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ENERCOM OIL AND GAS CONFERENCE – Atlas Energy, L.P

Atlas Energy, L.P · Aug 19, 2014 · 36 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. ENERCOM OIL AND GAS CONFERENCE – Atlas Energy, L.P – slide 1
    EnerCom Oil & Gas Conference August 19, 2014
  2. ENERCOM OIL AND GAS CONFERENCE – Atlas Energy, L.P – slide 2
    Atlas Organizational Structure Market Capitalization: 2.2B NYSE: ATLS 2.0% GP & 100% IDRs 2.0% GP & 100% IDRs; 28% LP 16% GP & 12% LP 6.0% LP Arc Logistics, L.P. (NYSE: NYSE: APL NYSE: ARP ARCX) 83% GP interest Market…
  3. ENERCOM OIL AND GAS CONFERENCE – Atlas Energy, L.P – slide 3
    Atlas Energy A Different Kind of Company Only MLP with general partner (GP) interests in both E&P and Midstream assets (ARP & APL); distribution growth to ATLS from Incentive Distribution Rights (IDRs) Subsidiaries are self-financed…
  4. ENERCOM OIL AND GAS CONFERENCE – Atlas Energy, L.P – slide 4
    ATLS Distribution Growth 2.50 2.00 CAGR: 50% 1.95 - 2.35 Distribution / Unit 1.50 1.47 1.00 1.01 0.50 0.64 0.00 2011 2012 2013 2014E ATLS distributions have increased substantially over the past several years…
  5. ENERCOM OIL AND GAS CONFERENCE – Atlas Energy, L.P – slide 5
    ARP and APL: Expansion Through Acquisitions Purchase Date Seller Strategic Benefits Price Established nat gas position in March 2012 187MM Barnett Expanded Barnett position; May 2012 193MM founded Ft Worth operating team ARP…
  6. ENERCOM OIL AND GAS CONFERENCE – Atlas Energy, L.P – slide 6
    APL: WestTX Expansion Overview WestTX System Key Producers Geographical Area: Permian Basin In Area Miles of Pipeline: Approx. 3,600 Current Processing Capacity: 455,000 Mcfd Number of Rigs Running: 74 Average Processed Volume…
  7. ENERCOM OIL AND GAS CONFERENCE – Atlas Energy, L.P – slide 7
    APL: WestOK Organic Development Overview WestOK System Geographical Area: Anadarko Basin / Mississippi Lime Key Producers In Area Miles of Pipeline: Approx. 5,700 Processing Capacity: 458,000 Mcfd (nameplate) Number of Rigs…
  8. ENERCOM OIL AND GAS CONFERENCE – Atlas Energy, L.P – slide 8
    ARP Organic Development Highlights Continued focus on increased oil & liquids development Marble Falls: increased oil production by almost 50% from Q1 2014 Mississippi Lime: 35 wells drilled to be turned in line in 2014 Marcellus…
  9. ENERCOM OIL AND GAS CONFERENCE – Atlas Energy, L.P – slide 9
    ATLAS PIPELINE PARTNERS 10
  10. ENERCOM OIL AND GAS CONFERENCE – Atlas Energy, L.P – slide 10
    APL: U.S. Asset Overview 1 Western Oklahoma system 2 Permian system 1 3 Eagle Ford system 4 4 Southern Oklahoma system 2 3 Tulsa Headquarters Gathering & Processing Facility Basin Area NGL and Natural Gas Pipelines Treating…
  11. ENERCOM OIL AND GAS CONFERENCE – Atlas Energy, L.P – slide 11
    APL Asset Overview (cont.) WestOK system: 458 MMcf/d of processing capacity; 5,700 miles of pipeline Services Mississippi Lime region of NW Oklahoma; SandRidge is primary customer WestTX system: 455 MMcd/d of processing capacity…
  12. ENERCOM OIL AND GAS CONFERENCE – Atlas Energy, L.P – slide 12
    ATLAS RESOURCE PARTNERS 13
  13. ENERCOM OIL AND GAS CONFERENCE – Atlas Energy, L.P – slide 13
    ARP: Advantaged Business Model Expand and diversify production base through acquisition of mature, long-lived properties 2.0 billion in acquisitions since March 2012 Diversified asset base offers operating scale and significant…
  14. ENERCOM OIL AND GAS CONFERENCE – Atlas Energy, L.P – slide 14
    ARP Producing Assets & Drilling Activity ARP Asset Summary 1.5 Tcfe proved reserves (1) 68% gas 66% developed 280 Mmcfe/d net production 87% gas Current ARP Drilling Activity Marble Falls: 2 rigs Mississippi Lime: 3…
  15. ENERCOM OIL AND GAS CONFERENCE – Atlas Energy, L.P – slide 15
    Sector Leading Growth ARP has executed on its growth strategy to drive substantial production and distribution increases Production(Mmcfe/d) Quarterly Distributions (/unit) 300 0.65 250 0.60 261 200 646% 0.55 48% 0.59 150 0.50…
  16. ENERCOM OIL AND GAS CONFERENCE – Atlas Energy, L.P – slide 16
    ARP: Demonstration of Structural Advantages Organic Production Growth Drilling Operations Increased oil production 30% Drilling focus on high margin sequentially in Q2 2014 MS Lime liquids rich areas and high-yielding Marble Falls…
  17. ENERCOM OIL AND GAS CONFERENCE – Atlas Energy, L.P – slide 17
    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…
  18. ENERCOM OIL AND GAS CONFERENCE – Atlas Energy, L.P – slide 18
    Fee-Based Partnership Business Model Value to Atlas Resource Partners Value to Drilling Partners Upfront fees from fundraising; 15% over Substantial 1st year tax deduction (90- costs paid by partners 100% of investment) against…
  19. ENERCOM OIL AND GAS CONFERENCE – Atlas Energy, L.P – slide 19
    20
  20. ENERCOM OIL AND GAS CONFERENCE – Atlas Energy, L.P – slide 20
    APPENDIX I: ATLS 21
  21. ENERCOM OIL AND GAS CONFERENCE – Atlas Energy, L.P – slide 21
    Arkoma Detail Acquired by Atlas Energy Kansas Missouri 106,600 net acres with 63% average working interest 97% operated Q2 2014 average production of 11.7 Oklahoma Arkansas Mmcfe/d 39 Bcfe of proved reserves(1), 100% PDP…
  22. ENERCOM OIL AND GAS CONFERENCE – Atlas Energy, L.P – slide 22
    APPENDIX II: ARP SEGMENT 23
  23. ENERCOM OIL AND GAS CONFERENCE – Atlas Energy, L.P – slide 23
    Geographic Diversification ARP has robust geographic coverage operations in 17 states Scale of operations creates opportunities for add-on acquisitions and organic expansion Q1 2012 Production Pro Forma Q2 2014 Production Other…
  24. ENERCOM OIL AND GAS CONFERENCE – Atlas Energy, L.P – slide 24
    Cash Flow Stability Total Company Gross Margin Natural Gas Hedge Positions (1) 4.23 - Unhedged Partnership 60.0 5.13 4.70 4.62 Production Fee Margin 4.60 50.0 4.53 Margin 17% Average Swap Price (/mcf) 19% 4.50 Volume…
  25. ENERCOM OIL AND GAS CONFERENCE – Atlas Energy, L.P – slide 25
    Benefits of the Rangely Acquisition Predictable cash flow stream from high margin production Long-lived, low-decline production further stabilizes overall production decline Oil/NGL production adds strong cash flow and…
  26. ENERCOM OIL AND GAS CONFERENCE – Atlas Energy, L.P – slide 26
    Rangely Summary An Ideal Asset 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…
  27. ENERCOM OIL AND GAS CONFERENCE – Atlas Energy, L.P – slide 27
    Mississippi Lime Overview 20,000 net acres in the core of the Mississippi Lime play in northwestern OK Alfalfa, Grant and Garfield counties; oil & liquids rich portion of the play; HBP by Hunton production ARP Position Drilled 39…
  28. ENERCOM OIL AND GAS CONFERENCE – Atlas Energy, L.P – slide 28
    Marble Falls Overview 88,000 net acres primarily concentrated in Jack County, Texas Liquids rich production and drilling Marble Falls Position opportunities Drilled 106 wells to date with 96 turned in line Barnett Identified…
  29. ENERCOM OIL AND GAS CONFERENCE – Atlas Energy, L.P – slide 29
    Utica & Marcellus Shale Positions Pennsylvania ARPs Utica acreage Lycoming County positions Lundy Rhodes Oil & Wet Gas Wet Dry Gas Gas Utica Shale Marcellus Shale Legacy Ohio operations include over 2,500 3,000 net…
  30. ENERCOM OIL AND GAS CONFERENCE – Atlas Energy, L.P – slide 30
    Raton / Black Warrior (EP Assets) Stable producing, shallow decline assets with low operating costs Assets include gathering systems Q2 2014 production of 108.2 MMcf/d Raton Black Warrior County Line WY CO NM Taos…
  31. ENERCOM OIL AND GAS CONFERENCE – Atlas Energy, L.P – slide 31
    APPENDIX III: APL SEGMENT 32
  32. ENERCOM OIL AND GAS CONFERENCE – Atlas Energy, L.P – slide 32
    APL Fixed-Fees Up Considerably in Recent Years Pre-Elk City & LMM Sale (3Q 2010)* Current 4Q 2013 Contract Mix* Expected YE 2014 Contract Mix* Keep-Whole: 1% Fixed Keep- Fee Keep- Whole 17% Whole Fixed 13% Fixed 32% Fee Fee Percent…
  33. ENERCOM OIL AND GAS CONFERENCE – Atlas Energy, L.P – slide 33
    APL Hedging Overview Executing on Risk Management Strategy, including targeting up to 80% of value protection for the next 12 months 68% margin coverage for remaining 2014, 50% for 2015, and 13% for 2016 Continuing to add to…
  34. ENERCOM OIL AND GAS CONFERENCE – Atlas Energy, L.P – slide 34
    SouthTX Update Overview SouthTX System Map Geographical Area: Eagle Ford Shale Miles of Pipeline: Approx. 500 Processing Capacity: 400,000 Mcfd Joint Venture Partner*: TexStar Avg. Processed Volume (mcf/d) Fixed Fee 95% 5%…
  35. ENERCOM OIL AND GAS CONFERENCE – Atlas Energy, L.P – slide 35
    SouthOK Update (Velma & Arkoma) SouthOK Overview SouthOK System Geographical Area: Woodford Shale/Arkoma/SCOOP Miles of Pipeline: Approx. 1,300 Processing Capacity: 500,000 Mcfd (gross)1 Number of Rigs Running: 20 SouthOK Average…
  36. ENERCOM OIL AND GAS CONFERENCE – Atlas Energy, L.P – slide 36
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