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Q1 2013 – Mid-Con Energy Partners Lp

Mid-Con Energy Partners Lp · May 8, 2013 · 12 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. Q1 2013 – Mid-Con Energy Partners Lp – slide 1
    Mid-Con Energy Partners, LP 1st Quarter 2013 Earnings Call May 8, 2013 Nasdaq : MCEP www.midconenergypartners.com 1
  2. Q1 2013 – Mid-Con Energy Partners Lp – slide 2
    First Quarter Highlights Production Growth Adjusted EBITDA Cash Distributions Average Boe/d (Net) Adjusted EBITDA (MM) Quarterly Distribution Per Unit 2,511 14.6 0.505 11.8 0.475 1,703 1Q12 1Q13 1Q12 1Q13 1Q12 1Q13 o Net…
  3. Q1 2013 – Mid-Con Energy Partners Lp – slide 3
    Earnings Summary Three Months Ended March 31, December 31, 2013 2012 2012 ( in thousands, except per unit data) Production: Oil (MBbl) 220 150 203 Natural gas (MMcf) 37 31 31 Total (MBoe) (1) 226 155 208 Average net daily…
  4. Q1 2013 – Mid-Con Energy Partners Lp – slide 4
    Distribution Growth o Three Consecutive Quarters of Distribution Growth The Board of Directors has declared a 0.01 per unit distribution increase in each quarter since 3Q 2012 o Approximate 6% Expansion In Quarterly Rate Since IPO…
  5. Q1 2013 – Mid-Con Energy Partners Lp – slide 5
    Coverage Ratio Calculation Three Months Ended March 31, 2013 ( in thousands, except per unit data) Adjusted EBITDA (1) 14,591 Less: Cash interest expense 560 Estimated maintenance capital expenditures 2,018 Distributable…
  6. Q1 2013 – Mid-Con Energy Partners Lp – slide 6
    Capital Expenditures 1Q 2013 Capital Expenditures o 7.5 Million In Total CapEx Maintenance: 2.0 million Growth: 5.5 million Maintenance CapEx o Focused on Adding Producers 2.0 Million 7 out of 8 total new wells drilled during…
  7. Q1 2013 – Mid-Con Energy Partners Lp – slide 7
    Borrowing Base and Liquidity Revolving Credit Facility o 130 Million Borrowing Base ( in millions) Unanimously reaffirmed by lender 140.0 group in April 2013 130.0 Next scheduled redetermination on or 120.0 around October 30,…
  8. Q1 2013 – Mid-Con Energy Partners Lp – slide 8
    Hedge Profile o Mid-Con Energy has commodity derivatives covering approximately 75%, 70% and 5% of estimated average daily oil production from proved reserves for calendar years 2013, 2014 and 2015, respectively Apr-Dec 2013 2014…
  9. Q1 2013 – Mid-Con Energy Partners Lp – slide 9
    Contact Information Headquarters Investor Relations Contact 2501 N. Harwood Jeffrey Olmstead Suite 2410 President and CFO Dallas, TX 75201 jolmsteadmidcon-energy.com 972.479.5980 972.479.5980 Matthew Lewis Tulsa Operations…
  10. Q1 2013 – Mid-Con Energy Partners Lp – slide 10
    Appendix: Non-GAAP Measures o 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…
  11. Q1 2013 – Mid-Con Energy Partners Lp – slide 11
    Appendix: Hedge Detail Months Settlement Instrument Total Bbls. NYMEX Outstanding Price Floor Ceiling Type Per Month Index Apr-Dec 2013 105.80 Swap 6,000 WTI Apr-Dec 2013 100.00 111.00 Collar 6,000 WTI Apr-Dec 2013 96.00 Swap 8,000…
  12. Q1 2013 – Mid-Con Energy Partners Lp – slide 12
    Appendix: 2013 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…

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