Legacy Reserves LP Overview Legacy (NASDAQ: LGCY) IPOd in January 2007 and has a consistent track record of growing its oil-weighted asset base and delivering unitholder value Current Enterprise Value: 2.4 billion 1.6 billion…
Core Asset Areas Reserve Breakdown(1) 11% Overview 12% 88.4 MMBoe PF proved reserves(1) 76% 69% Oil and NGLs 88% PDP 20,043 Boe/d current production(2) Permian Basin Rocky Mountain Mid-Continent 5% Proved R/P of 12.1(3)…
Permian Basin: Our Home and a Great Fit for an MLP Discovered in 1921, the Permian Basin is Industry Production Activity one of the most prolific basins in the U.S. Cumulative production of over 30 billion Bbls Currently producing…
Acquisitions Drive Growth Disciplined evaluation approach to making acquisitions of mature, long-lived oil and 635 350 700 40 natural gas properties with high concentration of PDP reserves. 35 300 Approximately 1.6 billion of…
Production and EBITDA Growth with Modest Leverage Average Daily Production (Boe / d) Adjusted EBITDA ( MM) 24,000 300 18,000 225 12,000 150 305 20,043 201 198 6,000 13,071 14,811 75 141 8,225 9,611 104 120 7,582 70 4,970…
Quarterly Cash Distribution Profile 0.700 Quarterly Distribution per Unit 160 Cumulative distributions since WTI Spot Price ( / Bbl) inception = 14.080/unit 140 0.600 0.58 0.585 0.575 0.57 0.56 0.565 120 0.55 0.555 0.54…
Hedging Strategy Clear objective to reduce cash flow volatility to protect our borrowing base and future distribution levels Target approximately 85% of estimated PDP production over the next 18-24 months on a rolling quarterly…
Key Investment Highlights High-quality, liquids-rich asset portfolio 69% Liquids 12.1 R/P(1) Strong track record 123 acquisitions of producing properties worth approximately 1.6 billion 12 consecutive quarters of distribution…
Appendix 11
Conservative Capital Structure ( in millions) September 30, 2013 Cash and cash equivalents 4.0 Long-term debt: Revolving credit facility due 2016 310.0 8% Senior Notes due 2020 (1) 300.0 6.625% Senior Notes due 2021 (1) 250.0…
Oil and Natural Gas Hedging Summary Approximately 89% of expected PDP crude oil Oil 3-Way Collars Summary production hedged through 2014 at a 2,000 140.00 112.21 weighted-averaged floor price of 92.03 / Bbl 1,600 108.15 108.62…
Permian Basin Drilling Opportunities Note: Reflects proved and unproved locations as well as prospective acreage. Well costs are based on current estimates. 15
Ownership Structure and Governance Significant insider ownership No IDRs yields lower cost of capital and ensures Founding Investors, unitholder alignment Directors Public and Management Unitholder voting rights similar to…
Adjusted EBITDA Reconciliation The following presents a reconciliation of Adjusted EBITDA, which is a non-GAAP measure, to its nearest comparable GAAP measure. Adjusted EBITDA should not be considered as an alternative to GAAP measures,…
Reg G Reconciliation ( in millions) 2007 2008 2009 2010 2011 2012 9M 2013 Net income (loss) (55.7) 158.2 (92.8) 10.8 72.1 68.6 11.6 Interest expense 7.1 21.2 13.2 25.8 18.6 20.3 36.1 Income taxes 0.3 0.0 0.6 0.5 1.0 1.1 0.6…
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