Cypress Energy Partners provides essential midstream pipeline inspection, integrity, and water disposal services. The presentation discusses the company's business lines and the regulatory environment driving demand. It notes that 85% of revenues are from investment-grade customers and that increased pipeline capacity from projects like DAPL are expected to boost Bakken production and Cypress' water disposal volumes. The typical lifecycle of a pipeline requires inspection and integrity services throughout.
Cypress Energy Partners provides pipeline inspection and integrity services to oil and gas companies. It owns two subsidiaries that perform these services across North America. The company also owns saltwater disposal facilities focused on produced water. It has opportunities to expand its existing services and acquire complementary businesses. Regulations are increasing demand for pipeline inspection and integrity services to monitor the vast aging pipeline infrastructure in the United States.
Denbury Resources presented at the Barclays CEO Energy-Power Conference on September 6, 2017. Denbury is an oil and gas company focused on CO2 enhanced oil recovery in two regions: the Gulf Coast and Rocky Mountains. Some key points:
- Proved oil reserves of 254 million barrels and proved plus potential reserves of around 900 million barrels as of year-end 2016.
- Significant CO2 reserves and pipeline infrastructure to support ongoing CO2 flooding projects.
- Second quarter 2017 production of around 60,000 barrels of oil equivalent per day, with over 95% from CO2 flooding projects.
- Focus on reducing costs by over $50 million in 2018 while modestly growing production and improving the balance sheet
This corporate presentation by Denbury Resources provides an overview of the company's CO2 enhanced oil recovery (EOR) business. Some key points:
- Denbury focuses on CO2 EOR, owning significant CO2 reserves and over 1,100 miles of pipelines to transport CO2 for injection.
- The company's assets have substantial long-term EOR resource potential estimated at 890 million barrels recoverable.
- In response to low oil prices, Denbury is focusing on reducing costs, optimizing operations, reducing debt, and preserving cash and liquidity.
- The company has ample CO2 supply for EOR operations with no significant capital required for several years.
- Denbury Resources reported financial and operational results for 2Q17 during an earnings presentation on August 8, 2017.
- Production for the quarter was 59,774 BOE/d, relatively flat compared to 1Q17. Denbury revised 2017 full-year production guidance to 60,000-62,000 BOE/d.
- Capital expenditures for 2017 were reduced to approximately $250 million, down from the initial $300 million budget, due to deferral of some development projects.
Denbury Resources presented at the Johnson Rice 2017 Energy Conference on September 26-27, 2017. Some key points:
- Denbury has proved oil reserves of 254 MMBOE and proved + potential reserves of ~900 MMBOE from CO2 enhanced oil recovery.
- Their CO2 supply includes 6.5 Tcf of proved reserves plus significant quantities from industrial sources.
- Recent production was 59,774 BOE/d, with 61% from CO2 EOR projects and 97% oil.
- Denbury has over 1,100 miles of CO2 pipelines and nearly 2 decades of CO2 EOR production experience.
This document provides an overview of Denbury Resources Inc. (NYSE: DNR), an oil and gas company focused on enhanced oil recovery using carbon dioxide (CO2) flooding. Some key points:
- DNR owns over 1,100 miles of CO2 pipelines and has produced over 155 million gross barrels from CO2 EOR projects to date.
- DNR's two core CO2 EOR target areas in the Gulf Coast and Rocky Mountain regions have an estimated recoverable potential of up to 16 billion gross barrels.
- DNR's 2017 capital budget is approximately $300 million, focused on expanding existing CO2 floods and other projects. Production is expected to remain relatively flat in 2017 compared to
Sandridge Energy presented its operational plan and investment thesis. Key points include:
- Focus on high-grading its Mid-Continent assets and appraising new zones while developing its North Park Niobrara acreage position.
- North Park Niobrara drilling is showing encouraging early results and potential upside through extended laterals and additional benches.
- The company has a strong balance sheet, $536 million in liquidity, and minimal covenants following its restructuring providing financial flexibility.
Cliffs Natural Resources reported first quarter 2014 earnings. While sales volumes were down slightly from weather impacts, the company maintained its full-year 2014 guidance. Cash costs and expenses were reduced through cost savings initiatives. Total liquidity increased 32% to over $1.9 billion compared to the prior year through debt refinancing. The company continues to focus on improving operations and extracting highest value from its assets in a challenging pricing environment.
Cypress Energy Partners provides pipeline inspection and integrity services to oil and gas companies. It owns two subsidiaries that perform these services across North America. The company also owns saltwater disposal facilities focused on produced water. It has opportunities to expand its existing services and acquire complementary businesses. Regulations are increasing demand for pipeline inspection and integrity services to monitor the vast aging pipeline infrastructure in the United States.
Denbury Resources presented at the Barclays CEO Energy-Power Conference on September 6, 2017. Denbury is an oil and gas company focused on CO2 enhanced oil recovery in two regions: the Gulf Coast and Rocky Mountains. Some key points:
- Proved oil reserves of 254 million barrels and proved plus potential reserves of around 900 million barrels as of year-end 2016.
- Significant CO2 reserves and pipeline infrastructure to support ongoing CO2 flooding projects.
- Second quarter 2017 production of around 60,000 barrels of oil equivalent per day, with over 95% from CO2 flooding projects.
- Focus on reducing costs by over $50 million in 2018 while modestly growing production and improving the balance sheet
This corporate presentation by Denbury Resources provides an overview of the company's CO2 enhanced oil recovery (EOR) business. Some key points:
- Denbury focuses on CO2 EOR, owning significant CO2 reserves and over 1,100 miles of pipelines to transport CO2 for injection.
- The company's assets have substantial long-term EOR resource potential estimated at 890 million barrels recoverable.
- In response to low oil prices, Denbury is focusing on reducing costs, optimizing operations, reducing debt, and preserving cash and liquidity.
- The company has ample CO2 supply for EOR operations with no significant capital required for several years.
- Denbury Resources reported financial and operational results for 2Q17 during an earnings presentation on August 8, 2017.
- Production for the quarter was 59,774 BOE/d, relatively flat compared to 1Q17. Denbury revised 2017 full-year production guidance to 60,000-62,000 BOE/d.
- Capital expenditures for 2017 were reduced to approximately $250 million, down from the initial $300 million budget, due to deferral of some development projects.
Denbury Resources presented at the Johnson Rice 2017 Energy Conference on September 26-27, 2017. Some key points:
- Denbury has proved oil reserves of 254 MMBOE and proved + potential reserves of ~900 MMBOE from CO2 enhanced oil recovery.
- Their CO2 supply includes 6.5 Tcf of proved reserves plus significant quantities from industrial sources.
- Recent production was 59,774 BOE/d, with 61% from CO2 EOR projects and 97% oil.
- Denbury has over 1,100 miles of CO2 pipelines and nearly 2 decades of CO2 EOR production experience.
This document provides an overview of Denbury Resources Inc. (NYSE: DNR), an oil and gas company focused on enhanced oil recovery using carbon dioxide (CO2) flooding. Some key points:
- DNR owns over 1,100 miles of CO2 pipelines and has produced over 155 million gross barrels from CO2 EOR projects to date.
- DNR's two core CO2 EOR target areas in the Gulf Coast and Rocky Mountain regions have an estimated recoverable potential of up to 16 billion gross barrels.
- DNR's 2017 capital budget is approximately $300 million, focused on expanding existing CO2 floods and other projects. Production is expected to remain relatively flat in 2017 compared to
Sandridge Energy presented its operational plan and investment thesis. Key points include:
- Focus on high-grading its Mid-Continent assets and appraising new zones while developing its North Park Niobrara acreage position.
- North Park Niobrara drilling is showing encouraging early results and potential upside through extended laterals and additional benches.
- The company has a strong balance sheet, $536 million in liquidity, and minimal covenants following its restructuring providing financial flexibility.
Cliffs Natural Resources reported first quarter 2014 earnings. While sales volumes were down slightly from weather impacts, the company maintained its full-year 2014 guidance. Cash costs and expenses were reduced through cost savings initiatives. Total liquidity increased 32% to over $1.9 billion compared to the prior year through debt refinancing. The company continues to focus on improving operations and extracting highest value from its assets in a challenging pricing environment.
Denbury Resources provides a presentation on their company and operations. Some key points:
- They operate CO2 enhanced oil recovery in two core regions: the Gulf Coast and Rocky Mountain regions.
- In these regions they have significant CO2 reserves and pipeline infrastructure to support CO2 EOR projects.
- Their 2016 proved oil reserves were 254 MMBOE, with potential to recover up to 900 MMBOE total from their fields using CO2 EOR.
- They provide updates on recent acquisitions of the Salt Creek and West Yellow Creek fields, which are expected to replace 2017 production.
- Denbury also revises their 2017 capital budget down to $250 million and production guidance up slightly to 60-
An updated PowerPoint presentation summarizing CONSOL's second quarter 2016 operating and financial status. CONSOL has largely completed a transition from coal company to natural gas driller--focused on the Marcellus and Utica Shale region.
PLG Consulting Appalachian logistics League May 5, 2015PLG Consulting
PLG president, Taylor Robinson spoke on May 5, 2015 at the 65th annual Appalachian Logistics League meeting. Mr. Robinson presentedThe North American Energy Revolution: The Implication for Logistics. The meeting was an opportunity for members to network and discuss the ever changing industry of Supply Chain and Logistics with a primary focus on the impacts to the region.
2015 Energy Efficiency Forum: Shape What’s Next | ICF International KeynoteICF
Interact with a portion of a keynote presentation given by Phil Mihlmester, Executive Vice President of Global Energy at ICF International, at the 2015 Energy Efficiency Forum: Shape What’s Next. Review highlighted trends within the oil & gas markets and solar and their impacts on price fluctuations and efficiency. The Forum, an invitation-only event, was held in Scottsdale, Arizona, March 25 - 27, 2015, and brought together utility executives and energy industry leaders from across the United States to discuss strategic issues facing this sector.
For more of ICF’s perspectives on energy, we recommend:
Collapsing Oil Prices|Strategies & Opportunities: An ICF webinar archive that presents implications, strategies, and opportunities in the oil, natural gas, and natural gas liquids (NGL) markets due to the recent changes in oil prices.
http://www.icfi.com/insights/webinars/2015/recording-collapsing-oil-prices-strategies-and-opportunities
The True Value of Solar: An ICF white paper that examines the current state of value of solar (VOS) analysis and proposes a more holistic methodology that can be consistently applied across various utility service areas.
http://www.icfi.com/insights/white-papers/2014/true-value-of-solar
Denbury Resources is an oil and gas company focused on CO2 enhanced oil recovery. It owns over 1,100 miles of CO2 pipelines and has access to large CO2 reserves. Denbury estimates there is potential to recover up to 16 billion gross barrels using CO2 EOR in its operating areas in the Gulf Coast and Rocky Mountain regions. The company is focusing on reducing costs and debt in response to low oil prices. It has significantly improved CO2 efficiency and reduced cash operating costs per barrel. Denbury has ample CO2 supply for several years with no major capital required.
The document provides an overview of Crestwood Midstream Partners LP and Crestwood Equity Partners LP. It discusses key investor highlights including 2016 outlook and adjusted EBITDA guidance of $490-520 million. It also summarizes the company's capital structure, debt maturity profile, and operational updates in core areas like the Bakken shale play.
The document provides an overview of forward-looking statements and guidance for Antero Midstream Partners LP. It summarizes that AM expects adjusted EBITDA of $180-190 million and distributable cash flow of $160-170 million for 2015. It also outlines AM's guidance for expansion of its low and high pressure pipelines and compression capacity additions. The guidance assumes a continued 28-30% annual distribution growth through 2017 driven by Antero Resources' 40%+ production growth target, establishing AM's business model is tied to Antero's strong production growth.
J.p. morgan 2017 energy equity conference finalDenbury
- Denbury is an oil and gas company focused on CO2 enhanced oil recovery (CO2 EOR) projects in the Gulf Coast and Rocky Mountain regions of the US.
- CO2 EOR has the potential to recover billions of barrels of oil nationally left behind by traditional oil recovery methods and can recover up to 20% of original oil in place.
- Denbury owns extensive CO2 reserves and pipelines in the Gulf Coast that support current and potential CO2 EOR projects across multiple oil fields, with over 150 million barrels already produced from CO2 EOR.
The document summarizes the implications of the North American energy revolution for rail transportation. It discusses how new extraction technologies have led to surging domestic production of oil, gas and NGLs, displacing many imports. This has led to growth in crude-by-rail as production outpaced pipeline capacity, especially for Bakken crude moving to refineries. It forecasts crude-by-rail volumes remaining stable as pipelines are built out slowly, and prices expected to rebound after a challenging 2015 enables continued production growth and frac sand/crude-by-rail demand.
Oil Price Drastic Fall Is Not Felt as Drastically at Pump-MAC Energy AdvisorsLachlan McLeod
- While oil prices have fallen significantly since mid-2014, retail gasoline prices have fallen by a smaller amount, reacting more slowly to declining oil prices than rising prices.
- Multiple factors between the crude oil and retail gasoline stages contribute to this effect, including costs imposed by extraction, transportation, refining, distribution, taxes and profit margins.
- Similarly, retail electricity prices do not always fluctuate directly with natural gas spot prices due to long-term contracts that fix prices months in advance, as well as regulatory factors.
This document provides an overview of Crestwood Midstream Partners LP and Crestwood Equity Partners LP. It discusses the company's 2016 outlook, key investor highlights, cost cutting measures, capital structure, core operations in the Bakken shale play, and its COLT Hub facility. The presentation aims to position Crestwood favorably in the current challenging energy market environment through stable cash flow, high contract coverage, expense reductions, and operations in top producing regions.
el paso 03_27Leland_CreditSuisse_FINAL(Web)finance49
The document provides an overview of El Paso Corporation, including its two core businesses of interstate pipelines and exploration and production. It summarizes El Paso's leading pipeline network in North America, well-positioned assets, committed growth backlog approaching $4 billion, and focus on sustainable long-term growth through pipeline infrastructure investments and 8-12% annual production growth from E&P. The document also reviews El Paso's leveraged finance position and management of capital costs for major projects.
The document discusses Crestwood Midstream Partners LP and Crestwood Equity Partners LP. It provides an overview of the companies, highlights of their strategies and growth outlook. Crestwood has assets positioned in key oil and gas basins with growing production, including the Bakken, Delaware Basin and Powder River Basin. The company expects volume growth across its areas to drive mid-teen earnings and cash flow growth over the next three years. Crestwood's visible project backlog is expected to increase its adjusted EBITDA from $400-$420 million currently to over $550 million by 2020.
Company website presentation (c) february 2017AnteroResources
The document provides an overview of Antero Resources Corporation. It contains forward-looking statements regarding estimates, plans, expectations and guidance. It also cautions that actual results could differ materially from forward-looking statements due to risks and uncertainties. The document then provides details on Antero's market capitalization, reserves, production, acreage position, and drilling inventory to support long-term growth plans. Antero has over 8,000 potential drilling locations that provide multi-year development opportunities on its large, consolidated acreage position in the Marcellus and Utica shale plays.
Denbury Resources is an oil and gas company focused on enhanced oil recovery using carbon dioxide flooding. It operates in the Gulf Coast and Rocky Mountain regions of the United States. Denbury has over 1 billion barrels of proved and potential reserves that could be recovered through CO2 flooding. The company aims to grow its reserves and production through organic projects while maintaining spending within cash flows. Denbury also seeks to increase the sustainability of its operations by annually injecting millions of tons of industrial carbon dioxide into its oil reservoirs.
The document provides an overview of Antero Resources Corporation. It notes that the company has a market capitalization of $8.5 billion and net production of 1,875 MMcfe/d. It also contains forward-looking statements regarding Antero's estimates and plans. These include estimates of reserves, production growth targets, drilling plans, and expected realized natural gas prices. The document highlights Antero's leading well economics in the Marcellus, including lower costs and higher estimated ultimate recoveries. It also summarizes Antero's substantial natural gas hedge portfolio, which locks in prices significantly above current strip.
This document provides information about EOG Resources, Inc. (EOG), an oil and gas exploration and production company. It lists EOG's stock symbol and dividend, shares outstanding, and investor relations contacts. It also contains cautionary statements about forward-looking estimates and reserves, describes EOG's strategy of focusing on high-return oil growth through premium drilling locations and technological advantages, and provides production and well performance data to demonstrate EOG's leading position.
This document provides an earnings presentation by Sandridge Energy for Q3 2016. It includes cautionary statements about forward-looking projections. The presentation summarizes Sandridge's operational strategy of focusing on high-return projects from its Mid-Continent assets while diversifying into long-term growth from its large North Park Niobrara position. It provides details on improved drilling economics in both areas, highlighting initial positive results from extended laterals in the Niobrara. The presentation also outlines Sandridge's reorganized capital structure and liquidity following its bankruptcy restructuring and concludes with operational and capital expenditure guidance for 2016.
This document provides an investor presentation for Crestwood Midstream Partners LP and Crestwood Equity Partners LP. It highlights the company's strategies to deliver increased distributable cash flow per unit through 2021 by focusing on self-funded growth projects in key basins like the Bakken, Delaware Basin, and Powder River Basin. The presentation shows Crestwood's forecasted adjusted EBITDA and distribution coverage ratio growth through 2020, driven by its portfolio of organic expansion projects across these core areas.
This document provides contact information for Devon Energy's investor relations team. It also contains standard legal disclaimers about forward-looking statements and the use of non-GAAP financial measures in company presentations. The rest of the document summarizes Devon's operations, highlighting its high-quality asset portfolio, strong financial position, and focus on capital discipline and returns. It provides details on key growth opportunities in the STACK and Delaware Basin plays.
Celp investor presentation march 2017 finalCypressEnergy
Cypress Energy Partners provides pipeline inspection and integrity services as well as water and environmental services to midstream energy customers. Over 85% of its customers are investment grade companies. It inspects over 46,000 miles of pipelines annually using in-line inspection tools to identify anomalies, and performs over 12,000 excavations for further inspection or maintenance. Regulations require pipeline operators to inspect lines every 5-7 years, providing a recurring need for Cypress' inspection services over the 40-60 year lifespan of pipelines.
Celp investor presentation november 2016CypressEnergy
Cypress Energy Partners provides pipeline inspection and integrity services as well as water and environmental services to midstream energy customers. The document discusses how regulations are driving increased demand for their pipeline inspection services as regulations expand the scope and frequency of inspections required. It also notes that their water disposal facilities have significant unused capacity, representing an opportunity to generate more revenue without additional capital expenditures by utilizing existing capacity.
Denbury Resources provides a presentation on their company and operations. Some key points:
- They operate CO2 enhanced oil recovery in two core regions: the Gulf Coast and Rocky Mountain regions.
- In these regions they have significant CO2 reserves and pipeline infrastructure to support CO2 EOR projects.
- Their 2016 proved oil reserves were 254 MMBOE, with potential to recover up to 900 MMBOE total from their fields using CO2 EOR.
- They provide updates on recent acquisitions of the Salt Creek and West Yellow Creek fields, which are expected to replace 2017 production.
- Denbury also revises their 2017 capital budget down to $250 million and production guidance up slightly to 60-
An updated PowerPoint presentation summarizing CONSOL's second quarter 2016 operating and financial status. CONSOL has largely completed a transition from coal company to natural gas driller--focused on the Marcellus and Utica Shale region.
PLG Consulting Appalachian logistics League May 5, 2015PLG Consulting
PLG president, Taylor Robinson spoke on May 5, 2015 at the 65th annual Appalachian Logistics League meeting. Mr. Robinson presentedThe North American Energy Revolution: The Implication for Logistics. The meeting was an opportunity for members to network and discuss the ever changing industry of Supply Chain and Logistics with a primary focus on the impacts to the region.
2015 Energy Efficiency Forum: Shape What’s Next | ICF International KeynoteICF
Interact with a portion of a keynote presentation given by Phil Mihlmester, Executive Vice President of Global Energy at ICF International, at the 2015 Energy Efficiency Forum: Shape What’s Next. Review highlighted trends within the oil & gas markets and solar and their impacts on price fluctuations and efficiency. The Forum, an invitation-only event, was held in Scottsdale, Arizona, March 25 - 27, 2015, and brought together utility executives and energy industry leaders from across the United States to discuss strategic issues facing this sector.
For more of ICF’s perspectives on energy, we recommend:
Collapsing Oil Prices|Strategies & Opportunities: An ICF webinar archive that presents implications, strategies, and opportunities in the oil, natural gas, and natural gas liquids (NGL) markets due to the recent changes in oil prices.
http://www.icfi.com/insights/webinars/2015/recording-collapsing-oil-prices-strategies-and-opportunities
The True Value of Solar: An ICF white paper that examines the current state of value of solar (VOS) analysis and proposes a more holistic methodology that can be consistently applied across various utility service areas.
http://www.icfi.com/insights/white-papers/2014/true-value-of-solar
Denbury Resources is an oil and gas company focused on CO2 enhanced oil recovery. It owns over 1,100 miles of CO2 pipelines and has access to large CO2 reserves. Denbury estimates there is potential to recover up to 16 billion gross barrels using CO2 EOR in its operating areas in the Gulf Coast and Rocky Mountain regions. The company is focusing on reducing costs and debt in response to low oil prices. It has significantly improved CO2 efficiency and reduced cash operating costs per barrel. Denbury has ample CO2 supply for several years with no major capital required.
The document provides an overview of Crestwood Midstream Partners LP and Crestwood Equity Partners LP. It discusses key investor highlights including 2016 outlook and adjusted EBITDA guidance of $490-520 million. It also summarizes the company's capital structure, debt maturity profile, and operational updates in core areas like the Bakken shale play.
The document provides an overview of forward-looking statements and guidance for Antero Midstream Partners LP. It summarizes that AM expects adjusted EBITDA of $180-190 million and distributable cash flow of $160-170 million for 2015. It also outlines AM's guidance for expansion of its low and high pressure pipelines and compression capacity additions. The guidance assumes a continued 28-30% annual distribution growth through 2017 driven by Antero Resources' 40%+ production growth target, establishing AM's business model is tied to Antero's strong production growth.
J.p. morgan 2017 energy equity conference finalDenbury
- Denbury is an oil and gas company focused on CO2 enhanced oil recovery (CO2 EOR) projects in the Gulf Coast and Rocky Mountain regions of the US.
- CO2 EOR has the potential to recover billions of barrels of oil nationally left behind by traditional oil recovery methods and can recover up to 20% of original oil in place.
- Denbury owns extensive CO2 reserves and pipelines in the Gulf Coast that support current and potential CO2 EOR projects across multiple oil fields, with over 150 million barrels already produced from CO2 EOR.
The document summarizes the implications of the North American energy revolution for rail transportation. It discusses how new extraction technologies have led to surging domestic production of oil, gas and NGLs, displacing many imports. This has led to growth in crude-by-rail as production outpaced pipeline capacity, especially for Bakken crude moving to refineries. It forecasts crude-by-rail volumes remaining stable as pipelines are built out slowly, and prices expected to rebound after a challenging 2015 enables continued production growth and frac sand/crude-by-rail demand.
Oil Price Drastic Fall Is Not Felt as Drastically at Pump-MAC Energy AdvisorsLachlan McLeod
- While oil prices have fallen significantly since mid-2014, retail gasoline prices have fallen by a smaller amount, reacting more slowly to declining oil prices than rising prices.
- Multiple factors between the crude oil and retail gasoline stages contribute to this effect, including costs imposed by extraction, transportation, refining, distribution, taxes and profit margins.
- Similarly, retail electricity prices do not always fluctuate directly with natural gas spot prices due to long-term contracts that fix prices months in advance, as well as regulatory factors.
This document provides an overview of Crestwood Midstream Partners LP and Crestwood Equity Partners LP. It discusses the company's 2016 outlook, key investor highlights, cost cutting measures, capital structure, core operations in the Bakken shale play, and its COLT Hub facility. The presentation aims to position Crestwood favorably in the current challenging energy market environment through stable cash flow, high contract coverage, expense reductions, and operations in top producing regions.
el paso 03_27Leland_CreditSuisse_FINAL(Web)finance49
The document provides an overview of El Paso Corporation, including its two core businesses of interstate pipelines and exploration and production. It summarizes El Paso's leading pipeline network in North America, well-positioned assets, committed growth backlog approaching $4 billion, and focus on sustainable long-term growth through pipeline infrastructure investments and 8-12% annual production growth from E&P. The document also reviews El Paso's leveraged finance position and management of capital costs for major projects.
The document discusses Crestwood Midstream Partners LP and Crestwood Equity Partners LP. It provides an overview of the companies, highlights of their strategies and growth outlook. Crestwood has assets positioned in key oil and gas basins with growing production, including the Bakken, Delaware Basin and Powder River Basin. The company expects volume growth across its areas to drive mid-teen earnings and cash flow growth over the next three years. Crestwood's visible project backlog is expected to increase its adjusted EBITDA from $400-$420 million currently to over $550 million by 2020.
Company website presentation (c) february 2017AnteroResources
The document provides an overview of Antero Resources Corporation. It contains forward-looking statements regarding estimates, plans, expectations and guidance. It also cautions that actual results could differ materially from forward-looking statements due to risks and uncertainties. The document then provides details on Antero's market capitalization, reserves, production, acreage position, and drilling inventory to support long-term growth plans. Antero has over 8,000 potential drilling locations that provide multi-year development opportunities on its large, consolidated acreage position in the Marcellus and Utica shale plays.
Denbury Resources is an oil and gas company focused on enhanced oil recovery using carbon dioxide flooding. It operates in the Gulf Coast and Rocky Mountain regions of the United States. Denbury has over 1 billion barrels of proved and potential reserves that could be recovered through CO2 flooding. The company aims to grow its reserves and production through organic projects while maintaining spending within cash flows. Denbury also seeks to increase the sustainability of its operations by annually injecting millions of tons of industrial carbon dioxide into its oil reservoirs.
The document provides an overview of Antero Resources Corporation. It notes that the company has a market capitalization of $8.5 billion and net production of 1,875 MMcfe/d. It also contains forward-looking statements regarding Antero's estimates and plans. These include estimates of reserves, production growth targets, drilling plans, and expected realized natural gas prices. The document highlights Antero's leading well economics in the Marcellus, including lower costs and higher estimated ultimate recoveries. It also summarizes Antero's substantial natural gas hedge portfolio, which locks in prices significantly above current strip.
This document provides information about EOG Resources, Inc. (EOG), an oil and gas exploration and production company. It lists EOG's stock symbol and dividend, shares outstanding, and investor relations contacts. It also contains cautionary statements about forward-looking estimates and reserves, describes EOG's strategy of focusing on high-return oil growth through premium drilling locations and technological advantages, and provides production and well performance data to demonstrate EOG's leading position.
This document provides an earnings presentation by Sandridge Energy for Q3 2016. It includes cautionary statements about forward-looking projections. The presentation summarizes Sandridge's operational strategy of focusing on high-return projects from its Mid-Continent assets while diversifying into long-term growth from its large North Park Niobrara position. It provides details on improved drilling economics in both areas, highlighting initial positive results from extended laterals in the Niobrara. The presentation also outlines Sandridge's reorganized capital structure and liquidity following its bankruptcy restructuring and concludes with operational and capital expenditure guidance for 2016.
This document provides an investor presentation for Crestwood Midstream Partners LP and Crestwood Equity Partners LP. It highlights the company's strategies to deliver increased distributable cash flow per unit through 2021 by focusing on self-funded growth projects in key basins like the Bakken, Delaware Basin, and Powder River Basin. The presentation shows Crestwood's forecasted adjusted EBITDA and distribution coverage ratio growth through 2020, driven by its portfolio of organic expansion projects across these core areas.
This document provides contact information for Devon Energy's investor relations team. It also contains standard legal disclaimers about forward-looking statements and the use of non-GAAP financial measures in company presentations. The rest of the document summarizes Devon's operations, highlighting its high-quality asset portfolio, strong financial position, and focus on capital discipline and returns. It provides details on key growth opportunities in the STACK and Delaware Basin plays.
Celp investor presentation march 2017 finalCypressEnergy
Cypress Energy Partners provides pipeline inspection and integrity services as well as water and environmental services to midstream energy customers. Over 85% of its customers are investment grade companies. It inspects over 46,000 miles of pipelines annually using in-line inspection tools to identify anomalies, and performs over 12,000 excavations for further inspection or maintenance. Regulations require pipeline operators to inspect lines every 5-7 years, providing a recurring need for Cypress' inspection services over the 40-60 year lifespan of pipelines.
Celp investor presentation november 2016CypressEnergy
Cypress Energy Partners provides pipeline inspection and integrity services as well as water and environmental services to midstream energy customers. The document discusses how regulations are driving increased demand for their pipeline inspection services as regulations expand the scope and frequency of inspections required. It also notes that their water disposal facilities have significant unused capacity, representing an opportunity to generate more revenue without additional capital expenditures by utilizing existing capacity.
Cypress Energy Partners provides essential midstream services including pipeline inspection and integrity services as well as water and environmental services. The presentation discusses the large and growing market for pipeline inspection services driven by aging infrastructure and increased regulations. It highlights Cypress Energy Partners' inspection subsidiaries and the diversity of their over 200 customers, more than 85% of which are investment grade. The company has opportunities to expand organically through unused disposal capacity and leveraging recent acquisitions, as well as potentially through additional acquisitions and dropping down assets allowed under its broad private letter ruling.
Peter C. Boylan III is the Chairman and CEO of Cypress Energy Partners (CELP). The presentation discusses CELP's pipeline inspection and integrity services business (TIR) and its water and environmental services business, which includes 11 owned saltwater disposal facilities. CELP completed an acquisition in February 2015 and announced its Q4 dividend would remain unchanged. The presentation outlines CELP's vision to build a diversified MLP and highlights growth opportunities across qualifying activities under its private letter ruling, including produced water handling.
Cypress Energy Partners provides essential midstream services to the energy industry, including pipeline inspection and integrity services as well as water and environmental services. The presentation discusses Cypress's business lines, highlights that over 85% of revenues come from investment grade customers, and notes opportunities for continued growth from increased regulation and oversight driving demand for its services. It also summarizes that Cypress has a track record of acquisitions and distribution growth while maintaining a strong balance sheet.
The document provides an overview of Cypress Energy Partners, L.P., which offers water and environmental services and pipeline inspection and integrity services to energy companies. It notes that increased U.S. oil and gas production is driving greater demand for saltwater disposal and pipeline inspection. Cypress owns saltwater disposal facilities and has a stake in a pipeline inspection business. The document highlights several growth drivers in the company's end markets like increasing production volumes, water usage, and regulatory scrutiny pushing outsourcing of waste services to specialists.
Company website presentation (c) october 2014AnteroResources
- Antero Resources is a pure play company focused on developing natural gas and oil resources in the Marcellus and Utica Shales.
- As of June 30, 2014, Antero reported net proved reserves of 9.1 Tcfe and net 3P reserves of 37.5 Tcfe across its acreage positions.
- Antero has invested over $1.6 billion in midstream infrastructure including gathering lines, compressor stations, and fresh water distribution systems to support its production and operations.
Company website presentation (c) october 2014AnteroResources
- The company overview document discusses Antero Resources, a natural gas exploration and production company focused on the Marcellus and Utica Shale plays.
- Antero has significant reserves of 37.5 trillion cubic feet of gas equivalents across its acreage, along with high growth production that increased 91% year-over-year in the third quarter of 2014.
- The company has invested heavily in midstream infrastructure like processing plants and pipelines to efficiently develop its production and access favorable gas markets.
The investor presentation issued by Magnum Hunter in September 2013. We believe this slide deck, or one very similar to this one, was used at the IPAA Oil & Gas Investment Symposium in San Francisco where MH CEO Gary Evans spoke. Slides #13-#27 are of interest to Marcellus Drilling News readers as they deal with MH's Marcellus and Utica Shale drilling operations and future plans. Some great charts, maps and pictures of operations in the Marcellus and Utica Shale!
This presentation by Barry Davis, President and CEO of NAPTP, provides an overview of NAPTP and forward-looking statements. It discusses non-GAAP financial measures used by EnLink Midstream such as adjusted EBITDA, gross operating margin, and segment cash flows. It then summarizes EnLink Midstream's assets including gas gathering pipelines, processing plants, NGL transportation and fractionation facilities. Finally, it provides brief biographies of members of EnLink Midstream's management team.
2014 05-16 update on may 2014 mlp conference v5CypressEnergy
The document provides an overview of Cypress Energy Partners, L.P., which operates in two segments: pipeline inspection and integrity services (PI&IS), and water and environmental services (W&ES). PI&IS provides pipeline inspection and integrity services through Tulsa Inspection Resources. W&ES owns and operates saltwater disposal facilities and provides water handling services to oil and gas producers. Cypress has facilities in active regions like the Bakken and Permian basins. The document discusses the companies, markets, competitive landscape, growth opportunities, and highlights increasing production and regulation driving demand for both segments.
Greg Garland, Chairman and CEO of Phillips 66, discussed the company's accomplishments in 2014 and outlook. Key points included executing a $4 billion capital program, returning $4.7 billion to shareholders, and increasing the dividend rate by 28%. Garland projected over 30% growth in adjusted EBITDA by 2018 through expanding midstream and chemicals businesses. He emphasized Phillips 66's commitment to growing distributions and maintaining a strong balance sheet.
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This document discusses Propell Technologies Group, an oil and gas company that has licensed plasma pulse technology for enhanced oil recovery. The technology uses controlled plasma arcs to generate hydraulic impulse waves that clear perforation zones and increase permeability. It has been successfully used in over 200 wells in Russia and China, showing initial production increases of 87-100%. Propell has also seen success treating 27 wells in the US, with average initial production increases of 295%. The document outlines the company's management team, intellectual property, commercial applications, revenue models, and market opportunity for the plasma pulse EOR technology in the US.
Investor presentation posted on Marcellus/Utica driller Eclipse Resources' website--loaded with charts and maps and very useful information. The map/chart on page 23 is particularly interesting. It shows all of the Utica wells drilled by Eclipse to date, color coded by the "zone" where the well was drilled, and with production information.
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Similar to 2017 CELP June Investor Presentation (20)
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2. 2
Forward Looking Statements Disclosure
Some of the statements in this presentation concerning future performance are forward-looking within the meaning of
U.S. securities laws. Forward-looking statements discuss the Company’s future expectations, contain projections of
results of operations or of financial condition, forecasts of future events or state of other forward-looking information.
Words such as “may,”, “assume,” “forecast,” “position,” “forecast,” “position,” “strategy,” “except,” “intend,” “plan,”
“estimate,” “anticipate,” “believe,” “project,” “budget,” “potential,” or “continue,” and similar expressions are used to
identify forward-looking statements. Forward-looking statements may include statements that relate to, among other
things, availability of cash flow to pay minimum quarterly distributions on the Company’s common units; the
consummation of financing, acquisition or disposition transactions and the effect thereof on the Company’s business;
the Company’s existing or future indebtedness and credit facilities; the Company’s liquidity, results of operations and
financial condition, future legislation and changes in regulations or governmental policies or changes in enforcement
or interpretations thereof; changes in energy policy; increases in energy conservation efforts; technological advances;
volatility in the capital and credit markets; the impact of worldwide economic and political conditions; the impact of
wars and acts of terrorism; weather conditions or catastrophic weather-related damage; earthquakes and other natural
disasters; unexpected environmental liabilities; the outcome of pending or future litigation; and other factors, including
those discussed in “Risk Factors” section of our annual report on Form 10-K. Except for historical information
contained in this presentation, the matters discussed in this presentation include forward-looking statements that
involve risks and uncertainties. The Company does not undertake and specifically declines any obligation to publicly
release the results of any revisions to these forward-looking statements that may be made to reflect any future events
or circumstances after the date of such statements or to reflect the occurrence of anticipated and unanticipated events.
Forward-looing statements are not guarantees of future performance or an assurance that the Company’s current
assumptions or projects are valid. Actual results may differ materially from those projected. You are strongly
encouraged to closely consider the additional disclosures and risk factors contained in the prospects.
3. 3
Cypress Energy Partners, L.P. (NYSE: CELP) – Overview
Pipeline Inspection (PIS) & Integrity (IS) Services
Pipelines are an essential part of our energy
infrastructure and required to transport
hydrocarbons from the wellhead to various users
Pipelines are regulated by DOT and require
inspection and integrity services
Two business units:
‒ Tulsa Inspection Resources, LLC (TIR) - > 1,200
inspectors and access to over 16,000+ inspectors
‒ Brown Integrity, LLC: (Brown) Integrity
assessment hydro testing (51% owned)
‒ Services cover most energy infrastructure including:
oil, gas, NGLs, refined products, CO2, Local
Distribution Companies (“LDCs”) / Public Utility
Companies (“PUCs”), storage, gas plants,
compressor stations, etc.
A portion of our business enjoys recurring revenue
opportunities associated with maintenance, repair &
operations (MRO) activities
Saltwater is a naturally occurring byproduct of the oil
and gas production process that must be properly
handled to protect the environment
Saltwater disposal is also regulated by states & EPA
CELP has 11 owned saltwater disposal (SWD) facilities
‒ Avg. disposal volume of ~ 30k1 barrels/day or
~ 13.3 MM TTM barrels (25% utilized)
‒ Annual injection capacity of ~ 53 million barrels
without any incremental capital expenditures.
‒ 99% of our volumes are produced and piped water
(not flowback, which is tied to new drilling)1
‒ We receive water via (9) midstream pipelines
directly from oil & gas wells owned by investment
grade energy companies into 5 of our facilities.
We also manage and own 25% of another Bakken facility
We do not own or operate in Oklahoma because we
understood seismic risk long before the substantial media
coverage of earthquakes in known fault areas.
Water & Environmental Services (W&ES)
We strive to be the premier midstream energy services company in markets we service.
Safety is a top priority and CELP enjoys an excellent rating
1 Three months ended March 31, 2017.
4. Produced water focus: Occurs
for the life of oil & gas wells
~ 99% of water in Q1 was
produced water
> 8,000 drilled uncompleted wells
(“DUC’s”) will lead to growth
Required services: Natural gas,
crude, CO2, and other liquid
pipelines must be regularly
inspected pursuant to various laws
Many states considering enacting
even more stringent inspection
requirements
Fixed-fee model: We charge a
fixed-fee or daily rate for most
services
over 85% of total revenues and
> 90% of inspection revenues are
from investment grade customers
Piped water growth: Pad
drilling, down spacing
~ 52% of Q1 water was piped
9 pipelines (5 Bakken, 4 Permian)
Investment grade energy
customers on each pipeline.
Increased Regulatory oversight:
Drives demand
High profile incidents encourage
greater investment in integrity
Potential mandatory hydrotesting
under consideration of pre-1970
gas lines
Diversity: Our strategy is to offer
services in US and Canada and be
diversified across oil and natural
gas sources
~ 200 customers across North
America
Growing number of PUC’s
Total volumes: Q1 we disposed
of ~ 30K barrels per day vs. over
135K barrels per day of capacity,
or 25% utilization.
Resilient business: Lower
correlation to commodity prices
PUC’s not exposed to oil prices
Brown Integrity: We own 51%
of a hydrotesting company with a
right to acquire the remaining
49%.
4
All Business Lines Are Required By Government Regulations
Essential Services
Water &Environmental
Required Services
Pipeline Inspection & Integrity
Stability, Diversity, Growth
CELP
5. 5
> 85% of our Customers are Investment Grade
125+ customers in the U.S.
E&P companies
- Permian
- Bakken
Midstream Pipelines
Trucking companies that serve
oil & gas producers
Crude oil purchasers
Water & Environmental Pipeline Inspection Pipeline Integrity
Pipeline Inspection & Integrity ServicesWater & Environmental
150+ customers in North America – a majority are investment grade
publicly-traded companies
‒ Midstream companies
‒ Oil & gas or E&P producers with infrastructure/systems/etc.
‒ LDC’s and/or PUCs that provide natural gas to customers
We have only scratched the surface. Our available market is well over
1,000 energy companies that have infrastructure requiring inspection.
We have over 160 MSA’s and added over 40 new customers in 2016 and
21 new customers in Q1 2017.
6. 6
Customers Finally Increasing Capital Spending
Even with the 2017 recovery, capital spending still down by nearly half from 2013 to 2017
Three years of investment cutbacks by the global oil and gas industry have resulted in austerity of unprecedented
proportions.
2016 global oilfield cuts averaged a stunning 33%.
US is up over 50+% while international is showing only single digit recovery.
Initial budgets in the survey are subject to revision
‒ Generally in an upward direction, particularly in the U.S.
1 Raymond James “Energy Stat of the Week” – April 3, 2017.
7. Total US Rigs Baker Hughes +/- 1wk +/- 4wk +/- 1yr Δ Peak Δ Trough
901 + 16 + 44 + 497 - 1,030 + 497
Permian 361 + 4 + 21 + 224 - 195 + 224
Eagle Ford 85 + 2 + 7 + 54 - 122 + 56
Woodford 62 - - 1 + 30 + 12 + 30
Haynesville 40 + 1 + 3 + 26 - 6 + 25
Granite Wash 10 - 1 - + 6 - 56 + 4
Barnett 7 + 1 + 1 + 5 - 15 + 5
Fayetteville 1 - - + 1 - 8 + 1
DJ-Niobrara 23 - 2 - 2 + 10 - 40 + 10
Mississippian 9 + 3 + 1 + 6 - 68 + 6
Williston 44 - - + 21 - 154 + 22
Marcellus 45 + 2 - 1 + 19 - 35 + 19
Utica 25 + 1 + 2 + 15 - 19 + 14
Other 189 + 5 + 13 + 80 - 324 + 81
Source: Baker Hughes (5/19/17)
556
207
63
198
124
137
29
13
22
37
229
38
18
34
53
361
85
23
44
70
– 100 200 300 400 500 600
Permian
Eagle Ford
DJ-Niobrara
Williston
Marcellus / Utica
164%
77%
100%
193%
89%
Peak, Sep-14
Trough, May-16
Nov-16
5/19/17
US Rig Countin KeySelectedRegions
1,593
338
317
87
472
116
721
180
– 200 400 600 800 1,000 1,200 1,400 1,600 1,800
CrudeOil
Natural Gas
US Rig Countby Commodity(2)
107%
Peak, Sep-14
Trough, May-16
Nov-16
5/19/17
127%
1,347
373
211
314
46
44
470
66
52
759
76
66
– 200 400 600 800 1,000 1,200 1,400 1,600
Horizontal
Vertical
Directional
142%
65%
50%
Peak, Sep-14
Trough, May-16
Nov-16
5/19/17
US Rig Countby Trajectory
Δ since trough
Δ since trough
Δ since trough
7
Rig Count & Productivity Per Well Continues to Improve
The US rig count increased by 16 rigs last week, bringing the
active rig count to 901 as of 5/19/17, and 44 rigs have been placed
in service over the past four weeks
Rig count has increased 18 weeks straight since 1/20/17
497 rigs have been added since trough (404 rigs) on 5/27/16
(+123%)
Rigs down 53%, or 1,030 rigs, from Sep-14 peak of 1,931
The Permian basin has out paced the other basins over the past 4
weeks, accounting for 21 of the 44 rigs added
(1) Represents US rig count, including offshore rigs. Peak & trough rig count represent peak & trough total rigs since 1/1/14, (not by basin).
(2) Rigs categorized as "Miscellaneous" in Baker Hughes are included in "Crude Oil" category.
8. 8
DAPL Will Benefit ND Customers & Cypress
DAPL will drive additional
production in the Williston
Adds 60+% more pipeline
takeaway capacity
Reduces producers’breakeven by
$5+ per barrel vs. rail
820+ DUCs in North Dakota
44 active rigs in the Williston
Positioned to capture increased
demand for water disposal
Demand for water disposal will
increase with new production
7 facilities located near high
production areas
Existing relationships with blue
chip producers
9 of our SWD’s are located in
the Bakken.
DAPL + ETCOP
Williston to Patoka, IL
470 MBPD, expandable to 570 MBPD
450+ MBPD take or pay commitments
Planned takeaway projects
TransCanada Upland – 300 MBPD, 2020
Connects into Keystone pipeline in Saskatchewan
The Bakken has seen a subdued growth in rig count as a combination of a
large DUC backlog (821 per EIA in April) and constrained balance sheets
(3.1x net debt /EBITDA on average at strip in 2017) keep companies from
accelerating more aggressively. (Tier 1 average w/enhanced fracs are some
of the best in the US) allow companies to add incremental capital to the drill
bit. The basin also produces crude, which is more desirable for refiners than
other plays as the average API tends to trend towards 40-45, with lighter
barrels only produced around central McKenzie and Williams. Source: TPH
Energy Research.
9. Initial
Assessment
(baseline)
Risk
Assessment
Data
Review
Remediation
Record
Retention /
Documentation
9
The Typical Life Cycle of a Pipeline
40-60 year expected life
------------------------------------------
Require inspection and integrity
services for the entire life cycle
------------------------------------------
PHMSA Required Testing:
Liquids Pipelines: 5 years
Gas Pipelines: 7 years
------------------------------------------
Prudent Operator
------------------------------------------
State requirements continue to
vary and evolve
New Construction
New Construction Services
Integrity Management Program
Current Services
• Right-of-way acquisitions (limited)
Potential Services
• Barcode scanning
• Nitrogen services
• Water & Solid waste services
• Chemical cleaning
• Survey
Current Services
• Hydrostatic testing
• Chemical cleaning
• External corrosion direct assessment
• Pig tracking
• Dig staking
• Inspection
• NDE
Potential Services
• In-line inspection (ILI) pig
• Close internal surveys (CIS)
• Maintenance pigging – supplyhouse
• Leak detection surveys
• Chemicals and nitrogen services
• Water & Solid waste services
• Aerial surveillance
10. 10
PIS – Our Midstream Pipeline Services
Federal and some state regulations require pipeline
operators to develop integrity management programs and
conduct inspections, with operators outsourcing elements
Indicates business activity performed by our PI&IS business
Wellhead Gathering
Systems
Processing /
Treating Facilities
End
Users
Pipelines / Transportation
Lines / Storage Facilities
Inspection Service PI&IS
In-line Inspection
Smart pigs & various ILI technologies
Pig tracking
Integrity Assessment
Hydrostatic testing
Pneumatic pressure testing
Other Non-destructive Examination (NDE) Inspection
Visual / LIDAR
X-ray
Ultrasonic
Data & Integrity Program Management Services
Smart pig and other NDE inspection data
Anomaly & above ground marker (AGM) reports
Automated dig sheet generation
Chemicals
Staking Services
AGM placement
Dig site staking
Construction & Repair Management
Project supervision & coordination of field activities
Dig site excavation oversight
Defect assessments & mapping / surveying
Documentation
Nitrogen Services
Indicates potential expansion opportunity
11. 11
PIS Revenue Overview
How We Generate Revenue
Customers typically pay a daily or weekly rate per inspector and per diem expenses.
Revenues driven by the number and type of inspectors performing services and the fees charged
‒ Inspection services gross margins are ~10% and NDE and hydrotesting are > 20%
Numerous recurring revenue opportunities with maintenance, repair and operations (MRO) activities
The two year downturn impacted most of our customers leading to project delays and/or cancellations.
Presidential election & OPEC cuts positive for energy industry
Seasonal impact of headcounts results in ~ 56% of TIR’s activity historically occurring in the 3rd and 4th quarters
1 CAGR for period from 2011-2016
Average TIR Inspector Headcount
Even with the multi-year industry
downturn TIR enjoyed a 5 Year 13.6%
CAGR in Revenue growth1
1,506 1,470
1,130 1,083
200
700
1,200
1,700
1Q14
2Q14
3Q14
4Q14
1Q15
2Q15
3Q15
4Q15
1Q16
2Q16
3Q16
4Q16
1Q17
# inspectors
Headcount
145
234
380 382
342
275
62 67
$0
$100
$200
$300
$400
2011 2012 2013 2014 2015 2016 2017 -
Q1
2016 -
Q1
Revenue ($mm)
12. 12
Water Life Cycle in the Oil & Gas Industry
The five stages of the hydraulic fracturing water cycle. The stages (shown in the insets) identify activities involving water that support
hydraulic fracturing for oil and gas. Activities may take place in the same watershed or different watersheds and close to or far from
drinking water resources. Thin arrows in the insets depict the movement of water and chemicals. Specific activities in the “Wastewater
Disposal and Reuse” inset include (a) disposal of wastewater through underground injection, (b) wastewater treatment followed by
reuse in other hydraulic fracturing operations or discharge to surface waters, and (c) disposal through evaporation or percolation pits.
Source: EPA, Hydraulic Fracturing for Oil and Gas: Impacts from the Hydraulic Fracturing Water Cycle on Drinking Water Resources in the United States, December 2016
13. 13
O&G Industry Water Trends & Challenges
Demand Trends
O&G operations are increasingly more water intensive
Mining, including O&G, accounts for ~1% - 2% of total freshwater withdrawls.
Freshwater use in fracturing increased from 5,618 barrels to nearly 128,102 barrels per oil well and 162,906 barrels per gas well,
between 2008 and 2014. In 2017 we are seeing some Permian completions use over 600,000 barrels.
Increase in drilling activity
The Permian basin and other high water cut areas have the highest growth in drilling activity.
Increased use of brackish water
Almost 80% of water in many parts of Delaware side of the Permian Basin is sourced from brackish water (TRRC).
Increase reuse of water
Industry Challenges
Freshwater scarcity
Limited availability for large disposal volumes
Increased regulation, including quality testing and restricted disposal in areas with seismic activity
80% - 90% of water is reused in PA due to regulation, versus 10% - 20% industry wide.
OK has passed regulation limiting injections in identified seismic “areas of interest”.
14. 14
Water Services Opportunities
Increased water sourcing, treatment and disposal
Water demand per well continues to increase with
horizontal drilling and lateral lengths.
Drilling activity is increasing as prices recover and
production costs decline, driving higher demand for water
services.
Price increases due to scarcity of freshwater
sources and increasing limitation in water disposal
Approximately 10% to 30% of a well’s capital expenditure
is water related, while 40% to 55% of operating costs
come from produced water management and disposal.
Water disposal including trucking and injection, ranges
from $1 to $8 per barrel of water.
Infrastructure to support reuse of water
Barclays estimates that reusing produced water in fracking
operations could lower water costs by about 45% and save
over 300,000 barrels of freshwater per well, improving
company economics and the industry’s environmental
footprint, and enhancing security of supply.
Excludes transportation
costs for trucking, which
generally ranges from $1
to $3 per barrel.
15. 0
2,500
5,000
7,500
10,000
12,500
15,000
17,500
20,000
22,500
25,000
27,500
2007
2008
2009
2010
2011
2012
2013
2014
2015
2016
2017
North Dakota Texas
0
50
100
150
200
250
300
350
400
450
500
550
600
650
700
750
Jan-14
Mar-14
May-14
Jul-14
Sep-14
Nov-14
Jan-15
Mar-15
May-15
Jul-15
Sep-15
Nov-15
Jan-16
Mar-16
May-16
Jul-16
Sep-16
Nov-16
Jan-17
Mar-17
Permian-Drilled Permian-Completed
Bakken-Drilled Bakken-Completed
400
500
600
700
800
900
1,000
1,100
1,200
1,300
1,400
1,500
1,600
1,700
1,800
1,900
2,000
2,100
Jan-14
Mar-14
May-14
Jul-14
Sep-14
Nov-14
Jan-15
Mar-15
May-15
Jul-15
Sep-15
Nov-15
Jan-16
Mar-16
May-16
Jul-16
Sep-16
Nov-16
Jan-17
Mar-17
Permian Bakken
15
Texas:
− 4,436 onshore drilling permits filed in 2017
YTD (2)
North Dakota:
− 305 onshore drilling permits filed in 2017
YTD (2)
DUC Backlog by Play vs. Historical (1)
The backlog of DUCs has built up
substantially since mid-2014
EIA DUC estimates for April 2017:
− Permian: 1,995
− Bakken: 821
Drilling Permits by State (2)
(1) Source: EIA, 5/15/17.
(2) Source: Evercore Research (5/16/17). 2017 includes 1/1/17-5/12/17 only.
Drilled but Uncompleted Wells (DUCs) & Wells Drilled, Completed, Permitted
Number of wells being drilled outpacing
completions
Permian Jan. – Apr. 2017:
− 1,612 wells drilled ( 94% YoY)
− 1,136 completions ( 32% YoY)
Bakken Jan. – Apr. 2017 :
− 283 wells drilled ( 19% YoY)
− 252 completions ( 23% YoY)
Drilled & Completed by Play vs. Historical (1)
16. 16
W&ES – Business Overview & Opportunity
Significant
Unused
Capacity
How We
Generate
Revenue
We charge a fee per barrel for
disposal
Management fees for 3rd parties
Transportation fees for pipelines
(future)
Selling residual/skim oil recovered
Downturn led to an overbuilt market
that lowered pricing.
15-30% of an oil and gas well’s
operating cost is associated with
water handling1
Annual injection capacity of ~53 million bbls
Our facilities have more than 75% of available
capacity today
Represents substantial capacity to generate
more revenue and cash flow without any
additional capital expenditures
Utilization of existing capacity does not require
any incremental capital needs
DUC completions will greatly benefit us
Reeves County in Permian is very active
CELP SWD Facility Utilization
1 Source: Steven Mueller, Southwestern Energy CEO, Houston Strategy Forum
Unused
capacity,
>77%
Utilized
capacity,
<23%
$1.31 $1.27
$1.09 $1.07
$0.92 $0.77
$0.73
$0.68
$0.68 $0.66 $0.67 $0.68 $0.68
$0.00
$0.20
$0.40
$0.60
$0.80
$1.00
$1.20
$1.40
0
1
2
3
4
5
6
7
8
1Q14
2Q14
3Q14
4Q14
1Q15
2Q15
3Q15
4Q15
1Q16
2Q16
3Q16
4Q16
1Q17
mm barrels $/bbl
Water Statistics
Revenue per Barrel (right axis) Disposal Volumes (left axis)
17. 17
Significant Growth Opportunities w/ Supportive Sponsor
1 Right to acquire beginning Q2 2017
Utilize Unused
Capacity
(W&ES)
Expand
Inspection
Customer Base
(PIS)
Leverage
Hydrotesting
Acquisition
(IS)
Our broad PLR allows us to diversify into other businesses:
‒ Additional inspection services (ILI, pigging, LIDAR, nitrogen,
water & environmental and chemicals)
‒ Traditional midstream assets ( pipelines & storage)
‒ Remote sensing and monitoring
‒ Solids, recycling, oil reclamation, expanded geography
Brown Integrity Purchase Option
‒ Potential to purchase remaining 49% Brown interest1
Diversify Our
Business
Offering
Facilities are currently only ~ 23% utilized
‒ Requires no additional capital spending
‒ Capable of handling over 135K BPD or > 50MM annually
‒ Infill drilling will increase volumes
‒ Over 500 DUC’s waiting for completion within 15 miles
Expand TIR inspection customer base of 150+ clients
‒ Growing federal and state regulations
‒ New PHMSA proposed rules + CA
‒ Currently serve small subset of available market including
E&P, midstream, and LDC/PUC (1,000+ prospects)
Expand Brown Integrity to more states
‒ Brown operates in six states (vs. TIR in 47 states + Canada)
‒ Opportunity to expand breadth of services
‒ Chemical cleaning, nitrogen, water & environmental
AcquisitionsOrganic
18. 18
CELP History Timeline
2013 201620152014
Acquired Control of
TIR
June 2013
Acquired SWD
Bakken
December 2014
Acquired Remaining
49.9% of TIR
February 2015
CELP Quarterly Distribution History
2017
Cypress IPO
January 2014
Initial Cypress
Acquisitions of SWD’s
December 2012
IPO Price: $20.00
IPO Yield: 7.75%
Acquired 51% of
Brown Integrity
May 2015
Distribution Reduction
Announced
March 2017
0.00%
5.00%
10.00%
15.00%
20.00%
25.00%
$0.0
$5.0
$10.0
$15.0
$20.0
$25.0
$30.0
Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1
2014 2015 2016 2017Total Distributions (in MM) Average Unit Price Average Yield
5-15-17 Price: $7.61
5-15-17 Yield: 11.04%
20. (80%)
(60%)
(40%)
(20%)
-
20%
40%
Jan-14 Apr-14 Jul-14 Oct-14 Jan-15 Apr-15 Jul-15 Oct-15 Jan-16 Apr-16 Jul-16 Oct-16 Jan-17 Apr-17
CELP AMZ WTI
CELP, AMZ and WTI Performance – IPO Through 5-15-17
20
Our General Partner Has Been Supportive During Downturn
CELP has managed downturn better than many companies. Inspection & Integrity Services have become dominant
portion of company’s operating income while Water & Environmental has suffered from material decline in activity
and prices. The Bakken was hit harder than the Permian during the downturn.
Historical EBITDA and DCF has W&ES segment in all periods presented, PIS segment with 50.1% of TIR from IPO
through January 2015 and 100% TIR thereafter, IS segment with 51% of Brown from May 2015 forward.
Our General Partner has been a supportive sponsor. In 2016 & Q1-2017, the sponsor supported the unitholders with
temporary free relief of the administrative fee paid to CEH pursuant to the Omnibus Agreement, which would have
charged $1.0 million to CELP each quarters. An additional $2.5 million of cost reimbursements were also provided
free in the second and third quarters of 2016.
$30.00
$50.00
$70.00
$90.00
$110.00
$-
$2.0
$4.0
$6.0
$8.0
1Q14 2Q14 3Q14 4Q14 1Q15 2Q15 3Q15 4Q15 1Q16 2Q16 Q316 Q416 1Q17
Axis Title
Adjusted EBITDA / DCF / Distributions
Adjusted EBITDA (left axis) DCF (left axis) Distributions (left axis) WTI (right axis)
$ BBL$ MM
22. 22
2017 CELP EBITDA to DCF Reconciliation
Non-controlling interest activity represents the 49% of Brown Integrity (the IS segment) not owned by CELP as well
as the 51% of CF Inspection (a subsidiary within the PIS segment) not owned by CELP.
In Q1 we impaired Brown Integrity, creating some non-cash charges.
In Q1 2017, the sponsor supported the unitholders with temporary relief of the administrative fee paid to CEH
pursuant to the Omnibus Agreement, which would have charged $1.0 million to CELP in the quarter.
We have seen slow but steady progress through April and into May across all business segments with average
domestic inspector headcounts continue to improve and our higher margin NDE business is doing very well with a
growing backlog of opportunities.
EBITDA to DCF Reconciliation
U.S. Dollars in Thousands
YTD
3/31/17
Less: Attributable to GP
(YTD 3/31/17)
Attributable to
Partners (YTD
3/31/17)
Less: Attributable to
Other Non-Controlling
(YTD 3/31/17)
Attributable to
Limited Partners
(YTD 3/31/17)
Net Loss $ (4,921) $ (921) $ (4,000) $ (1,165) $ (2,835)
Plus:
D&A expense 1,432 - 1,432 142 1,290
Income Tax Expense (293) - (293) - (293)
Interest Expense 1,709 - 1,709 - 1,709
Impairments 3,598 - 3,598 775 2,823
Equity Based Compensation 357 - 357 - 357
GP Costs 921 921 - - -
Adjusted EBITDA 2,803 - 2,803 (248) 3,051
Less:
Cash Interest, Taxes & Maint. Capex 1,747 - 1,747 - 1,747
Distributable Cash Flow $ 1,056 $ - $ 1,056 $ (248) $ 1,304