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.…
Drivers of Success Midstream Business: Building a Texas Panhandle Franchise BP Midstream Acquisition added significant scale and reach to existing midstream position across the Texas Panhandle and has accelerated Eagle Rocks growth in…
Eagle Rock Energy Partners, L.P. Midstream Business Overview
Midstream Business Morrow/Cleveland Tonkawa Granite Wash Hogshooter Panhandle (1) 6,514 miles of pipeline 11 processing plants 211,500 compression HP Gathering Volume: 350 MMcf/d Equity NGL/Condensate: 6,162 Bbls/d…
Leading Franchise in Texas Panhandle 97 active rigs in counties in which EROC operates (10 - 15 rigs on dedicated acreage)(1) Completed June 2013 Over 350 new wells permitted in area over past six months Roberts Completed…
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 At current NYMEX strip pricing, Granite Wash ranks in top 5 most economical plays in the country, in terms of ROR Cleveland and Tonkawa rank among the top 20 149% 100% 87% 80% 75%…
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 Energy Partners, L.P. Upstream Business Overview
Geographically Diverse Upstream Assets Mid-Continent Assets Proved Reserves: 233 Bcfe Avg. Prod. Rate (1): 44.9 MMcfe/d % Gas (1): 62% Net 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 Legacy 5.9 Cana Cana Development Area: Interest MMcfe/d 7.1 18.6% MMcfe/d in 84…
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 28%-44% at current NYMEX…
SCOOP: Southeast Canas Results Continue SCOOP EROC owns approximately 16,500 net acres in SCOOP 18 rigs currently drilling in Grady, Garvin, McClain and Stephens counties. 13 rigs drilling horizontal EROC (76% WI) wells Brown…
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% 94% 40% 79% 40% 77% 63% 51% 20% 42% 20% 41%…
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 (2) 2013E % Hedged, Broken Out by…
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…
Adjusted EBITDA Reconciliation Adjusted EBITDA Reconciliation Three Months Ended Six Months Ended June 30, June 30, 2013 2012 2013 2012 ( in thousands) ( in thousands) Net cash flows provided by operating activities 64,232 22,782…
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