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.…
Partnership Highlights Building a Texas Panhandle Franchise BP Acquisition adds significant scale and reach to existing position in the core of the Granite Wash play; also strengthens position in the growing Cleveland, Tonkawa and…
Capital Markets Robust Markets Support Eagle Rocks Growth Plans Single tranche of 8.375% senior notes totaling 550 million issued in May 2011 with add-on in July 2012 has traded EROC Stock Price Performance well in the aftermarket…
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: 372 MMcf/d Equity NGL/Condensate: 7,796 Bbls/d…
Expanding Our Strategic Partnerships (1) In conjunction with the Texas Panhandle Acquisition, Eagle Rock became the exclusive gathering and processing partner for BP and its farmees natural gas production around the acquired BP…
Shifting 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 fee-based…
Leading Franchise in Texas Panhandle 60 active rigs in counties in which EROC operates (8- 12 rigs on dedicated acreage) Over 400 wells permitted in area over past six months Roberts 6,500 miles of gathering lines in…
Strengthening the Core BP Acquisition Positions Eagle Rock for Continued Growth in Liquids-Rich Area The acquisition of BPs Texas Panhandle midstream system adds substantial scale and reach to Eagle Rocks existing position in the…
The Texas Panhandle Fairway: Serving Multiple Prolific Formations Eagle Rock is Well-Positioned to Serve Growing Production Volumes Stacked Pay Zones Improve Economics Roberts (2013) Combined system will have…
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 160% Projected Granite Wash Daily Production (1) 149% 140% Other(s) Unit Corporation Penn Virginia Cimarex Energy 120% Single Well Returns (2) Linn Energy QEP Resources…
Strategic Partnership with BP Eagle Rock becomes the exclusive gathering and processing partner for all of BP and its farmees natural gas production around the acquired BP system (1) Existing Production Future Production 1,935…
Strategic Footprint in East Texas / Western Louisiana East Texas / Western Louisiana System Activity Operating at approximately 75% utilization of total operating capacity in East Texas Area Continue to see third party drilling…
Anadarko Amendment Newly Expanded AMI Expands original dedication area by adding 10- year dedication for any new wells drilled in additional area of 800,000 acres in Western Louisiana Existing 1.1 million acres of…
Eagle Rock Energy Partners, L.P. Upstream Business Overview
Geographically Diverse Upstream Assets Mid-Continent Assets Proved Reserves: 233 Bcfe Q4 2012 Prod. Rate: 51.3 MMcfe/d % Gas (1): 65% Operated Wells: 235 Average Operated WI: 83% Permian Area Alabama/Miss. Area Proved Reserves:…
Diversified Reserve Base Across High Quality Basins Reserve Profile PUD 350 Bcfe of proved reserves Oil 24% NGLs 22% at 12/31/12 22% 12-year reserve life (1) Over 600 (gross) identified Gas 56% drilling locations (2)…
Golden Trend and the Cana Woodford Trend Broad Development and Expansion Continues Across Eagle Rocks Acreage Position With 35 rigs in the combined Cana and S.E. Cana Woodford plays, activity has remained strong but has shifted toward…
Golden Trend Field Drilling Update Producing Formations GR Log One-rig program drilling Bromide/Big4 wells during 2013. Drilling focused down-dip where current drilling results have been strong. Hart Sand Beam 4-17 Rigging up…
SCOOP: Southeast Canas Results Continue SCOOP EROC owns approximately 15,900 net acres in SCOOP EROC (76% WI) Riddle 14-32H 18 rigs currently drilling in Grady, 2013 Well Garvin, McClain and Stephens counties. 13 rigs drilling…
Stratigraphic Section Similar from SE Cana to Golden Trend A A 13 Miles Observations Woodford thickness remains at a constant 250 Resistivity indicates similar maturity and total organic carbon High porosity seen in both wells…
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% 86% 40% 81% 40% 76% 71% 48% 20% 20% 35%…
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
Individual System Overviews Eagle Rock Panhandle System Newly Acquired Panhandle System Nine processing plants with approximately 310 MMcf/d Two processing plants with 218 MMcf/d of cryogenic of cryogenic processing capacity (1)…
Adjusted EBITDA Reconciliation Adjusted EBITDA Reconciliation Three Months Ended Tw elve Months Ended Decem ber 31, Decem ber 31, 2012 2011 2012 2011 ( in thousands) ( in thousands) Net cash flows provided by operating activities…
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