MAY 6, 2014 INVESTOR PRESENTATION WPX STRATEGIC ALLIANCE OVERVIEW
Pending Acquisition Overview Key Economic Terms Asset Highlights Legacy Reserves LP (NASDAQ: LGCY) forms strategic 276 Bcfe (46 MMBoe) proved reserves (100% PDP) alliance with WPX Energy (NYSE: WPX) through 83% natural gas, 15% NGL, 2%…
Pro Forma Assets Standalone(1) Acquisitions(2)(3) Pro Forma (88% PD) (99% PD) (92% PD) 87.6 MMBoe 55.0 MMBoe 142.6 MMBoe 7% 89% 41% 11% 11% 11% 52% 78% Permian Basin Rocky Mountain MidContinent 13% 8% 70% 46% 5%…
Investment Rationale of Pending Acquisition WPX is a world-class Rockies operator with a deep inventory of MLP-friendly assets Unmatched experience, infrastructure, and economics in the Piceance Basin IDRs incentivize both parties to…
Strategic Alliance & IDR Overview LGCY Objectives: Provide long-term economic incentive for future transactions between the parties WPX initially receives and vests in 10% of newly-created IDRs as part of the consideration for…
WPX Company Overview WPX Energy (NYSE: WPX), based in Tulsa, Williston Marcellus 106 MMBoe Proved 328 Bcfe Proved Oklahoma, has a 4.3 billion market cap, 6.2 176 MMBoe 3P 1,555 Bcfe 3P billion TEV (as of 5/5/14), and reported 779…
APPENDIX 8
IDR Key Terms Units: 1,000,000 IDRs authorized and available for issuance by LGCY Founding Investors, WPX: Issued 300,000 IDRs Directors Public and Management Vesting: 100,000 IDRs immediately vest; 200,000 IDRs are available to…
Oil and Natural Gas Hedging Summary(1) Approximately 79% of expected PDP crude oil Oil 3-Way Collars Summary production hedged through 2015 at a weighted- 1,600 140.00 averaged floor price of 92.73 / Bbl 110.56 112.21 106.40 104.20…
Updated 2014 Financial Guidance(1) Guidance: ( in thousands unless otherwise noted) FY 2014E Revised Range Production: Oil (MBbls) 4,820 - 4,940 Natural gas liquids (MGal) 24,700 - 25,300 Natural gas (MMcf) 22,650 - 23,200 Total…
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