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Citi MLP Midstream Infrastructure Conference – EV Energy Partners Lp

EV Energy Partners Lp · Aug 22, 2012 · 20 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 Midstream Infrastructure Conference – EV Energy Partners Lp – slide 1
    Citi MLP/Midstream Infrastructure Conference August 2012
  2. Citi MLP Midstream Infrastructure Conference – EV Energy Partners Lp – slide 2
    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…
  3. Citi MLP Midstream Infrastructure Conference – EV Energy Partners Lp – slide 3
    EV Energy Partners, L.P. Upstream p MLP Created in September p 2006 (Nasdaq: EVEP) GP Ownership EnerVest & Management (76.25%) (76 25%) Encap (23.75%) 42.3 million outstanding units 3.1 3 1 billion billi enterprise t i…
  4. Citi MLP Midstream Infrastructure Conference – EV Energy Partners Lp – slide 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…
  5. Citi MLP Midstream Infrastructure Conference – EV Energy Partners Lp – slide 5
    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 4 Tcfe of Proved Reserves…
  6. Citi MLP Midstream Infrastructure Conference – EV Energy Partners Lp – slide 6
    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…
  7. Citi MLP Midstream Infrastructure Conference – EV Energy Partners Lp – slide 7
    Over Five Years of Growth and Diversification e s cat o September 2006 (at IPO) December 31, 2011 Monroe 31% Appalachia pp11% Appalachia 69% 51 Bcfe 2 Basins 1,144 Bcfe 8 Basins 8
  8. Citi MLP Midstream Infrastructure Conference – EV Energy Partners Lp – slide 8
    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…
  9. Citi MLP Midstream Infrastructure Conference – EV Energy Partners Lp – slide 9
    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…
  10. Citi MLP Midstream Infrastructure Conference – EV Energy Partners Lp – slide 10
    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…
  11. Citi MLP Midstream Infrastructure Conference – EV Energy Partners Lp – slide 11
    Recent Ohio Utica Shale Activity Overall Utica Activity 3 3 permitted 343 pe tted wells e s 149 spud wells (114 wells TD) 17 producing wells CHK Activity 243 permitted wells 103 wells drilled or drilling 57 with…
  12. Citi MLP Midstream Infrastructure Conference – EV Energy Partners Lp – slide 12
    EVEP Recent Well Results 24 Hour Rate Lateral Dissipation Length Period Gas Crude NGLs API (Feet) Stages (Days) (Mmcfd) (Mbbld) (Mbbld) BOEPD Degrees Frank 2H 6,780 24 103 1.2 360 312 870* 47 Cairns 5H 5,431 19 76 2.2 729 587…
  13. Citi MLP Midstream Infrastructure Conference – EV Energy Partners Lp – slide 13
    Midstream Activity Ramping Up MARINER WEST Deliver Ethane from SUNOCO to SARNIA SHELL Cracker 65 MBBL/d Proposed In Service: Mid 2013 NiSource Momentum/CHK/EVEP Processing: 200 MMcf/d Processing: 600 MMcf/d Residue: TETCO, REX,…
  14. Citi MLP Midstream Infrastructure Conference – EV Energy Partners Lp – slide 14
    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…
  15. Citi MLP Midstream Infrastructure Conference – EV Energy Partners Lp – slide 15
    Capital Structure ( millions) Bank Debt 6/30 / 240 Senior Notes Due 2019 500 Equity Market Capitalization 2,347 Enterprise Value 3,086 Note: Equity market capitalization based on unit price at Aug 17, 2012. Includes…
  16. Citi MLP Midstream Infrastructure Conference – EV Energy Partners Lp – slide 16
    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…
  17. Citi MLP Midstream Infrastructure Conference – EV Energy Partners Lp – slide 17
    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…
  18. Citi MLP Midstream Infrastructure Conference – EV Energy Partners Lp – slide 18
    Commodity Hedging: Oil Oil Volume Hedged (Bbl/d) Oil Prices Hedged (/Bbl) 19
  19. Citi MLP Midstream Infrastructure Conference – EV Energy Partners Lp – slide 19
    Commodity Hedging: NGLs Ethane Volume Hedged (Bbl/d) Propane Volume Hedged (Bbl/d) 20
  20. Citi MLP Midstream Infrastructure Conference – EV Energy Partners Lp – slide 20
    Citi MLP/Midstream Infrastructure Conference August 2012

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