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  "docSlug": "bf01386f09de8fd439d9578440d2f1c3",
  "documentTitle": "Evercore | Investment Banking Pitch Book | 37 slides",
  "authorId": "evercore",
  "authorName": "Evercore",
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  "sourceTypeSlug": "investment_bank",
  "sourceTypeLabel": "Investment bank",
  "presentationDate": "2012-12-01 00:00:00",
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  "pageNumber": 32,
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  "density": "balanced",
  "nDataPoints": 48,
  "notes": "The table presents a valuation under two commodity price scenarios (Low/High) based on NYMEX strip pricing as of Dec 3, 2012.",
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      "text": "Evercore also considered the risked net asset value of MMR assuming the Company enters into a hypothetical joint venture agreement. MMR would sell a 25.0% working interest in the Ultra-Deep Assets for $800 million in the form of a combination of cash and drilling capex carry ($500 million upfront cash, $300 million drilling capex carry). NYMEX strip pricing as of December 3, 2012 through 2017E and then held flat thereafter. Utilizes the NAV Assumptions. Partner pays its working interest share of insurance and operating expenses, and after the carry period, its working interest share of capex. Partner tax basis step-up based on upfront cash plus the present value of the capex carry. Taxable gain taxed at 35%.",
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      "text": "NAV Summary table showing Proved Developed Producing, Proved Developed Behind-Pipe, Proved Undeveloped, Proved Reserves, Probable, Proved plus Probable Reserves, Possible, 3P Reserves, Ultra Deep Upside, P&A, Gross Asset Value, G&A, Insurance, Sulphur Reclamation, Pre-Tax NAV, Cash Taxes, After-Tax NAV, Cash, Upfront Cash, Taxable Gain, Debt, Preferred Shares, Equity Value, Fully Diluted Shares, $/Share.",
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      "kind": "title",
      "text": "Net Asset Value Analysis – Potential Joint Venture Agreement",
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      "evidence": "Banded scenario columns Low/High.",
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