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Q1 2015 EARNINGS CALL – Mid-Con Energy Partners Lp

Mid-Con Energy Partners Lp · May 4, 2015 · 13 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 2015 EARNINGS CALL – Mid-Con Energy Partners Lp – slide 1
    Mid-Con Energy Partners, LP Supplemental: First Quarter 2015 Results May 4, 2015 Financial information as of May 4, 2015 NASDAQ: MCEP www.midconenergypartners.com 1
  2. Q1 2015 EARNINGS CALL – 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. Q1 2015 EARNINGS CALL – Mid-Con Energy Partners Lp – slide 3
    First Quarter 2015 Results Production 1Q15 average net production of 4,578 Boe/d increased approximately 14% over 4Q14 Growth LOE 1Q15 LOE averaged 21.64/Boe, in-line with the previous quarter Adjusted EBITDA(1) 1Q15 Adjusted…
  4. Q1 2015 EARNINGS CALL – Mid-Con Energy Partners Lp – slide 4
    1Q15 Capital Expenditures Growth & Maintenance CapEx 5.0 million in total CapEx Maintenance: 2.7 Million Maintenance Growth: 2.3 Million CapEx 2.7 Million Spud 2 producing wells during the quarter 1 of 2 new producing wells…
  5. Q1 2015 EARNINGS CALL – Mid-Con Energy Partners Lp – slide 5
    1Q15 Development Activity(1) Northeastern Oklahoma Hugoton 1 Conversion to Injection 1 Conversion to Injection 3 Recompletions Tulsa Office Southern Oklahoma Permian 1 Conversion to Injection 2 Producing Wells (1…
  6. Q1 2015 EARNINGS CALL – Mid-Con Energy Partners Lp – slide 6
    Financial and Operating Results Three Months Ended Variance Analysis March 31, December 31, March 31, Quarter-over-quarter Year-over-year (unaudited, in thousands, except per unit data) 2015 2014 2014 % % Oil (MBbl) 391 356 232 35…
  7. Q1 2015 EARNINGS CALL – Mid-Con Energy Partners Lp – slide 7
    Non-GAAP Summary(1) Three Months Ended Variance Analysis March 31, December 31, March 31, Quarter-over-quarter Year-over-year (unaudited, in thousands, except per unit data) 2015 2014 2014 % % Net income (loss) (4,112) 82 1,561…
  8. Q1 2015 EARNINGS CALL – Mid-Con Energy Partners Lp – slide 8
    Operating Results per Boe Three Months Ended Variance Analysis March 31, December 31, March 31, Quarter-over-quarter Year-over-year Operating Results per Boe (/Boe) 2015 2014 2014 % % Oil & natural gas sales revenues 42.65 66.66 92.40…
  9. Q1 2015 EARNINGS CALL – Mid-Con Energy Partners Lp – slide 9
    Hedge Profile Hedge Volumes (LHS) Hedge Prices (RHS) WTI Futures (RHS) 3,500 100 3,000 90 Production Hedged (Bbl/d) Average Prices (/Bbl) 2,500 80 2,000 70 1,500 60 1,000 500 50 - 40 2Q15 3Q15 4Q15 1Q16 2Q16 3Q16…
  10. Q1 2015 EARNINGS CALL – Mid-Con Energy Partners Lp – slide 10
    Capitalization, Leverage & Liquidity(1) Capital Structure Low Leverage: 2.76x Debt to EBITDA(2) 300 4.0x Debt to EBITDA Covenant (RHS) 4.5 250 3.5 200 2.5 ( in millions) 150 1.5 50% 50% 100 50 0.5 0 -0.5 2Q14 3Q14…
  11. Q1 2015 EARNINGS CALL – Mid-Con Energy Partners Lp – slide 11
    2015 Guidance and Capital Budget(1) 2015 & 2016 Distribution Coverage Sensitivity 2015 Guidance and Capital Budget 2015 (2) Net production (Boe/d) 4,050 - 4,450 Lease operating expenses per Boe 20.00 - 24.00 Production taxes (% of…
  12. Q1 2015 EARNINGS CALL – Mid-Con Energy Partners Lp – slide 12
    Investment Highlights The The Right Right Strategy Team The The Right Right Assets Structure NASDAQ: MCEP www.midconenergypartners.com 13
  13. Q1 2015 EARNINGS CALL – Mid-Con Energy Partners Lp – slide 13
    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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