BreitBurn Energy Partners L.P. (NASDAQ: BBEP) Investor Presentation San Francisco MoneyShow August 2012
Overview of BreitBurn Energy Partners L.P. Acquisition oriented upstream MLP with long-lived assets and extensive hedge portfolio Focused on acquisition, exploitation and development of oil and gas properties Leverage technical…
Key Operating Attributes Asset Base Mature predictable and low-risk Shallow decline long life with low maintenance capital requirements Balanced between oil and gas Substantial low risk development opportunities Personnel Excellent…
Nationwide Footprint Significant Operations Diversified Among Seven States BREITBURN TOTALS (1) 2011 Avg. Daily Prod. 22,884 Boepd Est. Proved Reserves 151.1 MMBoe % Proved Developed 87% 2011 Avg. Daily Prod. 10,336 Boepd R/P 18…
Core Strategies & YTD Highlights Increase Production and Grow Organically 2011 production increased 5% over 2010 Recently increased 2012 capital spending to approximately 137 million, focused on oil projects in legacy assets and…
Proven Track Record in Acquisitions BreitBurn actively pursues acquisition opportunities that have large amounts of original oil in place and low terminal decline rates, production upside / exploitation potential, and bolt-on…
Significant Financial Flexibility to Fund Acquisitions Debt and Equity Offerings 2012 Borrowing Base Redeterminations Partnership closed a public offering of 9,200,000 April 6, 2012 redetermination increased common units representing…
Recent Acquisition Activity Recent acquisitions totaled 651 million Increased total estimated proved reserves by 56.7 MMBoe Increased total estimated production by 7,300 Boe/d Support distribution growth strategy Announced /…
Recent Acquisitions - Texas Permian Basin, Texas Texas Area of Operations Two separate acquisitions of oil and gas properties, 220 million combined purchase price Closed July 2 Acquisitions give Partnership entry to Permian Basin…
Recent Acquisitions - Wyoming Big Horn Basin, Wyoming Wyoming Area of Operations 93 million purchase price Closed June 28 100% oil Immediately accretive to distributable cash flow Park County 600 Boe/day net production in March…
Utica Collingwood Overview Michigan Stratigraphic Column Utica Collingwood Shale Highlights BreitBurns prospective lease position is over 130,000 net acres (85% is held by production) Acreage is primarily in the wet gas window…
A-1 Carbonate Overview Michigan Stratigraphic Column A-1 Carbonate Highlights The A-1 Carbonate is an extensive, thin bedded, fine grained, organic rich carbonate deposited in a restricted basinal marine setting and is the likely…
A-1 Carbonate Overview BreitBurn acreage MONTMORENCY ALPENA Eastern Antrim Trend Niagaran Reef Trend Conners Marsh Hickey Creek Garfield/Beaver Creek Rose City Boundary of prospective area Emery Lake/Dighton for…
Commodity Price Protection Portfolio: 2012 2017 The Partnership recently exercised oil swaptions to hedge a portion of the expected production associated with the NiMin, Element and CrownRock acquisitions The Partnership also added…
Commodity Price Protection Natural Gas Average Natural Gas Hedge Prices 7.10/mmbtu 5.96/mmbtu 5.05/mmbtu 5.05/mmbtu 4.18/mmbtu 60,000 56,000 53,462 Hedging Volumes (mmbtu/d) 49,500 49,500 50,000 40,000 34,731 30,000…
Mitigating Commodity Price Volatility Our hedge portfolio has significantly mitigated crude oil and natural gas price fluctuations as evident by our quarterly Adjusted EBITDA 66.3 160 64.4 16 62.3 61.6 61.4 60.0 59.1 58.2 140…
Quarterly Distributions Distributions Sequential Distribution Growth Tax advantaged income Nine quarters of consecutive distribution increases since Q1 2010 Nine consecutive quarters of distribution increases since Q1 2010, .50 9%…
Attractive Distribution Yield BBEP has an attractive distribution yield versus its peer group 12.0% 11.3% 11.0% 9.7% 10.0% 8.4% 8.4% 8.3% 7.8% (1) 8.0% 7.4% Distribution Yield 6.0% 5.5% Alerian MLP ETF yield 6.0%…
Investment Highlights High-quality asset base with predictable, long-lived production Experienced management, operating and technical teams Critical mass in large mature basins with geographic, geologic and commodity diversity…
Second Half 2012 Public Guidance ( in 000s) Second Half 2012 Guidance Total Production (Mboe) 4,400 - 4,700 Oil Production (Mbbls) 2,050 - 2,250 Gas Production (MMcfe) 14,100 - 14,700 Average Price Differential %: Oil Price…
Second Half 2012 Public Guidance Notes (1) Represents the expected average price differential to both WTI crude oil and Brent crude oil pricing. Approximately 30% of oil production is expected to be sold based on Brent pricing. (2)…
BreitBurn Energy Partners L.P. (NASDAQ: BBEP) Investor Presentation San Francisco MoneyShow August 2012
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