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2014 Citi MLP One on One Conference – Eagle Rock Energy Partners Lp

Eagle Rock Energy Partners Lp · Aug 21, 2014 · 33 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. 2014 Citi MLP One on One Conference – Eagle Rock Energy Partners Lp – slide 1
    2014 Citi MLP One-on-One Conference August 20-21, 2014 DRAFT 2014 Citi MLP One-on-One Conference August 20, 2014
  2. 2014 Citi MLP One on One Conference – Eagle Rock Energy Partners Lp – slide 2
    Management Representatives Joe Mills Chairman and Chief Executive Officer Bob Haines Interim Chief Financial Officer Chad Knips Director of Corporate Finance and Investor Relations 3 Eagle Rock Energy Partners, L.P.…
  3. 2014 Citi 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. 2014 Citi 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 MLP with assets in Oklahoma, South Alabama, Texas, Mississippi and Arkansas Market Valuation Key Statistics ( in millions, except per unit amounts)…
  5. 2014 Citi MLP One on One Conference – Eagle Rock Energy Partners Lp – slide 5
    Midstream Divestiture Marks a New Chapter for EROC Simplified structure: Increased focus and efficiency as pure-play upstream MLP Strategic Rationale Enhanced balance sheet strength provides a clearer path to growth Eagle Rock…
  6. 2014 Citi MLP One on One Conference – Eagle Rock Energy Partners Lp – slide 6
    Liquidity Summary Strong balance sheet after sale of Midstream Liquidity Summary Business ( in millions) Pre-Close Post-Close Approximately 380 million of liquidity 6/30/2014 7/1/2014 (1) (including RGP units) Cash 0.7 0.7 RGP…
  7. 2014 Citi MLP One on One Conference – Eagle Rock Energy Partners Lp – slide 7
    Upstream Asset Base Mid-Continent Assets Proved Reserves: 42 MMboe Alabama Area Avg. Prod. Rate (1): 7.7 Mboe/d Proved Reserves: 8.3 MMboe % Oil / Gas (1): 44% / 56% Avg. Prod. Rate (1): 2.3 Mboe/d Net Acreage: 146,046 % Oil / Gas…
  8. 2014 Citi MLP One on One Conference – Eagle Rock Energy Partners Lp – slide 8
    Investment Highlights Reserves and production spread across multiple fields and geographies Diverse Reserve Base Across High- Significant number of producing wells 562 operated and 1,202 non-operated Quality Basins Approximately 64%…
  9. 2014 Citi MLP One on One Conference – Eagle Rock Energy Partners Lp – slide 9
    Diversified Reserve Base Proved Reserve Profile By Product By Category By Area 57.7 MMboe of proved Alabama reserves at 12/31/13 NGLs Oil 14% PUD 25% 24% Permian 27% 6% STX/ETX/ Other 13 year reserve life (1) 7% PDNP 6%…
  10. 2014 Citi MLP One on One Conference – Eagle Rock Energy Partners Lp – slide 10
    Production on the Rise Four Newfield operated Briar wells (Kelly horizontal Woodford infill development) have been drilled, two are completed, and the remaining two are completing Each of these wells could contribute net 400 - 500…
  11. 2014 Citi MLP One on One Conference – Eagle Rock Energy Partners Lp – slide 11
    Midcontinent Eagle Rock Energy Partners, L.P. NASDAQ: EROC
  12. 2014 Citi 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 Eagle Rock Wells Non…
  13. 2014 Citi MLP One on One Conference – Eagle Rock Energy Partners Lp – slide 13
    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…
  14. 2014 Citi MLP One on One Conference – Eagle Rock Energy Partners Lp – slide 14
    Golden Trend Drilling Performance Overview LTM Drilling Production Wedge Vertical Bromide/Big 4 wells have exhibited improved production Net (Mcfe/d) performance in the deeper structural positions (W-NW portion of 20,000 Oneoks the…
  15. 2014 Citi MLP One on One Conference – Eagle Rock Energy Partners Lp – slide 15
    Golden Trend Central NW Type Curve Type Curve 1,000 Oil Gas Daily Production 100 10 0 365 730 1095 1460 1825 Days Overview Reserves1 Production Assumed WI: 100%, NRI: 82% Economic EUR: 510 MBoe Initial Rate D&C Cost:…
  16. 2014 Citi MLP One on One Conference – Eagle Rock Energy Partners Lp – slide 16
    SCOOP Area Overview SCOOP Asset Map 18,300 Net Acres Shale Basin Strat Column Metric Barnett Haynesville Marcellus Woodford Oklahoma/Tx Panhandle Depth (ft) 6,500 - 8,500 10,500 - 13,500 4,000 - 8,500 5,000 - 15,000 System Series…
  17. 2014 Citi MLP One on One Conference – Eagle Rock Energy Partners Lp – slide 17
    SCOOP Locations SCOOP Drilling Locations Location Selection Criteria Deep Shallow Depth range from 9,000 to 16,000 TVD SCOOP SCOOP Woodford thickness greater than 100…
  18. 2014 Citi MLP One on One Conference – Eagle Rock Energy Partners Lp – slide 18
    Selected Deep SCOOP Activity…
  19. 2014 Citi MLP One on One Conference – Eagle Rock Energy Partners Lp – slide 19
    Dual Section Deep Woodford Type Curve Type Curve 10,000 Oil Gas Daily Production 1,000 100 10 0 365 730 1095 1460 1825 Days Overview Reserves Production Assumed WI: 100%, NRI: 75% Economic EUR: 2,456 MBoe Initial…
  20. 2014 Citi MLP One on One Conference – Eagle Rock Energy Partners Lp – slide 20
    Selected Shallow SCOOP Activity (Woodford 10,000 Vertical depth) Selected Shallow SCOOP Activity Industry Activity GREEN ACRES 1-36H (CLR) IP: 760 Bbl/d, 1,294 Mcf/d Industry activity has moved up dip to test the MILLS 1-21H (CLR)…
  21. 2014 Citi MLP One on One Conference – Eagle Rock Energy Partners Lp – slide 21
    Dual Section Shallow Type Curve Type Curve 10,000 Oil Gas Daily Production 1,000 100 10 0 365 730 1095 1460 1825 Days Overview Reserves Production Assumed WI: 100%, NRI: 75% Economic EUR: 771 MBoe Initial Rate…
  22. 2014 Citi MLP One on One Conference – Eagle Rock Energy Partners Lp – slide 22
    Alabama Eagle Rock Energy Partners, L.P. NASDAQ: EROC
  23. 2014 Citi MLP One on One Conference – Eagle Rock Energy Partners Lp – slide 23
    Alabama Overview Mature, liquids-rich, shallow-decline Smackover and Norphlet fields Asset Map located in Southern Alabama Q2 2014 net production averaged 2.3 Mboe/d and BEC Field 175 LT/d of sulfur Flomaton Net margin of 40/Boe…
  24. 2014 Citi MLP One on One Conference – Eagle Rock Energy Partners Lp – slide 24
    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 plant and cryogenic plant SO2 emissions reduced to levels well below the…
  25. 2014 Citi MLP One on One Conference – Eagle Rock Energy Partners Lp – slide 25
    Summary Financial Information Eagle Rock Energy Partners, L.P. NASDAQ: EROC
  26. 2014 Citi MLP One on One Conference – Eagle Rock Energy Partners Lp – slide 26
    Pro Forma Upstream Financials and Guidance Historical Summary Financial Results Summary Guidance ( in millions) 2012A 2013A 1H 2014A Volumes (MMcfe) Expect quarterly G&A to decrease Midcontinent 19,157 17,109 8,441 Alabama 5,837 5,328…
  27. 2014 Citi MLP One on One Conference – Eagle Rock Energy Partners Lp – slide 27
    Robust Hedging Profile Includes Hedgable Volumes Crude, Condensate and NGLs (C2) (1) Ethane and Natural Gas (1) 100.0% 100.0% 93.7% 90.0% 90.0% 86.0% 80.0% 76.1% 80.0% 70.1% 71.7% 70.0% 70.0% 62.2% 60.0% 60.0% 50.0% 47.3%…
  28. 2014 Citi MLP One on One Conference – Eagle Rock Energy Partners Lp – slide 28
    Appendix Eagle Rock Energy Partners, L.P. NASDAQ: EROC
  29. 2014 Citi MLP One on One Conference – Eagle Rock Energy Partners Lp – slide 29
    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…
  30. 2014 Citi MLP One on One Conference – Eagle Rock Energy Partners Lp – slide 30
    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…
  31. 2014 Citi MLP One on One Conference – Eagle Rock Energy Partners Lp – slide 31
    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 the…
  32. 2014 Citi MLP One on One Conference – Eagle Rock Energy Partners Lp – slide 32
    Adjusted EBITDA Reconciliation Three Months Ended Six Months Ended June 30 June 30 2014 2013 2014 2013 ( in thousands) ( in thousands) Net ca s h fl ows provi ded by opera ting a ctivi ties 2,077 37,865 25,769 57,167 Add (deduct):…
  33. 2014 Citi MLP One on One Conference – Eagle Rock Energy Partners Lp – slide 33
    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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