Capital Link MLP Investing Forum Investor Presentation March 5, 2015 www.memorialpp.com
Overview of Memorial Production Partners LP Diverse portfolio of mature, long-lived producing properties Assets in East Texas / North Louisiana, Rockies, Permian, South Texas and California Strategy of growing and maintaining…
MEMP Diverse, Long-Lived Assets (1) Total Partnership Proved Reserves (Bcfe) 1,701 % Proved Developed 57% California Proved Reserves (MMBbls) 12.5 % Liquids Reserves 56% % Oil Reserves 100% PF 4Q14 Production (MMcfe/d) 249.8…
Acquisition Strategy Drives Growth & Diversification Acquisitions Since IPO Proved Reserves (1) Net Production (1) Purchase Price (1) Date Announced Transaction Structure Location (Bcfe) (MMcfe/d) (MM) (2) (2) (2) February 2015 MRD…
Strong, Aligned Sponsor Sponsorship Allows for Growth NGP Funds Third Party Acquisitions MRD Holdco LLC Joint Bid with MRD Memorial Resource Development Corp. (NASDAQ: MRD) 100% Acquisitions from NGP 6.4% Limited…
East Texas / North Louisiana: Diversity and Upside Asset Overview Asset Location Key Fields: Joaquin, Carthage, Willow Springs and East Henderson fields Primary Formations: Cotton Valley, Travis Peak Field Characteristics: Fields…
Rockies: Concentrated, Long-Lived Assets Asset Overview Asset Location Key fields: Lost Soldier and Wertz in Sweetwater and Carbon Counties, WY Properties discovered in the early 1900s; began secondary recovery in the 1970s and…
Permian Basin: Long-Lived Oil Asset Overview Asset Location Key Fields: Anita, Atoka, Dimmitt, Elkhorn, Kingdom Abo and North Square Lake Primary Formations: Abo Reef, Cherry Canyon, Clearfork and Palo Pinto Field…
South Texas: Stable Production with Liquids Asset Overview Asset Location Eagle Ford acreage position in the core of the Eagle Ford play in Karnes County Area recognized as the volatile oil window Eagle Ford Producing Wells: 175…
California: Significant Original Oil in Place Asset Overview Asset Location Los Angeles Located 11 miles offshore Port of Long Beach, Long Beach California 2 wellhead platforms each with a permanent drilling Ellen and Elly…
Financial Strategy Liquidity of 855 million provided by a 1.44 billion borrowing base Preserve Financial Flexibility Expect to fund acquisitions on a conservative debt / equity basis over the long term Aim for 65-85% of…
MEMP Hedging Overview: 2015 through 2019 MEMPs commodity risk management policy provides for hedging approximately 65-85% of estimated production from total proved reserves on a rolling three to six year period Policy reduces MEMPs…
Safety, Growth and Returns High quality assets MLP-appropriate asset profile Strong sponsorship with aligned interests Clear and achievable growth strategy Seasoned management team Cash flow visibility and security 16
Appendix
Cash Margin Per Mcfe Twelve Months Ended 12/31/2014 Net production volumes Oil (MBbls) 3,092 NGLs (MBbls) 2,143 Natural gas (MMcf) 41,494 Total (MMcfe) 72,902 Average net production (MMcfe/d) 199.7 Average sales prices before…
Low Development Costs Maximize Margins Identified Production Replacement Project Types PDNP + PUDs PUDs Only Control and reduce costs through low-risk drilling, recompletions 860 Bcfe Total 731 Bcfe Total and operational enhancements…
MEMP Reserve Details(1) Oil Gas NGLs Total % of Proved MBBL MMCF MBBL MMCFE % PDP 47,187 377,540 30,135 841,477 49% PDNP 7,484 43,310 6,803 129,031 8% PUD 45,746 326,210 21,684 730,787 43% Total Proved 100,418 747,060 58,622…
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