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Capital Link MLP Conference – LRR Energy LP

LRR Energy LP · Mar 5, 2015 · 21 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. Capital Link MLP Conference – LRR Energy LP – slide 1
    LRR Energy, L.P. Capital Link MLP Conference March 5, 2015
  2. Capital Link MLP Conference – LRR Energy LP – slide 2
    LRR Energy, L.P. LRR Energy Overview Market Valuation1 Equity Market Capitalization 224 MM Upstream MLP formed in November Net Debt 288 MM 2011 (NYSE: LRE) Enterprise Value 512 MM Seek to provide investors with stable Current…
  3. Capital Link MLP Conference – LRR Energy LP – slide 3
    LRR Energy, L.P. Strategy: Stable Cash Flows with Exposure to Growth Target long-lived, low-risk properties Make Accretive Proven management team with acquisition track record Acquisitions of Oil Leverage industry relationships to…
  4. Capital Link MLP Conference – LRR Energy LP – slide 4
    LRR Energy, L.P. Quality Assets Shallow production decline of 11% for 2015 Low Risk, Mature Assets 88% proved developed reserves 14.0 reserve life Focused operations Focused Portfolio Three operating regions with scale Well,…
  5. Capital Link MLP Conference – LRR Energy LP – slide 5
    LRR Energy, L.P. Property Summary LRE Total Permian Basin Q4 2014 Production (Boe/d) 6,641 Mid-Continent Proved Reserves (MMBoe) 33.8 Gulf Coast % Proved Developed 88% % Liquids 52% Total Proved Reserve Life (R/P) 14.0…
  6. Capital Link MLP Conference – LRR Energy LP – slide 6
    LRR Energy, L.P. Permian Basin Region Key fields: Red Lake, Pecos Slope, Corral Canyon Chaves Proved reserves1: 16.3 MMBoe (48% of total) Lea Q4 2014 Production: 3,576 Boe/d Eddy (54% of total) Reagan 667 gross (531 net)…
  7. Capital Link MLP Conference – LRR Energy LP – slide 7
    LRR Energy, L.P. Red Lake Field Largest LRE field, predominantly Chaves liquids Located in Eddy County, New Mexico 30% of total proved reserves1 and 38% of total Q4 2014 production Lea 224 gross (203 net) producing wells…
  8. Capital Link MLP Conference – LRR Energy LP – slide 8
    LRR Energy, L.P. Red Lake Field Significant Inventory of Drilling Opportunities Epoch/Series/ Time NW Shelf System Stage (M.Y.) New Mexico 2015 Red Lake Capital Plan Dewey Lake Ochoan 251 Ruster Recompletes Salado New Wells…
  9. Capital Link MLP Conference – LRR Energy LP – slide 9
    LRR Energy, L.P. Recompletions All 23 Red Lake wells drilled in 2014 were completed and are still producing in Yeso formation (no wells have been drilled in 2015) All wells have San Andres pay behind pipe Current San Andres…
  10. Capital Link MLP Conference – LRR Energy LP – slide 10
    LRR Energy, L.P. Mid-Continent and Gulf Coast Regions Mid-Continent Overview Gulf Coast Overview Key fields: Potato Hills, East Velma, Key fields: New Years Ridge, George Putnam, Stroud Prue Sand Unit West-Stratton Proved…
  11. Capital Link MLP Conference – LRR Energy LP – slide 11
    LRR Energy, L.P. 2015 Capital Budget Oil-weighted capital budget of 19 million Primarily consisting of: 3 Red Lake drill wells 26 Red Lake recompletes 2 non-op Putnam wells Area Project 11
  12. Capital Link MLP Conference – LRR Energy LP – slide 12
    LRR Energy, L.P. Significant Growth Potential Multiple Acquisition Sources Drop-downs Joint Bids Acquisitions Acquisitions from with from From Lime Rock Lime Rock Lime Rock Third Parties Resources Resources Partners 3…
  13. Capital Link MLP Conference – LRR Energy LP – slide 13
    LRR Energy, L.P. Lime Rock Resources Strong Committed Sponsor Formed in 2005 and consists of three investment funds Acquires mature, low-risk producing oil and natural gas properties in U.S. with long-lived production profiles…
  14. Capital Link MLP Conference – LRR Energy LP – slide 14
    LRR Energy, L.P. Conservative Financial Strategy As of March 2, 2015 Strong balance sheet ( in thousands) commitment Cash & Equivalents 2,022 Target debt/Adjusted EBITDA Senior Credit Facility (Maturity Oct-19)1 240,000 of <…
  15. Capital Link MLP Conference – LRR Energy LP – slide 15
    LRR Energy, L.P. Robust Hedge Portfolio at Attractive Prices 10% increase or decrease in commodity prices would affect 2015 EBITDA by less than 1%1 Hedge Summary2 Weighted Average Price Oil Gas NGLs Oil Gas NGLs Oil Gas NGLs…
  16. Capital Link MLP Conference – LRR Energy LP – slide 16
    LRR Energy, L.P. Investment Highlights Stable, low-risk and predictable properties Quality Assets Operated, primary production and low cost asset portfolio Significant Multiple sources of acquisitions Growth Potential Large…
  17. Capital Link MLP Conference – LRR Energy LP – slide 17
    Appendix 17
  18. Capital Link MLP Conference – LRR Energy LP – slide 18
    Appendix Lime Rock Overview Lime Rock Management Lime Rock Founded in 1998 5.5 BN of private capital commitments Lime Rock Partners Lime Rock Resources LRR Energy, L.P. LRP LRR LRE 4.0 BN of private Formed in 2005 Mature…
  19. Capital Link MLP Conference – LRR Energy LP – slide 19
    Appendix Organization and Ownership Summary Lime Rock Management LP 100% Class A Member Interest LRE GP, LLC Lime Rock Resources (LRR) Incentive Distribution Rights Fund I Common Units 0.1% GP Interest 30.5% LP…
  20. Capital Link MLP Conference – LRR Energy LP – slide 20
    Appendix Management Team and Board of Directors Executive Leadership Years of Name and Position Experience Select Prior Experience Eric Mullins 25 Lime Rock Resources; Goldman Sachs (Managing Director) Co-CEO and Chairman…
  21. Capital Link MLP Conference – LRR Energy LP – slide 21
    Appendix Commodity Hedges Current Hedge Position 2015 2016 2017 2018 (Full Year) (Full Year) (Full Year) (Full Year) NYMEX HH GAS SWAPS Gas Volumes (MMBtu) 5,500,236 5,433,888 5,045,760 2,374,800 Weighted Average Price1 5.72…

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