BAML 2014 Global Energy Conference November 13, 2014 William J. Scarff Robert L. Stillwell, Jr. President VP, Finance www.memorialpp.com
Overview of Memorial Production Partners LP Diverse portfolio of mature, long-lived producing properties Assets in East Texas / North Louisiana, Rockies, Permian, South Texas and California Strategy of growing and maintaining…
MEMP Diverse, Long-Lived Assets (1) Total Partnership Proved Reserves (Bcfe) 1,583 % Proved Developed 61% California Proved Reserves (MMBbls) 14.3 % Liquids Reserves 61% % Oil Reserves 100% PF 3Q14 Production (MMcfe/d) 211.5…
Acquisition Strategy Drives Growth & Diversification Acquisitions Since IPO Proved Reserves (1) Net Production (1) Purchase Price (1) Date Announced Transaction Structure Location (Bcfe) (MMcfe/d) (MM) November 2014 MRD Drop Dow n…
Strong, Aligned Sponsor Sponsorship Allows for Growth NGP Funds Third Party Acquisitions MRD Holdco LLC (1) 52.1% Joint Bid with MRD Memorial Resource Development Corp. (NASDAQ: MRD) 100% Acquisitions from NGP 6.2%…
East Texas / North Louisiana: Diversity and Upside Asset Overview Asset Location Key Fields: Joaquin, Carthage, Willow Springs, East Henderson and the Terryville fields Primary Formations: Cotton Valley, Travis Peak Field…
Rockies: Concentrated, Long-Lived Assets Asset Overview Asset Location Key fields: Lost Soldier and Wertz in Sweetwater and Carbon Counties, WY Properties discovered in the early 1900s; began secondary recovery in the 1970s and…
Permian Basin: Long-Lived Oil Asset Overview Asset Location Key Fields: Anita, Atoka, Dimmitt, Elkhorn, Kingdom Abo and North Square Lake Primary Formations: Abo Reef, Cherry Canyon, Clearfork and Palo Pinto Field…
South Texas: Stable Production with Liquids Asset Overview Asset Location Eagle Ford acreage position in the core of the Eagle Ford play in Karnes County Area recognized as the volatile oil window Eagle Ford Producing Wells: 117…
California: Significant Original Oil in Place Asset Overview Asset Location Los Angeles Located 11 miles offshore Port of Long Beach, Long Beach California 2 wellhead platforms each with a permanent drilling Ellen and Elly…
Financial Strategy Liquidity of 1.1 billion provided by a 1.44 billion borrowing base Preserve Financial Flexibility Expect to fund acquisitions on a conservative debt / equity basis over the long term Aim for 65-85% of…
MEMP Hedging Overview: Protected 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…
Steady and Prudent Growth Since IPO Daily Production (MMcfe/d) Reserves (Bcfe) 197 1,583 154 609 67 49 41 324 (1) (2) 2011A IPO Forecast 2012A 2013A 2014E 2011A 2012A PF 2013 Adjusted EBITDA ( in millions)…
Safety, Growth and Returns High quality assets MLP-appropriate asset profile Strong sponsorship with aligned interests Clear and achievable growth strategy Seasoned management team Cash flow visibility and security 16
Appendix
Cash Margin Per Mcfe Nine Months Ended 9/30/2014 (1) Net production volumes Oil (MBbls) 2,056 NGLs (MBbls) 1,498 Natural gas (MMcf) 30,625 Total (MMcfe) 51,946 Average net production (MMcfe/d) 190.3 Average sales prices…
Low Development Costs Maximize Margins Identified Production Replacement Project Types PDNP + PUDs PUDs Only Control and reduce costs through low-risk drilling, recompletions 753 Bcfe Total 620 Bcfe Total and operational enhancements…
MEMP Reserve Details(1) Oil Gas NGLs Total % Gas MBBL MMCF MBBL MMCFE % Proved Developed Producing 51,581 356,636 27,247 829,607 43% Proved Developed Unproducing 8,061 43,730 6,853 133,216 33% Proved Undeveloped 49,548 220,852…
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