LRR Energy, L.P. NAPTP Investor Conference May 22, 2013
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…
LRR Energy, L.P. Q1 Review Quarter operational and financial results Production of 5,900 Boe/d EBITDA of 15 million Total distribution coverage of 0.63x Common distribution coverage of 0.85x Quarter was negatively impacted…
LRR Energy, L.P. Property Summary Mid Continent Current Production (Boe/d) 2,337 LRE Total Proved Reserves (MMBoe) 11.4 Current Production (Boe/d) 6,500 % Proved Developed 92% Proved Reserves (MMBoe)(1) 31.7 % Liquids 24% %…
LRR Energy, L.P. Quality Assets Shallow production decline Low Risk, Mature Assets 84% proved developed reserves 13.4 R/P Focused operations and diversified geographically Focused Portfolio Three operating areas with scale…
LRR Energy, L.P. Permian Basin Region Key fields: Red Lake, Pecos Slope, Corral Canyon Proved reserves(1): 17.0 MMBoe (54% of total) Current net production: 3,357 Boe/d (52% of total) R/P Ratio: 13.9 LRE operates 94% of proved…
LRR Energy, L.P. Mid-Continent & Gulf Coast Regions Mid-Continent Summary Overview Gulf Coast Summary Overview Key fields: Potato Hills, East Velma, Key fields: New Years Ridge, GW-Stratton Putnam Proved reserves(1): 3.3 MMBoe…
LRR Energy, L.P. 2013 Capital Budget Capital budget is 30 MM 25 MM allocated to the Red Lake field 37 drill wells, including 25 Red Lake drill wells 17 recompletes, including 15 Red Lake recompletes 1 waterflood pilot project at…
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 33.7 MMBoe of…
LRR Energy, L.P. Lime Rock Resources Growing Inventory of Assets Annual Revenue 180 2 161.5 160 8% Gas 140 120 1 100 93.4 92% Liquids MM 80 23% Gas 60 40 77% Liquids 20 0 LRE LRR 1 2012 Revenue…
LRR Energy, L.P. Conservative Financial Strategy Target total unit coverage of 1.2x Distribution 26% of total units are subordinated Coverage Target debt/Adjusted EBITDA…
LRR Energy, L.P. Hedge Portfolio Natural Gas Hedges 83% of current PDP is hedged through 2017 Assuming flat production(1), total production is hedged 94% in 2013, 73% in 2014, 57% in 2015, 56% in 2016 and 45% in 2017 Average…
LRR Energy, L.P. Investment Highlights Quality Assets Stable, low-risk and predictable properties Operated, primary production and low cost asset portfolio Large internal project inventory Significant Growth Potential Potential…
Loading...
