Investor Presentation May 12017 www.ricemidstream.com
RMP Adjusted EBITDA and DCF Reconciliation Year Ended Year Ended Three Months Ended Twelve Months Ended ( in thousands) December 31, 2015 December 31, 2016 March 31, 2017 March 31, 2017 Reconciliation of Net Income to RMP Adjusted…
Non-GAAP Reconciliations RICE Adjusted EBITDAX Reconciliation RMH Adjusted EBITDA Reconciliation Three Months Ended Twelve Months Ended Three Months Ended Twelve Months Ended ( in thousands) March 31, 2017 March 31, 2017 ( in…
RMP Strategy Invest in the Core Provide Excellent Customer Service Maintain a Strong, Conservative Balance Sheet Leverage Sponsor for Growth Visibility Drive Excellence through Innovation and Stewardship Top-Tier Distribution…
Rice Midstream Partners Overview Ticker Symbol NYSE: RMP Headquarters Canonsburg, PA NYSE: RICE IPO date December 2014 Rice Midstream Holdings LLC Market cap 2.6B (RMH) Enterprise value 2.7B OH Gathering and GP Holdings RMP GP…
The Premier Appalachian Energy Company Integrated Business Drives Low-Risk, Economic Growth RICE MIDSTREAM RICE UPSTREAM PA PARTNERS OH (E&P) Core dry gas dedication: 218,000 WV 252,000 core acres in Marcellus and acres from…
RMP: Core System and Execution Drives High Growth PA OH Significant RMP Adj. EBITDA Growth(1) (MM) WV Washington 193 Belmont Water 43 Greene Gathering & Legend Compression RICE Acreage RMP Gathering RMP Water…
Premier Appalachian MLP Peer 1 Peer 2 Peer 3 Peer 4 20%+ 2017E Distribution Growth 1.35x 2017E DCF…
Building Track Record of Strong Growth and Execution ADJUSTED EBITDA(1) (MM) THROUGHPUT (MDTH/D) WATER VOLUMES (MMGAL) 2017E 20% Annual Growth 193 2017E 40% Annual Growth 1,348 Estimating 1,375 MMGal in 2017 1,235 158 1,375 983…
Unparalleled Midstream Growth RICE has positioned itself as the premier Appalachian core dry gas midstream player 1Q 2017 throughput of 2,204 MDth/d through RMH and RMP midstream systems RMP System: 1,235 MDth/d (19% 3rd Party) RMH…
RMP 3rd Party Dedications from Top Operators in the Basin High quality 3rd party operators with active 2017E development programs and healthy returns Expect 20% of EQT is primary 3rd party customer and is a 2017 throughput technical…
Water Business Complementary to Core Gathering & Compression Business 1. Source freshwater 3. Provide freshwater 4. Recycle produced from rivers and other 2. Pump freshwater services to pads for water onsite and/or local sources in…
RMH: Core Utica Gathering Systems with High Growth 166,000 dedicated acres with 70% from high quality 3rd party customers PA ROM: 100% owned gathering and compression system in OH Central Belmont WV Belmont Dedication from RICE and…
Midstream: Differentiated Value Proposition RICEs midstream has operational and financial advantages which creates significant shareholder value Greater than 3B of projected midstream value Operational Advantages Midstream control…
RMP Well Positioned for Continued Strong Growth Core Midstream Footprint and Prolific Organic Growth 218,000 acres dedicated from some of the most active operators in SW Appalachia Well positioned to deliver 2017 expected 20%…
Rice Energy Overview 18 www.ricemidstream.com
100% Core E&P Appalachia Portfolio with Consistent, Attractive Returns Net Locations and IRRs (1)(2) Pennsylvania 1,200 1,102 90% 1,000 92% 861 85% Ohio 800 72% 60% 600 Utica 400 30% 65,000 net acres 19% 194 Marcellus…
Proven, Repeatable Well Design Drives Industry-Leading Results RICEs industry-leading well results are evident in 1-4 year cumulative production per well 100% of RICEs expected future Appalachian activity is focused within its…
Significant Cost Structure Improvements and Still Declining Lowest cost structure in the peer group with expected improvement from increased scale RICE CONSOLIDATED OPERATING COSTS (/MCFE) 2017E COST STRUCTURE VS. PEERS (/MCFE) Cost…
Upstream: 2017 2019 D&C Capital and Production Outlook Targeting Appalachia net production CAGR(1) of 27% - 33% in 2017 2019 Targeting cash flow neutrality(2) in 2019, while maintaining E&P…
Highly Visible Cash Flow Growth and Strong Balance Sheet Table is set for projected RICE production growth to 2 Bcfe/d and peer-leading cash flow per share growth RICE E&P leverage well below peer average of 2.4x and consistent with…
Healthy Balance Sheet Protected by Strong Hedge Book LOW LEVERAGE(1) HEDGE SUMMARY Strong balance sheet across enterprise 92% of 2017E production hedged at 3.15/MMBtu NYMEX Expect to exit 2017 at 1.5x E&P leverage vs. peer average(2)…
Attractive Single Well Economics RICE continues to drive down D&C and operating costs to maximize returns Inventory currently generates 95% returns at strip; HHUB PV-10 breakevens of 1.75 HHUB(1) DRY GAS SINGLE WELL ECONOMICS…
RMP Investment Highlights Top-tier gas gathering and compression assets + water services assets in Appalachian core Strategically Located 100% core acreage dedications consisting of 218,000 Marcellus acres in PA Midstream Assets…
Appendix 27 www.ricemidstream.com
RMP and RICE Market Snapshot Rice Midstream Partners LP Rice Energy Inc. (NYSE: RMP) (NYSE: RICE) (millions, except per unit data) (millions, except per share data) Common Units 73 Management Ownership 15% Subordinated Units 29…
RICE and RMP Organizational Structure EIG Managed Funds 1.45B E&P Borrowing Base NYSE: RICE 100% Series B Preferred Equity (375MM invested) Rice Midstream DE 300MM Credit Facility + Rice E&P Holdings LLC 100MM Accordion Feature…
Meaningful Takeaway Capacity Expected to Outpace Supply Growth Expect 18 Bcf/d incremental takeaway capacity in-service by 4Q19 to provide significant improvement in 2018+ local pricing 9 Bcf/d of expected takeaway received FERC…
2017 Detailed RMP Guidance RMP Guidance 2 0 1 7 C a p i t a l Bu d g e t ( i n m i l l i o n s ) Gas Gath e rin g an d Co mp re ssio n 255 Wate r Se rvice s 060 To ta l RMP 315 Est. Main te n an ce Cap ital ( in millio n s) 18…
2017 Detailed RICE Guidance E&P Guidance RMH Guidance(1) Net Wells Spud Online Net Production (MMcfe/d) 2017 C ap i t al Bu d g e t ( i n m i l l i o n s ) Operated Marcellus 75 55 Appalachia 1,205 - 1,265 Gas Gathe ring and Compre ssion…
Additional Disclosures Determination of Identified Drilling Locations as of December 31, 2016: Net undeveloped locations are calculated by taking our total net acreage, subtracting producing acreage, and multiplying such amount by a…
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