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Q3 2014 – Mid-Con Energy Partners Lp

Mid-Con Energy Partners Lp · Nov 4, 2014 · 14 slides

Investor presentation from the Shale Experts oil & gas presentation and slide database. Every page is imaged and its text indexed for search across operators, plays, basins and time.

Slides

  1. Q3 2014 – Mid-Con Energy Partners Lp – slide 1
    Mid-Con Energy Partners, LP Supplemental Third Quarter Results November 4, 2014 Financial information as of November 3, 2014 NASDAQ: MCEP www.midconenergypartners.com 1
  2. Q3 2014 – Mid-Con Energy Partners Lp – slide 2
    Investment Highlights The The Right Right Strategy Team The The Right Right Assets Structure NASDAQ: MCEP www.midconenergypartners.com 3
  3. Q3 2014 – Mid-Con Energy Partners Lp – slide 3
    Highlights Production Adjusted Cash Growth EBITDA Distributions 3Q14 average net 3Q14 Adjusted Announced the production of 3,098 EBITDA of 15.3 quarterly distribution Boe/d increased million rate during 3Q14 of approximately 23%…
  4. Q3 2014 – Mid-Con Energy Partners Lp – slide 4
    Eastern Shelf Acquisition On October 13, 2014, MCEP announced an agreement to purchase mature producing assets that are in the early stages of redevelopment in the Permian Eastern Shelf for 120.0 million Attractive producing…
  5. Q3 2014 – Mid-Con Energy Partners Lp – slide 5
    YTD Acquisitions: Adding Quality Properties Oilton Drop-Down August 5, 2014: Acquired a 97% working interest in the Oilton Field for 56.5 million, Hugoton Drop-Down adding 2.6 MMboe of net proved reserves (88% February 28, 2014:…
  6. Q3 2014 – Mid-Con Energy Partners Lp – slide 6
    Earnings Summary Three Months Ended Variance Analysis September 30, June 30, September 30, Quarter-over-quarter Year-over-year 2014 2014 2013 % % Production Oil (MBbl) 279 245 227 34 13.9% 52 22.9% Natural gas (MMcf) 35 19 32 16…
  7. Q3 2014 – Mid-Con Energy Partners Lp – slide 7
    Income Statement Summary Three Months Ended Variance Analysis September 30, June 30, September 30, Quarter-over-quarter Year-over-year (unaudited, in thousands, except per unit data) 2014 2014 2013 % % Oil sales 26,011 24,216…
  8. Q3 2014 – Mid-Con Energy Partners Lp – slide 8
    Non-GAAP Measures Three Months Ended Variance Analysis September 30, June 30, September 30, Quarter-over-quarter Year-over-year (unaudited, in thousands, except per unit data) 2014 2014 2013 % % Net Income 17,002 3,847 4,257 13,155…
  9. Q3 2014 – Mid-Con Energy Partners Lp – slide 9
    Operating Results per Boe Three Months Ended Variance Analysis September June September Quarter-over-quarter Year-over-year Operating Results per Boe (/Boe) 30, 2014 30, 2014 30, 2013 % % Oil & Natural Gas Sales 91.84 98.13 99.06…
  10. Q3 2014 – Mid-Con Energy Partners Lp – slide 10
    3Q14 Capital Expenditures Growth & Maintenance CapEx 8.3 Million In Total CapEx Maintenance Maintenance: 2.4 Million CapEx Growth: 5.9 Million 2.4 Million Spud 13 Producing Wells and 2 Injection Well During Quarter 8.3 9 of…
  11. Q3 2014 – Mid-Con Energy Partners Lp – slide 11
    3Q14 Development Activity(1) Northeastern Oklahoma 9 Producing Wells (6 Pending) 2 Conversions To Injection 6 Recompletions Hugoton 3 Producing Wells (2 Pending) 2 Injection Well (2 Pending) Southern Oklahoma 1 Producing…
  12. Q3 2014 – Mid-Con Energy Partners Lp – slide 12
    Capitalization, Leverage & Liquidity(1) Conservative Capital Structure Low Leverage: 2.75x Debt to EBITDA(2) 200 5.00x 180 160 4.00x 140 27% 120 3.00x ( in millions) 100 80 2.00x 60 73% 40 1.00x 20 - 0.00x…
  13. Q3 2014 – Mid-Con Energy Partners Lp – slide 13
    Hedge Profile 3,000 Hedge Volumes (LHS) Hedge Prices (RHS) WTI Futures (RHS) 100 2,500 95 Production Hedged (Bbl/d) Average Prices (/Bbl) 2,000 90 1,500 85 1,000 80 500 75 - 70 4Q14 1Q15 2Q15 3Q15 4Q15 1Q16 2Q16 3Q16…
  14. Q3 2014 – Mid-Con Energy Partners Lp – slide 14
    Contact Information Headquarters Investor Relations Contact 2501 N. Harwood Krista McKinney Suite 2410 kmckinneymidcon-energy.com Dallas, TX 75201 972.479.5980 972.479.5980 Tulsa Operations 2431 E. 61st Street Suite 850…

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