Commodity and Interest Rate Hedging Overview November 5, 2014 The following information is current as of November 5, 2014. Memorial Production Partners LP (MEMP) intends to update this information quarterly to the extent there are…
MEMP Hedging Overview: Q4-2014 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 Q4-2014 through 2019 MEMPs existing natural gas hedges cover approximately 94% of targeted natural gas production volumes in Q4-2014 at a weighted average price of 4.41 100% of MEMPs natural gas hedges are to the…
Crude Oil Hedging Q4-2014 through 2019 MEMP has hedged approximately 87% of targeted crude oil production volumes in Q4-2014 at a weighted average price of 94.85 MEMPs California production is hedged using Brent swaps, whereas MEMPs…
NGL Hedging Q4-2014 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…
Natural Gas and NGL Hedges: Q4-2014 through 2019 Natural Gas / NGLs Hedge Summary Year Ending December 31, 2014 2015 2016 2017 2018 2019 Natural Gas Derivative Contracts: Swap contracts: Volume (MMBtu) 8,100,600 32,223,340…
Natural Gas Basis Hedges: Q4-2014 through 2019 Basis Hedge for Natural Gas Year Ending December 31, 2014 2015 2016 2017 2018 2019 NGPL TexOk Gas Differential Total natural gas volumes hedged (MMBtu) 6,780,000 27,360,000 25,240,000…
Crude Oil Basis Hedges: Q4-2014 through 2019 Basis Hedge for Crude Oil Year Ending December 31, 2014 2015 2016 2017 2018 2019 Midway-Sunset Differential Total crude oil volumes hedged (Bbl) 180,000 690,000 660,000 Total crude oil…
Interest Rate Hedging Overview: Q4-2014 through 2017 As of November 5, 2014, MEMP has entered into the following interest rate derivative hedging transactions as it relates to the debt outstanding under its revolving credit facility…
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