Legacy Reserves LP provides a presentation to investors outlining its business overview and strategy. It discloses that it has grown through acquisitions to have over $2.5 billion in enterprise value and focuses on producing oil and natural gas properties in the Permian Basin, Rocky Mountains, and Mid-Continent regions. It also details its hedging strategy to reduce cash flow volatility and protect its borrowing base and distributions. Legacy highlights its track record of consistent distribution growth, low-decline producing assets, experienced management team, and conservative financial policies as key reasons for investment.
Legacy Reserves LP is an oil and natural gas MLP that owns producing properties focused in the Permian Basin, Mid-Continent, and Rocky Mountain regions. It has grown through acquisitions, completing over $1.6 billion in deals since 2006. It aims to reduce cash flow volatility and protect its borrowing base through hedging approximately 85% of estimated production over the next 18-24 months on a rolling basis. Key highlights include a high-quality, liquids-rich asset portfolio with 12.4 years of proved reserves to production, a track record of distribution growth, and a conservative financial and hedging policy.
- Devon Energy presented at the UBS Global Oil and Gas Conference on May 23, 2018.
- Devon outlined its 2020 vision which includes growing higher-value oil production in the Delaware and STACK areas, improving financial strength, and returning cash to shareholders.
- Key initiatives include a $1 billion share repurchase program, raising the dividend by 33%, and a $1 billion debt reduction plan.
Guyana Goldfields August 2012 Investor Presentationjwagenaar734
The presentation summarizes Guyana Goldfields' August 2012 investor presentation. It discusses the company's Aurora Gold Project in Guyana, South America, which contains over 6 million ounces of gold resources. A new leadership team is working to improve the project's economics through an updated bankable feasibility study focusing on staged development and optimized mining methods. The company has secured all necessary permits and is advancing infrastructure construction to become the next producing gold mine in Guyana.
The document presents an investment case for investing in palladium mining company North American Palladium. It notes that palladium prices are forecast to rise significantly due to strong demand fundamentals and constrained mine supply. Demand is expected to continue growing from the automotive sector, while mine production is concentrated in risky jurisdictions like Russia and South Africa and unable to keep up with demand. North American Palladium offers palladium production growth through mine expansion and has an experienced management team and prudent financial position to support further development.
1) The document is an investor presentation for Penn Virginia Corporation (PVA) that provides an overview of the company and its strategy.
2) PVA has transitioned its business strategy and capital investments toward oil and natural gas liquid plays like the Eagle Ford Shale, growing its oil production significantly.
3) The company aims to continue expanding its oil and liquids reserves and drilling inventory through continued development of the Eagle Ford and exploration of new oil prospects, while maintaining a conservative financial strategy and balance sheet.
Sage march 2013 investor presentation currentSagegold
Sage Gold's short term plan is to develop the existing resource at their Clavos deposit to generate cash flow through near term production. A Preliminary Economic Assessment shows a robust project with a 71% pre-tax IRR. Existing infrastructure and permits are in place to begin re-opening the Clavos mine in 2013. Sage also has a JV with St Andrew Goldfields providing access to a mill and existing underground development at the Clavos property in the prolific Timmins gold camp of Ontario. The updated NI43-101 shows indicated resources of 194,600 ounces and inferred resources of 120,000 ounces of gold at the Clavos deposit.
NAP's flagship LDI mine offers production growth potential through increasing mining rates and decreasing cash costs. The mine has excess mill and shaft capacity, and exploration upside remains. Palladium prices are expected to remain strong due to constrained mine supply and growing demand from automotive sector emissions regulations. NAP is well positioned to benefit from rising palladium prices as a primary producer.
- The document is a presentation for Las Vegas Sands' 4Q14 earnings call that discusses financial results and provides an investment case for the company.
- Key highlights from 4Q14 include adjusted EPS growth of 27.8% and consolidated adjusted property EBITDA growth of 10.9%. Marina Bay Sands saw record results while Macao operations faced challenges in VIP and premium mass gaming.
- Las Vegas Sands remains committed to maximizing shareholder returns through growth, recurring dividends that have increased significantly each year, and over $9.6 billion returned to shareholders via dividends and share repurchases over the last 12 quarters.
Legacy Reserves LP is an oil and natural gas MLP that owns producing properties focused in the Permian Basin, Mid-Continent, and Rocky Mountain regions. It has grown through acquisitions, completing over $1.6 billion in deals since 2006. It aims to reduce cash flow volatility and protect its borrowing base through hedging approximately 85% of estimated production over the next 18-24 months on a rolling basis. Key highlights include a high-quality, liquids-rich asset portfolio with 12.4 years of proved reserves to production, a track record of distribution growth, and a conservative financial and hedging policy.
- Devon Energy presented at the UBS Global Oil and Gas Conference on May 23, 2018.
- Devon outlined its 2020 vision which includes growing higher-value oil production in the Delaware and STACK areas, improving financial strength, and returning cash to shareholders.
- Key initiatives include a $1 billion share repurchase program, raising the dividend by 33%, and a $1 billion debt reduction plan.
Guyana Goldfields August 2012 Investor Presentationjwagenaar734
The presentation summarizes Guyana Goldfields' August 2012 investor presentation. It discusses the company's Aurora Gold Project in Guyana, South America, which contains over 6 million ounces of gold resources. A new leadership team is working to improve the project's economics through an updated bankable feasibility study focusing on staged development and optimized mining methods. The company has secured all necessary permits and is advancing infrastructure construction to become the next producing gold mine in Guyana.
The document presents an investment case for investing in palladium mining company North American Palladium. It notes that palladium prices are forecast to rise significantly due to strong demand fundamentals and constrained mine supply. Demand is expected to continue growing from the automotive sector, while mine production is concentrated in risky jurisdictions like Russia and South Africa and unable to keep up with demand. North American Palladium offers palladium production growth through mine expansion and has an experienced management team and prudent financial position to support further development.
1) The document is an investor presentation for Penn Virginia Corporation (PVA) that provides an overview of the company and its strategy.
2) PVA has transitioned its business strategy and capital investments toward oil and natural gas liquid plays like the Eagle Ford Shale, growing its oil production significantly.
3) The company aims to continue expanding its oil and liquids reserves and drilling inventory through continued development of the Eagle Ford and exploration of new oil prospects, while maintaining a conservative financial strategy and balance sheet.
Sage march 2013 investor presentation currentSagegold
Sage Gold's short term plan is to develop the existing resource at their Clavos deposit to generate cash flow through near term production. A Preliminary Economic Assessment shows a robust project with a 71% pre-tax IRR. Existing infrastructure and permits are in place to begin re-opening the Clavos mine in 2013. Sage also has a JV with St Andrew Goldfields providing access to a mill and existing underground development at the Clavos property in the prolific Timmins gold camp of Ontario. The updated NI43-101 shows indicated resources of 194,600 ounces and inferred resources of 120,000 ounces of gold at the Clavos deposit.
NAP's flagship LDI mine offers production growth potential through increasing mining rates and decreasing cash costs. The mine has excess mill and shaft capacity, and exploration upside remains. Palladium prices are expected to remain strong due to constrained mine supply and growing demand from automotive sector emissions regulations. NAP is well positioned to benefit from rising palladium prices as a primary producer.
- The document is a presentation for Las Vegas Sands' 4Q14 earnings call that discusses financial results and provides an investment case for the company.
- Key highlights from 4Q14 include adjusted EPS growth of 27.8% and consolidated adjusted property EBITDA growth of 10.9%. Marina Bay Sands saw record results while Macao operations faced challenges in VIP and premium mass gaming.
- Las Vegas Sands remains committed to maximizing shareholder returns through growth, recurring dividends that have increased significantly each year, and over $9.6 billion returned to shareholders via dividends and share repurchases over the last 12 quarters.
The document is Devon Energy's September 2018 investor presentation. It highlights Devon's $4 billion share repurchase program, the largest ever by an E&P company. It also discusses Devon's 2020 vision of enhancing returns through disciplined capital investment and portfolio simplification efforts. Devon expects to exceed its $5 billion divestiture target by the end of 2018. The presentation provides operational and financial updates, including Devon's outlook for significant cash flow growth driven by its high-margin U.S. oil portfolio.
This document provides contact information for Devon Energy's investor relations team. It also contains safe harbor statements, noting that some information in the presentation includes forward-looking statements that are subject to risks and uncertainties. Additionally, it contains a cautionary note about SEC definitions of reserves versus internal company definitions of resources, which are considered more speculative.
This document discusses Penn Virginia's (PVA's) presentation at the BMO Capital Markets 10th Annual Unconventional Resource Conference on January 8, 2012. It begins with forward-looking statements and definitions of proved, probable and possible oil and gas reserves. It then provides a high-level overview of PVA, including its transition to focus on oil and liquids-rich plays like the Eagle Ford Shale. The document summarizes PVA's key assets and highlights its multi-year drilling inventory in the Eagle Ford Shale play.
This presentation discusses Phillips 66's strategy of focusing on returns, operating excellence, and growth. It provides the following key points:
1. In 2016, Phillips 66 achieved its safest year and highest refining utilization on record. Its CPChem petrochemical project in the US Gulf Coast is over 90% complete.
2. Phillips 66 is growing its midstream business through investments in infrastructure as US oil and gas production increases. Its MLP Phillips 66 Partners is expected to have $1.1 billion in EBITDA by 2018.
3. Phillips 66 maintains financial strength through disciplined capital allocation. It funds sustaining and growth capital while growing dividends and ongoing share repurchases.
The document discusses North American Palladium's investment case and provides an overview of the company. It summarizes that NAP operates the Lac des Iles mine, one of only two primary palladium mines in the world. NAP is undergoing an expansion to increase palladium production to over 250,000 ounces annually at reduced cash costs below $300 per ounce. The Lac des Iles mine has additional exploration upside and excess milling capacity to support future production growth.
- PetroMagdalena Energy is building on past success by focusing on organic cash flow opportunities in its portfolio in Colombia through activities like enhancing netbacks, reducing costs, and increasing efficiency.
- The company plans to increase development activity in 2012 in the Llanos Basin following exploration success there.
- The 2012 work program is estimated between $70-80 million, with 65% directed towards light oil exploration and development in key areas like Cubiro and Arrendajo. This includes 10 development wells and 3 exploration wells for the rest of the year.
The document provides an overview of Penn Virginia Corporation's acquisition of Eagle Ford Hunter, Inc. (MHR). Key points:
- The $400 million acquisition significantly increases PVA's Eagle Ford acreage and production. Pro forma, net Eagle Ford acreage increases 54% and daily oil production increases 42%.
- Sources and uses of funds include $775 million in new senior notes, $40 million from equity issuance, and $400 million for acquisition consideration. Funds will also refinance $300 million senior notes due 2016.
- The acquisition grows PVA's proved reserves 11% to 125.5 MMBOE with 28% oil, increases total proved and developed Eagle Ford reserves 46%
This document provides contact information for Devon Energy's investor relations department. It also includes standard legal disclosures about the use of forward-looking statements and non-GAAP financial measures in company presentations. The presentation that follows discusses Devon Energy's asset portfolio, growth strategy focused on the STACK and Delaware Basin plays, and financial strength. It highlights the company's leading positions, significant inventory of drilling locations, improving capital efficiency, and plans to increase investment and production growth rates over the next two years.
NAP's Lac des Iles mine in Ontario, Canada is one of only two primary palladium mines in the world. The presentation discusses expanding production at LDI through mine expansion projects which offer production growth and decreasing cash costs. It also notes significant development and exploration upside at LDI and other properties to complement existing mill capacity and infrastructure. Management is experienced and aims to reduce risks through projects at LDI, which has been producing palladium for 20 years.
The document is an investor presentation for a mining company that discusses the investment case for palladium. It notes that global palladium supply is constrained, with over 80% coming from Russia and South Africa, which face operating challenges. Demand is growing, led by the automotive sector where palladium is used in catalytic converters. Stricter emissions regulations are driving increased palladium loadings in converters. The company is well positioned to benefit from these supply and demand fundamentals as a primary palladium producer.
This document provides an overview of Penn Virginia Corporation (PVA), an oil and gas exploration and production company. PVA has transitioned to focus on oil and natural gas liquids (NGLs) production through its Eagle Ford Shale position. It discusses PVA's strategy of growing its oil and NGLs reserves and production, expanding its Eagle Ford acreage, and continued drilling in the play. PVA has significantly grown its oil and NGLs production and shifted the makeup of its reserves to be over 40% oil and NGLs. The company is focused on improving liquidity and growing its oil and liquids cash flows.
The document discusses Teranga Gold Corporation's 2012 annual general meeting of shareholders. It focuses on growing reserves, growing production, and financial strength. Key points include plans to spend $40 million on exploration in 2012, including $20 million to potentially double gold inventory on the mine license to 2.5-3.5 million ounces through deeper drilling. It also outlines $20 million for regional exploration across the company's 1,500 square kilometer land package and operational highlights from 2011 aimed at increasing production.
Mandalay Resources owns the Cerro Bayo silver-gold mine in Chile and the Costerfield gold-antimony mine in Australia. In 2013, Cerro Bayo is expected to produce between 2.8-3.1 million ounces of silver and 18,000-21,000 ounces of gold, while Costerfield is expected to produce 20,000-25,000 ounces of gold and 2,800-3,000 tonnes of antimony. Exploration programs aim to expand reserves at both mines through 60,000 metres of drilling at Cerro Bayo and 13,000 metres at Costerfield.
The corporate presentation provides an overview of Zargon Oil & Gas Ltd., including highlights such as its market capitalization, annualized dividend yield, reserve estimates, and production weighting. It summarizes Zargon's focused oil exploitation strategy, recent convertible debenture offering, and production guidance. Key aspects of Zargon's business plan involve increasing oil recovery through projects like waterfloods and ASP tertiary recovery, as well as executing on its identified oil exploitation opportunities.
Devon Energy held an investor presentation in October 2018 to highlight its strategic focus on capital efficiency, portfolio simplification, and improving financial strength. The company expects to exceed its $5 billion divestiture target by the end of 2018. Devon also outlined its $4 billion share repurchase program and plans to increase its quarterly dividend. The presentation emphasized Devon's commitment to optimizing returns and delivering capital-efficient cash flow growth through 2020.
- Jericho Oil published its annual letter to shareholders from the Chairman and CEO Allen Wilson discussing the company's performance in 2015 and outlook.
- In 2015, Jericho made three acquisitions in Central Oklahoma of producing oil and gas assets totaling over $17 million and increasing production by 158 barrels per day.
- Despite a challenging market with oil prices down 65% from 2014, Jericho increased its proved reserves by 367% year-over-year through its acquisition strategy.
Goldenport Holdings Inc presented results for the full year 2013. Key points include:
- Revenue decreased 19.6% to $62.9 million due to lower charter rates. EBITDA fell 13.6% to $21 million.
- The company acquired a 1998-built container vessel for $6 million and sold older vessels, using proceeds to repay debt.
- Short-term time charters of 3-6 months were employed in anticipation of a market recovery.
- The dry bulk carrier market showed early signs of recovery in late 2013 and fundamentals point to improving rates in 2014.
- The company is positioned to benefit from an expected market upturn by rebalancing its fleet toward dry bulk
The document provides an overview of North American Palladium's Lac des Iles palladium mine in Ontario, Canada. It discusses the constrained global palladium supply outlook and growing demand drivers. NAP's Lac des Iles mine is a world-class asset with significant exploration potential and excess processing capacity. The mine is forecast to increase production to over 200,000 ounces of palladium per year while lowering costs, leveraging existing infrastructure. Drilling programs aim to expand reserves and resources in high priority areas of the mine.
Pacific Coal aims to become Colombia's leading independent coal producer by expanding its existing producing assets and securing infrastructure capacity. The company's strategy involves vertical integration across the coal supply chain from raw material production to marketing value-added products. Pacific Coal has a fully funded capital expenditure budget of $191 million from 2011-2012 to execute its strategy through exploration, development, acquisitions, infrastructure investments, equipment purchases, and pending projects. It has a strong capital structure as a publicly traded company with institutional investor support and no long-term debt issues.
Penn Virginia is acquiring Eagle Ford Shale assets from Magnum Hunter for approximately $400 million. The assets include 40,565 acres (19,037 net acres) in Gonzales and Lavaca Counties, Texas. As of February 2013, the assets were producing approximately 3,173 BOEPD and are estimated to produce approximately 5,500 BOEPD for the final eight months of 2013. The transaction is estimated to add approximately 12.0 MMBoe of proved reserves to Penn Virginia. The acquisition significantly increases Penn Virginia's footprint in the core of the Eagle Ford shale play in Texas.
Vulcan Materials' strategy focuses on leveraging its strength in aggregates, which are essential construction materials. The company has the largest proven reserves of aggregates and operates in markets that represent a high percentage of US population and economic growth. Vulcan aims to maximize long-term earnings growth through strong operational performance, cost controls, and strategic positioning in attractive regions.
The document is Devon Energy's September 2018 investor presentation. It highlights Devon's $4 billion share repurchase program, the largest ever by an E&P company. It also discusses Devon's 2020 vision of enhancing returns through disciplined capital investment and portfolio simplification efforts. Devon expects to exceed its $5 billion divestiture target by the end of 2018. The presentation provides operational and financial updates, including Devon's outlook for significant cash flow growth driven by its high-margin U.S. oil portfolio.
This document provides contact information for Devon Energy's investor relations team. It also contains safe harbor statements, noting that some information in the presentation includes forward-looking statements that are subject to risks and uncertainties. Additionally, it contains a cautionary note about SEC definitions of reserves versus internal company definitions of resources, which are considered more speculative.
This document discusses Penn Virginia's (PVA's) presentation at the BMO Capital Markets 10th Annual Unconventional Resource Conference on January 8, 2012. It begins with forward-looking statements and definitions of proved, probable and possible oil and gas reserves. It then provides a high-level overview of PVA, including its transition to focus on oil and liquids-rich plays like the Eagle Ford Shale. The document summarizes PVA's key assets and highlights its multi-year drilling inventory in the Eagle Ford Shale play.
This presentation discusses Phillips 66's strategy of focusing on returns, operating excellence, and growth. It provides the following key points:
1. In 2016, Phillips 66 achieved its safest year and highest refining utilization on record. Its CPChem petrochemical project in the US Gulf Coast is over 90% complete.
2. Phillips 66 is growing its midstream business through investments in infrastructure as US oil and gas production increases. Its MLP Phillips 66 Partners is expected to have $1.1 billion in EBITDA by 2018.
3. Phillips 66 maintains financial strength through disciplined capital allocation. It funds sustaining and growth capital while growing dividends and ongoing share repurchases.
The document discusses North American Palladium's investment case and provides an overview of the company. It summarizes that NAP operates the Lac des Iles mine, one of only two primary palladium mines in the world. NAP is undergoing an expansion to increase palladium production to over 250,000 ounces annually at reduced cash costs below $300 per ounce. The Lac des Iles mine has additional exploration upside and excess milling capacity to support future production growth.
- PetroMagdalena Energy is building on past success by focusing on organic cash flow opportunities in its portfolio in Colombia through activities like enhancing netbacks, reducing costs, and increasing efficiency.
- The company plans to increase development activity in 2012 in the Llanos Basin following exploration success there.
- The 2012 work program is estimated between $70-80 million, with 65% directed towards light oil exploration and development in key areas like Cubiro and Arrendajo. This includes 10 development wells and 3 exploration wells for the rest of the year.
The document provides an overview of Penn Virginia Corporation's acquisition of Eagle Ford Hunter, Inc. (MHR). Key points:
- The $400 million acquisition significantly increases PVA's Eagle Ford acreage and production. Pro forma, net Eagle Ford acreage increases 54% and daily oil production increases 42%.
- Sources and uses of funds include $775 million in new senior notes, $40 million from equity issuance, and $400 million for acquisition consideration. Funds will also refinance $300 million senior notes due 2016.
- The acquisition grows PVA's proved reserves 11% to 125.5 MMBOE with 28% oil, increases total proved and developed Eagle Ford reserves 46%
This document provides contact information for Devon Energy's investor relations department. It also includes standard legal disclosures about the use of forward-looking statements and non-GAAP financial measures in company presentations. The presentation that follows discusses Devon Energy's asset portfolio, growth strategy focused on the STACK and Delaware Basin plays, and financial strength. It highlights the company's leading positions, significant inventory of drilling locations, improving capital efficiency, and plans to increase investment and production growth rates over the next two years.
NAP's Lac des Iles mine in Ontario, Canada is one of only two primary palladium mines in the world. The presentation discusses expanding production at LDI through mine expansion projects which offer production growth and decreasing cash costs. It also notes significant development and exploration upside at LDI and other properties to complement existing mill capacity and infrastructure. Management is experienced and aims to reduce risks through projects at LDI, which has been producing palladium for 20 years.
The document is an investor presentation for a mining company that discusses the investment case for palladium. It notes that global palladium supply is constrained, with over 80% coming from Russia and South Africa, which face operating challenges. Demand is growing, led by the automotive sector where palladium is used in catalytic converters. Stricter emissions regulations are driving increased palladium loadings in converters. The company is well positioned to benefit from these supply and demand fundamentals as a primary palladium producer.
This document provides an overview of Penn Virginia Corporation (PVA), an oil and gas exploration and production company. PVA has transitioned to focus on oil and natural gas liquids (NGLs) production through its Eagle Ford Shale position. It discusses PVA's strategy of growing its oil and NGLs reserves and production, expanding its Eagle Ford acreage, and continued drilling in the play. PVA has significantly grown its oil and NGLs production and shifted the makeup of its reserves to be over 40% oil and NGLs. The company is focused on improving liquidity and growing its oil and liquids cash flows.
The document discusses Teranga Gold Corporation's 2012 annual general meeting of shareholders. It focuses on growing reserves, growing production, and financial strength. Key points include plans to spend $40 million on exploration in 2012, including $20 million to potentially double gold inventory on the mine license to 2.5-3.5 million ounces through deeper drilling. It also outlines $20 million for regional exploration across the company's 1,500 square kilometer land package and operational highlights from 2011 aimed at increasing production.
Mandalay Resources owns the Cerro Bayo silver-gold mine in Chile and the Costerfield gold-antimony mine in Australia. In 2013, Cerro Bayo is expected to produce between 2.8-3.1 million ounces of silver and 18,000-21,000 ounces of gold, while Costerfield is expected to produce 20,000-25,000 ounces of gold and 2,800-3,000 tonnes of antimony. Exploration programs aim to expand reserves at both mines through 60,000 metres of drilling at Cerro Bayo and 13,000 metres at Costerfield.
The corporate presentation provides an overview of Zargon Oil & Gas Ltd., including highlights such as its market capitalization, annualized dividend yield, reserve estimates, and production weighting. It summarizes Zargon's focused oil exploitation strategy, recent convertible debenture offering, and production guidance. Key aspects of Zargon's business plan involve increasing oil recovery through projects like waterfloods and ASP tertiary recovery, as well as executing on its identified oil exploitation opportunities.
Devon Energy held an investor presentation in October 2018 to highlight its strategic focus on capital efficiency, portfolio simplification, and improving financial strength. The company expects to exceed its $5 billion divestiture target by the end of 2018. Devon also outlined its $4 billion share repurchase program and plans to increase its quarterly dividend. The presentation emphasized Devon's commitment to optimizing returns and delivering capital-efficient cash flow growth through 2020.
- Jericho Oil published its annual letter to shareholders from the Chairman and CEO Allen Wilson discussing the company's performance in 2015 and outlook.
- In 2015, Jericho made three acquisitions in Central Oklahoma of producing oil and gas assets totaling over $17 million and increasing production by 158 barrels per day.
- Despite a challenging market with oil prices down 65% from 2014, Jericho increased its proved reserves by 367% year-over-year through its acquisition strategy.
Goldenport Holdings Inc presented results for the full year 2013. Key points include:
- Revenue decreased 19.6% to $62.9 million due to lower charter rates. EBITDA fell 13.6% to $21 million.
- The company acquired a 1998-built container vessel for $6 million and sold older vessels, using proceeds to repay debt.
- Short-term time charters of 3-6 months were employed in anticipation of a market recovery.
- The dry bulk carrier market showed early signs of recovery in late 2013 and fundamentals point to improving rates in 2014.
- The company is positioned to benefit from an expected market upturn by rebalancing its fleet toward dry bulk
The document provides an overview of North American Palladium's Lac des Iles palladium mine in Ontario, Canada. It discusses the constrained global palladium supply outlook and growing demand drivers. NAP's Lac des Iles mine is a world-class asset with significant exploration potential and excess processing capacity. The mine is forecast to increase production to over 200,000 ounces of palladium per year while lowering costs, leveraging existing infrastructure. Drilling programs aim to expand reserves and resources in high priority areas of the mine.
Pacific Coal aims to become Colombia's leading independent coal producer by expanding its existing producing assets and securing infrastructure capacity. The company's strategy involves vertical integration across the coal supply chain from raw material production to marketing value-added products. Pacific Coal has a fully funded capital expenditure budget of $191 million from 2011-2012 to execute its strategy through exploration, development, acquisitions, infrastructure investments, equipment purchases, and pending projects. It has a strong capital structure as a publicly traded company with institutional investor support and no long-term debt issues.
Penn Virginia is acquiring Eagle Ford Shale assets from Magnum Hunter for approximately $400 million. The assets include 40,565 acres (19,037 net acres) in Gonzales and Lavaca Counties, Texas. As of February 2013, the assets were producing approximately 3,173 BOEPD and are estimated to produce approximately 5,500 BOEPD for the final eight months of 2013. The transaction is estimated to add approximately 12.0 MMBoe of proved reserves to Penn Virginia. The acquisition significantly increases Penn Virginia's footprint in the core of the Eagle Ford shale play in Texas.
Vulcan Materials' strategy focuses on leveraging its strength in aggregates, which are essential construction materials. The company has the largest proven reserves of aggregates and operates in markets that represent a high percentage of US population and economic growth. Vulcan aims to maximize long-term earnings growth through strong operational performance, cost controls, and strategic positioning in attractive regions.
Victory Energy (VYEY) Investor PresentationDerek Gradwell
Victory Energy Corporation is a public oil and gas exploration company focused on development in the Permian Basin. The company owns interests in several producing properties in the basin. Victory plans to deploy $15 million in 2014 for drilling, completions, and acquisitions to increase production and proved reserves. The goal is to achieve over 30 million barrels of proved reserves by year-end and increase revenue to over $1 million. A key focus is the recently acquired 4,050 acre Fairway project, which Victory expects can generate a 60% internal rate of return over three years of planned drilling.
The slide deck used by senior management to make presentations during Hess' Analyst/Investor Day on November 10, 2014. Of particular interest for Marcellus Drilling News are the slides on pages 44-51, the portion of the presentation about Hess' program in the Utica Shale delivered by Michael Turner, senior vice president of global production.
PVA is an E&P company focused on growing its oil and NGL production and reserves. It has successfully transitioned to focus on oil-rich plays like the Eagle Ford shale through acquisitions and drilling. This strategy has increased revenues and cash flows as oil and NGL production rose 192% from 2010 to 2011. PVA will continue developing the Eagle Ford and testing new oil prospects while retaining gas assets for potential future price increases to further optimize its portfolio.
- PVA is a small-cap E&P company focused on oil and liquids-rich plays like the Eagle Ford Shale with excellent drilling results to date. PVA has been executing a strategy to transition from natural gas to growing oil and NGL production and reserves.
- PVA appears undervalued relative to peers based on trading at a discount to peer multiples of 2012 estimated cash flow per share and EBITDAX, and its enterprise value is only modestly above its year-end 2011 proved reserve value.
- PVA has options to build financial liquidity in 2012 including potential asset sales, reducing capital expenditures given its focus on oil and liquids plays, and continuing its active hedging program.
The document is a presentation from Teck Resources' 2015 sustainability report investors' conference call. It discusses Teck's approach to sustainability, including setting short and long-term sustainability goals. It highlights key sustainability risks around energy/climate change, water management, and communities. It also summarizes Teck's 2015 sustainability performance, including reducing energy and emissions, improving water recycling, and increasing agreements with Indigenous peoples. The presentation provides examples to illustrate Teck's sustainability strategies and performance.
PVA is an E&P company focused on growing its oil and liquids production. It has successfully transitioned to focus on oil-rich plays like the Eagle Ford shale, where it has over 23,000 net acres and strong drilling results. PVA's strategy has led to significant growth in EBITDAX and cash operating margins as oil prices have increased. The company is working to improve its liquidity by selling gas-heavy assets and reducing capital spending while maintaining its core gas portfolio for potential future price recovery. Upcoming catalysts include further exploration and development success in the Eagle Ford and Mid-Continent plays.
Nal 2012 investor day and guidance presentationNALenergy
NAL Energy Corporation held its Investor Day on January 11, 2012 in Calgary, Alberta. The company outlined its strategic focus on growing cash flows and liquids volumes through development drilling and appraisal of new oil resource plays. NAL provided guidance for 2012 of average production between 28,000 to 29,000 boe/d, a capital budget of $200 million, and operating costs between $11.50 to $12.00 per boe. The company's financial strategy focuses on maintaining flexibility through its capital structure and hedging program to fund its development plan and sustain dividend payments.
PVA is an oil and gas E&P company focused on growing its oil and liquids production. It has successfully transitioned to focus on oil-rich plays like the Eagle Ford shale, growing its oil production significantly. PVA is working to improve its liquidity through asset sales and reducing capital spending while maintaining strong drilling results in its key oil assets. The company remains attractively valued given its transition towards oilier production and reserves.
This document provides an investor update from Devon Energy (DVN). It summarizes DVN's asset portfolio, financial strength following asset divestments, and operating strategy. Key points include DVN focusing its capital investments within cash flow on top-tier oil and gas plays like the STACK and Delaware Basin, achieving significant cost savings, and maintaining a disciplined capital allocation approach.
- The document provides an overview and highlights of Aegean Marine Petroleum Network Inc. It includes cautionary statements about forward-looking statements and non-GAAP financial measures. It then summarizes the company's financial results, sales volumes, gross profit, EBITDA, and net income for Q1 2013 compared to previous periods. Additional sections discuss the company's fleet, storage capacity, profitability, and growth strategies.
- PVA is a small-cap E&P company focused on oil and liquids-rich plays like the Eagle Ford Shale, with excellent drilling results to date in the Eagle Ford
- PVA is executing a strategy to transition from natural gas to oil and liquids, through increased drilling in plays like the Eagle Ford where it has over 23,000 net acres
- Key catalysts for PVA include further exploratory success in the Eagle Ford, improving production and cash flows from the Eagle Ford, and a potential Granite Wash asset sale to boost liquidity
This document provides an investor update from Devon Energy (DVN) regarding its business and operations. It lists investor relations contacts and provides forward-looking statements and non-GAAP information disclosures. The main points are that Devon has a premier asset portfolio focused on top North American resource plays, significant financial strength following asset divestitures raising $3.2 billion, and is delivering top-tier results while disciplinedly allocating capital. Key areas discussed include the STACK play in Oklahoma where Devon has a large position and is accelerating activity, and the Meramec formation within STACK which is emerging as one of the best oil resource plays in North America.
This document provides contact information for Devon Energy's investor relations team. It also contains forward-looking statements and cautions readers that certain terms used such as "resource potential" are more speculative than proved reserves estimates. The document discusses Devon's asset portfolio, financial strength following divestitures, and operating strategy to maximize production and reduce costs. It highlights top-performing areas including the STACK play in Oklahoma and Delaware Basin in New Mexico, and provides details on well results and significant inventory in these core resource plays.
Sunoco LP provided an investor presentation that included the following key points:
1. The presentation included forward-looking statements and non-GAAP financial measures with required reconciliations.
2. Sunoco executed a business transformation that divested retail sites and refinanced debt to improve its financial profile and leverage targets.
3. Going forward, Sunoco expects a lean cost structure from its fuel distribution business with stable income streams from fuel sales and rental income. It aims to grow through organic expansion and acquisitions while maintaining disciplined financial policies.
This document provides an overview of Penn Virginia Corporation (PVA), an independent oil and gas exploration and production company. PVA has successfully transitioned its portfolio towards oil and natural gas liquids (NGLs) rich plays like the Eagle Ford Shale. This has driven significant growth in production, revenues, cash flows and margins. However, PVA currently trades at a discount to its peers on earnings and cash flow multiples despite its improved portfolio and growth outlook. Management plans to further build financial liquidity in 2012 through additional asset sales, reducing capital expenditures, and continuing its active hedging program.
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 and financial position, highlighting its high-quality asset portfolio including top positions in the STACK and Delaware Basin plays, significant financial strength following asset sales, and a focus on capital discipline and returns.
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 and financial position, highlighting its high-quality asset portfolio including top positions in the STACK and Delaware Basin plays, significant financial strength following asset sales, and a focus on capital discipline and returns.
Raymond James Annual Institutional Investors ConferenceProgressiveWaste
The document provides an overview of Progressive Waste Solutions' business and strategy from its presentation at the 35th Annual Institutional Investors Conference on March 3, 2014. Some key points include: Progressive Waste Solutions is one of the largest solid waste management companies in North America, with over 4 million customers and a top 3 market share position in most markets. It focuses on operational execution, disciplined capital allocation, and improving return on invested capital to optimize its integrated asset base and deliver consistent strong financial results.
Similar to Legacy Reserves January Investor Presentation (20)
Presentation Clayton Valley, NevadaFrom Drilling to PEA in under 2 YearsCompany Spotlight
The document summarizes Cypress Development Corp's Clayton Valley lithium project in Nevada. Key points include:
- A Preliminary Economic Assessment shows promising economics including a 32.7% IRR and $1.45 billion NPV.
- Measured and indicated resources total 8.9 million tonnes LCE with additional inferred resources.
- The project has the potential for low-cost production due to favorable geology and metallurgy.
- Upcoming catalysts in 2019 include a metallurgical study and prefeasibility study to further de-risk the project.
Aben Resources has made a new high-grade gold discovery at its flagship Forrest Kerr project in BC's Golden Triangle region. The region is known for major gold deposits and saw $100 million in exploration spending in 2017. Recent improvements have made the Forrest Kerr project more accessible via new roads. Aben's technical team has reinterpreted historical data and identified additional exploration targets. The project covers over 23,000 hectares of prospective geology along the Forrest Kerr fault zone that is similar to other major deposits in the Golden Triangle.
Aben Resources has discovered high-grade gold zones at its Forrest Kerr project in British Columbia's Golden Triangle. The first hole of the 2018 drill program intersected four separate high-grade gold zones within 190 metres, including 331.0 g/t Au over 1.0 metre. Aben plans to expand drilling at the Boundary North Zone and test other gold anomalies identified through soil sampling. The company also holds the Justin project in Yukon and Chico project in Saskatchewan near recent discoveries.
Cypress Development Corp. owns lithium claims in Clayton Valley, Nevada near Albemarle's Silver Peak lithium mine. A preliminary economic assessment found the project could have a 32.7% IRR and $1.45 billion NPV. The project would extract lithium from claystone using leaching and have average annual production of 24,042 tonnes of lithium carbonate over 40 years. Capital costs are estimated at $482 million to build a 15,000 tonne per day operation.
The document discusses Aben Resources Ltd., a gold exploration company with projects in British Columbia's Golden Triangle region and other areas of Western Canada. It provides an overview of Aben's management team and directors, flagship Forrest Kerr project, recent drilling results showing new high-grade gold discoveries, and its strategy to advance exploration through 2018. The document also briefly outlines Aben's other projects including the Chico gold project in Saskatchewan and Justin gold project in Yukon.
Cypress Development Corp. owns the Clayton Valley lithium project in Nevada. Drilling in 2017 intersected lithium-bearing claystone averaging 921 ppm Li over 77 meters thick. A maiden resource estimate calculated 3.287 million tonnes of lithium carbonate equivalent in the indicated category and 2.916 million tonnes LCE in inferred. Metallurgical tests show the claystone is acid leachable and able to recover over 80% of the lithium. Cypress plans additional drilling, engineering studies, and permitting to advance the project towards production.
- Aben Resources has three highly prospective gold projects in Western Canada including its flagship Forrest Kerr Project in BC's Golden Triangle region, which had recent drilling success expanding the Boundary North Zone.
- Management has over 100 years of combined experience in Western Canada and a proven track record of success.
- The projects have significant historic work identifying high-grade gold and robust discovery potential remains.
Cypress Development Corp. owns the Clayton Valley lithium project in Nevada. Drilling in 2017 intersected lithium-bearing claystone averaging 921 ppm Li over 77 meters. A maiden resource estimate classified over 1.3 million tonnes of lithium carbonate equivalent as indicated and inferred. Metallurgical testing shows the claystone is leachable with over 80% lithium recovery. Cypress aims to advance the project with engineering studies and further drilling to define resources with the goal of becoming a domestic lithium producer for the growing battery market.
The document provides forward-looking statements and discusses risks associated with such statements. It notes that some statements may be deemed forward-looking and lists factors that could cause actual results to differ from forward-looking statements. The document also identifies the qualified person for the technical information as Cornell McDowell and provides Aben's trading symbols and recent share information.
The document provides an overview of Aben Resources Ltd., a mineral exploration company with gold projects in Western Canada. It summarizes Aben's three key projects - Forrest Kerr in BC's Golden Triangle region with recent drill results discovering the Boundary Zone, Chico in Saskatchewan near producing mines, and Justin in Yukon's White Gold district. It outlines the management team's expertise and provides company details like shares outstanding and trading symbols.
- Cypress Development Corp owns the Clayton Valley lithium project in Nevada located near Albemarle's Silver Peak lithium brine operation.
- Drilling in 2017 encountered lithium mineralization averaging 921 ppm Li over 77 meters in 14 holes drilled.
- Metallurgical tests show the claystone is acid leachable with over 80% lithium extraction possible.
- Cypress aims to define a resource estimate in 2018 and advance the project with feasibility studies to develop a lithium operation.
The document discusses forward-looking statements and provides disclaimers about them. It introduces the qualified person for the technical information presented. It also lists Aben's trading symbols and recent share information including price and market capitalization.
1) Cypress Development Corp owns the Clayton Valley lithium project located next to Albemarle's Silver Peak mine in Nevada. Drilling in 2017 intersected lithium-bearing claystone averaging over 900 ppm Li to a depth of over 100 meters.
2) A maiden resource estimate classified over 1.5 million tonnes of lithium carbonate equivalent as indicated and inferred. Metallurgical testing shows the claystone is acid leachable to extract over 80% of the lithium.
3) The project is located in a strategic location to supply the growing lithium-ion battery market in the US, with lithium demand accelerating due to the increased production of electric vehicles globally.
TerraX Minerals is a Canadian mineral exploration company focused on exploring and developing its 100% owned 772 square km Yellowknife City Gold project located adjacent to the city of Yellowknife, Northwest Territories. The project covers high-grade Archean gold districts and has had multiple high-grade gold discoveries. TerraX has a strong management team with experience discovering and developing gold deposits and low exploration costs due to the project's excellent infrastructure and year-round access near Yellowknife.
This document discusses forward-looking statements and provides information about Aben Resources Ltd., including its stock symbols, shares outstanding, recent share price, market capitalization, and three gold exploration projects in Western Canada. It summarizes the management team's experience and the company's investment highlights. Specifically, it owns the Forrest Kerr gold project in British Columbia's Golden Triangle region, which saw successful drilling results in 2017 that led to a new discovery called the North Boundary zone.
Cypress Development Corp owns lithium claystone deposits in Clayton Valley, Nevada near Albemarle's Silver Peak lithium mine. Drilling in 2017 encountered lithium mineralization averaging 921 ppm Li over 77 meters in 14 holes. Metallurgical tests show the claystone is acid leachable with up to 80% lithium extraction. Cypress plans additional drilling, process engineering, and a preliminary economic assessment in 2018 to advance the project. The company sees potential for the project given growing lithium demand from electric vehicles and batteries.
TerraX Minerals is a Canadian mineral exploration company focused on exploring its 100% owned 772 square km Yellowknife City Gold project located near Yellowknife, Northwest Territories. The project covers high-grade Archean gold districts with known deposits and past producers. TerraX has made multiple high-grade gold discoveries on the property and identified several high-priority targets for further exploration and drilling. The company has a strong management team with experience discovering and developing deposits in the region.
Cypress Development Corp owns lithium claystone deposits in Clayton Valley, Nevada that have the potential to be a significant lithium resource. Drilling in 2017 encountered mineralization averaging 921 ppm lithium over 77 meters thick in 14 drill holes. Metallurgical testing shows the claystone is acid leachable with up to 80% lithium extraction. Cypress plans additional drilling, metallurgical testing, and a preliminary economic assessment in 2018 to further define the resource potential.
Cypress Development Corp owns lithium claystone deposits in Clayton Valley, Nevada near Albemarle's Silver Peak lithium mine. Drilling in 2017 encountered mineralization averaging 921 ppm lithium over 77 meters thick in 14 drill holes. Metallurgical tests show the claystone is acid leachable with up to 80% lithium extraction. Cypress plans additional drilling, metallurgical testing, and a preliminary economic assessment in 2018 to evaluate the project's potential.
Cypress Development Corp is exploring for lithium resources in Clayton Valley, Nevada. Recent drilling has encountered lithium-bearing claystone up to 112 meters below surface, with grades averaging over 800 ppm lithium. Metallurgical testing indicates 80% of the lithium can be extracted using a weak sulfuric acid solution. Cypress plans additional drilling in 2018 and expects to publish a initial lithium resource estimate in Q1 2018 to advance the project towards a preliminary economic assessment. The project is located near existing lithium production and infrastructure to be a potential new supply of lithium for the growing battery market.
Cleades Robinson, a respected leader in Philadelphia's police force, is known for his diplomatic and tactful approach, fostering a strong community rapport.
Methanex is the world's largest producer and supplier of methanol. We create value through our leadership in the global production, marketing and delivery of methanol to customers. View our latest Investor Presentation for more details.
MUTUAL FUNDS (ICICI Prudential Mutual Fund) BY JAMES RODRIGUESWilliamRodrigues148
Mutual funds are investment vehicles that pool money from multiple investors to purchase a diversified portfolio of stocks, bonds, or other securities. They are managed by professional portfolio managers or investment companies who make investment decisions on behalf of the fund's investors.
ZKsync airdrop of 3.6 billion ZK tokens is scheduled by ZKsync for next week.pdfSOFTTECHHUB
The world of blockchain and decentralized technologies is about to witness a groundbreaking event. ZKsync, the pioneering Ethereum Layer 2 network, has announced the highly anticipated airdrop of its native token, ZK. This move marks a significant milestone in the protocol's journey, empowering the community to take the reins and shape the future of this revolutionary ecosystem.
World economy charts case study presented by a Big 4
World economy charts case study presented by a Big 4
World economy charts case
World economy charts case study presented by a Big 4
World economy charts case study presented by a Big 4World economy charts case study presented by a Big 4
World economy charts case study presented by a Big 4
World economy charts case study presented by a Big 4World economy charts case study presented by a Big 4World economy charts case study presented by a Big 4World economy charts case study presented by a Big 4World economy charts case study presented by a Big 4World economy charts case study presented by a Big 4World economy charts case study presented by a Big 4World economy charts case study presented by a Big 4World economy charts case study presented by a Big 4World economy charts case study presented by a Big 4World economy charts case study presented by a Big 4World economy charts case study presented by a Big 4World economy charts case study presented by a Big 4World economy charts case study presented by a Big 4study presented by a Big 4
The E-Way Bill revolutionizes logistics by digitizing the documentation of goods transport, ensuring transparency, tax compliance, and streamlined processes. This mandatory, electronic system reduces delays, enhances accountability, and combats tax evasion, benefiting businesses and authorities alike. Embrace the E-Way Bill for efficient, reliable transportation operations.
2. Forward-looking Statements
Statements made by representatives of Legacy Reserves LP (the “Partnership”) during
the course of this presentation that are not historical facts are forward-looking
statements. These statements are based on certain assumptions made by the
Partnership based on management’s experience and perception of historical trends,
current conditions, anticipated future developments and other factors believed to be
appropriate. Such statements are subject to a number of assumptions, risks and
uncertainties, many of which are beyond the control of the Partnership, which may cause
actual results to differ materially from those implied or expressed by the forward-looking
statements. These include risks relating to financial performance and results, availability
of sufficient cash flow to pay distributions or make payments on our notes and execute
our business plan, prices and demand for oil and natural gas, our ability to replace
reserves and efficiently exploit our current reserves, our ability to make acquisitions on
economically acceptable terms, and other important factors that could cause actual
results to differ materially from those anticipated or implied in the forward-looking
statements. Please see the factors described in the Partnership’s Annual Report on
Form 10-K for the year ended December 31, 2012 in Item 1A under “Risk Factors” and
subsequent filings with the Securities and Exchange Commission. The Partnership
undertakes no obligation to publicly update any forward-looking statements, whether as a
result of new information or future events.
2
3. Legacy Reserves LP Overview
Legacy (NASDAQ: LGCY) IPO’d in January 2007 and
has a consistent track record of growing its oil-weighted
asset base and delivering unitholder value
Current Enterprise Value: $2.5 billion
$1.6 billion market cap(1)
$860 million of net debt
Tax-advantaged quarterly cash distribution of $0.585/unit
($2.34 annualized) provides 8.3% yield(1)
Straight-forward structure
18% insider ownership
No IDRs
Long-lived, oil-weighted properties afford stable, lowdecline asset base that is well suited for an MLP
Core competencies have driven 43% distribution growth
since IPO including 12 consecutive distribution increases
Evaluating acquisitions and development projects
Financing capital requirements
Executing the plan
(1) Based on closing price as of 1/8/13 of $28.30.
3
4. Core Asset Areas
Reserve Breakdown(1)
11%
Overview
• 88.4 MMBoe PF proved reserves(1)
• 69% Oil and NGLs
• 88% PDP
• 20,043 Boe/d current production(2)
• Proved R/P of 12.1(3)
• Over 80% of reserves are operated
• Approx. 8,000 gross producing wells
12%
76%
Permian Basin
Rocky Mountain
Mid-Continent
5%
31%
64%
Permian Basin
• 67.6 MMBoe PF proved reserves(1)
• 64% Oil and NGLs
• 85% PDP
• 15,564 Boe/d current production(2)
(1)
(2)
(3)
SEC proved reserves at Dec. 31, 2012
as disclosed in Legacy’s Form 10-K
plus estimated proved reserves from
2013 acquisitions.
Q3 2013 production.
Based on estimated pro forma proved
reserves and Q3 2013 production.
Oil
Gas
NGL
Rocky Mountain
• 10.8 MMBoe PF proved reserves(1)
• 96% Oil and NGLs
• 95% PDP
• 2,216 Boe/d current production(2)
Mid-Continent
• 9.9 MMBoe PF proved reserves(1)
• 72% Oil and NGLs
• 98% PDP
• 2,195 Boe/d current production(2)
4
5. Permian Basin: Our Home and a Great Fit for an MLP
Discovered in 1921, the Permian Basin is
one of the most prolific basins in the U.S.
Industry Production Activity
Cumulative production of over 30 billion Bbls
Currently producing ~1.4 million Bbl/d and ~4.9
Bcf/d (Sep ’13)
Oil production increased 34% since Jan ’11
Multiple producing formations
Established and expanding infrastructure
with constructive regulatory environment
Long-lived reserves
Predictable, shallow decline rates
Fragmented ownership
Over 1,275 companies currently operating in the
basin
Top 5 owners represent less than one third of
total ownership(1)
Permian holds over 90% of our PUDs
Source:
Map Source:
(1)
Texas Railroad Commission (Districts 7C, 8 & 8A) and the New Mexico Oil Conservation Division.
Midland Map Company.
Ownership based on 2011 total production. Permian Basin includes Texas Railroad Commission Districts 7C, 8, 8A as well as Lea and Eddy Counties, New Mexico.
5
6. Acquisitions Drive Growth
Disciplined evaluation approach to making
acquisitions of mature, long-lived oil and
natural gas properties with high concentration
of PDP reserves.
$280
30
$221
24
25
$197
$200
19
16
$150
20
$137
15
15
$100
11
$100
10
8
2013 opportunities: 160 screened, 75
evaluated, 11 closed (7%)
$50
Eleven acquisitions of producing properties for
$100 million made in 2013 at attractive
metrics, and current acquisition pipeline looks
strong
27
$250
($ Total Deal Value)
2012 acquisitions of approximately $635
million
35
$32
5
3
$8
0
$0
2006 2007 2008 2009 2010 2011 2012 2013
Total Deal Value
# of Transactions
6
(# of Transactions)
Averaged over $200 million of acquisitions
annually during 2007, 2008, 2010 and 2011
40
$300
Approximately $1.6 billion of acquisitions
since 2006 focused in the Permian Basin,
Mid-Continent and Rockies
Purchased at an average of 5.6x
estimated FTM cash flow
$ 635
$350
$ 700
8. Quarterly Cash Distribution Profile
Quarterly Distribution per Unit
$0.700
$160
Cumulative distributions since
inception = $14.080/unit
WTI Spot Price ($ / Bbl)
$140
$0.525 $0.53
$0.52
$0.55 $0.555
$0.54 $0.545
$0.57
$0.56 $0.565
$0.575
$0.58 $0.585
$120
$100
$0.49
$0.500
$0.45
$80
$0.43
$0.41
$0.42
$0.400
$60
$40
$0.300
$20
$0.200
$0
1Q
2Q
3Q
2007
4Q
1Q
2Q
3Q
2008
4Q
1Q
2Q
3Q
2009
4Q
1Q
2Q
3Q
2010
4Q
1Q
2Q
3Q
2011
4Q
1Q
2Q
3Q
4Q
1Q
2012
2Q
3Q
2013
Legacy has increased its quarterly distribution by 3.5% year-over-year and 42.7% since its IPO
8
($ / Bbl)
(Quarterly Distribution / Unit)
$0.600
9. Hedging Strategy
Clear objective to reduce cash flow volatility to protect our borrowing base and future
distribution levels
Target approximately 85% of estimated PDP production over the next 18-24 months
on a rolling quarterly basis with declining percentage hedging thereafter
Approximately 84% of expected PDP crude oil production and approximately 55% of
expected PDP natural gas production hedged through 2015 at favorable prices
Hedge production from acquisitions for 3-5 years upon signing of a purchase and sale
agreement to help lock-in acquisition economics
Hedge within our bank group to capitalize on right-way risk and reduce capital
constraints
Primarily use swaps, 3-way collars and enhanced swaps
All hedges (both prior and current) are costless
Hedge interest rates to further mitigate volatility
9
10. Key Investment Highlights
High-quality, liquids-rich asset portfolio
69% Liquids
12.1 R/P(1)
Strong track record
123 acquisitions of producing properties worth approximately $1.6 billion
12 consecutive quarters of distribution growth
Extensive, Low-Risk development Drilling Inventory
Over 700 low-risk development opportunities
Experienced and Incentivized Management Team
18% of outstanding units held by management/insiders
No Incentive Distribution Rights promotes unitholder alignment with 100% of
incremental cash flows going to LPs
Conservative Financial and Hedging Policy
2.8x Debt/LQA EBITDA with no near-term debt maturities(2)
Substantial hedge portfolio
(1)
(2)
Based on estimated pro forma proved reserves (proved reserves as of 12/31/12 plus estimated proved reserves from 2013 acquisitions) and Q3 2013 production.
Annualized Q3 2013 Adjusted EBITDA ($76.2 million) which excludes pro forma effects for acquisitions.
10
12. Conservative Capital Structure
($ in millions)
September 30, 2013
Cash and cash equivalents
$4.1
Long-term debt:
Revolving credit facility due 2016
8% Senior Notes due 2020 (1)
6.625% Senior Notes due 2021 (1)
$314.0
300.0
250.0
Total Debt
$864.0
Market Capitalization
$1,627.6
Total Enterprise Value (TEV)
$2,487.6
Borrowing Base
Liquidity
$489.9
PF LQA Adjusted EBITDA (2)
$305.0
PF Proved Reserves (MMBoe)
PF Proved Developed Reserves (MMBoe)
Avg. Daily Production (Boe/d) (3)
88.4
79.9
20,043
Annual Distribution ($/unit)
Closing Unit Price (1/8/2014)
Distribution Yield
(1)
(2)
(3)
$800.0
$2.34
$28.30
8.3%
Reflects face value of the notes.
Annualized Q3 2013 Adjusted EBITDA ($76.2 million) which excludes pro forma effects for acquisitions.
Q3 2013 production.
12
14. Oil and Natural Gas Hedging Summary
Approximately 84% of expected PDP crude oil
production hedged through 2015 at a
weighted-averaged floor price of $92.80 / Bbl
enhanced swaps
Approximately 55% of expected PDP natural
gas production hedged through 2015 at a
weighted-averaged price of $4.40 / MMBtu
1,600
$140.00
$110.53
$96.78
1,200
800
$91.56
$66.34
$112.21
$106.40
$104.20
$89.67
$88.37
$85.00
$71.78
$108.15
(MBbls Hedged)
Uses a combination of swaps, three-way collars and
Oil 3-Way Collars Summary
$64.67
$63.37
$60.00
$35.00
$0.00
0
Q4 2013
Natural Gas Hedging Summary(2)
2014
2015
2016
2017
Avg. 3W Short Call (Price)
Avg. 3W Short Put (Price)
Oil Hedging Summary(1)
4,800
10,000
$4.32
$94.18
4,000
8,000
6,000
(MBbls Hedged)
(BBtu Hedged)
$70.00
400
3W Collars (MBbls)
Avg. 3W Long Put (Price)
$4.58
4,000
$4.33
$4.30
2,000
-
3,200
$90.87
2,400
1,600
$92.45
$88.86
$87.34
800
$90.50
Q4 2013
2014
2015
Swaps
(1)
(2)
$105.00
2016
Q4 2013
Swaps
2014
2015
3W Collars
2016
2017
2018
Enhanced Swaps
Hedging prices reflect a weighted average of swap prices, long put prices on 3-way collars, and enhanced swap prices.
Natural gas hedge prices reflect Waha (West Texas), ANR-OK, and CIG (Rockies) indexes.
14
15. Permian Basin Drilling Opportunities
Note: Reflects proved and unproved locations as well as prospective acreage. Well costs are based on current estimates.
15
16. Ownership Structure and Governance
Significant insider ownership
No IDRs yields lower cost of
capital and ensures
unitholder alignment
Founding Investors,
Directors
and Management
Public
Unitholder voting rights
similar to typical LLC
structure
100%
18% Limited
Partner Interest
Independent Reserve
Engineers:
LaRoche Petroleum
Consultants, Ltd.
Legacy Reserves
GP, LLC
82% Limited
Partner Interest
Independent board
members enhance
corporate governance
<0.1% General
Partner Interest
Legacy Reserves LP
(NASDAQ:LGCY)
Independent Auditors:
BDO USA, LLP
$1.0 Bn Revolving Credit Facility
with $800MM Borrowing Base
$300MM 8.00% Senior Notes
$250MM 6.625% Senior Notes
100% Ownership Interest
Legacy Reserves Operating LP
16
17. Adjusted EBITDA Reconciliation
The following presents a reconciliation of “Adjusted EBITDA”, which is a non-GAAP measure, to its nearest comparable GAAP
measure. “Adjusted EBITDA” should not be considered as an alternative to GAAP measures, such as net income, operating
income, cash flow from operating activities, or any other GAAP measure of financial performance. Adjusted EBITDA is defined as
net income (loss) plus interest expense; income taxes; depletion, depreciation, amortization and accretion; impairment of longlived assets; (gain) loss on sale of partnership investment; (gain) loss on disposal of assets; equity in (income) loss of equity
method investees; unit-based compensation expense related to LTIP unit awards accounted for under the equity or liability
methods; minimum payments earned in excess of overriding royalty interests; EBITDA applicable to equity method investee; net
(gains) losses on commodity derivatives; and net cash settlements received (paid) on commodity derivatives.
The management of Legacy Reserves LP uses Adjusted EBITDA as a tool to provide additional information and metrics relative to
the performance of Legacy’s business. Legacy’s management believes that Adjusted EBITDA is useful to investors because this
measure is used by many companies in the industry as a measure of operating and financial performance and is commonly
employed by financial analysts and others to evaluate the operating and financial performance of the Partnership from period to
period and to compare it with the performance of other publicly traded partnerships within the industry. Adjusted EBITDA may not
be comparable to a similarly titled measure of other publicly traded limited partnerships or limited liability companies because all
companies may not calculate Adjusted EBITDA in the same manner.
17
18. Reg G Reconciliation
($ in millions)
2007
Net income (loss)
2008
($55.7)
2009
$158.2
2010
2011
2012
9M 2013
($92.8)
$10.8
$72.1
$68.6
$11.6
Interest expense
7.1
21.2
13.2
25.8
18.6
20.3
36.1
Income taxes
0.3
0.0
0.6
0.5
1.0
1.1
0.6
28.4
63.3
58.8
62.9
88.2
102.1
118.5
Impairment of long-lived assets
3.2
76.9
9.2
13.4
24.5
37.1
23.4
(Gain) loss on disposal of assets
0.5
0.6
0.4
0.6
(0.6)
(2.5)
0.5
(0.1)
(0.1)
(0.0)
(0.1)
(0.1)
(0.1)
(0.4)
1.0
1.1
3.1
5.5
4.0
3.5
3.6
Depletion, depreciation, amortization and accretion
Equity in income of partnership
Unit-based compensation expense
Minimum payments earned in excess of overriding royalty interest
EBITDA applicable to equity method investee
Net cash settlements received (paid) on commodity derivatives
(1)
(2)
0.7
(2)
Net (gains) losses on commodity derivatives
Adjusted EBITDA
(1)
0.4
85.2
(176.9)
75.5
1.4
(6.8)
(38.5)
18.1
0.2
(40.2)
52.5
20.1
0.6
5.9
(4.7)
$120.4
$141.0
$201.4
$197.6
$70.2
$104.1
$208.5
A portion of minimum payments earned in excess of overriding royalties earned under a contractual agreement expiring December 31, 2019. The remaining amount of the
minimum payments are recognized in net income.
EBITDA applicable to equity method investee is defined as the equity method investee’s net income plus interest expense and depreciation.
18