 171 spud wells (128 wells TD) 32 producing wells CHK Activity 258 permitted wells 114 wells drilled or drilling 58 with…
EVEP Recent Well Results 24 Hour Rate Lateral Dissipation Length Period Gas Crude NGLs API (Feet) Stages (Days) (Mmcfd) (Bopd) (Bopd) BOEPD Degrees Frank 2H 6,780 24 103 1.2 360 312 870* 47 Cairns 5H 5,431 19 76 2.2 729 587 1,690…
Midstream Activity Ramping Up MARINER WEST Deliver Ethane from SUNOCO to SARNIA SHELL Cracker 65 MBBL/d Proposed In Service: Mid 2013 NiSource Momentum/ACMP/EVEP Processing: 200 MMcf/d Processing: 600 MMcf/d Residue: TETCO, REX,…
2012 Utica Plans Continue de-risking the play Pad drilling commenced Average cost/well has dropped 33% Oil window now producing Initiated process for monetization of all or part of Utica Shale working interest position Retained…
Historical U.S. Asset Supply: 1990 to 2012 YTD 65.0 59.0 60 0 60.0 55.0 54.0 50.0 sactions ( Billiions) 45 0 45.0 44.5 44.2 40.0 EVEP IPO 35.0 7 Mos 30.0 EnerVest Formed 32.7 A&D Asset Trans 28.7 25.0 23.6…
Why EV Energy Partners Proven Track Record in Acquisitions Multiple Acquisition Sources EnerVest Provides Operating Leverage and Scale in M lti l B Multiple Basins i Diverse Set of Properties with Organic Growth Potential e o s…
IPAA Oil & Gas Investment Symposium September 24, 2012
Commodity Hedging: Natural Gas Gas Volume Hedged (MMbtu/d) Gas Prices Hedged (/MMbtu) Note: Estimated NYMEX Henry Hub equivalent with basis differentials of: Dominion Appalachia 0.18, MichCon Citygate 0.27, Houston Ship Channel…
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