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 0.36 billion bank debt (12/31) 0.50 billion senior…
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…
2013 Planned Upstream Capex 90 - 110 Million 6
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 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…
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…
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…
UEO Kensington Plant Site November 2012 March 2013 15
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,…
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 18
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