Quality Assets. Disciplined Management. Investor Presentation March 2018 www.sanchezmidstream.com
Sanchez Midstream Partners Overview Sanchez Midstream Partners Midstream Footprint Market Cap(1) 161 MM Enterprise Value 693 MM (1) u Focused Midstream Operator Midstream assets are focused on Western Eagle Ford acreage u…
Well-Sponsored Partnership Sanchez Oil & Gas Corporation (SOG) 1972 Operations and Technical Support u Private operating platform with 320 employees u Experienced management u Technical and operational expertise u Active business…
Track Record of Distributions Sanchez Midstream Partners Cumulative Distributions u Returned 4.28 per unit to unitholders since the third quarter of 2015 4.50 4.28 4.00 3.82 3.50 3.37 2.93 3.00 2.49 2.50 2.06 2.00 1.64…
Midstream Asset Overview Sanchez Midstreams Integrated Midstream Assets 1. Western Catarina Midstream 200 MMcf/d - Gas capacity 142 MMcf/d - Gas minimum volume commitment 100% owned by SNMP 2. Carnero Gathering Line Transports…
Eagle Ford Shale Drilling Economics Example: South Central Catarina Development 2018 Activity In South Central Catarina u Net D&C Capital 68MM u Drilling of 17 Gross Development Wells u Completions of 17 Gross Development Wells…
Stable Development in Catarina u Western Catarina Midstream 150 miles of gathering lines in Dimmit and Webb Counties 15-year gathering agreement with Sanchez Energy supported by 5-year minimum volume commitment (MVC) 35,000 net…
Carnero Gathering Line u Carnero Gathering Line SNMP owns 50% interest, up to 260 MMcf/d Transports gas from Sanchez Energys Catarina asset to the Raptor Gas Processing Facility Lateral provides connectivity to Sanchez Energys…
Raptor Gas Processing Facility u Raptor Gas Processing Facility SNMP owns 50% interest Cryogenic processing plant began operations in 2Q17 Stable, fee-based cash flow with Catarina field dedication and 5-year MVC from Sanchez…
Seco Pipeline u Seco Pipeline (Phase 1) SNMP owns and operates 100% of the pipeline 400 MMcf/d of dry natural gas capacity Pipeline went into service in 3Q17 u Provides Connectivity to South Texas Markets 30-mile, dry gas…
Future Volume and Development Opportunities Strategic Geographic Positioning (1) 12 (1) Slide map discloses assets from SNs 1/12/2017 acquisition announcement for the Comanche asset, which closed on March 1st, 2017 2018 Sanchez…
Future Midstream Asset Development Opportunities Seco Pipeline (Phase 2) VelociFrac Fractionator VelociFrac Ethane Pipeline u Expansion of Phase 1 of the Seco Pipeline u Two tower fractionator to remove and sell u 77-mile ethane…
Capitalization Summary u Revolving Credit Facility for SNMP (due 2020) 4Q 2017 Net Debt/ Consensus 2018 Adj. EBITDA (1) (2) (3) 249.3 MM borrowing base (200 MM commitments) with 6.00x an interest rate of LIBOR + 2.25% to 3.25%…
Partnership Highlights u Midstream assets supported by long-term fixed fee agreements with Sanchez Energy Corporation Well Positioned (NYSE:SN) with MVCs Midstream Asset Base u Gathering and processing assets located in the Eagle Ford…
Sanchez Midstream Partners Hedge Profile Crude Oil Hedges Natural Gas Hedges Daily Volume Daily Volume Quarter Type of Contract Bbls/d Floor Price Quarter Type of Contract MMBtus/d Swap Price Swaps 784 59.63 Swaps 1,468 3.00 1Q18…
SNMP Management Team Antonio R. Sanchez, III is Chairman of our general partners board of directors. Mr. Sanchez, III has served as the Chief Executive Officer of Sanchez Energy Corporation (NYSE: SN), a publicly traded exploration and…
SNMP Structure Organizational Structure (1) SOG Operating Platform Sanchez Family, SP Holdings, LLC SN Held Units Directors and Insiders (DE) (LP Interests) (LP Interests) Public Unitholders IDRs 11% 15% (LP Interests) Sanchez…
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