Epstein Secrets

idering the market is set for an Appalachian-driven production surge in 2018 given significant progress made on takeaway capacity expansion in the Northeast. About 4 Bcf/d of takeaway capacity has been added in the region between July and mid-November and another -4 Bcf/d of new capacity is scheduled t

these names have driven solid improvements to their opex/capex cost structure in recent years driving down FCF breakeven oil price substantially. Deutsche Bank Securities Inc. CONFIDENTIAL - PURSUANT TO FED. R. CRIM. P. 6(e) CONFIDENTIAL DB-SDNY-0086603 SDNY_GM_00232787 EFTA01385319

orporate Credit HY Multi Sector,Media. Cable & Satellite Figure 16: Cumulative additional natural gas pipeline project capacity originating in the Northeast bi*on thin ttret opt lay gaintra in-senice capacity from Northeast or Appalachian Basin lo 9 2 1 0 Source 001 7.17 8:17 9-17 10.17 11-171247

his expectation appears to be broadly back on track after weather in early December had opened up prospects of meaningful downside risks. Page 54 Deutsche Bank Securities Inc. CONFIDENTIAL - PURSUANT TO FED. R. CRIM. P. 6(e) DB-SDNY-0086613 CONFIDENTIAL SDNY_GM_00232797 EFTA01385329

floor maintained throughout the year. touching a low of $2.69 in mid-December. Since then, winter has revived and has been especially strong in the Northeast and Midwest, leading to a bounce back in gas prices to $2.86 by the end of the year. However, with another three months to go for end of the withdr

perational by the end of 01-18 (see chart below), including the 1.5 Bcf/d Leach Xpress and Phase 1B (1.40 Bcf/d) and Phase 2 (1.15 Bcf/d) of Rover. Deutsche Bank Securities Inc. Page 53 CONFIDENTIAL - PURSUANT TO FED. R. CRIM. P. 6(e) DB-SDNY-0086612 CONFIDENTIAL SDNY_GM_00232796 EFTA01385328