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  "documentTitle": "Tudor, Pickering, Holt & Co | Investment Banking Pitch Book | 45 slides",
  "authorId": "tudor-pickering-holt-co",
  "authorName": "TPH",
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  "presentationDate": "2018-08-01 00:00:00",
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  "pageNumber": 40,
  "pageCount": 45,
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  "density": "dense",
  "nDataPoints": 160,
  "notes": "Includes three distinct tables analyzing leverage under base and downside scenarios, and a fourth table calculating tax liability.",
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      "kind": "disclaimer",
      "text": "CONFIDENTIAL DRAFT SUBJECT TO CHANGE",
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      "kind": "source-note",
      "text": "Source: Management projections and FactSet as of 8/10/2018. Note: PF AMGP revolver capacity assumed to be equal to AM revolver capacity of $1.5bn with Q3 balance of $389mm and $400mm in Base case and Downside case, respectively, based on Management projections. Utilizes adjusted PF AMGP Management coverage (breakeven coverage in 2018E followed by Management coverage assumptions in 2019E+. (1) Tax payable on equity component of consideration based on 1.71x XR and assumes average unitholder basis.",
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      "text": "Cash Consideration Sizing | 1.710x Equity Exchange Ratio",
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      "text": "PF AMGP Leverage Analysis | AR Base Case",
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      "kind": "table",
      "text": "PF AMGP Leverage Analysis | AR Downside Volumes Case",
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      "text": "Total Tax Liability | Basis for Average Unitholder",
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      "text": "Cash Consideration Sizing",
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