IPAA OGIS East New York, NY Monday, April 16, 2012 <
Organizational Structure Atlas Energy L.P. (NYSE: ATLS) Public Unitholders 63% LP & 2% GP Interest 35% LP Interest NYSE: ARP 3 <
ARP Investment Highlights Low Risk Profile Long-lived reserve base Strong hedging program Low leverage position Fee-based income stream from investment partnerships Multiple Opportunities to Grow Cash Flow Accretive Acquisitions…
The First Three Weeks ARP has already demonstrated its ability to provide strong value to its unitholders through accretive transactions 3/14/2012 ARP units are distributed to existing Atlas Energy, LP (ATLS) unitholders 3/16/2012…
ARP Profile Atlas Resource Partners (NYSE: ARP) Market Capitalization 900 million (32.2 MM common units outstanding)(1) Debt Outstanding 70 million(1) (250 million borrowing base) Enterprise Value 970 million Proved Reserves 450…
Barnett Shale Transaction Atlas Resource Partners (NYSE: ARP) announced the acquisition of approximately 277 Bcfe of proved reserves in Texass Barnett Shale for approximately 190 MM from Carrizo Oil and Gas Provides ARP with entry…
Asset Overview Atlas Asset Details Chesapeake Energy Devon Energy EOG Resources Majority of the assets located in the EVEP Quicksilver Resources Core portion of the Barnett Shale Atlas Position Most assets located in the Mansfield…
Projected Accretion to Common Unitholders The acquisition of the Barnett Shale assets will be accretive to ARP common unit distributions 2H 2012 Common Unit Distributions 2013 Common Unit Distributions 1.00 2.50 2H 2012 Accretion…
Strong Gas Hedge Position Natural Gas Within 2 days of signing the 2.67 PSA with CRZO, ARP 3.44 3.90 hedged 100% of its forward 4.15 12 month Barnett production, and a substantial amount of 4.68 5.12 5.08 5.27 4.40 the…
Pro Forma Reserve Summary The Barnett acquisition more than doubles ARPs proved reserves and enhances the long-lived nature of its asset base 900 825 800 700 600 500 450 PUD/PDNP Bcfe 400 PDP 300 200 100 0 Net Pro…
Comparable Peer Credit Profiles ARP plans to be one of the least levered companies in the E&P MLP sector with ample capacity to continue taking advantage of new opportunities that present themselves in the marketplace 2012E Debt /…
Mississippi Lime JV Position ARP entered into a joint venture with Equal Energy (NYSE, TSX: EQU) to acquire a 50% interest in 14,500 acres in the core of the Mississippi Lime play in northwestern OK Acreage is located in Alfalfa,…
Multiple Growth Drivers Development through Accretive Acquisitions Organic Leasehold Expansion Investment Partnership Programs Balanced and focused approach to growth provides multiple avenues for accretive cash flow…
Partnership Management: Strong History of Growth Over 1.5B in 40 year history funds raised in of fundraising the past 5 years Partnership Management Business Over 50,000 120+ broker individual dealers selling investors…
Syndication Business Model Value to Value to Drilling Partners Atlas Resource Substantial 1st year tax deduction Upfront fees from fundraising; (90% of investment) against 15-18% over costs paid by partners ordinary income…
GP Sponsor of E&P Investment Programs: Growth in Fees and Production Cash Flow 100.00 90.00 Partnership Margin (mm) (1) 80.00 70.00 60.00 50.00 40.00 30.00 20.00 10.00 - - 50 100 150 200 250 300 350 400 Funds Raised (mm)…
Foundational Core Producing Assets NY Appalachia: 8,500 producing wells OH PA 31.5 Mmcfe/d of net production as of Q4 2011 Atlas is connecting 16 Marcellus wells in Q1 2012 (11 newly drilled wells + 5 re-connected); 8 turned online…
Appalachia Assets Reserves 80% PDP; 90% natural gas Over 8,500 producing wells located in PA, OH and NY Low-declining production, long lived wells Provides a solid base of cash flow Over 70% of the existing wells have been…
Ohio Operations Atlas Energy Has Over 2,900 Wells In Ohio ARPs Ohio operations: Over 2,900 producing wells 75,000+ developed net acres Deerfield District Long lived reserves with low decline (9 Office MMcf/d of gross…
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