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Overview of Crow Creek Acquisition – Eagle Rock Energy Partners Lp

Eagle Rock Energy Partners Lp · Apr 13, 2011 · 12 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. Overview of Crow Creek Acquisition – Eagle Rock Energy Partners Lp – slide 1
  2. Overview of Crow Creek Acquisition – Eagle Rock Energy Partners Lp – slide 2
    Crow Creek Acquisition Summary Transaction Acquisition of all equity interests of CC Energy II, L.L.C. (Crow Creek) for a total Summary consideration of 525 million 318 million for equity interests Assumption of 207 million of Crow…
  3. Overview of Crow Creek Acquisition – Eagle Rock Energy Partners Lp – slide 3
    Crow Creek Transaction Metrics Preliminary Allocation of Transaction Consideration ( in millions) Reserves in Place 453.2 327 operated wells; 1,040 non-op wells; 115,500 net acres Assumes 5,000 / acre valuation for non-producing…
  4. Overview of Crow Creek Acquisition – Eagle Rock Energy Partners Lp – slide 4
    Strategic Rationale Provides long-term accretion (driven by production growth) to distributable cash flow per unit Provides significant additional scale and geographic diversity to Eagle Rocks existing reserve base Total 3P reserves…
  5. Overview of Crow Creek Acquisition – Eagle Rock Energy Partners Lp – slide 5
    Crow Creek Asset Base Golden Trend 62 Op / 94 OBO Current Rate: 16.7 MMcfe/d Proved Reserves: 85 Bcfe Arkansas 36 PUDs Cana Shale Trend 52% of Proved Value No Op / 4 OBO Current Rate: 2.2 2 2 MMcfe/d Proved Reserves: 15…
  6. Overview of Crow Creek Acquisition – Eagle Rock Energy Partners Lp – slide 6
    Golden Trend Field Field is productive from multiple formations from 8,000 to 14,000 Active area with 5 Crow Creek wells drilled in the last 4 months Crow Creek has one operated drilling rig active in the field. It is projected…
  7. Overview of Crow Creek Acquisition – Eagle Rock Energy Partners Lp – slide 7
    Cana Shale Acreage and Activity Growing liquids-rich natural gas shale play in western Oklahoma 54 rigs currently drilling horizontal wells in the trend Shale Sh l characterized h t i db by d dry gas to the southwest and oil…
  8. Overview of Crow Creek Acquisition – Eagle Rock Energy Partners Lp – slide 8
    Pro Forma Eagle Rock Upstream Assets Crow C C Creek kA t (1): Assets Proved Reserves: 268 Bcfe Q4 2010 Prod. Rate: 40.0 MMcfe/d East Texas Area (2) % Gas (3): 72% Proved Reserves: 27 Bcfe Q4 2010 Prod. Rate: 7.6 MMcfe/d % Gas…
  9. Overview of Crow Creek Acquisition – Eagle Rock Energy Partners Lp – slide 9
    Pro Forma Proved Reserves Profile Eagle Rock (Status Quo) Crow Creek Pro Forma EROC PUD 11% PUD ory PUD 34% 27% Reserve Catego PDNP 13% PDP PDNP 60% 8% PDP (1) PDNP 65% PDP (1) 76% 6% 128 Bcfe 268 Bcfe 396…
  10. Overview of Crow Creek Acquisition – Eagle Rock Energy Partners Lp – slide 10
    Pro Forma Q4 2010 Production Summary Eagle Rock (Status Quo) (1) Permian 18% Pro Forma Q4 2010 Combined Cana Alabama East Texas 1% Barnett 53% 23% (1) 10% Alabama 24% South Arkoma 4Q10 Avg. Rate: Texas 2010 Exit Rate: 12%…
  11. Overview of Crow Creek Acquisition – Eagle Rock Energy Partners Lp – slide 11
    Acquisition Financing Strengthens Balance Sheet Balanced acquisition consideration preserves strong liquidity position and overall credit metrics 58% of transaction consideration is in the form of equity Transaction Consideration Mix…
  12. Overview of Crow Creek Acquisition – Eagle Rock Energy Partners Lp – slide 12
    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…

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