Investor Presentation William J. Scarff August 19-20, 2015 Robert L. Stillwell, Jr. President VP & CFO www.memorialpp.com
Overview of Memorial Production Partners LP Diverse portfolio of mature, long-lived producing properties Assets in East Texas / North Louisiana, Rockies, California, South Texas and Permian Strategy of growing and maintaining…
MEMP Diverse, Long-Lived Assets (1) Total Partnership Proved Reserves (Bcfe) 1,701 % Proved Developed 57% California Proved Reserves (MMBbls) 12.5 % Liquids Reserves 56% % Oil Reserves 100% 2Q15 Avg. Production (MMcfe/d) 247.8…
Acquisition Strategy Drives Growth & Diversification Acquisitions Since IPO Came From a Variety of Sources Proved Reserves (1) Net Production (1) Purchase Price (1) Date Announced Transaction Structure Location (Bcfe) (MMcfe/d) (MM)…
Strong, Aligned Sponsor Further Supports Growth Sponsorship Allows for Growth NGP Funds Third Party Acquisitions MRD Holdco LLC Joint Bid with MRD Memorial Resource Development Corp. (NASDAQ: MRD) 50% IDR 100% interest…
East Texas / North Louisiana: Diversity and Upside Asset Overview Asset Location Key Fields: Joaquin, Carthage, Willow Springs and East Henderson fields Primary Formations: Cotton Valley, Travis Peak Estimated Net Proved Reserves:…
Rockies: Concentrated, Long-Lived Assets Asset Overview Asset Location Key Fields: Lost Soldier and Wertz in Sweetwater and Carbon Counties, WY Properties discovered in the early 1900s; began secondary recovery in the 1970s and…
South Texas: Stable Production with Liquids Asset Overview Asset Location Eagle Ford acreage position in the core of the Eagle Ford play in Karnes County Area recognized as the volatile oil window Eagle Ford Producing Wells: 175…
California: Significant Original Oil in Place Asset Overview Asset Location Los Angeles Beta Field Long Beach Located 11 miles offshore Port of Long Beach, California Ellen and Elly Huntington Beach Eureka 2 wellhead platforms…
Permian Basin: Long-Lived Oil Asset Overview Asset Location Key Fields: Anita, Atoka, Dimmitt, Elkhorn, Kingdom Abo and North Square Lake Primary Formations: Abo Reef, Cherry Canyon, Clearfork and Palo Pinto Estimated Net Proved…
Conservative Financial Strategy Credit facility availability of 642 million as of July 31, 2015 provided by a Preserve Financial 1.3 billion borrowing base Flexibility Expect to fund acquisitions on a conservative debt / equity basis…
MEMP Hedging Overview: 3Q15 through 2019 MEMPs commodity risk management policy provides for hedging approximately 65-85% of estimated production from total proved reserves on a rolling three to six year period Policy reduces MEMPs…
Fiscal Year 2015 Guidance (1) FY 2015 Guidance as of August 5, 2015 2015 FY Guidance August 5, 2015 Low High Net Average Daily Production Oil (MBbls/d) 10.9 - 11.5 NGL (MBbls/d) 8.0 - 8.3 Natural Gas (MMcf/d) 135 - 141 Total…
Safety, Growth and Returns High quality assets MLP-appropriate asset profile Strong sponsorship with aligned interests Clear and achievable growth strategy Seasoned management team Cash flow visibility and security 17
Appendix
Cash Margin Per Mcfe Six Months Ended 6/30/2015 Net production volumes Oil (MBbls) 2,035 NGLs (MBbls) 1,391 Natural gas (MMcf) 24,703 Total (MMcfe) 45,246 Average net production (MMcfe/d) 250.0 Average sales prices before…
Low Development Costs Maximize Margins Identified Production Replacement Project Types PDNP + PUDs PUDs Only Control and reduce costs through low-risk drilling, recompletions 860 Bcfe Total 731 Bcfe Total and operational enhancements…
MEMP Reserve Details(1) Oil Gas NGLs Total % of Proved MBBL MMCF MBBL MMCFE % PDP 47,187 377,540 30,135 841,477 49% PDNP 7,484 43,310 6,803 129,031 8% PUD 45,746 326,210 21,684 730,787 43% Total Proved 100,418 747,060 58,622…
2015 Adjusted EBITDA & Distributable Cash Flow Guidance Reconciliation Mid-Point For Year Ended (in millions) 12/31/2015 Calculation of Adjusted EBITDA: Net income 33 Interest expense 108 Depletion, depreciation, and…
Use of Non-GAAP Financial Measures Use of Non-GAAP Financial Measures. This presentation includes the non-GAAP financial measures of Adjusted EBITDA and Distributable Cash Flow. The accompanying schedules provide a reconciliation of these…
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