Mid-Con Energy Partners, LP 4th Quarter 2012 Earnings Call March 6, 2013 NASDAQ: MCEP www.midconenergypartners.com 1
2012 Highlights FY2012 average production of 1,907 Boe/d increased approximately 60% Significant Gains above FY2011 average production of 1,191 Boe/d In Production 4Q 2012 average production was 2,261 Boe/d Average production for the…
Earnings Summary Three Months Ended Year Ended December 31, December 31, 2012 2011 2012 2011 ( in thousands, except per unit data) Production: Oil (MBbl) 203 130 678 407 Natural gas (MMcf) 31 38 122 164 Total (MBoe) (1) 208 136 698…
Coverage Ratio Calculation Three Months Ended December 31, 2012 ( in thousands, except per unit data) Adjusted EBITDA (1) 13,348 Less: Cash interest expense 547 Estimated maintenance capital expenditures 1,070 Distributable…
Cumulative Distributions The Board of Directors declared a 0.01 per unit increase in the quarterly distribution rate for both the third and fourth quarter of 2012 Since completing its initial public offering in December 2011, Mid-Con…
Borrowing Base and Liquidity Revolving Credit Facility Borrowing base of 130.0 million ( in millions) 140.0 Liquidity of 53.1 million 1.1 million in cash and cash 120.0 equivalents at December 31, 2012 100.0 52.0 Borrowings…
Current Hedge Profile1 As of March 5, 2013, Mid-Con Energy has commodity derivatives covering approximately 76%, 70% and 5% of estimated average daily oil production from proved reserves for calendar years 2013, 2014 and 2015,…
Hedging Detail Months Settlement Instrument Total Bbls. NYMEX Outstanding Price Floor Ceiling Type Per Month Index Jan-Dec 2013 105.80 Swap 6,000 WTI Jan-Dec 2013 100.00 111.00 Collar 6,000 WTI Jan-Dec 2013 96.00 Swap 8,000 WTI…
2012 Capital Expenditures Growth & Maintenance CapEx By Core Area ( in thousands) ( in thousands) Growth Maintenance 14,000 12,000 11,474.8 Maintenance 4,236.7 10,000 2,310.7 8,000 Total 6,381.7 6,000 CapEx 1,148.6…
Asset Overview Proved Reserves At December 31, 2012 13.1 MMBoe Total Proved 2,376 net Boe/d for December 2012 Harker Ranch 67% Proved Developed R/P Ratio of 15 Years 99% Oil / 99% Operated 25,576 gross (19,185 net) acres CO Hugoton…
Proved Reserves By Core Area By Reserve Category 1% 1% 24% Other 33% PDBP NE Oklahoma PUD 67% 24% 13.1 14% Proved Hugoton MMBoe PDNP Developed 51% 52% S Oklahoma PDP NASDAQ: MCEP www.midconenergypartners.com 12
Core Area Production Average Net Production (Boe/d) For Month Ended December 31, 2012 % of Total 2011 % of Total YoY Southern Oklahoma 1,374 57.8% 1,022 64.0% 352 Northeastern Oklahoma 414 17.4% 362 22.6% 52 Hugoton Bain 556…
FY2013 Guidance ( in thousands, except per Boe and per unit metrics) 2013 Total Production: Oil (MBbl) 911 - 964 Natural Gas (MMcf) 66 - 77 Total (MBoe) (1) 922 - 976 Net Production Per Day: Oil (Bbl/d) 2,495 - 2,640 Natural Gas…
2013 Capital Budget Growth & Maintenance CapEx By Core Area ( in thousands) ( in thousands) Growth Maintenance 14,000 11,725.0 12,000 10,000 Maintenance 8,200.0 8,000 Total 5,675.0 6,150.0 6,000 CapEx 6,875.0 650.0…
Appendix: Non-GAAP Measures This presentation includes Adjusted EBITDA and Distributable Cash Flow, each of which are non- generally accepted accounting principles (Non-GAAP) measures, and should not be considered an alternative to net…
Contact Information Headquarters: Tulsa Operations: 2501 N. Harwood Street, Suite 2410 2431 E. 61st Street, Suite 850 Dallas, TX 75201 Tulsa, OK 74136 (972) 479-5980 (918) 743-7575 Contact: Jeffrey Olmstead President and Chief Financial…
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