Mid-Con Energy Partners, LP 1st Quarter 2012 Earnings Call May 9, 2012
First Quarter 2012 Highlights Increased Production 85% YoY 1Q12 production average of 1,703 Boe per day, up from 922 Boe per day in 1Q11 1Q12 production increased 15% compared to 4Q11 average of 1,481 Boe per day Increased Adjusted…
Earnings Summary Three Months Ended March 31, December 31, 2012 2011 2011 ( in thousands, except per unit data) Production: Oil (MBbl) 150 76 130 Natural gas (MMcf) 31 44 38 Total (MBoe) (1) 155 83 136 Average net daily…
Coverage Ratio Calculation (in thousands, except per unit data) Three Months Ended March 31, 2012 Adjusted EBITDA (1) 11,777 Less: Cash interest expense 340 Estimated maintenance capital expenditures 1,339 Distributable Cash…
Borrowing Base and Liquidity Update Current borrowing base of Revolving Credit Facility ( in millions) 100 million, increased from 100.0 75 million as a result of April 25.0 58.0 2012 redetermination Added Liquidity From Borrowing…
Hedging Strategy Mid-Con intends to hedge a significant portion of its production to minimize the impact of commodity price volatility on available cash Protect coverage and distributions over time through a prudent use of hedges…
Hedging Detail The following table reflects existing commodity derivative positions for 2012, 2013 and 2014: Months Settlement Instrument Total Bbls. NYMEX Outstanding Price Floor Ceiling Type Per Month Index Apr-Dec 2012 100.00…
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 income,…
Contact Information Headquarters: Tulsa Operations: 2501 N. Harwood Street, Suite 2410 2431 E. 61st Street, Suite 850 Dallas, TX 75201 Tulsa, Oklahoma 74136 (972) 479-5980 (918) 743-7575 Contact: Jeffrey Olmstead President and Chief…
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