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Mid-Con IDs 2017 Budget of $13 Million; Up +63% YOY
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Mid-Con Energy Partners reported its Q4 2016 results and its 2017 guidance.
2017 GuidanceBudget will be focused on Mid-Con's Permian and Oklahoma properties.
2017 capex of $13 million (up +63% from $8.0 million in 2016)
Full Year 2016 SummaryAverage daily production of 4,038 Boe/d was in-line with the mid-point of full year guidance. LOE averaged $15.35/Boe, a decrease of 21.5% year-over-year. Realized revenues, inclusive of cash settlements from matured derivatives, inclusive of net premiums, averaged $45.83/Boe, a decrease of 16.9% year-over-year. Full year net loss of $24.8 million in 2016 compared to net loss of $95.5 million in 2015. Adjusted EBITDA, a Non-GAAP measure, was $45.9 million, a decrease of 16.5% year-over-year. Completed non-scheduled redetermination of our…
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