{
  "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": 42,
  "pageCount": 77,
  "prevPage": 41,
  "nextPage": 43,
  "slideType": "comparison_table",
  "function": "compare_peers",
  "density": "dense",
  "nDataPoints": 150,
  "notes": "Includes a confidential draft watermark and detailed footnotes regarding calculation methodology.",
  "elementsJson": null,
  "metadataConfidence": 1,
  "imagePath": null,
  "slideHref": "/slides/019de50f-3b3c-714c-9c2c-c2f457616c42/42",
  "deckHref": "/decks/019de50f-3b3c-714c-9c2c-c2f457616c42",
  "deckJsonHref": "/decks/019de50f-3b3c-714c-9c2c-c2f457616c42.json",
  "deckAnchorHref": "/decks/019de50f-3b3c-714c-9c2c-c2f457616c42#slide-42",
  "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": "1300be6c-9232-4149-aeed-3f568a8fdc14",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.1,
        "w": 0.5,
        "x": 0.05,
        "y": 0.88
      },
      "kind": "disclaimer",
      "text": "Source: FactSet as of 10/3/2018 and Wall Street research. Note: Assumes AMGP share price of $17.35 for offer / AM Proposal metrics. (1) For C-corps, CAGR calculated using Q4 2017 dividend annualized and 2020E dividend. (2) Calculated as equity value to LP DCF. (3) DCF calculated as EBITDA less interest expense and maintenance capital. (4) Defined as high-growth MLP if current - 2020E distribution growth CAGR is greater than 10%.",
      "attrs": null,
      "subkind": null,
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "a5fa1de8-07c6-47d2-acc3-45d22fb76261",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.05,
        "w": 0.2,
        "x": 0.75,
        "y": 0.92
      },
      "kind": "image",
      "text": "TUDOR PICKERING HOLT & CO",
      "attrs": null,
      "subkind": "logo",
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "5e6d52f8-f2e2-43f3-b79d-dbfc67004be8",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.65,
        "w": 0.93,
        "x": 0.05,
        "y": 0.12
      },
      "kind": "table",
      "text": "Comparison table of Midstream C-Corps and High-Growth MLPs with columns for Unit Price, Equity Value, TEV, Distribution Yield, Growth, and Valuation Multiples.",
      "attrs": null,
      "subkind": "data",
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "c8851e11-af04-4489-a061-3fda2859bc72",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.05,
        "w": 0.6,
        "x": 0.05,
        "y": 0.02
      },
      "kind": "title",
      "text": "PF AMGP Selected Public Trading Comparables",
      "attrs": null,
      "subkind": "headline",
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "4d8c90ea-933a-431a-a8fa-ea144b3b71ac",
      "frameworkName": null,
      "frameworkSlug": null
    }
  ],
  "metrics": [],
  "tools": [],
  "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
}