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QR ENERGY MERGER – Breitburn Energy Partners L.P.

Breitburn Energy Partners L.P. · Jul 24, 2014 · 12 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. QR ENERGY MERGER – Breitburn Energy Partners L.P. – slide 1
    NASDAQ: BBEP BREITBURN ENERGY PARTNERS LP & QR ENERGY LP 7.8 BILLION MERGER FORMING THE LARGEST OIL-WEIGHTED UPSTREAM MLP JULY 24, 2014
  2. QR ENERGY MERGER – Breitburn Energy Partners L.P. – slide 2
    FORWARD LOOKING STATEMENTS ADDITIONAL INFORMATION ABOUT THE PROPOSED TRANSACTIONS AND WHERE TO FIND IT In connection with the proposed transactions, Breitburn intends to file with the SEC a registration statement on Form S-4 that will…
  3. QR ENERGY MERGER – Breitburn Energy Partners L.P. – slide 3
    FORWARD LOOKING STATEMENTS PARTICIPANTS IN THE SOLICITATION Breitburn and QR Energy and their respective directors and executive officers and other members of management and employees may be deemed to be participants in the solicitation…
  4. QR ENERGY MERGER – Breitburn Energy Partners L.P. – slide 4
    TRANSACTION OVERVIEW 0.9856 of a BBEP unit for each unit of QRE (includes Common and Class B Units) CONSIDERATION Subject to maximum of approximately 72mm total BBEP units issued QRE Class C Convertible Preferred units redeemed for…
  5. QR ENERGY MERGER – Breitburn Energy Partners L.P. – slide 5
    STRATEGIC RATIONALE Complementary asset profiles EXCELLENT Predominantly operated, high working interest properties STRATEGIC FIT Similar engineering-centric operating focus High margin oil-weighted properties (67% liquids)(1)…
  6. QR ENERGY MERGER – Breitburn Energy Partners L.P. – slide 6
    TRANSACTION IS ATTRACTIVE TO BOTH PARTIES Benefits to Breitburn Benefits to QR Energy FURTHER DIVERSIFIED ASSET BASE WITH LOW DECLINE, ACCESS TO NEW REGIONS OIL WEIGHTED PROPERTIES New asset base will be more geographically diverse…
  7. QR ENERGY MERGER – Breitburn Energy Partners L.P. – slide 7
    COMBINATION OF GROWING BUSINESSES Distribution per Unit(1) ( / unit) 3.89 3.95 4.00 3.79 3.44 3.00 1.94 2.00 1.85 1.73 2.00 1.00 1.94 1.95 1.95 1.71 0.00 2011 2012 2013 2014E QR Energy Breitburn Estimated Proved…
  8. QR ENERGY MERGER – Breitburn Energy Partners L.P. – slide 8
    SIGNIFICANTLY ENHANCES SCALE VS. PEERS COMBINED SCALE SOLIDIFIES BREITBURNS POSITION IN A SECTOR WHERE SCALE MATTERS 22.0 Enterprise Value(1) (BN) 10.0 9.0 7.8 8.0 7.0 6.0 4.8 5.0 4.2 4.0 3.0 2.9 2.8 2.8 3.0 2.5 2.1 2.0…
  9. QR ENERGY MERGER – Breitburn Energy Partners L.P. – slide 9
    COMPLEMENTARY ASSETS IN ATTRACTIVE PRODUCING AREAS BBEP Properties(1) Wyoming Indiana/Kentucky Michigan Florida QRE Properties(1) 2013 Avg. Daily Production 7,014 Boe/d 2013 Avg. Daily Production 591 Boe/d 2013 Avg. Daily Production…
  10. QR ENERGY MERGER – Breitburn Energy Partners L.P. – slide 10
    ENHANCED DIVERSIFICATION WITH OPTIMIZATION OPPORTUNITIES AVERAGE DAILY PRODUCTION(1) Breitburn QR Energy Combined Florida, 5.4% Michigan, 0.5% Mid-Continent, 7.7% Ark-La-Tex, 13.1% Texas, 11.5% Michigan, 17.1% Michigan, 25.9%…
  11. QR ENERGY MERGER – Breitburn Energy Partners L.P. – slide 11
    LARGEST OIL-WEIGHTED UPSTREAM MLP RESERVE MIX(1) Breitburn QR Energy Combined Gas, 34% Gas, 40% Gas, 23% Oil, 53% NGL, 10% Oil, 58% Oil, 67% NGL, 7% NGL, 8% Source: Company investor presentations (1) Based on BBEP…
  12. QR ENERGY MERGER – Breitburn Energy Partners L.P. – slide 12
    NASDAQ: BBEP BREITBURN ENERGY PARTNERS LP & QR ENERGY LP 7.8 BILLION MERGER FORMING THE LARGEST OIL-WEIGHTED UPSTREAM MLP JULY 24, 2014

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