{
  "docId": "019de50f-3b3c-714c-9c2c-c2f457616c42",
  "docSlug": "30cc3afb3ec34309d63f151f86a16f36",
  "documentTitle": "Tudor, Pickering, Holt & Co | Investment Banking Pitch Book | 77 slides",
  "authorId": "tudor-pickering-holt-co",
  "authorName": "TPH",
  "documentKindSlug": "consulting-deck",
  "documentKindLabel": "Consulting deck",
  "sourceTypeSlug": "investment_bank",
  "sourceTypeLabel": "Investment bank",
  "presentationDate": "2018-10-01 00:00:00",
  "orientation": "landscape",
  "aspectRatio": 1.3324081,
  "pageNumber": 31,
  "pageCount": 77,
  "prevPage": 30,
  "nextPage": 32,
  "slideType": "financial_analysis",
  "function": "analyze_data",
  "density": "dense",
  "nDataPoints": 44,
  "notes": "The slide presents two side-by-side charts: a stacked bar chart for ownership contribution and a horizontal bar chart for implied exchange ratios, both segmented by DCF and Distributions.",
  "elementsJson": null,
  "metadataConfidence": 1,
  "imagePath": null,
  "slideHref": "/slides/019de50f-3b3c-714c-9c2c-c2f457616c42/31",
  "deckHref": "/decks/019de50f-3b3c-714c-9c2c-c2f457616c42",
  "deckJsonHref": "/decks/019de50f-3b3c-714c-9c2c-c2f457616c42.json",
  "deckAnchorHref": "/decks/019de50f-3b3c-714c-9c2c-c2f457616c42#slide-31",
  "components": [
    {
      "bbox": {
        "h": 0.05,
        "w": 0.18,
        "x": 0.8,
        "y": 0.02
      },
      "kind": "callout",
      "text": "CONFIDENTIAL DRAFT SUBJECT TO CHANGE",
      "attrs": null,
      "subkind": "primary",
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "09187214-e072-43c0-aeb1-075d85294751",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.75,
        "w": 0.45,
        "x": 0.52,
        "y": 0.13
      },
      "kind": "chart",
      "text": "Implied Exchange Ratio | Series B Adjusted",
      "attrs": null,
      "subkind": "bar-horizontal",
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "f702b865-c66b-4bce-8522-620928872c11",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.75,
        "w": 0.45,
        "x": 0.05,
        "y": 0.13
      },
      "kind": "chart",
      "text": "Contribution Analysis Implied Ownership",
      "attrs": null,
      "subkind": "bar-stacked-100pct",
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "dfa204a8-3250-4b0f-8c3d-b6ebf62a0125",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.1,
        "w": 0.7,
        "x": 0.05,
        "y": 0.9
      },
      "kind": "source-note",
      "text": "Source: Management projections. FactSet as of 10/3/2018. Note: AM DCF calculated as LP Interest in EBITDA less interest expense, maintenance capex, and tax withholding reimbursements paid to AR. AMGP DCF calculated as IDR DCF less taxes on total IDR DCF less G&A expenses, AMGP distributions defined as distributions attributable to IDR, LLC less taxes paid on full distributions available to IDR, LLC less G&A. Note: Cash tax shield from Series B depreciation of ~$6mm per year. (1) Implied exchange ratios utilize adjusted AMGP share count of fully diluted AMGP shares outstanding + 17.354mm converted Series B units. (2) At Transaction: 1.6350x XR and $3.415 cash consideration / unit.",
      "attrs": null,
      "subkind": null,
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "6f1af192-c4f5-481b-b0e9-caca5b0fb5aa",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.03,
        "w": 0.6,
        "x": 0.05,
        "y": 0.08
      },
      "kind": "subtitle",
      "text": "AMGP DCF Contribution Based On Theoretical Taxes On All Distributable Cash Flow",
      "attrs": null,
      "subkind": null,
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "2f29ebf9-7073-4541-8e7e-456a61cbf51f",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.05,
        "w": 0.4,
        "x": 0.05,
        "y": 0.03
      },
      "kind": "title",
      "text": "Contribution Analysis | AR Base Case",
      "attrs": null,
      "subkind": "headline",
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "3d5c2774-6990-4330-a6ef-b58699ed62ae",
      "frameworkName": null,
      "frameworkSlug": null
    }
  ],
  "metrics": [],
  "tools": [
    {
      "name": "2x2 matrix",
      "slug": "matrix-2x2",
      "agent": null,
      "layer": "slide",
      "matchId": "8409380c-9eef-427f-b3f2-fda7200be71e",
      "evidence": "chart/bar-horizontal: Implied Exchange Ratio | Series B Adjusted",
      "confidence": 0.5
    }
  ],
  "frameworks": [],
  "arcBeats": [
    {
      "to": 77,
      "from": 26,
      "beatId": "107f6da8-d2d5-48c0-b61e-2e95e42b63ba",
      "arcName": "The Consultant's Gambit",
      "arcSlug": "consultants-gambit",
      "beatName": "Impact & Next Steps",
      "beatSlug": "consultants-gambit-impact-next-steps",
      "evidence": "The document discusses the pro forma impact, accretion/dilution analysis, and conclusions.",
      "position": 3,
      "confidence": 0.8,
      "parentBeatName": "Resolution",
      "parentBeatSlug": "resolution"
    }
  ],
  "loops": [],
  "imagePathAlt": null,
  "thumbSrc": null,
  "thumbSrcAlt": null,
  "locked": true
}