Eagle Rock Energy Partners, L.P. Partnership Overview and Recent Highlights
Eagle Rock Energy Partners, L.P. Today 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 U.S.…
Roadmap to Success Midstream Business: Building a Texas Panhandle Franchise BP Midstream Acquisition added significant scale and reach to existing midstream position in the core of the Granite Wash play and has accelerated Eagle Rocks…
Eagle Rock Value Proposition Upstream Yield with Significant Midstream Exposure Upstream MLPs 14.0% 12.5% 12.0% 11.3% 10.2% 10.5% 10.0% 10.0% 8.2% 8.5% Current 8.0% 8.2% Average: 9.3% 8.0% Distribution 6.4% Yield 6.0% 4.0%…
Eagle Rock Energy Partners, L.P. Midstream Business Overview
Midstream Business Morrow/Cleveland Tonkawa Granite Wash Hogshooter Panhandle (1)(2) 6,514 miles of pipeline 11 processing plants 211,500 compression HP Gathering Volume: 356 MMcf/d Equity NGL/Condensate: 5,795 Bbls/d…
Leading Franchise in Texas Panhandle 68 active rigs in counties in which EROC operates (8- 12 rigs on dedicated acreage) Over 550 wells permitted in area over past six months Roberts Initial interconnect completed May…
The Texas Panhandle Fairway: Stacked Pay Zones Industry Has Drilled More Than 2,600 Horizontal Wells to These Formations Source: Apache Corporation and Eagle Rock Energy research. Includes Hansford, Hemphill, Hutchinson, Lipscomb,…
Superior Economics Driving Production Growth 150% 100% 89% Single Well Returns (1) 80% 73% 72% 66% E&P Industry Average 60% 59% 60% WACC is 12% 53% 52% 50% 49% 40% 35% 30% 30% 28% 28% 27% 27% 26%…
BP Acquisition: Accelerating Growth Since the beginning of 2011, Eagle Rock has secured commitments for over 670,000 acres in the Texas Panhandle; with over 620,000 acres facilitated by expanded footprint following the BP Acquisition…
Shifting Midstream Contract Mix Reduced Commodity Exposure Through Increased Fee-Based Business Through the new or amended contracts with BP, Apache and Anadarko, the Partnership has taken significant steps in transitioning to a more…
Eagle Rock Marketing (ERM) Texas Panhandle Transloading / Rail Rack Projects Currently Granite Wash crude and condensate is trucked from Texas Panhandle region ERM has designed and built two transloaders near Pampa, Texas on major…
Eagle Rock Energy Partners, L.P. Upstream Business Overview
Geographically Diverse Upstream Assets Mid-Continent Assets Proved Reserves: 233 Bcfe Avg. Prod. Rate (1): 47.5 MMcfe/d % Gas (1): 64% Operated Wells: 235 Average Operated WI: 83% Permian Area Alabama/Miss. Area Proved…
Diversified Reserve Base Across High Quality Basins Reserve Profile PUD 350 Bcfe of proved reserves Oil 24% NGLs 22% at 12/31/12 22% 13-year reserve life (1) Over 600 (gross) identified Gas 56% drilling locations (2)…
Woodford Regional Overview Strat Column Oklahoma/Tx Panhandle System Series Formation Cret eroded Leonard Permian Brown Dolomite Wolfcamp CANA Douglas SS Virgilian Tonkawa SS Lansing Ls WOODFORD Missourian Cottage Grove…
Golden Trend and the Cana Woodford Trend Broad Development and Expansion Continues Across Eagle Rocks Acreage Position Eagle Rock Position* SE Cana 4.9 Legacy Cana Development Area: Interest MMcfe/d Cana 7.8 in 78 producing wells…
SCOOP Resource Potential Meaningful Position in Leading Resource Play Total Resources by Hydrocarbon (1) Through initial learning curve and seeing reductions in drilling times and costs Oil Expect ROR of 25%-30% at current NYMEX…
SCOOP: Southeast Canas Results Continue SCOOP EROC owns approximately 16,000 net acres in SCOOP 18 rigs currently drilling in Grady, EROC (76% WI) Garvin, McClain and Stephens Riddle 14-32H Currently drilling counties. 13 rigs…
Eagle Rock Energy Partners, L.P. Hedging Update
Robust Hedging Profile Includes Both Upstream and Midstream Hedgeable Volumes Crude, Condensate and NGLs (C2) (1) Ethane and Natural Gas (1) 100% 100% 80% 80% 60% 60% 40% 84% 85% 78% 40% 79% 59% 20% 20% 36%…
Diversified Gross Margin with Direct Product Hedges (1) Eagle Rocks Hedge Portfolio Consists of Direct Product Hedges and Proxy Hedges Total Eagle Rock 2013E Gross Margin, Broken Out by Product 2013E % Hedged, Broken Out by Product…
Eagle Rock Energy Partners, L.P. Appendix
Strategic Footprint in East Texas / Western Louisiana Operating at approximately 75% utilization of total operating capacity in East Texas Area Continue to see third party drilling targeting Horizontal Woodbine and Tuscaloosa Marine…
Wheeler Plant Construction De-Methanizer Area 27
Wheeler Plant Construction Compressor Area 28
Customer and Contract Overview Eagle Rock seeks to structure contracts to be Contract Mix (December 2012 Throughput) competitive and at the same time mitigate risk and Percentof maximize contract term Index Fixed As gas supply…
Adjusted EBITDA Reconciliation Adjusted EBITDA Reconciliation Three Months Ended Tw elve Months Ended March 31, Decem ber 31, 2013 2012 2012 2011 ( in thousands) ( in thousands) Net cash flows provided by operating activities…
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