Recent Company Updates RMP Throughput Guidance Slide 6 Leverage and Liquidity Slide 9 2 www.ricemidstream.com
RMP: High Growth MLP in Prolific Appalachian Basin DRY NATURAL GAS GATHERING & COMPRESSION SERVICES Legend RMP Gathering Pipeline Strategically located midstream assets RMP Gathering Pipeline to be Constructed Beaver 100% of…
Integrated Water Services Business MIDSTREAM FRESH WATER SERVICES Fresh water distribution systems & related facilities servicing Carroll Beaver Allegheny Marcellus and Utica completion operations in PA and OH Access to 18 MMGPD of…
RMP Investment Highlights Top-tier gas gathering and compression assets + water services assets in Appalachian core Strategically Located 100% core acreage dedications consisting of 114,000 Marcellus acres in PA Midstream Assets…
Building Track Record of Strong Organic Growth EBITDA (MM) THROUGHPUT (MDTH/D) DROP DOWNS & FINANCINGS (MM) 80% Annual 30% Annual 850 835 1.3B Future Drop 1,300 Growth(1) 115 Growth(1) Down potential 647 64 391 42 175 17 16 19…
Industry-Leading Throughput Growth 1Q 2016 throughput of 1,289 MDth/d through RMH and RMP midstream systems (39% 3rd Party) RMP System: 835 MDth/d (26% 3rd Party) RMH System: 454 MDth/d (63% 3rd Party) RMP AND RMH HISTORICAL…
RMP 3rd Party Dedications from Top Operators in the Basin OVERVIEW Legend RMP Gathering Pipeline High quality 3rd party operators with active development RMP Gathering Pipeline Beaver to be Constructed programs and healthy returns…
Prolific Assets and Strong Balance Sheet SUMMARY LEVERAGE(1) Ample Liquidity: 301MM of total liquidity to fund remaining 1Q16 Net Debt / LTM EBITDA 2016 Net Debt / LTM EBITDA Target 2016 capex of 118MM 3.5x 3.0x Strong Balance Sheet:…
RMP First Quarter 2016 Financial Summary Solid first quarter results supported by strong throughput growth, well capitalized balance sheet and ample liquidity FINANCIAL SUMMARY DISTRIBUTIONS First quarter average daily throughput of 835…
Attractive Drop Down Potential Ohio Utica LARGE SCALE GATHERING SYSTEMS TO SUPPORT UTICA DEVELOPMENT Legend Ohio Gathering Pipeline 146,000 dedicated core gross acres in Belmont and Monroe Ohio Gathering Pipeline to be Constructed…
RMP Well Positioned to Navigate Environment Core Midstream Footprint and Prolific Organic Growth 114,000 acres(1) dedicated from the most active operators in SW Appalachia; a 33% increase since IPO in Dec. 2014 Strong 2016 expected…
RICE Overview 13 www.ricemidstream.com
Concentrated Core Upstream Assets Premier E&P Company in the Lowest Cost Gas Shale Plays 100% of assets located in the cores of the Marcellus and Utica Valuable production base of 675 MMcfe/d (1.2B PD + Hedge PV10)(1) 55-75% single…
Track Record of Low-Cost Growth MARCELLUS D&C COSTS (/FT.) UTICA D&C COSTS (/FT.) E&P PER UNIT CASH COSTS (/MCFE)(1) 1,507 2,588 1.80 1,269 0.44 1.50 1,218 1,150 1.34 1,715 1.23 925 0.43 1,450 1,380 0.38 0.34 0.23 0.38 0.38…
Healthy Balance Sheet Protected by Strong Hedge Book SUMMARY HEDGE SUMMARY Ample Liquidity: 1.5B of total liquidity(1)(2) consisting of 1.2B Hedged Volume Avg. Wtd. Fixed Price HHUB Strip BBtu/d /MMBtu of E&P liquidity and 330MM of…
Attractive Single Well Economics RICE continues to drive down D&C and operating costs to maximize returns Inventory currently generates 65% returns at strip; HHUB PV10 breakevens of 2.00 HHUB(1) DRY GAS SINGLE WELL ECONOMICS 150%…
First Quarter 2016 Operational Highlights MARCELLUS OPERATIONAL HIGHLIGHTS UTICA OPERATIONAL HIGHLIGHTS Turned to sales 9 gross (9 net) Marcellus wells in 1Q16 Leading edge Utica costs of 1,380 per lateral foot for 8 Avg. lateral…
RICE First Quarter 2016 Consolidated Financial Summary Solid first quarter results supported by well-capitalized balance sheet and ample liquidity QUARTERLY HIGHLIGHTS CAPITALIZATION AT 3/31/2016 Three Months Ended Net production…
Executing the Most Efficient Program in Appalachia: 1 Bcf/d From 180 Wells Our unmatched efficiency is a byproduct of focusing on maximizing the value of every well we drill Gross Operated Production Gross Operated Production vs.…
Differentiated Long-Term Production Differentiation of RICE wells is evident in 1-3 year cumulative production per well. 100% of RICE future activity is focused within our proven concentrated acreage positions in the Marcellus + Utica…
Right-Sized Firm Transport Portfolio Growing Exposure to an Improving Local Basis Market Right-Sized: FT covers 80% of 2016 takeaway volumes. FT coverage decreases to 60% in 2020. Right Exposure: 30% of 2016 gas exposed to local…
Appendix 23 www.ricemidstream.com
RMP and RICE Market Snapshot Rice Midstream Partners LP (1) Rice Energy Inc. (1) (NYSE: RMP) (NYSE: RICE) millions, except per unit data millions, except per share data Common Units 42 Management Ownership 25% Subordinated Units 29…
RICE and RMP Organizational Structure 875MM Borrowing Base(1) EIG Managed Funds 100% Series A Common Equity 100% Series B Preferred Equity DE (375MM invested) Rice Midstream 300MM Credit Facility + 8.25% common Holdings LLC…
Significant Unrealized Midstream Value Embedded Within RICE Track record of crystalizing midstream value Significant value creation on the horizon 1B of midstream monetizations and financings executed to date(1) RMH Current and Future…
Midstream System Statistics Pennsylvania Ohio RMP Gathering and Compression Statistics Gathering and Compression Statistics Assets Design Gathering Capacity (MMDth/d) 4.0 Design Gathering Capacity (MMDth/d) 2.0 YE15 YE16 YE15 YE16…
RMP Gathering and Water System Build-out RMPs midstream system has grown significantly since 2013 SUMMARY 2012 2013 PA gathering system oversized to accommodate future growth and emerging PA Utica potential Mileage: 128 miles by YE16…
Western Greene County Midstream Update Renegotiated midstream agreement substantially improves RICE well economics in Greene County Development area located in western Greene County, PA in the heart of the Marcellus dry gas core and…
2016 RICE and RMP Guidance E&P (1) D&C & Land Capital Expenditures Net Wells Turned to Sales(2) Average Net Daily Production MM Wells 54 MMcfe/d 830 49 800 900 50 720 800 740 43 700 12 700 115 640 40 7 27 600 552 545 250 600 80…
2016 Detailed Guidance RMP 2016 GUIDANCE(1) RICE 2016 GUIDANCE(1) Guidance Guidance Guidance 2016 Capital Budget ( in millions) Net Wells Spud Online Total Net Production (MMcfe/d) 700 - 740 Gas Gathering and Compression 140 Operated…
Marcellus and Utica Single Well Type Curves MARCELLUS SINGLE WELL TYPE CURVE Restricted Rate Marcellus 12.0 EUR (Bcf / 1,000') 2.16 10.0 Lateral Length 7,000 EUR (Bcf) 15.1 8.0 Interwell Spacing (ft) 750 MMcf/d Choke (MMcf/d…
Pennsylvania Utica: A Natural Extension for Rice The Utica core extends directly underneath RICEs Pennsylvania assets. Initial RICE and Industry wells point to massive resource potential. OH WV PA Guernsey Belmont Marshall Washington /…
RMP 1Q 2016 Adjusted EBITDA and DCF Reconciliation Three Months Ended ( in thousands) March 31, 2016 Adjusted EBITDA reconciliation to loss from continuing operations: Net income 34,426 Interest expense 1,047 Acquisition costs 73…
RICE 1Q 2016 Adjusted EBITDAX Reconciliation Three Months Ended ( in thousands) March 31, 2016 Adjusted EBITDAX reconciliation to net income (loss): Net income 3,305 Interest expense 24,521 Depreciation, depletion and amortization…
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