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2015 UBS MLP One on One Conference – Eagle Rock Energy Partners Lp

Eagle Rock Energy Partners Lp · Jan 14, 2015 · 29 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. 2015 UBS MLP One on One Conference – Eagle Rock Energy Partners Lp – slide 1
    2015 UBS MLP One-on-One Conference January 12 14, 2015 DRAFT 2014 Citi MLP One-on-One Conference August 20, 2014
  2. 2015 UBS MLP One on One Conference – Eagle Rock Energy Partners Lp – slide 2
    Management Representatives Bob Haines Senior Vice President and Chief Financial Officer Chad Knips Director of Corporate Finance and Investor Relations 3 Eagle Rock Energy Partners, L.P. NASDAQ: EROC
  3. 2015 UBS MLP One on One Conference – Eagle Rock Energy Partners Lp – slide 3
    Partnership Overview & Recent Highlights Eagle Rock Energy Partners, L.P. NASDAQ: EROC
  4. 2015 UBS MLP One on One Conference – Eagle Rock Energy Partners Lp – slide 4
    Eagle Rock Overview Eagle Rock Energy Partners, L.P. is a growth-oriented upstream Master Limited Partnership (MLP) with assets located primarily in Oklahoma, South Alabama, Texas, Mississippi and Arkansas Market Valuation Key…
  5. 2015 UBS MLP One on One Conference – Eagle Rock Energy Partners Lp – slide 5
    Investment Highlights Reserves and production spread across multiple fields and geographies Diverse Reserve Significant number of producing wells 562 operated and 1,202 non-operated Base Across High- Quality Basins Approximately 73%…
  6. 2015 UBS MLP One on One Conference – Eagle Rock Energy Partners Lp – slide 6
    Balance Sheet Strength Strong balance sheet after divestiture of Midstream Business Long-term financial plan 285 million of liquidity (including RGP units) RGP units a potential source of liquidity to finance acquisitions RGP units…
  7. 2015 UBS MLP One on One Conference – Eagle Rock Energy Partners Lp – slide 7
    Robust Hedging Profile Significant value in hedge portfolio with an estimated mark-to-market value greater than 100 MM (1) Includes Hedgeable Volumes Crude, Condensate & NGLs (C2) (2) Ethane and Natural Gas (2) 100% 100% 90% 90%…
  8. 2015 UBS MLP One on One Conference – Eagle Rock Energy Partners Lp – slide 8
    Upstream Asset Base Mid-Continent Assets Proved Reserves: 251.7 Bcfe Alabama Area Avg. Prod. Rate (1): 48.9 MMcfe/d Proved Reserves: 49.9 Bcfe % Oil / Gas (1): 46% / 54% Avg. Prod. Rate (1): 13.9 MMcfe/d Net Acreage: 146,046 % Oil /…
  9. 2015 UBS MLP One on One Conference – Eagle Rock Energy Partners Lp – slide 9
    Diversified Reserve Base Proved Reserve Profile By Product By Category By Area Alabama NGLs Oil PUD 14% 346.3 Bcfe of proved 25% 24% Permian 27% 6% reserves at 12/31/13 STX/ETX/ Other 7% PDNP 6% PDP Gas 67% Mid-Con 73%…
  10. 2015 UBS MLP One on One Conference – Eagle Rock Energy Partners Lp – slide 10
    Eagle Rock Value Proposition Eagle Rock currently trades at a significant discount to upstream MLP peers Eagle Rock offers investors upside potential with its strong balance sheet and ample liquidity for acquisitions EV / 2015 EBITDA…
  11. 2015 UBS MLP One on One Conference – Eagle Rock Energy Partners Lp – slide 11
    Midcontinent Eagle Rock Energy Partners, L.P. NASDAQ: EROC
  12. 2015 UBS MLP One on One Conference – Eagle Rock Energy Partners Lp – slide 12
    Midcontinent Overview 146,046 Net Acres, 93% Held by Production Cleveland Cana Woodford / Stack Play Arkoma Golden Trend Granite Wash Verden Legend SE Cana Eagle Rock Wells Operated Woodford and Eagle Rock Wells Non…
  13. 2015 UBS MLP One on One Conference – Eagle Rock Energy Partners Lp – slide 13
    SCOOP Area Overview SCOOP Asset Map 21,000 Net Acres Shale Basin Metric Barnett Marcellus Woodford Springer Depth (ft) 6,500' - 8,500' 4,000' - 8,500' 5,000' - 16,500' 11,000' - 14,000' Net Thickness (ft) 100' - 700' 50' - 350' 120' -…
  14. 2015 UBS MLP One on One Conference – Eagle Rock Energy Partners Lp – slide 14
    SCOOP Locations SCOOP Drilling Locations Location Selection Criteria Depth range from 9,000 to 16,000 TVD DEEP SCOOP Thickness greater than 100 up to 350 10,000 Acreage is all held by production no lease expirations SHALLOW…
  15. 2015 UBS MLP One on One Conference – Eagle Rock Energy Partners Lp – slide 15
    Selected Deep SCOOP Activity (Woodford 10,000 Vertical depth) Selected Deep SCOOP Activity Industry players intend to develop most of T2N R4W MCLEMORE 1-20H (EROC), WI: 42% with extended laterals IP30: 315 Bbl/d, 2,192 Mcf/d First…
  16. 2015 UBS MLP One on One Conference – Eagle Rock Energy Partners Lp – slide 16
    Selected Goddard (Springer) Shale Activity Selected Goddard Activity Industry Activity RENEW CHICKASHA 1-21H (CLR) IP: 1,199 BOED GALA 1-22H (CLR) IP: 765 BOED BIRT 1-13H (CLR) IP: 793 BOED Play launched in 2013 by the Continental…
  17. 2015 UBS MLP One on One Conference – Eagle Rock Energy Partners Lp – slide 17
    Alabama Eagle Rock Energy Partners, L.P. NASDAQ: EROC
  18. 2015 UBS MLP One on One Conference – Eagle Rock Energy Partners Lp – slide 18
    Alabama Overview Mature, liquids-rich, shallow-decline Smackover and Norphlet fields located in Southern Alabama Asset Map Q3 2014 net production averaged 13.9 MMcfe/d and BEC Field 160 LT/d of sulfur Net margin of 6/Mcfe YTD as…
  19. 2015 UBS MLP One on One Conference – Eagle Rock Energy Partners Lp – slide 19
    Big Escambia Creek Drilling Program BEC plant runtimes have been strong following the SuperClaus installation at the end of 2012 99% runtimes at the sulfur and cryogenic plant Planned 15-day routine turnaround in 1H 2015 will…
  20. 2015 UBS MLP One on One Conference – Eagle Rock Energy Partners Lp – slide 20
    Summary Financial Information Eagle Rock Energy Partners, L.P. NASDAQ: EROC
  21. 2015 UBS MLP One on One Conference – Eagle Rock Energy Partners Lp – slide 21
    Pro Forma Upstream Financials and Guidance Historical Summary Financial Results (as of 9/30/14) Summary Guidance ( in millions) 2012A 2013A YTD 2014A Volumes (MMcfe) Expect quarterly G&A to decrease Midcontinent 19,157 17,109 12,940…
  22. 2015 UBS MLP One on One Conference – Eagle Rock Energy Partners Lp – slide 22
    Why Invest in Eagle Rock Strong Compelling Balance Valuation Sheet Robust Acquisition Hedge Focused Portfolio Quality Reserve Base 23 Eagle Rock Energy Partners, L.P. NASDAQ: EROC
  23. 2015 UBS MLP One on One Conference – Eagle Rock Energy Partners Lp – slide 23
    Appendix Eagle Rock Energy Partners, L.P. NASDAQ: EROC
  24. 2015 UBS MLP One on One Conference – Eagle Rock Energy Partners Lp – slide 24
    Golden Trend Selected Drilling Results Producing Formations GR Log One to Two Rig Vertical Program Drilling Bromide/Big Four Wells BEAM 3-17 (97% WI) BEAM 5-17 (100% WI) STERR 1-15 (98% WI) Deese (Hart Sand) IP30: 179 Bbl/d, 800…
  25. 2015 UBS MLP One on One Conference – Eagle Rock Energy Partners Lp – slide 25
    Permian Overview The Permian assets contain numerous fields located Asset Map primarily in Ward, Pecos and Crane counties These fields produce from multiple intervals from the Yates-Seven River-Queen group through the Ellenburger…
  26. 2015 UBS MLP One on One Conference – Eagle Rock Energy Partners Lp – slide 26
    Permian CO2 Potential Whiting North Ward Estes CO2 Project Whiting Petroleum is currently operating and expanding a successful CO2 flood immediately north of Eagle Rocks position Whiting CO2 Project CO2 injection was initiated in…
  27. 2015 UBS MLP One on One Conference – Eagle Rock Energy Partners Lp – slide 27
    ETX / STX / MS Overview East Texas Production primarily from the Smackover formation from 12,000 Asset Map feet to 12,700 feet Produced gas includes approximately 30% hydrogen sulfide, nitrogen and CO2 Production is delivered to…
  28. 2015 UBS MLP One on One Conference – Eagle Rock Energy Partners Lp – slide 28
    Adjusted EBITDA and DCF Reconciliation Three Months Ended Nine Months Ended Three Months Ended September 30, September 30, June 30, 2014 2013 2014 2013 2014 Net income (loss) to Adjusted EBITDA Net (loss) income, as reported 266,288…
  29. 2015 UBS MLP One on One Conference – Eagle Rock Energy Partners Lp – slide 29
    SEC Reserve Disclosures The SEC requires oil and gas companies to disclose proved reserves quantities and allows for the optional disclosure of probable reserves. The Partnership has provided internally generated estimates for probable…

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