Why EV Energy Partners Proven Track Record in Acquisitions Multiple Acquisition Sources EnerVest Provides Operating Leverage and Scale in Multiple Basins Diverse Set of Properties with Organic Growth Potential Demonstrated…
EV Energy Partners, L.P. Upstream MLP Created in September 2006 (Nasdaq: EVEP) GP Ownership EnerVest & Management (76.25%) Encap (23.75%) 42.3 million outstanding units 3.5 billion enterprise value Strong balance sheet Current…
Diverse Asset Base Total Proved Reserves: 1,144 Bcfe Percent Developed: 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…
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…
Disciplined Acquirer Since 2011 Since 2007 2007 2011 Since 2007 2011 (Since 1/1/2007) EVEP Upstream MLPs Number of Deals: 23 72 Total (b): 1.8 14.5 R/P Ratio: 21 18 Note: 1/1/07 to 4/13/2012 Source: Wells Fargo…
Over Five Years of Growth and Diversification September 2006 (at IPO) December 31, 2011 Appalachia 69% Appalachia 11% 51 Bcfe 2 Basins 1,144 Bcfe 8 Basins 8
Barnett Shale EVEP / EnerVest is a Top 6 Joint purchases with EnerVest Barnett Shale Producer Institutional Partnerships totaling over 2.2 billion since December 2010 Reserves 695 million net to EVEP Located primarily in core and…
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…
EVEP Utica Shale Position EnerVest entities control 1.2 Legend EVEP JV Acreage million gross acres EVEP Non-JV Acreage 700,000 net acres EnerVest Fund Acreage 60% operated by EnerVest EVEP net Utica leasehold 150,000 net…
Recent Ohio Utica Shale Activity Overall Utica Activity EV Locations CHK/EV JV Wells 193 wells permitted Other/EV JV Wells Non EV Wells EV Cores 76 wells spud to date 9 wells producing CHK Activity 135 wells permitted 54 wells…
Production/Completion Observations Emphasis to date has been wet gas window CHK has 10 rigs running and plans to drill 90 wells in 2012 in CHK/Total JV Common Completion techniques: Slickwater, Gel, & Xlink 1,500 lbs/ft of…
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,…
2012 Utica Plans Continue De-risking the Play Wet gas window is essentially derisked Pad drilling has commenced Average cost/well has dropped 33% Oil window to be tested Preparing for monetization of all or part of Utica Shale…
Capital Structure 12/31/2011 ( millions) Pro Forma* Bank Debt 220 Senior Notes Due 2019 500 Equity Market Capitalization 2,732 Enterprise Value 3,452 Note: Equity market capitalization based on unit price at April 12, 2012.…
Disciplined Financing Strategy Since 2006, completed 1.8 billion of acquisitions, 61% of which were financed with equity and free cash flow Capital Activity (1) Acquisition Financing Since IPO Equity 1,027 56% Free Cash Flow 94…
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…
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) 154.4 -…
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