Rice Midstream Partners Investor Presentation March 2015 1
Investment Highlights 141K net acres in the dry gas cores of the Marcellus and Utica with 13+ year inventory in each area E&P Sponsorship Top-tier well results generate single-well returns of 55-64%; PV10 breakevens below 3 NYMEX with…
Premier E&P Sponsorship RICE RICE owns 100% of the GP and IDRs and a 50% LP ownership, creating alignment between RMP and RICE Rice Midstream DE 300 mm Credit Facility Holdings LLC Rice Midstream IDRs OH Gathering &…
Rice Midstream Partners MLP Overview Marcellus Gathering and Compression SYSTEM MAP Initial assets consist of gas gathering system Legend RMP Gathering Pipeline Beaver with expected capacity of 4.1MMDth/d by YE15 RMP Gathering…
3rd Party Midstream Dedications RMP Commentary SYSTEM MAP Legend 3rd party gathering dedications RMP Gathering Pipeline Beaver RMP Gathering Pipeline 21,000 gross acres dedicated Beaver to be Constructed PENNSYLVANIA RICE…
Drop Down Opportunities Overview Overview of Assets Assets include OH gas gathering and PA/OH Legend RICE Gathering Pipeline water sourcing and distribution RICE Gathering Pipeline to be Constructed Hancock RICE Water Pipeline…
Industry-Leading Throughput Growth Dec. 2014 throughput of 682 MDth/d through RICE and RMP midstream systems (14% 3rd Party), represents a 286% increase since Jan. 2014 average throughput RMP System: 584 MDth/d (8% 3rd Party) RICE OH…
RMP Financial Overview CAPITALIZATION AND LIQUIDITY AT 12/31/14 2015 GUIDANCE millions, except per share data, as of 12/31/14 Common Units (MM) 29 2015 Capital Budget (in millions) Subordinated Units (MM) 29 Gas Gathering 85 Total…
RICE Overview 9
Concentrated, Core Assets COMPANY TOTAL CORE ASSETS Highly concentrated position of 141,000 net acres in the Legend RMP Gathering Pipeline cores of the lowest breakeven gas shale plays in the U.S. RMP Gathering Pipeline to be…
Deep Inventory of High Returning Projects Low breakevens between 2.35-3.05/MMBtu = profitable returns throughout the commodity price cycle Inventory and Returns Summary IRR 200% 175% 171% 168% 150% 124% 125% 121% 132% 100%…
Firm Transport De-Risks Production Growth RICE was early in identifying and securing its basin-leading portfolio of firm capacity Firm capacity covers 100% of 2015 and a significant portion of RICEs volumes in 2016-2018 Firm…
Ample Liquidity and Financial Flexibility RICE is capable of funding 100% of 2015 capital plan with liquidity on-hand Favorable credit metrics & covenants ensure flexibility Cash & Revolver Capacity MM 800 712 700 600 229 (1)…
Industry Activity Underscores Rices Core Position Appalachia Rig Activity (1) March 2015 Rig Counts By County 14 12 OH 10 8 PA 6 4 County Activity Levels 2 10+ Rigs Rice Acreage 0 6-10 Rigs ELK SUSQUEHANNA…
RMP & Rice Market Snapshot Rice Midstream Partners LP Rice Energy Inc (NYSE: RMP) (NYSE: RICE) millions, except per unit data, as of 3/6/15 millions, except per share data, as of 3/6/15 Common Units 29 Management Ownership 30%…
Appendix 16
Midstream System Statistics Marcellus (PA) Utica (OH) Gathering and Compression Statistics Gathering and Compression Statistics YE14 YE15 YE14 YE15 Gathering and Compression Statistics Gas Gathering Pipeline Mileage (miles) 81 111 Gas…
RMP Gathering System Build-out SUMMARY 2011 2012 RMPs midstream system has grown significantly since 2013 As of 12/31/14, constructed 81 miles of gathering pipelines Washington Washington System will be substantially complete by…
Right of First Offer RICE PA + OH Water Systems PA and OH Water Asset Description OVERVIEW OF ASSETS RICE is expanding two independent fresh water Beaver distribution systems to service PA and OH Hancock completions operations…
Single Well Production Profile Marcellus, Utica Marcellus production profile supported by 3+ years of historical production Utica initial wells performing better than RICEs best Marcellus wells Marcellus Type Well Versus Historical…
Efficient Production Growth Demonstrates Production Potential RICEs peer-leading production growth is driven by a focus on well quality, not quantity RICE reached 500 MMcfe/d of gross operated Marcellus production with fewer wells than…
Additional Disclosures Determination of Identified Drilling Locations as of December 31, 2014 Net undeveloped locations are calculated by taking RICEs total net acreage and multiplying such amount by a risking factor which is then…
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