Platts MLP Symposium October 4, 2012 Bobby Stillwell www.memorialpp.com Treasurer
Overview of Memorial Production Partners LP Upstream publicly-traded partnership headquartered in Houston, Texas Initial public offering December 2011 Units traded on NASDAQ under the ticker MEMP Diverse portfolio of mature,…
Why Memorial Production Partners Memorial Resource Development LLC (MRD) provides operating and A&D leverage and scale Proven track record in acquisitions 1B+ acquisitions / 20+ transactions in the last 4 years Multiple acquisition…
Strategic Relationships Provide Growth Opportunities Over 10 billion of capital commitments under Overlapping asset base 1.2+ Tcfe Proved management since inception in 1988 Reserves 12 upstream focused funds Experienced operating…
MRD Provides Exceptional Growth Opportunities Value-Added Sponsor MRD Asset Overview Significant and diverse asset base Total proved reserves 1,235 Bcfe (1) 69% natural gas with over 1.2+ Tcfe of proved 37% proved developed reserves…
1H 2012 - Three Acquisitions Completed Proved Assets Overview Area Map Key Fields: Texas - Willow Springs, Double A Field, Joaquin, Carthage / North Louisiana - Hico-Knowles/Terryville Acquisition 1 4/2/12 Zones: Cotton Valley,…
Fourth Acquisition Closed 9/28/12 Proved Asset Overview Area Map Purchase price: 93.2 million Financed with proceeds from borrowings under revolving Acquisition credit facility (upsized borrowing base to 380 million) Properties…
Safe, Diverse MLP Assets Asset Overview Focused Operations Memorial Production Asset Overview (1) Concentrated in mature basins with operations Total proved reserves 533 Bcfe dating to the 1930s 79% natural gas 62% proved developed…
MEMP Hedging Overview: Q3-2012 thru Q3-2017 MEMP has added additional natural gas and oil hedges to lock-in the value of our legacy production and recent acquisitions For hedging purposes, MEMPs targeted average net production…
2012 Guidance 2012 Guidance Low High For Year Ended For Year Ended December 31, 2012 December 31, 2012 Annual Production (Bcfe) 21 22 Adjusted EBITDA (MM) 76 78 Distributable Cash Flow (MM) 56 58 DCF Coverage 1.25x 1.35x Maintenance…
Safety, Growth and Returns High quality assets MLP appropriate asset profile Strong sponsorship with aligned interests Supportable and clear growth strategy Seasoned management team Cash flow visibility and security…
Appendix
Management Experience and Depth Executive Team Years Name / Title Experience Previous Experience John A. Weinzierl Natural Gas Partners; Enron Corp.; Conoco, Inc.; Eagle Rock G&P President, CEO and 21 (Director) Chairman of the Board…
Board of Directors Non-Management Directors Name / Title Previous Experience Jonathan M. Clarkson Texas Capital Bank; Mission Resources; Bargo Energy Company; Ocean Independent Director Energy; Director: Edge Petroleum; Parker Drilling…
Natural Gas Hedging Summary: Q3-2012 thru Q3-2017 Natural Gas Hedge Summary July 2012 - Year Ending December 31, Jan 2017 Dec 2012 2013 2014 2015 2016 Sep 2017 Swap contracts: Volume (MMBtu/d) 22,229 36,499 40,221 36,420 33,550…
Liquids Hedging Summary: Q3-2012 thru Q3-2017 Liquids Hedge Summary July 2012 - Year Ending December 31, Jan 2017 - Dec 2012 2013 2014 2015 2016 Sep 2017 Crude Oil Derivative Contracts: Swap contracts: Volume (Bbl/d) 155 152 176 264…
Non-GAAP Financial Measures In accordance with GAAP, acquisitions from Memorial Resource are considered transactions between entities under common control; therefore, the 2012 Guidance is presented as if MEMP had owned the assets for all…
Adjusted EBITDA & Distributable Cash Flow Reconciliations Adjusted EBITDA & Distributable Cash Flow Reconciliations Low High For Year Ended For Year Ended December 31, 2012 December 31, 2012 (in millions) (in millions) Calculation…
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