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NAPTP MLP CONFERENCE – Eagle Rock Energy Partners Lp

Eagle Rock Energy Partners Lp · May 20, 2015 · 27 slides

Investor presentation from the Shale Experts oil & gas presentation and slide database. Every page is imaged and its text indexed for search across operators, plays, basins and time.

Slides

  1. NAPTP MLP CONFERENCE – Eagle Rock Energy Partners Lp – slide 1
    2015 NAPTP MLP Conference May 20-22, 2015 DRAFT 2014 Citi MLP One-on-One Conference August 20, 2014
  2. NAPTP MLP CONFERENCE – Eagle Rock Energy Partners Lp – slide 2
    Partnership Overview & Recent Highlights Eagle Rock Energy Partners, L.P. NASDAQ: EROC
  3. NAPTP MLP CONFERENCE – Eagle Rock Energy Partners Lp – slide 3
    Eagle Rock Overview Eagle Rock Energy Partners, L.P. (NASDAQ: EROC) is a growth-oriented upstream MLP with assets in Oklahoma, Alabama, Texas, Mississippi and Arkansas Market Valuation Key Statistics ( in millions, except per unit…
  4. NAPTP MLP CONFERENCE – Eagle Rock Energy Partners Lp – slide 4
    Investment Highlights Over 175 MM of liquidity (59 MM ETP units as of 4/30/15(1) and 118 MM revolver availability) Strong Balance Net leverage ratio of 1.7x as of 4/30/15 Sheet No debt maturities until 2019 80% of expected…
  5. NAPTP MLP CONFERENCE – Eagle Rock Energy Partners Lp – slide 5
    Balance Sheet Strength Strong balance sheet after divestiture of Midstream Business Long-term financial plan 177 MM of liquidity (including ETP units) ETP units a source of liquidity to finance acquisitions ETP units are freely…
  6. NAPTP MLP CONFERENCE – Eagle Rock Energy Partners Lp – slide 6
    Robust Hedging Profile Crude and Condensate (1) Natural Gas and Ethane (1)(2) NGLs (C2)(1) 125% 125% 125% WTI Evaluating additional gas Evaluating additional NGL LLS hedges for 2017 2019 hedges for 2016 2017 100% 100% 100% 85% 86%…
  7. NAPTP MLP CONFERENCE – Eagle Rock Energy Partners Lp – slide 7
    Upstream Asset Base Mid-Continent Assets Proved Reserves: 226.9 Bcfe Alabama Area Avg. Prod. Rate (1): 52.5 MMcfe/d Proved Reserves: 49.9 Bcfe % Oil / Gas (1): 47% / 53% Avg. Prod. Rate (1): 16.7 MMcfe/d Net Acreage: 150,314 % Oil /…
  8. NAPTP MLP CONFERENCE – Eagle Rock Energy Partners Lp – slide 8
    High PDP Reserve Base Proved Reserve Profile By Category By Product By Area Alabama 318.2 Bcfe of proved PUD NGLs Oil 16% 21% 26% 21% Permian reserves at 12/31/14 7% PDNP STX/ETX/ (based on SEC Pricing) Other 6% 6% PDP 73%…
  9. NAPTP MLP CONFERENCE – Eagle Rock Energy Partners Lp – slide 9
    Eagle Rock Value Proposition Eagle Rock currently trades at a discount to upstream MLP peers Eagle Rock offers investors upside potential with its strong balance sheet and ample liquidity for acquisitions EV / LTM EBITDA Debt / LTM…
  10. NAPTP MLP CONFERENCE – Eagle Rock Energy Partners Lp – slide 10
    Midcontinent Eagle Rock Energy Partners, L.P. NASDAQ: EROC
  11. NAPTP MLP CONFERENCE – Eagle Rock Energy Partners Lp – slide 11
    Midcontinent Overview 150,314 Net Acres, 97% Held by Production Cleveland Cana Woodford / Stack Play Arkoma Golden Trend Granite Wash Verden Legend SE Cana Eagle Rock Wells Operated Woodford and Eagle Rock Wells Non…
  12. NAPTP MLP CONFERENCE – Eagle Rock Energy Partners Lp – slide 12
    SCOOP Area Overview SCOOP Asset Map 20,000 Net Acres Shale Basin Metric Barnett Marcellus Woodford Springer Depth (ft) 6,500' - 8,500' 4,000' - 8,500' 5,000' - 16,500' 11,000' - 14,000' Net Thickness (ft) 100' - 700' 50' - 350' 120' -…
  13. NAPTP MLP CONFERENCE – Eagle Rock Energy Partners Lp – slide 13
    Reservoir Characteristics and Development Planning Commentary Springer (Goddard) Shale Beckham 1-27H Eagle Rock Energy 11,000 14,000 TVD Gamma, Resistivity, Density 25 producing wells GR RES DPHI Discovery well Wilkerson 2000…
  14. NAPTP MLP CONFERENCE – Eagle Rock Energy Partners Lp – slide 14
    SCOOP Locations SCOOP Drilling Locations (20,000 Net Acres) Location Selection Criteria Depth range from 9,000 to 16,000 TVD DEEP SCOOP Substantially all of EROC acreage is held by production 10,000 no lease expirations Utilize…
  15. NAPTP MLP CONFERENCE – Eagle Rock Energy Partners Lp – slide 15
    Selected Deep SCOOP Activity (Woodford 10,000 Vertical depth) Selected Deep SCOOP Activity Commentary MCLEMORE 1-20H (EROC), WI: 42% EROC drilled Linton 1-5-32XH well in IP30: 315 Bbl/d, 2,192 Mcf/d Township 5N6W Section 5 with…
  16. NAPTP MLP CONFERENCE – Eagle Rock Energy Partners Lp – slide 16
    Selected Goddard (Springer) Shale Activity Selected Goddard Activity Commentary RENEW CHICKASHA 1-21H (CLR) IP 24hr: 1,199 Boe/d GALA 1-22H (CLR) BIRT 1-13H (CLR) IP 24hr: 793 Boe/d The Springer play overlays the SE Cana Woodford…
  17. NAPTP MLP CONFERENCE – Eagle Rock Energy Partners Lp – slide 17
    Alabama Eagle Rock Energy Partners, L.P. NASDAQ: EROC
  18. NAPTP MLP CONFERENCE – Eagle Rock Energy Partners Lp – slide 18
    Alabama Overview Mature, liquids-rich, shallow-decline Smackover and Norphlet fields Asset Map located in Southern Alabama BEC 8% average annual decline Field 1Q15 net production of 16.7 Mmcfe/d and 190 LT/d of sulfur Flomaton…
  19. NAPTP MLP CONFERENCE – Eagle Rock Energy Partners Lp – slide 19
    Big Escambia Creek BEC plant runtimes have been strong following the SuperClaus installation at the end of 2012 99% runtimes at the sulfur and cryogenic plant Planned 12-day routine turnaround in April 2015 temporarily reduced…
  20. NAPTP MLP CONFERENCE – Eagle Rock Energy Partners Lp – slide 20
    Summary Financial Information Eagle Rock Energy Partners, L.P. NASDAQ: EROC
  21. NAPTP MLP CONFERENCE – Eagle Rock Energy Partners Lp – slide 21
    Pro Forma Upstream Financials and Guidance Historical Summary Financial Results Summary Guidance ( in millions) 2012A 2013A 2014A 1Q 2015A Expect G&A to decrease to a run-rate of Volumes (MMcfe) 7.3 7.7 MM per quarter, as compared…
  22. NAPTP MLP CONFERENCE – Eagle Rock Energy Partners Lp – slide 22
    Why Invest in Eagle Rock 23 Eagle Rock Energy Partners, L.P. NASDAQ: EROC
  23. NAPTP MLP CONFERENCE – Eagle Rock Energy Partners Lp – slide 23
    Appendix Eagle Rock Energy Partners, L.P. NASDAQ: EROC
  24. NAPTP MLP CONFERENCE – Eagle Rock Energy Partners Lp – slide 24
    Permian Overview The Permian assets contain numerous fields located Asset Map primarily in Ward, Pecos and Crane counties These fields produce from multiple intervals from the Yates- Seven River-Queen group through the Ellenburger…
  25. NAPTP MLP CONFERENCE – Eagle Rock Energy Partners Lp – slide 25
    Permian CO2 Potential Whiting North Ward Estes CO2 Project Whiting Petroleum is currently operating and expanding a successful CO2 flood immediately north of Eagle Rocks position Whiting CO2 Project CO2 injection was initiated in…
  26. NAPTP MLP CONFERENCE – Eagle Rock Energy Partners Lp – slide 26
    ETX / STX / MS Overview 10% average annual decline rate East Texas Asset Map Production primarily from the Smackover formation at 12,000 feet to 12,700 feet Produced gas includes approximately 30% hydrogen sulfide, nitrogen and CO2…
  27. NAPTP MLP CONFERENCE – Eagle Rock Energy Partners Lp – slide 27
    Adjusted EBITDA and DCF Reconciliation Three Months Ended Three Months Ended Ma rch 31, December 31, 2015 2014 2014 Net l os s to Adjus ted EBITDA Net l os s , a s reported (58,719) (18,563) (344,591) Depreci a tion, depl etion a…

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