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NAPTP 2012 MLP Investor Conference – EV Energy Partners Lp

EV Energy Partners Lp · May 24, 2012 · 23 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. NAPTP 2012 MLP Investor Conference – EV Energy Partners Lp – slide 1
    NAPTP May 24, 2012
  2. NAPTP 2012 MLP Investor Conference – EV Energy Partners Lp – slide 2
    Why EV Energy Partners Proven Track Record in Acquisitions Multiple Acquisition Sources EnerVest Provides Operating Leverage and Scale in M lti l B Multiple Basins i Diverse Set of Properties with Organic Growth Potential e o s…
  3. NAPTP 2012 MLP Investor Conference – EV Energy Partners Lp – slide 3
    EV Energy Partners, L.P. Upstream p MLP Created in September p 2006 (Nasdaq: EVEP) GP Ownership EnerVest & Management (76.25%) (76 25%) Encap (23.75%) 42.3 million outstanding units 3.0 3 0 billion billi enterprise t i…
  4. NAPTP 2012 MLP Investor Conference – EV Energy Partners Lp – slide 4
    Diverse Asset Base Total Proved Reserves: 1,144 Bcfe Percent Developed: p 68% Percent Gas: 71% Michigan 2011 Avg. Production: 112.8 MMcfe/d Proved Reserves: 44.9 Bcfe Reserve-Life Index: 19 years 2011 Production: 6.7 Mmcfe/d Gross…
  5. NAPTP 2012 MLP Investor Conference – EV Energy Partners Lp – slide 5
    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 4 Tcfe of Proved Reserves…
  6. NAPTP 2012 MLP Investor Conference – EV Energy Partners Lp – slide 6
    Disciplined Acquirer Since 2011 Since 2007 2007 2011 Since 2007 2011 (Since 1/1/2007) EVEP Upstream MLPs Number of Deals: 23 77 Total ( ) (b): 1.8 15.0 R/P Ratio: 21 18 Note: 1/1/07 to 5/18/2012 Source: Wells…
  7. NAPTP 2012 MLP Investor Conference – EV Energy Partners Lp – slide 7
    Over Five Years of Growth and Diversification e s cat o September 2006 (at IPO) December 31, 2011 Appalachia 69% Appalachia 11% 51 Bcfe 2 Basins 1,144 Bcfe 8 Basins 8
  8. NAPTP 2012 MLP Investor Conference – EV Energy Partners Lp – slide 8
    2012 Organic Growth Activity Appalachian Basin: Ongoing CHK JV activity I iti l E Initial EnerVest V t Uti Utica D Drilling illi Potential Utica Monetization/Swap Ongoing Knox Activity Mid Continent: Continuing Granite…
  9. NAPTP 2012 MLP Investor Conference – EV Energy Partners Lp – slide 9
    Barnett Shale EVEP / EnerVest is a Top 6 Joint purchases with EnerVest Barnett Shale Producer Institutional Partnerships totaling g over 2.2 billion since December 2010 Reserves 695 million net to EVEP Located primarily in core…
  10. NAPTP 2012 MLP Investor Conference – EV Energy Partners Lp – slide 10
    EnerVests Dominant Ohio Position Largest Producer in Ohio Producing assets acquired in 5 separate transactions since 2003 8,700 gross wells 85 MMcfe/d gross production 200 employees Massive proprietary geological database…
  11. NAPTP 2012 MLP Investor Conference – EV Energy Partners Lp – slide 11
    EVEP Utica Shale Position EnerVest entities control 1.2 million Legend EVEP JV Acreage gross acres EVEP Non-JV Acreage EnerVest Fund Acreage 700,000 net acres 60% operated by EnerVest EVEP net Utica leasehold 150,000 net WI…
  12. NAPTP 2012 MLP Investor Conference – EV Energy Partners Lp – slide 12
    Recent Ohio Utica Shale Activity Overall Utica Activity EV Locations CHK/EV JV Wells Other/EV JV Wells Non EV Wells Well 211 wells ppermitted EV Cores 90 wells spud to date 10 wells producing CHK Activity 135 wells permitted 54…
  13. NAPTP 2012 MLP Investor Conference – EV Energy Partners Lp – slide 13
    Production/Completion Observations Emphasis to date has been wet gas window CHK has 10 rigs running and plans to drill 120 wells in 2012 in CHK/Total JV Recent initial production in oil window Common Completion techniques:…
  14. NAPTP 2012 MLP Investor Conference – EV Energy Partners Lp – slide 14
    Oil Window Activity Noble and Guernsey Counties CNXs Troyer Well in western Tuscawaras Co. RHDK 8H Anadarkos 2 Spencer wells 60 days online 435 Boe/d 76% il 76% oil APCs FRECMeigs permit: EVEP WI = 5% Anadarkos…
  15. NAPTP 2012 MLP Investor Conference – EV Energy Partners Lp – slide 15
    Midstream Activity Ramping Up MARINER WEST Deliver Ethane from SUNOCO to SARNIA SHELL Cracker 65 MBBL/d Proposed In Service: Mid 2013 NiSource Momentum/CHK/EVEP Processing: 200 MMcf/d Processing: 600 MMcf/d Residue: TETCO, REX,…
  16. NAPTP 2012 MLP Investor Conference – EV Energy Partners Lp – slide 16
    2012 Utica Plans Continue De-risking the Play Part of wet gas window is de-risked Pad drilling has commenced Average cost/well has dropped 33% Oil window continues to be tested Initiating process for monetization of all or part…
  17. NAPTP 2012 MLP Investor Conference – EV Energy Partners Lp – slide 17
    Capital Structure ( millions) Bank Debt 3/31 / 235 Senior Notes Due 2019 500 Equity Market Capitalization 2,245 Enterprise Value 2,980 Note: Equity market capitalization based on unit price at May 17, 2012. Includes…
  18. NAPTP 2012 MLP Investor Conference – EV Energy Partners Lp – slide 18
    Disciplined Financing Strategy Since 2006, completed 1.8 billion of acquisitions, 61% of which were financed with equity q y and free cash flow Capital Activity (1) Acquisition Financing Since IPO Equity 1,027 56% Free Cash…
  19. NAPTP 2012 MLP Investor Conference – EV Energy Partners Lp – slide 19
    Commodity Hedging: Natural Gas Gas Volume Hedged (MMbtu/d) Gas Prices Hedged (/MMbtu) Note: Estimated NYMEX Henry Hub equivalent with basis differentials of: Dominion Appalachia 0.18, MichCon Citygate 0.27, Houston Ship Channel…
  20. NAPTP 2012 MLP Investor Conference – EV Energy Partners Lp – slide 20
    Commodity Hedging: Oil Oil Volume Hedged (Bbl/d) Oil Prices Hedged (/Bbl) 21
  21. NAPTP 2012 MLP Investor Conference – EV Energy Partners Lp – slide 21
    Commodity Hedging: NGLs Ethane Volume Hedged (Bbl/d) Propane Volume Hedged (Bbl/d) 22
  22. NAPTP 2012 MLP Investor Conference – EV Energy Partners Lp – slide 22
    2012 Guidance Full Year 2012 Net Production: Natural Gas ((MMcf)) 40,250 , - 44,500 , Crude Oil (MBbls) 1,065 - 1,155 Natural Gas Liquids (MBbls) 1,645 - 1,820 Total MMcfe 56,510 - 62,350 Average Daily Production (MMcfe/d)…
  23. NAPTP 2012 MLP Investor Conference – EV Energy Partners Lp – slide 23
    NAPTP May 24, 2012

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