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NAPTP MLP INVESTOR CONFERENCE – LRR Energy LP

LRR Energy LP · May 24, 2012 · 17 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 INVESTOR CONFERENCE – LRR Energy LP – slide 1
    LRR Energy, L.P. NAPTP MLP Investor Conference May 24, 2012
  2. NAPTP MLP INVESTOR CONFERENCE – LRR Energy LP – slide 2
    LRR Energy, L.P. Who is Lime Rock Lime Rock Management Lime Rock Founded in 1998 Manages 3.9 billion of private capital Lime Rock Partners Lime Rock Resources LRR Energy, L.P. LRP LRR LRE 3.0 billion capital Formed in 2005…
  3. NAPTP MLP INVESTOR CONFERENCE – LRR Energy LP – slide 3
    LRR Energy, L.P. LRR Energy, L.P. Upstream MLP formed in November 2011 (NYSE: LRE) Operate, acquire, exploit and develop mature oil and gas properties Experienced team with proven acquisition, operational and exploitation track…
  4. NAPTP MLP INVESTOR CONFERENCE – LRR Energy LP – slide 4
    LRR Energy, L.P. Recent Acquisition Transaction Summary Acquisition Overview Seller: Lime Rock Resources Operating Areas: Permian Basin and onshore Gulf Coast region Purchase Price: 67.0 million (87,582/Boe/d, 4.5x trailing cash…
  5. NAPTP MLP INVESTOR CONFERENCE – LRR Energy LP – slide 5
    LRR Energy, L.P. Recent Acquisition Property Summary Total Package April 2012E Production (Boe/d) 765 Corral Canyon Proved Reserves (MBoe) 1,728 April 2012E Production (Boe/d) 606 % Proved Developed Producing 92% Proved Reserves…
  6. NAPTP MLP INVESTOR CONFERENCE – LRR Energy LP – slide 6
    LRR Energy, L.P. Pro Forma Property Summary Mid Continent April 2012E Production (Boe/d) 2,038 LRE Total Proved Reserves (MMBoe) 10.0 April 2012E Production (Boe/d) 6,646 % Proved Developed 94% Proved Reserves (MMBoe) 30.6 %…
  7. NAPTP MLP INVESTOR CONFERENCE – LRR Energy LP – slide 7
    LRR Energy, L.P. Quality Assets Shallow production decline Low Risk, Mature Assets 86% proved developed reserves 12.6 R/P Focused operations and diversified geographically Focused Portfolio Three operating areas with scale…
  8. NAPTP MLP INVESTOR CONFERENCE – LRR Energy LP – slide 8
    LRR Energy, L.P. Permian Basin Region1 Key fields: Red Lake, Pecos Slope, Corral Canyon Proved reserves: 16.8 MMBoe (55% of total) R/P Ratio: 12.8 years LRE operated: 93% of value 152 gross development projects & 174 gross…
  9. NAPTP MLP INVESTOR CONFERENCE – LRR Energy LP – slide 9
    LRR Energy, L.P. Mid-Continent & Gulf Coast Regions Mid-Continent Summary Overview1 Gulf Coast Summary Overview1 Key fields: Potato Hills Key fields: New Years Ridge, GW-Stratton Proved reserves: 10.0 MMBoe (33% Proved reserves:…
  10. NAPTP MLP INVESTOR CONFERENCE – LRR Energy LP – slide 10
    LRR Energy, L.P. Significant Growth Potential Acquisition Sources Drop-downs Joint Bids Acquisitions Acquisitions from with from from Third Lime Rock Lime Rock Lime Rock Parties Resources Resources Partners 18.3 MMBoe…
  11. NAPTP MLP INVESTOR CONFERENCE – LRR Energy LP – slide 11
    LRR Energy, L.P. Conservative Financial Strategy Capital required to maintain production over long term Maintenance Estimated 18 million per year on existing assets Capital Will be updated shortly after acquisition closes…
  12. NAPTP MLP INVESTOR CONFERENCE – LRR Energy LP – slide 12
    LRR Energy, L.P. Hedge Portfolio Natural Gas Hedges 10 84% of current PDP is hedged through 2015 8 Production (Bcf) Assuming flat production1, total 6 production is hedged 75% in 2012, 4 69% 77% 64% in 2013, 51% in 2014…
  13. NAPTP MLP INVESTOR CONFERENCE – LRR Energy LP – slide 13
    LRR Energy, L.P. Upstream MLP Yields1 LRE's current yield is attractive compared to peers 14.0% 12.0% 11.5% 11.4% 11.0% 10.6% 10.2% 10.0% 9.6% Peer Average: 9.2% 8.4% 8.1% 7.9% 8.0% 6.0% 5.8% 4.0% 2.0%…
  14. NAPTP MLP INVESTOR CONFERENCE – LRR Energy LP – slide 14
    LRR Energy, L.P. Why LRE MLP Conservative Quality Growth Proven Financial Assets Potential Management Strategy Stable, low-risk Multiple avenues Experienced and Distributions and predictable for growth incentivized supported by:…
  15. NAPTP MLP INVESTOR CONFERENCE – LRR Energy LP – slide 15
    Appendix 15
  16. NAPTP MLP INVESTOR CONFERENCE – LRR Energy LP – slide 16
    Appendix Management Team & Board of Directors Executive Leadership Years of Name and Position Experience Select Prior Experience Eric Mullins 21 Lime Rock Resources; Goldman Sachs Co-CEO and Chairman Charles Adcock 35 Lime Rock…
  17. NAPTP MLP INVESTOR CONFERENCE – LRR Energy LP – slide 17
    Appendix Summary Organization Lime Rock Management LP 100% Class A Member Interest LRE GP, LLC Lime Rock Resources (LRR) Incentive Distribution Rights Fund I Common Units Subordinated Units 0.1% GP Interest 52.4% LP…

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