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  "documentTitle": "Baird | Investment Banking Pitch Book | 43 slides",
  "authorId": "baird",
  "authorName": "Baird",
  "documentKindSlug": "consulting-deck",
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  "sourceTypeSlug": "investment_bank",
  "sourceTypeLabel": "Investment bank",
  "presentationDate": "2018-03-01 00:00:00",
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  "pageNumber": 8,
  "pageCount": 43,
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  "density": "balanced",
  "nDataPoints": 20,
  "notes": "The slide uses arrows to annotate market trends: 'Flight-to-quality and the Permian' and 'Multiple Normalization'.",
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      "kind": "chart",
      "text": "Grouped bar chart showing EV/NTM EBITDA multiples by year and category",
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      "kind": "disclaimer",
      "text": "Source: S&P Capital IQ as of most recent filings. Market prices as of March 16, 2018. Note: multiples are unadjusted for non-E&P assets. (1) Large Cap index includes: APA, APC, CLR, DVN, EOG, HES, MRO, NBL and OXY. (2) Permian index includes: CDEV, CPE, CXO, EGN, FANG, JAG, LPI, MTDR, PE, PXD, RSPP and XEC. (3) Gas-weighted index includes: AR, CNX, COG, EQT, GPOR, RRC and SWN.",
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      "text": "Large Cap, Permian, Appalachia, Antero Resources",
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      "kind": "title",
      "text": "VALUATION MULTIPLES ACROSS THE E&P LANDSCAPE",
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      "kind": "title",
      "text": "Selected median trading multiples over the cycle",
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