Commodity and Interest Rate Hedging Overview May 4, 2016 The following information is current as of May 4, 2016. Memorial Production Partners LP (MEMP) intends to update this information quarterly to the extent there are changes…
MEMP Hedging Overview: 2Q16 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…
Natural Gas Hedging 2Q16 through 2019 MEMPs existing natural gas hedges cover approximately 92% of the midpoint of its targeted natural gas production volumes for 2016 at a weighted average price of 4.14 100% of MEMPs natural gas…
Crude Oil Hedging 2Q16 through 2019 MEMP has hedged approximately 82% of the midpoint of its targeted crude oil production volumes for 2016 at a weighted average price of 85.59 MEMPs California production is hedged using Brent swaps,…
NGL Hedging 2Q16 through 2019 Hedging NGLs by product helps protect MEMP from fluctuations in the NGL to crude oil price relationship Due to a lack of market liquidity, direct hedging of NGLs is typically limited to 18 to 24 months…
Natural Gas and NGL Hedges: 2Q16 through 2019 Natural Gas / NGLs Hedge Summary Year Ending December 31, 2016 2017 2018 2019 Natural Gas Derivative Contracts: Swap contracts: Volume (MMBtu) 32,269,475 40,200,800 36,720,000…
NGL Hedges by Component: 2Q16 through 2019 NGLs Hedge Summary by Component Year Ending December 31, 2016 2017 2018 2019 MBV C2 Total NGL volumes hedged (Bbl) 768,000 204,000 Total NGL volumes hedged (Bbl/d) 2,793 559 Total…
Natural Gas Basis Hedges: 2Q16 through 2019 Basis Hedge for Natural Gas Year Ending December 31, 2016 2017 2018 2019 NGPL TexOk Gas Differential Total natural gas volumes hedged (MMBtu) 26,980,000 21,600,000 14,400,000 10,800,000…
Crude Oil Basis Hedges: 2Q16 through 2019 Basis Hedge for Crude Oil Year Ending December 31, 2016 2017 2018 2019 Midway-Sunset Differential Total crude oil volumes hedged (Bbl) 897,000 450,000 Total crude oil volumes hedged (Bbl/d)…
Interest Rate Hedging Overview: 2Q16 through 2018 MEMP has entered into the following interest rate derivative hedging transactions as it relates to the debt outstanding under its revolving credit facility MEMP had interest rate hedges…
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