Raymond James 34th Annual Investor Conference March 6, 2013
EVEP Overview Upstream MLP Created in September 2006 GP Ownership EnerVest & Management (76.25%) Encap (23.75%) 42.6 million outstanding units 3.1 billion enterprise value Current yield of 5.9% Solid returns since IPO Total…
Why EV Energy Partners Steady base business with diverse assets Proven long-term acquisition capabilities and track record Strong relationship with EnerVest Diverse Utica Shale upside Acreage, midstream and ORRIs 4
Diverse Asset Base Total Proved Reserves: 905 Bcfe Percent Developed: 76% Percent Gas: 67% Michigan 2012 Avg. Production: 163 MMcfe/d Proved Reserves: 24.4 Bcfe Reserve-Life Index: 15 years 2012 Production: 6.5 Mmcfe/d San Juan…
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 3.1 Tcfe of Proved Reserves…
Disciplined Acquirer Since Since Since 2007 2011 2007 Since 2011 Since 2007 Since 2011 (Since 1/1/2007) EVEP Upstream MLPs Number of Deals: 23 95 Total (b): 1.8 18.7 R/P Ratio: 21 18 Source: Wells Fargo Securities,…
Over Six Years of Growth and Diversification September 2006 (at IPO) December 31, 2012 Monroe 31% Appalachia 69% 51 Bcfe 2 Basins 905 Bcfe 8 Basins Note: Proved reserves of 1,097 Bcfe at Dec. 31, 2012 five year strip…
2013 Planned Upstream Capex 90 - 110 Million 9
Barnett Shale EVEP / EnerVest is a Top 6 Joint purchases with EnerVest Barnett Shale Producer Institutional Partnerships totaling over Reserves 2.2 billion since December 2010 Located primarily in core and combo areas 695 million…
Key Utica Highlights The sale of the approximately 100,000 net working interest acres being offered should enable us to use the proceeds to purchase assets on a tax-free, equity-free, debt-free basis. We will have over 70,000…
EVEP Utica Shale Currently Marketed Acreage County EVEP Net Acres CARROLL 10,900 GUERNSEY 4,600 HARRISON 1,700 MAHONING 4,400 MUSKINGUM 6,200 NOBLE 1,000 STARK 40,300 TRUMBULL 12,300 TUSCARAWAS 21,800 OTHER 500 Total…
Over 70,000 Additional Utica Acres OH Counties EVEP Net Acres ASHTABULA 22,000 CUYAHOGA 1,200 GEAUGA 1,900 LAWRENCE 7,600 PERRY 1,300 PORTAGE 3,600 SUMMIT 1,800 TUSCARAWAS 2,500 WASHINGTON 5,100 WAYNE 2,000 22 Counties <…
EVEP ORRI Acreage ORRI acreage is mostly in wet-gas and oil product windows ( 880,000 gross acres) Average 2.7% ORRI on 415,000 operated gross acres Average 1.3% ORRI on 465,000 non-operated gross acres Significant future cash…
Midstream Activity Ramping Up 2.6 BCF/d Mariner West proposed Deliver Ethane from SUNOCO to SARNIA NiSource/Hilcorp processing Design: 65 MBbl/d In Service: Mid 2013 Processing: 200 MMcf/d Residue: TETCO, REX, NiSource In…
Utica East Ohio Midstream Located in the heart of the prolific Utica rich gas window Gather, process and fractionate wet gas from CHK/EV/Total JV production 800 MMcf/d of processing & 135 MBbls/d of fractionation capacity Onsite…
Cardinal Gas Services Low-pressure gathering and compression of wet gas from JV production into Utica East Ohio infrastructure Ownership 66% Access Midstream Partners, Operator 25% Total 9% EVEP Build-out of system continues,…
Utica Midstream Capital and EBITDAX Capital investment of 335-395 million, net to EVEP, over 5 years Stable, long-term cash flow stream UEO has fee structure defined by contract Consists of fees for gathering, compression,…
Capital Structure ( millions) Bank Debt 12/31 360 Senior Notes Due 2019 500 Equity Market Capitalization 2,215 Enterprise Value 3,075 Note: Equity market capitalization based on unit price at March 1, 2013. 20
Disciplined Financing Strategy Since 2006, completed 1.9 billion of acquisitions, approximately 60% of which were financed with equity and free cash flow Capital Activity (1) Acquisition Financing Since IPO Equity 1,027 53% Free…
Commodity Hedging Hedges used to reduce the effects of commodity price volatility and support initial acquisition economics We are approximately hedged 88% for 2013, 69% for 2014 and 59% for 2015 Note: Percentage hedged based on…
2013 Guidance Full Year 2013 Net Production: Natural Gas (MMcf) 38,400 - 42,000 Crude Oil (MBbls) 1,040 - 1,150 Natural Gas Liquids (MBbls) 1,940 - 2,110 Total Mmcfe 56,280 - 61,560 Average Daily Production (Mmcfe/d) 154.2 -…
Why EV Energy Partners Steady base business with diverse assets Proven long-term acquisition capabilities and track record Strong relationship with EnerVest Diverse Utica Shale upside Acreage, midstream and ORRIs 26
Raymond James 34th Annual Investor Conference March 6, 2013
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