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UBS MLP One on One Conference – Eagle Rock Energy Partners Lp

Eagle Rock Energy Partners Lp · Jan 10, 2013 · 28 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. UBS MLP One on One Conference – Eagle Rock Energy Partners Lp – slide 1
  2. UBS MLP One on One Conference – Eagle Rock Energy Partners Lp – slide 2
    Eagle Rock Energy Partners, L.P. Overview of Eagle Rock Energy Partners
  3. UBS MLP One on One Conference – Eagle Rock Energy Partners Lp – slide 3
    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.…
  4. UBS MLP One on One Conference – Eagle Rock Energy Partners Lp – slide 4
    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…
  5. UBS MLP One on One Conference – Eagle Rock Energy Partners Lp – slide 5
    Eagle Rock Value Proposition Upstream Yield with Significant Midstream Exposure Upstream MLPs 12.0% 11.3% 10.4% 10.8% 9.2% 9.3% 9.3% 9.6% 10.0% 8.7% 8.8% Average: 9.5% 7.8% 8.0% Current Distribution 6.0% Yield 4.0% 2.0%…
  6. UBS MLP One on One Conference – Eagle Rock Energy Partners Lp – slide 6
    Eagle Rock Energy Partners, L.P. Midstream Business Overview
  7. UBS MLP One on One Conference – Eagle Rock Energy Partners Lp – slide 7
    Midstream Business Morrow/Cleveland Tonkawa Granite Wash Hogshooter Panhandle (1) 6,463 miles of pipeline 11 processing plants 200,000 compression HP Gathering Volume: 420 MMcf/d Equity NGL/Condensate: 6,400 Bbls/d…
  8. UBS MLP One on One Conference – Eagle Rock Energy Partners Lp – slide 8
    Leading Franchise in Texas Panhandle 90-100 active rigs in counties in which EROC operates (8- 12 rigs on dedicated acreage) Over 575 wells permitted in area over past six months Roberts 6,500 miles of gathering lines in…
  9. UBS MLP One on One Conference – Eagle Rock Energy Partners Lp – slide 9
    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…
  10. UBS MLP One on One Conference – Eagle Rock Energy Partners Lp – slide 10
    The Texas Panhandle Fairway: Serving Multiple Prolific Formations Eagle Rock is Well-Positioned to Serve Growing Production Volumes Stacked Pay Zones Improve Economics Roberts Combined system will have approximately 540…
  11. UBS MLP One on One Conference – Eagle Rock Energy Partners Lp – slide 11
    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,…
  12. UBS MLP One on One Conference – Eagle Rock Energy Partners Lp – slide 12
    Superior Economics Driving Production Growth 160% Projected Granite Wash Daily Production (1) 142% 140% Other(s) Unit Corporation Penn Virginia 120% Cimarex Energy Single Well Returns (2) Linn Energy QEP Resources…
  13. UBS MLP One on One Conference – Eagle Rock Energy Partners Lp – slide 13
    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 2,100…
  14. UBS MLP One on One Conference – Eagle Rock Energy Partners Lp – slide 14
    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…
  15. UBS MLP One on One Conference – Eagle Rock Energy Partners Lp – slide 15
    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…
  16. UBS MLP One on One Conference – Eagle Rock Energy Partners Lp – slide 16
    Eagle Rock Energy Partners, L.P. Upstream Business Overview
  17. UBS MLP One on One Conference – Eagle Rock Energy Partners Lp – slide 17
    Geographically Diverse Upstream Assets Mid-Continent Assets Proved Reserves: 257 Bcfe Q3 2012 Prod. Rate: 53.5 MMcfe/d % Gas (1): 68% Operated Wells: 316 Average Operated WI: 83% Permian Area Alabama/Miss. Area Proved Reserves:…
  18. UBS MLP One on One Conference – Eagle Rock Energy Partners Lp – slide 18
    Diversified Reserve Base Across High Quality Basins Reserve Profile PUD NGLs 371 Bcfe of proved 24% 18% reserves at 12/31/11 12-year reserve life (1) PDNP Gas 6% 63% Oil PDP Over 650 (gross) identified 19% 70% drilling…
  19. UBS MLP One on One Conference – Eagle Rock Energy Partners Lp – slide 19
    Golden Trend and the Cana Woodford Trend Broad Development and Expansion Continues Across Eagle Rocks Acreage Position With 32 rigs in the combined Cana and S.E. Cana Woodford plays, activity has remained strong but has shifted toward…
  20. UBS MLP One on One Conference – Eagle Rock Energy Partners Lp – slide 20
    SCOOP: Southeast Canas Strong Results Continue SCOOP EROC owns approximately 14,000 net acres in the SCOOP 12 rigs currently drilling in Grady, Garvin, McClain and Stephens EROC (76% WI) counties Riddle 14-32H 2013 Well Beckham…
  21. UBS MLP One on One Conference – Eagle Rock Energy Partners Lp – slide 21
    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…
  22. UBS MLP One on One Conference – Eagle Rock Energy Partners Lp – slide 22
    Golden Trend Field Drilling Update Producing Formations GR Log 2 rigs currently drilling Bromide / Big 4 wells. Drilling first Woodford horizontal in the Golden Trend Field; expected to spud in Q1 2013. Hart Sand Springer Sand…
  23. UBS MLP One on One Conference – Eagle Rock Energy Partners Lp – slide 23
    Eagle Rock Energy Partners, L.P. Hedging Update
  24. UBS MLP One on One Conference – Eagle Rock Energy Partners Lp – slide 24
    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% 80% 40% 81% 54% 20% 39% 20% 33% 33%…
  25. UBS MLP One on One Conference – Eagle Rock Energy Partners Lp – slide 25
    Key Investment Highlights Strategically Located, Diversified Asset Base Experienced and Strong Financial Proven Management Profile Team Proven Track Record of Disciplined Hedging Growth, Highlighted by Strategy BP…
  26. UBS MLP One on One Conference – Eagle Rock Energy Partners Lp – slide 26
    Eagle Rock Energy Partners, L.P. Appendix
  27. UBS MLP One on One Conference – Eagle Rock Energy Partners Lp – slide 27
    Individual System Overviews Eagle Rock Panhandle System Newly Acquired Panhandle System Nine processing plants with approximately 330 MMcf/d Two processing plants with approximately 220 MMcf/d of processing capacity (1) cryogenic…
  28. UBS MLP One on One Conference – Eagle Rock Energy Partners Lp – slide 28
    Adjusted EBITDA Reconciliation Adjusted EBITDA Reconciliation Three Months Ended Nine Months Ended Septem ber 30, Septem ber 30, 2012 2011 2012 2011 ( in thousands) ( in thousands) Net cash flows provided by operating activities…

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