Mid-Con Energy Partners, LP 3rd Quarter 2012 Earnings Call November 7, 2012 NASDAQ: MCEP www.midconenergypartners.com 1
Mid-Con Energy Highlights Increased Increased Production 48% YoY Adjusted EBITDA 79% YoY 3Q 2012 average production of 1,913 3Q 2012 Adjusted EBITDA of 11.8 Boe per day, up from 3Q 2011 average million, compared to 6.6 million in 3Q…
Earnings Summary Three Months Ended September 30, June 30, 2012 2011 2012 ( in thousands, except per unit data) Production: Oil (MBbl) 171 111 154 Natural gas (MMcf) 31 47 28 Total (MBoe) (1) 176 119 159 Average net daily…
Coverage Ratio Calculation Three Months Ended September 30, 2012 ( in thousands, except per unit data) Adjusted EBITDA (1) 11,830 Less: Cash interest expense 340 Estimated maintenance capital expenditures 762 Distributable…
Borrowing Base and Liquidity Borrowing base of 100.0 million Revolving Credit Facility Liquidity of 41.1 million ( in millions) 100.0 1.1 million in cash and cash equivalents at September 30, 2012 100.0 40.0 million borrowings…
Current Hedge Profile Mid-Con Energy intends to hedge a significant portion of its production to minimize the impact of commodity price volatility on cash available for distribution Current Volumes Hedged & Average Floor Price 1,600…
Hedging Detail Months Settlement Instrument Total Bbls. NYMEX Outstanding Price Floor Ceiling Type Per Month Index Oct-Dec 2012 100.00 117.00 Collar 6,000 WTI Oct-Dec 2012 104.28 Swap 6,000 WTI Oct-Dec 2012 100.00 Swap 8,000 WTI…
Capital Expenditures 3Q 2012 capital expenditures of 9.5 million ( in millions) 3Q 2012 (Actual) 4Q 2012 (Estimated) Capital Expenditures Capital Expenditures Growth Maint. Total Growth Maint. Total Hugoton Basin 1.6 0.2 1.8 - 0.1…
Subsequent Events: Equity Offering On October 22, 2012 Mid-Con Energy completed its public offering of 4,600,000 units representing limited partner interests at a price to the public of 21.20 per unit Mid-Con Energy sold 1,000,000…
Subsequent Events: Distribution Growth Mid-Con Energys Board of Directors of its general partner increased the 3Q 2012 distribution by 0.01 to 0.485 per unit, or 1.94 per unit on an annualized basis Management is targeting annual…
Subsequent Events: War Party I and II Acquisition Acquisition Overview Closed in October 2012 for 3.7 million, subject to post-closing adjustments Acquired additional working interests in existing Mid-Con Energy operated War Party I…
Subsequent Events: Clawson Ranch Acquisition Acquisition Overview Closed in November 2012 for 28.9 million, subject to post-closing adjustments Previously announced acquisition of 71% of the working interests for 20.7 million in…
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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