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Citi MLP Midstream Infrastructure Conference – EV Energy Partners Lp

EV Energy Partners Lp · Aug 17, 2016 · 16 slides

Investor presentation from the Shale Experts oil & gas presentation and slide database. Every page is imaged and its text indexed for search across operators, plays, basins and time.

Slides

  1. Citi MLP Midstream Infrastructure Conference – EV Energy Partners Lp – slide 1
    EV Energy Partners, L.P. Citi MLP/Midstream Infrastructure Conference August 17, 2016
  2. Citi MLP Midstream Infrastructure Conference – EV Energy Partners Lp – slide 2
    EVEP Overview Upstream MLP created in September 2006 Experienced General Partner (GP) Ownership EnerVest & Management (76.25%) EnerVest established in 1992 EnCap (23.75%) EnCap established in 1988 49.1 million outstanding units…
  3. Citi MLP Midstream Infrastructure Conference – EV Energy Partners Lp – slide 3
    Relationship with EnerVest EnerVest Private Equity Funds Proved Reserves: 5.0 Tcfe (1) Daily Production: Over 700 Mmcfe (2) Advantages for EVEP Dropdown capability Asset concentration Along-side acquisitions EnerVest P.E.…
  4. Citi MLP Midstream Infrastructure Conference – EV Energy Partners Lp – slide 4
    Long-lived, Diverse Asset Base Total Proved Reserves: 1,097 Bcfe* Percent Developed: 83% Michigan Proved Reserves: 88 Bcfe Percent Natural Gas: 68% 1HQ16 Production: 15.8 Mmcfe/d 1H16 Production: 201.5 Mmcfe/d Reserve-Life Index: 15…
  5. Citi MLP Midstream Infrastructure Conference – EV Energy Partners Lp – slide 5
    2015 YE Reserves & 2016 Capital Budget 2015 Year-end Reserves: 2016 E&P Capital: 1,096.7 Bcfe 10 18 Million Monroe Permian 3% 2% Central Texas Barnett 6% 46% Other Michigan 20% 8% Barnett 53% Appalachia 18% San Juan/ San…
  6. Citi MLP Midstream Infrastructure Conference – EV Energy Partners Lp – slide 6
    Barnett Shale (EVEP 31% Ownership) Top 5 producer (including EnerVest institutional fund ownership) 2015 YE reserves: 497 Bcfe 1H16 EVEP production: 80 Mmcfe/d 72% natural gas, 27% NGL, 1% crude oil Plan to complete 10 wells…
  7. Citi MLP Midstream Infrastructure Conference – EV Energy Partners Lp – slide 7
    Appalachian Basin & Michigan Appalachian Basin 2015 YE reserves: 200 Bcfe 53% natural gas, 45% crude oil, 2% NGL 1H16 production: 45 Mmcfe/d Clinton horizontal drilling upside Utica acreage upside Michigan 2015 YE reserves: 88…
  8. Citi MLP Midstream Infrastructure Conference – EV Energy Partners Lp – slide 8
    San Juan Basin 2015 YE reserves: 143 Bcfe 67% natural gas, 30% NGLs, 3% crude oil 1H16 production: 19 Mmcfe/d Net of 5.1 Mmcf/d third party VPP* Mancos/ Gallup formation upside Pre-Acq. EVEP Properties Properties…
  9. Citi MLP Midstream Infrastructure Conference – EV Energy Partners Lp – slide 9
    Austin Chalk EV Chalk Acreage Increased ownership in EV Chalk Wells EVEPs existing position in the Austin Chalk (10/1/15) 2015 YE Reserves: 69 Bcfe 40% natural gas, 30% NGLs, 30% crude oil 1H16 Production: 18 Mmcfe/d Eagle…
  10. Citi MLP Midstream Infrastructure Conference – EV Energy Partners Lp – slide 10
    Action Steps in Lower Commodity Price Environment Raised 769mm of capital by monetizing our Utica midstream investments and a portion of our Eagle Ford formation rights In June 2015, sold 21% interest in UEO (Utica processing and…
  11. Citi MLP Midstream Infrastructure Conference – EV Energy Partners Lp – slide 11
    Action Steps in Lower Commodity Price Environment Recently amended senior secured credit facility, which reduced the borrowing base, eased leverage covenants until 2018 and added an interest coverage ratio Borrowing based reduced…
  12. Citi MLP Midstream Infrastructure Conference – EV Energy Partners Lp – slide 12
    Recent Amendment to Credit Facility Recent amendment to our credit facility, among other things, decreased the borrowing base from 625mm to 450mm Amended leverage covenants and added an interest coverage ratio: FY2016 FY2017…
  13. Citi MLP Midstream Infrastructure Conference – EV Energy Partners Lp – slide 13
    2016 Guidance ( in millions) Full Year 2016 Net Production Natural Gas (Mmcf) 47,670 - 52,685 Crude Oil (Mbbls) 1,220 - 1,345 Natural Gas Liquids (Mbbls) 2,230 - 2,465 Total Mmcfe 68,370 - 75,545 Average Daily Production…
  14. Citi MLP Midstream Infrastructure Conference – EV Energy Partners Lp – slide 14
    Capital Structure ( millions) 6/30/16* Bank Debt 280 Senior Notes Due 2019 343 Equity Market Capitalization 120 Enterprise Value 743 Note: Equity market capitalization based on unit price at August 12, 2016. *Includes the…
  15. Citi MLP Midstream Infrastructure Conference – EV Energy Partners Lp – slide 15
    Commodity Hedging For 2016, recently added swaps for 14 Mmcf/d of nat gas (May to Dec) and 3.0 Mbbl/d of crude (May to Sep) For 2017, recently added swaps for 30 Mmcf/d of nat gas (Jan to Dec) and costless collars for 30 Mmcf/d of…
  16. Citi MLP Midstream Infrastructure Conference – EV Energy Partners Lp – slide 16
    Strategy Going Forward Focus on managing and enhancing base business Operating and capital cost reductions Maintain strong liquidity position to manage through current environment Will be assessing appropriate distribution levels…

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