2015 Bank of America Merrill Lynch Global Energy and Power Leveraged Finance Conference Daniel C. Herz, Chief Executive Officer June 2, 2015
ARP Profile Long-lived oil & gas production and fee income providing investors a stable cash flow stream Stable cash flow from diverse asset base and fee- ARP Key Statistics based income through partnership business Market Cap: 800…
Producing Regions Operating Statistics Net Acreage: 1,472,000 Net Developed: 696,000 Net Undeveloped: 776,000 Producing Wells: 14,000 Powder Pittsburgh ARP Operations: 12 states River Basin Office Addtl ARP Non-Op:…
Reserve Summary ARPs proved reserves have low decline rates and operating costs Year End 2014 Reserve Summary (1) Gas (Bcf) Oil (MMbbl) NGL (MMbbl) Total (Bcfe) % of Reserves PV-10 (MM) Proved Developed 763.0 17.7 9.7 927.9 64.9%…
Hedging Provides Stable Cash Flow ARP employs a consistent and conservative hedging strategy to stabilize future cash flow streams 98% of oil & natural gas hedges are fixed price swaps; no exposure from exotic positions or expensive…
ARP: Advantaged Business Model Expand and diversify production base through acquisition of mature, long-lived properties 2.2B in acquisitions since March 2012 Diversified asset base offers operating scale and significant opportunity…
Partnership Management Advantages Over 40 years of raising Strong History partnership funds Programs are sold in all 50 Breadth of Market Access states; over 50,000 active investors Atlas internal resources handle all regulatory…
Mutual Benefits from Partnership Management Upfront fees recognized as investor capital is deployed Substantial 1st year tax Ongoing fees from the deduction ( 90% of investment) Atlas management of production and Cash flow from 70%…
Partnership Income Breakdown Description Fee Structure FY 2014 Margin Upfront Fee Income Realized upon 15% markup on costs Well Construction & deployment of funded by partners 22.6 MM Completion investor funds Realized when a…
Cash Flow Stability Total Company Gross Margin Comprehensive hedge position stabilizes future gas and oil Partnership Unhedged production revenues; substantial Production Margin portion of acquired production is 18% Margin…
ARP Capitalization Summary ARP Pro Forma March 31, 2015 Capitalization Pro Forma March 31, 2015 Cash & Cash Equivalents 2.6 Credit Facility Borrowings 544.0 Second Lien Financing 235.3 Senior Unsecured Notes 698.5 Market…
Barnett Shale & Appalachia Basin Barnett Shale Appalachia Basin Denton Co. Tarrant Co. Majority of the assets located in the core portion of the 38 mmcfe/d of net production in Q4 2014 (includes Utica Barnett Shale…
Raton / Black Warrior/ County Line (CBM Assets) Stable producing, shallow decline assets with low operating costs Assets include gathering systems Q4 2014 production of 105.6 MMcf/d Raton (New Mexico) Black Warrior (Alabama) County…
Rangely Summary 25% WI, 23% NRI Chevron Corporation operates the assets and owns a 68% working interest Approximately 380 producing wells and 270 Rangely Field injector wells 1P: 47 Mmboe Shallow base decline of 3-4% over the past…
Eagle Ford Asset Overview Located in the oil window of the Eagle Ford Shale in Atascosa Co., TX 12 MMBoe of oil-rich reserves, 86% Oil 100% WI / 74% NRI 100% operated Approximately 4,000 net acres 17
Other Inventory of Properties Mississippi Lime 20,000 net acres in the core of the Mississippi Lime play in northwestern OK ARP Position 100+ drilling locations Established gas gathering, water gathering and electrical…
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