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  "documentTitle": "Evercore | Investment Banking Pitch Book | 37 slides",
  "authorId": "evercore",
  "authorName": "Evercore",
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  "sourceTypeLabel": "Investment bank",
  "presentationDate": "2012-12-01 00:00:00",
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  "pageNumber": 33,
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  "notes": "The slide details specific drilling rig schedules, production decline curves, condensate ratios, and pricing assumptions used in the financial model.",
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      "text": "$0.15 per Mcfe of marketing and transportation costs (as per MMR estimates)\nORRI Trust units based on fully-diluted shares as of December 31, 2012\nTerm of 20 years\n5% ORRI",
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      "text": "NYMEX strip pricing as of December 3, 2012 through 2017E and then held flat thereafter\nNatural gas prices of ($/Mcfe): 2013E: $3.73; 2014E: $4.10; 2015E: $4.27; 2016E: $4.42; Thereafter: $4.60 flat",
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      "text": "Volumes and risking for specific ultra-deep prospects and discoveries (as per MMR estimates)\nGeologic and mechanical risking was estimated by Evercore and reviewed by MMR’s technical team with Evercore\nUtilized an expected value analysis based on the assumed geologic and mechanical risking\nEach well has a 200 Bcfe EUR\nDeveloped using a continuous four rig program through 2014, going to a six rig program in 2015 and finally an eight rig program by 2016, held constant thereafter\nLineham Creek Yegua wells begin drilling in January 2014 with an incremental non-operated drilling rig\nProduction for each well of 70 MMcfed held flat for six years, then exponential decline (as per MMR estimates)\nCondensate is 5% of well stream (8.8 bbl/MMcf); Lineham Creek Yegua wells assumed a condensate ratio of 50.0 bbl/MMcf\nWells take 1 year to drill and 6 months to complete with first production after 18 months",
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      "kind": "title",
      "text": "Overriding Royalty Interest Analysis – Assumptions",
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