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  "documentTitle": "Tudor, Pickering, Holt & Co | Investment Banking Pitch Book | 116 slides",
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  "authorName": "Tudor, Pickering, Holt & Co",
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  "presentationDate": "2018-11-01 00:00:00",
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  "notes": "The chart illustrates sensitivity to yield assumptions on the valuation of AM.",
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      "kind": "callout",
      "text": "CONFIDENTIAL DRAFT SUBJECT TO CHANGE",
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      "text": "Management projections; Valuation date as of 6/30/18; Future share price calculated at FY1 annual distributions divided by yield; Discounted to 6/30/18 at 10% cost of equity; Interim distributions discounted upon receipt to 6/30/18",
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      "text": "Source: Management projections and FactSet as of 8/21/2018. Note: Valuation based on annual distributions.",
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      "text": "AM Illustrative Discounted Future Value",
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      "kind": "title",
      "text": "AR Downside Volumes Case",
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