Acquisition Overview Atlas Resource Partners, LP (ARP) has agreed to acquire certain natural gas assets from EP Energy Total consideration of 733 million, excluding cash flow received from the May 1, 2013 effective date, subject to…
Acquired Asset Summary Expansive asset position with low decline Total asset statistics (1) 466 bcf proved reserves 100% gas 93% proved developed 119 Mmcf/d May 2013 production County Line(1) 1P reserves: 6 Bcf May prod: 5…
Acquisition Rationale 1 Immediately accretive to distributable cash flow The acquired assets have very shallow production decline 2 (approximately 8 10%)(1) 3 Significant PDP volumes will drive even greater stability of cash…
Reserve Comparison The EP Energy assets EP Energy Acquired Standalone Proved Reserves Reserves(1) PUD 7% PUD PD 50% 50% PD 93% 911 Bcfe 466 Bcf Liquids 28% Natural Gas Natural 100% Gas 72% 6 (1) Based on internal…
ARP Acquisitions Date Seller Purchase Price June 2013 733MM December 2012 255MM September 2012 59.3MM May 2012 193MM March 2012 187MM 7
ACQUIRED ASSET OVERVIEW 8
Acquired Asset Summary Expansive asset position with low decline Operating statistics(1) 466 Bcf of proved reserves 100% natural gas County Line(1) 1P reserves: 6 Bcf 93% proved developed 119 Mmcf/d current production…
Asset Overview Raton(1) Direct mineral ownership of 605,000 net acres 94% NRI 100% operated Shallow base decline, low opex and maintenance capex May 2013 monthly average production of 76 Mmcfe/d 320 Bcfe of proved reserves,…
Asset Overview Black Warrior(1) Stable production profile, low base decline, long R/P, base optimization and future drilling opportunities 82% operated May 2013 monthly average production of 37 Mmcfe/d 141 Bcfe of proved…
Asset Overview County Line(1) WY County Line 5,832 net acres (non- operated) in Johnson County, Wyoming 5 Mmcf/d production Johnson County, WY EP Acreage 12 (1) Based on internal reserve and production estimates prepared in…
FINANCIAL OVERVIEW 13
As Adjusted ARP Capitalization ARP has received committed financing in support of the transaction ARP will fund the transaction primarily with equity via a common equity offering as well as a preferred subscription from ATLS The…
Strong Hedge Positions Natural Gas (1) 35.0 Disciplined and comprehensive 4.22 - Puts 30.0 5.12 hedge strategy enhances the Collars stability of ARPs future cash flow 25.0 Swaps Volume Hedged (Bcf) 4.40 - 4.23 - 5.44 5.13…
APPENDIX 16
Pro Forma Asset Overview Pennsylvania/ W VA Marcellus Shale County line Utica Shale Raton Mississippi Lime Other ARP producing areas Barnett Shale and Black Marble Falls Warrior ARP base assets Indiana/Michigan…
Marcellus Shale Update 3,000 net Marcellus acres in Lycoming County Recently completed 8 horizontal wells, including 131 frac stages (scheduled for production in early Q3 2013) Average initial flow rates of 20 MMcf/d per well Up…
Utica Shale Position Legacy Ohio operations: Trumbull County Site 2,500 producing shallow wells Columbiana Co. Long lived reserves with low decline site Stark County Site ARP controls 5,500 net acres prospective for the Utica…
Barnett Shale Update Majority of the assets located in the Core portion of the Barnett Shale 60 Mmcfe/d of current production 560 Bcfe of proved reserves(1) 93% gas, 7% NGLs & Oil(1) 94% of all Barnett Shale acreage is held by…
Marble Falls Update Acquired in December 2012 from DTE Energy 88,000 net acres in Jack, Clay, Denton, Wise, Erath, Parker, Hood and Palo Pinto Counties in Texas 75,000 net acres, primarily concentrated in Jack County Close…
Mississippi Lime Update 20,000 net acres in the core of the Mississippi Lime play in northwestern OK Acreage is located in Alfalfa, Grant and Garfield counties; oil & liquids rich portion of the play ARP Position Position is held…
Partnership Management: Strong History of Growth Over 1.5B in 40 year history funds raised in of fundraising the past 6 years Partnership Management Business Over 50,000 Broker dealers individual selling programs in…
Syndication Business Model Value to Drilling Partners Value to Atlas Resource Partners Substantial 1st year tax deduction Upfront fees from fundraising; 15% over costs paid by partners against ordinary income (100% of investment…
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