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…
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 476 MMcf/d gathering volumes 81.1…
Strategic Focus Leverage inventory of projects across dual platform to drive growth organically Target 20%+ rate of return on midstream infrastructure projects and upstream drilling Remain selective in pursuing acquisitions Continue…
Delivering on Our Balance Sheet Objectives Objective Status 1. Reduce Leverage Ratio to Total Debt / Adjusted EBITDA at Below 3.5x September 30, 2011 of 3.2x 2. Pre-or Concurrently Fund Crow Creek acquisition funded 60% with Equity…
Seeing Results Eagle Rock Has Substantially Improved Its Liquidity and Balance Sheet Stability (1) September 30, 2009 September 30, 2010 September 30, 2011 Enterprise Value: 1.1 billion Enterprise Value: 1.1 billion Enterprise…
Delivering Value to Our Unitholders Improved Growth Profile and Capitalization Lead to Greater Unitholder Value Current Annualized Distribution Guidance ** 25% Annualized Distribution per Unit ** Management's distribution…
Eagle Rock Energy Partners, L.P. Midstream Business Overview Citi North American Credit Conference November 2011
Geographically Diverse Midstream Business East Texas / North Louisiana 1,213 miles of pipeline Granite Wash 7 processing plants 49,700 compression HP 174 MMcf/d gathering volume 1,081 Bbls/d NGL/condensate Panhandle 3,963 miles…
Panhandle System Announced planned installation of 60 MMcf/d cryogenic processing facility (the Woodall Plant) operational by Q1 2012 Wheeler Plant Announced planned installation of 125 MMcf/d cryogenic processing…
Leading Midstream Company in the Granite Wash Superior Economics Driving Production Growth Stacked Pay Zones Improve Economics Granite Wash Daily Production (1) Other(s) Unit Corporation Penn Virginia Cimarex Energy Linn Energy…
The Granite Wash Fairway Eagle Rock is Well-Positioned to Serve Growing Production Volumes Tight sands formation with up to 3,000 feet of pay through multiple zones 132 directional / horizontal rigs running in Roberts, Hemphill…
Building on Our Core; Delivering for Our Customers Hemphill County Recent Activity 1 1 Oct. 10 Acquired Gathering Systems from CEFS Canadian Dec. 10 Installed Phoenix-Arrington 2 Red Ranch Plant (50 MMcf/d) Deer Oct. 11…
Strategic Footprint in East Texas System Activity Austin Chalk: Large independents staking 14 potential dedicated sites Drilling moving east into Louisiana with Austin Chalk and Indigo Minerals Bentley prospective Lumber 34H 1…
Eagle Rock Energy Partners, L.P. Upstream Business Overview Citi North American Credit Conference November 2011
Geographically Diverse Upstream Assets Mid-Continent Assets (1) Proved Reserves: 257 Bcfe Q3 2011 Prod. Rate: 47.5 MMcfe/d % Gas (2): 73% Alabama Area Proved Reserves: 65 Bcfe Permian Area Q3 2011 Prod. Rate: 16.4 MMcfe/d…
Diversified Reserve Base Across High Quality Basins Third quarter 2011 average Production production rate of 81.1 MMcfe/d Cana 5% Production growth anticipated Alabama Barnett from liquids-rich Cana Shale 20% 10% and Golden…
Golden Trend Play Liquids-rich field producing from multiple pay formations from 8,000 Hart Sandstone to 14,000 including Bromide, Big 4, Springer, Morrow, Hart, Deese Springer Sandstone McElvaney 2-23 IP: 780 Mcfd, 265 Bopd…
Cana Shale Play Drilling Activity 47 rigs currently drilling horizontal wells in the western Oklahoma Woodford Cana shale trend Shale characterized by dry gas to the southwest and oil to the northeast 296 Cana wells on…
Woodford Shale -- Potential Room to Run Arkoma Basin Verden Field Cana Shale Golden Trend Field Ardmore Basin 22 Eagle Rock acreage
Upstream Growth Production Growth Driven Organically by Lower-Risk Drilling Inventory Eagle Rock Identified Locations PUD PROB Cana Shale 21 413 Golden Trend 36 2 Anadarko 42 21 Arkoma 46 11 120 Barnett Shale 4 9 180 Cana Verden…
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…
Eagle Rock Energy Partners, L.P. Appendix Citi North American Credit Conference November 2011
Eagle Rock Trading History Current 1 Week Ago 1 Month Ago 2 Months Ago YTW YTW (bps) YTW (bps) YTW (bps) 8.375% Sr. Notes due 2019 8.14% 8.25% (11) 9.37% (123) 8.62% (48) Midstream Index 7.35% 7.39% (4) 8.34% (99) 7.89% (53)…
Focus on Low Cost Operations Upstream Historical and Projected Operating Costs (1) 40 2.40 Mid Continent Legacy Assets 35 11.7 2.10 Unit OPEX 30 1.80 Unit OPEX (/Mcfe) Total OPEX (MM) 5.5 25 1.50 24.5 24.8 23.2 20…
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…
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 1.1…
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…
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…
Adjusted EBITDA Reconciliation Adjusted EBITDA Reconciliation Three Months Ended Nine Months Ended Septem ber 30, Septem ber 30, 2011 2010 2011 2010 ( in thousands) ( in thousands) Net cash flows provided by operating activities…
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