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Citi MLP Conference – Eagle Rock Energy Partners Lp

Eagle Rock Energy Partners Lp · Aug 10, 2011 · 41 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. Citi MLP Conference – Eagle Rock Energy Partners Lp – slide 1
  2. Citi MLP Conference – Eagle Rock Energy Partners Lp – slide 2
    Management Representatives Joseph A. Mills Jeffrey P. Wood Chairman & Senior Vice President & Chief Executive Officer Chief Financial Officer L. Patrick Giroir Joseph E. Schimelpfening Senior Vice President, Senior Vice…
  3. Citi MLP Conference – Eagle Rock Energy Partners Lp – slide 3
    Eagle Rock Energy Partners, L.P. Snapshot Eagle Rock (NASDAQ: EROC) is a growth-oriented MLP engaged in the midstream and upstream businesses and is well-positioned to benefit from some of the most prolific producing basins in the…
  4. Citi MLP Conference – Eagle Rock Energy Partners Lp – slide 4
    Strategically Located, Diversified Asset Base Midstream Business (1) Upstream Business (2) 5,482 miles of pipeline 600 operated producing wells 19 processing plants 385 Bcfe proved reserves 488 MMcf/d gathering volumes 82.8…
  5. Citi MLP Conference – Eagle Rock Energy Partners Lp – slide 5
    Eagle Rock Energy Partners, L.P. Recent Developments Investor Presentation August 2011
  6. Citi MLP Conference – Eagle Rock Energy Partners Lp – slide 6
    May 3, 2011: Closed Crow Creek Acquisition Transaction Overview Acquisition of all equity interests of CC Energy II L.L.C (Crow Creek) for a total purchase price of 563.7 million 60% of purchase price in form of equity to sellers…
  7. Citi MLP Conference – Eagle Rock Energy Partners Lp – slide 7
    Mid-Continent Asset Base Golden Trend 64 Op O / 94 OBO Q2 11 Avg. Rate: 17.0 MMcfe/d Proved Reserves: 85 Bcfe Arkansas 36 PUDs Cana Shale Trend 52% of Proved Value 1 Op / 27 OBO Q2 2011 Avg Avg. Rate: 3.5 3 5 MMcfe/d…
  8. Citi MLP Conference – Eagle Rock Energy Partners Lp – slide 8
    Building on Our Core Position Delivering for Our Producer Customers Announced 30 MMcf/d Hemphill County Processing Expansion Date Expansion Capacity Oct 10 Acquisition of CEFS System NA C Canadian di Dec 10 Installation of Phoenix-…
  9. Citi MLP Conference – Eagle Rock Energy Partners Lp – slide 9
    Positioning for Further Growth Eagle Rock Has Substantially Improved Its Liquidity and Balance Sheet Stability (1) June 30, 2009 June 30, 2010 June 30, 2011 Enterprise Value: 1 1.1 1 billion Enterprise Value: 1 1.0 0 billion…
  10. Citi MLP Conference – Eagle Rock Energy Partners Lp – slide 10
    Returning Value to Our Unitholders Improved Growth Profile and Capitalization Lead to Greater Unitholder Value Current Annualized Distribution Guidance ** 1.00 1.00 33% alized Distribution per Unit 25% 0.75 0 75 0.75 0.60…
  11. Citi MLP Conference – Eagle Rock Energy Partners Lp – slide 11
    Robust Hedging Profile Crude, Condensate and NGLs (C2) (1) Ethane and Natural Gas (1) 100% 100% 5.96 5.68 75.23 80% 80% 81.75 97.60 5.22 60% 60% 99% 88% 40% 79% 40% 71% 68% 68% 5.55 102.45 20% 20% 22% 25% 0% 0%…
  12. Citi MLP Conference – Eagle Rock Energy Partners Lp – slide 12
    Midstream Business Overview
  13. Citi MLP Conference – Eagle Rock Energy Partners Lp – slide 13
    Geographically Diverse Midstream Business East Texas / North Louisiana 1,213 miles of pipeline Granite Wash 7 processing plants 49 700 compression HP 49,700 192 MMcf/d gathering volume 1,169 Bbls/d NGL/condensate Panhandle…
  14. Citi MLP Conference – Eagle Rock Energy Partners Lp – slide 14
    Midstream: Panhandle System Announced planned installation of 60 MMcf/d cryogenic processing facility (the Woodall Plant) West Panhandle: East Panhandle: Liquids-rich production from Brown Dolomite formation Liquids-rich…
  15. Citi MLP Conference – Eagle Rock Energy Partners Lp – slide 15
    East Panhandle: Rich in Growth Opportunities Roberts Horizontal Activity 13 Permitted Hemphill Horizontal Activity System Activity 161 Producing 33 Permitted 15 Rigs Running 220 Producing 132 directional / horizontal rigs 44 Rigs…
  16. Citi MLP Conference – Eagle Rock Energy Partners Lp – slide 16
    Strategic Footprint in East Texas System Activity Austin Chalk: Large independents staking g 14 p potential dedicated sites Drilling moving east into Louisiana with Austin Chalk and Indigo Minerals Bentley prospective Lumber…
  17. Citi MLP Conference – Eagle Rock Energy Partners Lp – slide 17
    Upstream Business Overview
  18. Citi MLP Conference – Eagle Rock Energy Partners Lp – slide 18
    Geographically Diverse Upstream Assets Mid-Continent Assets (1) Proved Reserves: 257 Bcfe Q2 2011 Prod. Rate (2): 46.8 MMcfe/d % Gas (3): 81% Alabama Area Proved Reserves: 65 Bcfe Permian Area Q2 2011 Prod. Rate: 19.8 MMcfe/d…
  19. Citi MLP Conference – Eagle Rock Energy Partners Lp – slide 19
    Crow Creek Adds Scale and Diversity to Reserve Base Eagle Rock (Legacy Assets) Crow Creek Current Eagle Rock PUD 11% PUD PUD ory 34% 26% Reserve Catego PDNP 13% PDP PDNP 60% 9% PDP (1) PDNP 65% PDP (1) 6% 76%…
  20. Citi MLP Conference – Eagle Rock Energy Partners Lp – slide 20
    Diversified Production Base Across High Quality Basins Eagle Rock (Pre-Crow Creek) PF Q2 2011 Combined (1) Cana 4% Permian Barnett 16% Alabama 11% 24% Arkoma A k South 10% East Texas Texas Alabama 25% 2% Anadarko 55% 6%…
  21. Citi MLP Conference – Eagle Rock Energy Partners Lp – slide 21
    Golden Trend Recent Activity Proved Reserves 85 Bcfe (57% PDP) McElvaney 2-23 52% of Crow Creek Drilling proved value 2Q average production rate 7.6 MMcfd, 673 Bopd, 891 Blpd Scott 1-17 IP 290 BO 1100 MCF Field is productive…
  22. Citi MLP Conference – Eagle Rock Energy Partners Lp – slide 22
    Cana Shale Play Drilling Activity 54 rigs currently drilling horizontal wells in the trend in western Oklahoma Shale characterized by dry gas to the southwest and oil to the northeast Cana Shale net leasehold totals 13,100 acres…
  23. Citi MLP Conference – Eagle Rock Energy Partners Lp – slide 23
    Robust Drilling Economics Exposure to liquids rich plays greatly enhances drilling economics in low gas price environment Early development of Cana Shale shows a range of EURs, with attractive drilling economics in liquids rich…
  24. Citi MLP Conference – Eagle Rock Energy Partners Lp – slide 24
    Drilling Assumptions / Well Type Curves Golden Trend Type Curve Cana Shale Type Curve Golden Trend Drilling Assumptions Cana Shale Drilling Assumptions 3.0 million completed well cost 8.6 million completed well cost EUR of 11.11…
  25. Citi MLP Conference – Eagle Rock Energy Partners Lp – slide 25
    Woodford Shale Potential Room to Run 26 Eagle Rock acreage
  26. Citi MLP Conference – Eagle Rock Energy Partners Lp – slide 26
    Focus on Low Cost Operations Upstream Historical and Projected Operating Costs (1) 40 2.40 Crow Creek Legacy Assets 35 Unit OPEX 2.10 Unit OPEX (/M Total OPEX (MM) 30 1.80 25 1.50 20 1.20 Mcfe) 15 0.90 10…
  27. Citi MLP Conference – Eagle Rock Energy Partners Lp – slide 27
    Upstream Organic Growth Production Growth Driven by Lower-Risk Drilling Inventory Eagle Rock Identified Locations PUD PROB Cana Shale 21 413 Golden Trend 36 2 Anadarko 42 21 120 Arkoma 46 11 180 Barnett Shale 4 9 Cana Verden 33…
  28. Citi MLP Conference – Eagle Rock Energy Partners Lp – slide 28
    Eagle Rock is Well-Positioned for Continued Growth Strong credit profile and capital availability Absence of incentive distribution rights enhances long-term accretion potential Core midstream operations in liquids-rich areas…
  29. Citi MLP Conference – Eagle Rock Energy Partners Lp – slide 29
    Eagle Rock Energy Partners, L.P. Appendix Investor Presentation August 2011
  30. Citi MLP Conference – Eagle Rock Energy Partners Lp – slide 30
    Midstream: Panhandle System System Overview Map of Texas Panhandle System (1) Miles of Pipeline: 3,963 Processing Plants: 7 Compression p HP: 141,000 , 2Q11 Avg. Gathering Volume: 154 MMcf/d 2Q11 Avg. Equity NGL / Condensate…
  31. Citi MLP Conference – Eagle Rock Energy Partners Lp – slide 31
    Midstream: East Texas System System Overview Map of East Texas System Miles of Pipeline: 1,213 Processing Plants: 7 Compression p HP: 49,700 2Q11 Avg. Gathering Volume: 192 MMcf/d 2Q11 Avg. Equity NGL / Condensate Volume: 1.2…
  32. Citi MLP Conference – Eagle Rock Energy Partners Lp – slide 32
    Midstream: South Texas System System Overview Map of South Texas System Miles of Pipeline: 266 Processing JT Skids: 3 Compression HP: 15,300 Q2 2011 Operating Income (1): 0.3 million Q2 2011 Capex: 0.02 million Contract Mix by…
  33. Citi MLP Conference – Eagle Rock Energy Partners Lp – slide 33
    Midstream: Gulf of Mexico System System Overview Gulf of Mexico System Miles of Pipeline: 40 Processing Plants: 2 (non-operated) Compression p HP: 14,180 Q2 2011 Operating Income (1): 1.3 million Q2 2011 Capex: 0.0 million…
  34. Citi MLP Conference – Eagle Rock Energy Partners Lp – slide 34
    Mid-Continent: Upstream Asset Asset Overview Mid-Continent Properties Acquisition Date: May 3, 2011 Oklahoma Counties: Dewey, Blaine, Canadian, Caddo, Grady Love Grady, Love, Marshall Coal, Pittsburg, Latimer Texas Counties…
  35. Citi MLP Conference – Eagle Rock Energy Partners Lp – slide 35
    Alabama: Upstream Asset Asset Overview Alabama Properties Acquisition Date: July 31, 2007 Alabama Counties: Escambia, Choctaw Operated Producing Wells: 29 Non Op Wells: Non-Op 2 Net Acreage: 13,000 Net Reserves: 10.9 MMboe…
  36. Citi MLP Conference – Eagle Rock Energy Partners Lp – slide 36
    East Texas Smackover Trend Assets Asset Overview East Texas Properties Acquisition Date: July 31, 2007 Texas Counties: Wood, Rains, Van Zandt, Henderson Operating Producing Wells: 34 Non-Op Producing Wells: 123 (ETX/LA) Net…
  37. Citi MLP Conference – Eagle Rock Energy Partners Lp – slide 37
    Permian Basin Assets Asset Overview Permian Basin Properties Acquisition Date: April 30, 2008 Texas Counties: Ward, Crane, Pecos Operated Producing Wells: 186 N O Producing Non-Op P d i W Wells: ll 21 Net Acreage: 24,000 Net…
  38. Citi MLP Conference – Eagle Rock Energy Partners Lp – slide 38
    South Texas Upstream Assets Asset Overview South Texas Properties Acquisition Date: July 31, 2007 Texas Counties: Atascosa Operating Producing Wells: 11 Net Acreage: 1 400 1,400 Net Reserves: 1.1 MMboe (6.6 Bcfe) Average Operated…
  39. Citi MLP Conference – Eagle Rock Energy Partners Lp – slide 39
    SEC Reserve Disclosures The SEC permits oil and gas companies, in their filings with the SEC, to disclose only reserves as defined by SEC rules. Estimates of reserves in this communication are based on economic assumptions with regard to…
  40. Citi MLP Conference – Eagle Rock Energy Partners Lp – slide 40
    Use of Non-GAAP Financial Measures (Continued) Eagle Rocks Adjusted EBITDA definition may not be comparable to Adjusted EBITDA or similarly titled measures of other entities, as other entities may not calculate Adjusted EBITDA in the same…
  41. Citi MLP Conference – Eagle Rock Energy Partners Lp – slide 41
    Adjusted EBITDA Reconciliation Adjusted EBITDA Reconciliation Three Months Ended Six Months Ended June 30, June 30, 2011 2010 2011 2010 ( in thousands) ( in thousands) Net cash flows provided by operating activities 6,059 25,269…

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