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Fourth Quarter and Full Year 2013 Earnings Presentation – Constellation Energy Group Inc.

Constellation Energy Group Inc. · Mar 26, 2014 · 10 slides

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Slides

  1. Fourth Quarter and Full Year 2013 Earnings Presentation – Constellation Energy Group Inc. – slide 1
    Constellation Energy Partners LLC Fourth Quarter and Full Year 2013 Earnings Presentation March 26, 2014
  2. Fourth Quarter and Full Year 2013 Earnings Presentation – Constellation Energy Group Inc. – slide 2
    Updates Operating highlights: (1) 51% of FY13 sales revenue from oil Average daily net oil production of 606 Bbl in FY13, up 84% over FY12 FY13 operating cost of 24.69 per BOE (4.11 per Mcfe), down 4% vs. FY12 (2),(3) SEC oil…
  3. Fourth Quarter and Full Year 2013 Earnings Presentation – Constellation Energy Group Inc. – slide 3
    Q413 Financial Results Q413 vs. Q313 Q413 vs. Q412 ( in 000s unless noted) Q413 Q313 Q413 Q412 Production (MBOE) 387 335 387 339 Oil & Gas Sales 17,455 16,476 17,455 13,690 Gain (Loss) from Mark-to-Market Activities (5,997)…
  4. Fourth Quarter and Full Year 2013 Earnings Presentation – Constellation Energy Group Inc. – slide 4
    2014 Forecast Forecast Component 2014 Forecast Total Capital Spending 20.0 MM - 22.0 MM Total Net Production 1,346 MBOE 1,552 MBOE Production Mix: Oil 270,000 305,000 Bbls Liquids 26,000 30,000 Bbls Natural Gas 6.3 7.3 Bcf Sales…
  5. Fourth Quarter and Full Year 2013 Earnings Presentation – Constellation Energy Group Inc. – slide 5
    Appendix
  6. Fourth Quarter and Full Year 2013 Earnings Presentation – Constellation Energy Group Inc. – slide 6
    Portfolio Summary Constellation Energy Partners LLC Existing Reserves New Activity Total: 104 Bcfe Drilling focus: Cherokee Basin oil opportunities in the Pennsylvanian aged Proved reserves, total: 73 Bcfe horizon with the Burgess,…
  7. Fourth Quarter and Full Year 2013 Earnings Presentation – Constellation Energy Group Inc. – slide 7
    Natural Gas Hedge Positions(1) Fixed Price Swaps(2) MMBtu Hedged Weighted Average Sales Price (/MMBtu) 2014 6,387,500 5.75 2015 4,515,149 4.25 2016 3,795,032 4.21 Basis Swaps MMBtu Hedged Weighted Average Sales Price (/MMBtu)…
  8. Fourth Quarter and Full Year 2013 Earnings Presentation – Constellation Energy Group Inc. – slide 8
    Oil Hedge Positions(1) Fixed Price Swaps Bbl Hedged Weighted Average Sales Price (/Bbl) 2014 222,476 94.70 2015 175,813 91.02 2016 66,117 85.50 (1) As of December 31, 2013 NOTE: The company accounts for derivatives using the…
  9. Fourth Quarter and Full Year 2013 Earnings Presentation – Constellation Energy Group Inc. – slide 9
    Non-GAAP Financial Measures Use of Non-GAAP Financial Measures: EBITDA and Adjusted EBITDA are non-GAAP financial measures that are reconciled to their most comparable GAAP financial measure under Reconciliation of Non-GAAP Financial…
  10. Fourth Quarter and Full Year 2013 Earnings Presentation – Constellation Energy Group Inc. – slide 10
    Reconciliation Items* Reconciliation of Net Income (Loss) to Adjusted EBITDA ( in 000s) YTD13 Q413 Q313 Q213 Q113 Q412 YTD12 Net income (loss) (25,857) (13,066) (3,257) 1,112 (10,646) (2,200) (9,462) Interest (income) expense, net…

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