{
  "docId": "019de50f-2706-763f-9734-587d3867eb97",
  "docSlug": "c7d3c8c12b4d90d2695b3c13312f33b0",
  "documentTitle": "Tudor, Pickering, Holt & Co | Investment Banking Pitch Book | 122 slides",
  "authorId": "tudor-pickering-holt-co",
  "authorName": "Tudor Pickering Holt",
  "documentKindSlug": "consulting-deck",
  "documentKindLabel": "Consulting deck",
  "sourceTypeSlug": "investment_bank",
  "sourceTypeLabel": "Investment bank",
  "presentationDate": "2018-08-01 00:00:00",
  "orientation": "landscape",
  "aspectRatio": 1.3426573,
  "pageNumber": 43,
  "pageCount": 120,
  "prevPage": 42,
  "nextPage": 44,
  "slideType": "financial_analysis",
  "function": "analyze_data",
  "density": "balanced",
  "nDataPoints": 54,
  "notes": "Contains multiple sensitivity tables for valuation metrics.",
  "elementsJson": null,
  "metadataConfidence": 1,
  "imagePath": null,
  "slideHref": "/slides/019de50f-2706-763f-9734-587d3867eb97/43",
  "deckHref": "/decks/019de50f-2706-763f-9734-587d3867eb97",
  "deckJsonHref": "/decks/019de50f-2706-763f-9734-587d3867eb97.json",
  "deckAnchorHref": "/decks/019de50f-2706-763f-9734-587d3867eb97#slide-43",
  "components": [
    {
      "bbox": {
        "h": 0.03,
        "w": 0.4,
        "x": 0.05,
        "y": 0.08
      },
      "kind": "paragraph",
      "text": "Pre - Unitholder Tax | Valuation Effective Date: 6/30/2018",
      "attrs": null,
      "subkind": "paragraph",
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "7949e7a7-cfd8-4731-8603-3de1d26ab1e4",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.05,
        "w": 0.65,
        "x": 0.05,
        "y": 0.94
      },
      "kind": "source-note",
      "text": "Source: Management projections and FactSet as of 8/10/2018. (1) Unlevered free cash flow defined as PF AMGP EBITDA less cash taxes and capital expenditures. Implied equity value per share backs out implied AM Q2 2018 net debt per share.",
      "attrs": null,
      "subkind": null,
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "e1a240aa-ffb7-4136-b98c-eacb30d7b960",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.75,
        "w": 0.45,
        "x": 0.52,
        "y": 0.14
      },
      "kind": "table",
      "text": "XR Adjusted PF AMGP Implied Share Price sensitivity tables",
      "attrs": null,
      "subkind": "valuation",
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "0b6c35f6-554d-4b82-960b-32e915bcb759",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.45,
        "w": 0.45,
        "x": 0.05,
        "y": 0.14
      },
      "kind": "table",
      "text": "Stand Alone AM Implied Unit Price sensitivity tables",
      "attrs": null,
      "subkind": "valuation",
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "8236cc62-3788-4866-bc49-33f6f024e38b",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.05,
        "w": 0.4,
        "x": 0.05,
        "y": 0.03
      },
      "kind": "title",
      "text": "Has / Gets Analysis | AR Base Case",
      "attrs": null,
      "subkind": "headline",
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "691e88e3-c62a-418e-b5ca-f82bc04db800",
      "frameworkName": null,
      "frameworkSlug": null
    }
  ],
  "metrics": [],
  "tools": [],
  "frameworks": [
    {
      "name": "sensitivity-analysis",
      "slug": null,
      "matchId": "50f9dfab-b08f-4be2-82e2-cab20f110a08",
      "evidence": "Multiple tables showing impact of varying discount rates and multiples on share price",
      "confidence": 1
    }
  ],
  "arcBeats": [
    {
      "to": 49,
      "from": 33,
      "beatId": "1b6a0f91-0ef0-4880-9405-703552a90a0b",
      "arcName": "The Consultant's Gambit",
      "arcSlug": "consultants-gambit",
      "beatName": "Impact & Next Steps",
      "beatSlug": "consultants-gambit-impact-next-steps",
      "evidence": "The document outlines the pro forma impact of the proposed transaction, including distributable cash flow accretion and distribution growth.",
      "position": 3,
      "confidence": 0.8,
      "parentBeatName": "Resolution",
      "parentBeatSlug": "resolution"
    }
  ],
  "loops": [],
  "imagePathAlt": null,
  "thumbSrc": null,
  "thumbSrcAlt": null,
  "locked": true
}