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JANUARY 2015 INVESTOR PRESENTATION – Mid-Con Energy Partners Lp

Mid-Con Energy Partners Lp · Jan 9, 2015 · 37 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. JANUARY 2015 INVESTOR PRESENTATION – Mid-Con Energy Partners Lp – slide 1
    Mid-Con Energy Partners, LP Investor Presentation Financial information as of January 9, 2015 NASDAQ: MCEP www.midconenergypartners.com 1
  2. JANUARY 2015 INVESTOR PRESENTATION – 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. JANUARY 2015 INVESTOR PRESENTATION – Mid-Con Energy Partners Lp – slide 3
    The Right Strategy NASDAQ: MCEP www.midconenergypartners.com 4
  4. JANUARY 2015 INVESTOR PRESENTATION – Mid-Con Energy Partners Lp – slide 4
    Mid-Con Energy Partners, LP The Waterflood Guys Reserves and Production Core strength in enhanced oil recovery, focusing on waterflooding Reserves(1): 24.1 MMboe Employees have prior experience in over 150 waterflood Proved…
  5. JANUARY 2015 INVESTOR PRESENTATION – Mid-Con Energy Partners Lp – slide 5
    Operating Strategy Increase production and recovery from existing reserve portfolio (95% Oil) Exploit Potential Of Existing Average daily production in 3Q14 increased 23% from 3Q13 Property Base 34.5% CAGR in production since IPO…
  6. JANUARY 2015 INVESTOR PRESENTATION – Mid-Con Energy Partners Lp – slide 6
    Waterflooding Overview Waterflooding increases production and recovery of oil in place by displacing oil from injection wells to producing wells Historically, the success of waterfloods has been attributable to the quality of the…
  7. JANUARY 2015 INVESTOR PRESENTATION – Mid-Con Energy Partners Lp – slide 7
    Oil Recovery Overview Original Oil In Place OOIP Primary Production 10 to 25% Initial production from the reservoir typically recovered as a result of expansion of reservoir fluids which are naturally pressured within the…
  8. JANUARY 2015 INVESTOR PRESENTATION – Mid-Con Energy Partners Lp – slide 8
    The Right Team NASDAQ: MCEP www.midconenergypartners.com 9
  9. JANUARY 2015 INVESTOR PRESENTATION – Mid-Con Energy Partners Lp – slide 9
    The Waterflood Guys EXPERIENCE: Our management team and employees have designed, engineered and operated over 150 projects in 13 states. EXPERTISE: Dr. Mike Wiggins, our President and Chief Engineer, has been widely recognized for…
  10. JANUARY 2015 INVESTOR PRESENTATION – Mid-Con Energy Partners Lp – slide 10
    The Right Assets NASDAQ: MCEP www.midconenergypartners.com 11
  11. JANUARY 2015 INVESTOR PRESENTATION – Mid-Con Energy Partners Lp – slide 11
    YTD Acquisitions: Adding Quality Properties Oilton Drop-Down August 5, 2014: Acquired a 97% working interest in the Oilton Field for 56.5 million, Hugoton Drop-Down adding 2.6 MMboe of net proved reserves (88% February 28, 2014:…
  12. JANUARY 2015 INVESTOR PRESENTATION – Mid-Con Energy Partners Lp – slide 12
    Eastern Shelf Acquisition On October 13, 2014, MCEP announced an agreement to purchase mature producing assets that are in the early stages of redevelopment in the Permian Eastern Shelf for 120.0 million Attractive producing…
  13. JANUARY 2015 INVESTOR PRESENTATION – Mid-Con Energy Partners Lp – slide 13
    Asset Overview(1)(2) Hugoton Northeastern Oklahoma % of Total Reserves 18% % of Total Reserves 34% % of Total Daily Production 15% % of Total Daily Production 29% Tulsa Office Southern Oklahoma Eastern Shelf % of Total…
  14. JANUARY 2015 INVESTOR PRESENTATION – Mid-Con Energy Partners Lp – slide 14
    Oil Weighting Affords Peer-Leading Margins 3Q14 Adjusted EBITDA Per Boe Peer Comparison(1)(2) 98% 60 100% 53.52 90% 50 80% 70% 40 % Oil Production 57% 58% 60% Per Boe 30 Peer Average: 27.97 Per Boe 50% 41%…
  15. JANUARY 2015 INVESTOR PRESENTATION – Mid-Con Energy Partners Lp – slide 15
    Merit of EOR Assets Gaining Recognition Among MLP Peers Upstream MLP EOR Transactions Over Last 24 Months 1 LINE Sep-14 680 2 LRE Sep-14 38 3 ARP May-14 420 4 MEMP May-14 935 LINE Salt Creek Field(4) 5 LGCY Mar-14 112 Subtotal…
  16. JANUARY 2015 INVESTOR PRESENTATION – Mid-Con Energy Partners Lp – slide 16
    The Right Structure NASDAQ: MCEP www.midconenergypartners.com 17
  17. JANUARY 2015 INVESTOR PRESENTATION – Mid-Con Energy Partners Lp – slide 17
    Capitalization, Leverage & Liquidity(1) Capital Structure Low Leverage: 2.75x Debt to EBITDA(2) 300 5.0x 4.5x 250 4.0x 3.5x 200 ( in millions) 3.0x 150 2.5x 51% 49% 2.0x 100 1.5x 1.0x 50 0.5x - 0.0x 1Q14 2Q14…
  18. JANUARY 2015 INVESTOR PRESENTATION – Mid-Con Energy Partners Lp – slide 18
    Hedge Profile Production based on September 2014 production of 3,348 Boe/d plus announced Eastern Shelf acquisition production of 1,197 Boe/d. NASDAQ: MCEP www.midconenergypartners.com 19
  19. JANUARY 2015 INVESTOR PRESENTATION – Mid-Con Energy Partners Lp – slide 19
    Investment Highlights The The Right Right Strategy Team The The Right Right Assets Structure NASDAQ: MCEP www.midconenergypartners.com 20
  20. JANUARY 2015 INVESTOR PRESENTATION – Mid-Con Energy Partners Lp – slide 20
    Contact Information Headquarters Investor Relations 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 Tulsa, OK…
  21. JANUARY 2015 INVESTOR PRESENTATION – Mid-Con Energy Partners Lp – slide 21
    Appendix NASDAQ: MCEP www.midconenergypartners.com 22
  22. JANUARY 2015 INVESTOR PRESENTATION – Mid-Con Energy Partners Lp – slide 22
    Appendix: Southern Oklahoma Asset Overview 19% of Total MCEP Reserves(1) 26% of Total MCEP Daily Production(2) Carter and Love Counties, OK Six Properties: Ardmore West Eastman Hills Highlands Battle Springs Southeast Hewitt…
  23. JANUARY 2015 INVESTOR PRESENTATION – Mid-Con Energy Partners Lp – slide 23
    Appendix: Northeastern Oklahoma Asset Overview KS 34% of Total MCEP Reserves(1) OK 29% of Total MCEP Production(2) Osage, Pawnee, Creek and Osage Seminole Counties, OK Skiatook Five Properties: Cleveland Cushing Cleveland…
  24. JANUARY 2015 INVESTOR PRESENTATION – Mid-Con Energy Partners Lp – slide 24
    Appendix: Hugoton Asset Overview Harker Ranch Cheyenne 18% of Total MCEP Reserves(1) 15% of Total MCEP Daily Production(2) Cheyenne County, CO Potter County, TX Cimarron and Texas Counties, OK Eight Properties: CO KS Harker…
  25. JANUARY 2015 INVESTOR PRESENTATION – Mid-Con Energy Partners Lp – slide 25
    Appendix: Gulf Coast TX Asset Overview 3% of Total MCEP Reserves(1) 3% of Total MCEP Production(2) Liberty County, TX One Property: Liberty Liberty South Liberty South (1) Total estimated proved reserves of 18.0 MMboe at…
  26. JANUARY 2015 INVESTOR PRESENTATION – Mid-Con Energy Partners Lp – slide 26
    Appendix: Permian Asset Overview 25% of Total MCEP Reserves(1) Kent Stonewall Haskell 26% of Total MCEP Daily Production(2) Closed November 17, 2014 Eleven Counties in Texas: Fisher Jones Coke Coleman Nolan Taylor Fisher…
  27. JANUARY 2015 INVESTOR PRESENTATION – Mid-Con Energy Partners Lp – slide 27
    Appendix: 3Q14 Highlights and Announced Acquisitions 3Q14 average net production of 3,098 Boe/d increased approximately 23% above Production 3Q13 average net production September 2014 net production averaged 3,348 Boe/d In August…
  28. JANUARY 2015 INVESTOR PRESENTATION – Mid-Con Energy Partners Lp – slide 28
    Appendix: 3Q14 Earnings Summary Three Months Ended Variance Analysis September 30, June 30, September 30, Quarter-over-quarter Year-over-year 2014 2014 2013 % % Production Oil (MBbl) 279 245 227 34 13.9% 52 22.9% Natural gas (MMcf)…
  29. JANUARY 2015 INVESTOR PRESENTATION – Mid-Con Energy Partners Lp – slide 29
    Appendix: 3Q14 Income Statement Summary Three Months Ended Variance Analysis September 30, June 30, September 30, Quarter-over-quarter Year-over-year (unaudited, in thousands, except per unit data) 2014 2014 2013 % % Oil sales…
  30. JANUARY 2015 INVESTOR PRESENTATION – Mid-Con Energy Partners Lp – slide 30
    Appendix: 3Q14 Non-GAAP Measures Three Months Ended Variance Analysis September 30, June 30, September 30, Quarter-over-quarter Year-over-year (unaudited, in thousands, except per unit data) 2014 2014 2013 % % Net Income 17,002…
  31. JANUARY 2015 INVESTOR PRESENTATION – Mid-Con Energy Partners Lp – slide 31
    Appendix: 3Q14 Operating Results per Boe Three Months Ended Variance Analysis September June September Quarter-over-quarter Year-over-year Operating Results per Boe (/Boe) 30, 2014 30, 2014 30, 2013 % % Oil & Natural Gas Sales 91.84…
  32. JANUARY 2015 INVESTOR PRESENTATION – Mid-Con Energy Partners Lp – slide 32
    Appendix: Increasing Injection = Increasing Production *Injection and production volumes are presented on a gross basis. NASDAQ: MCEP www.midconenergypartners.com 33
  33. JANUARY 2015 INVESTOR PRESENTATION – Mid-Con Energy Partners Lp – slide 33
    Appendix: Increasing Injection = Increasing Production *Injection and production volumes are presented on a gross basis. NASDAQ: MCEP www.midconenergypartners.com 34
  34. JANUARY 2015 INVESTOR PRESENTATION – Mid-Con Energy Partners Lp – slide 34
    Appendix: Increasing Injection = Increasing Production NASDAQ: MCEP www.midconenergypartners.com 35
  35. JANUARY 2015 INVESTOR PRESENTATION – Mid-Con Energy Partners Lp – slide 35
    Appendix: Mid-Con Energy Timeline 1986 The 2004 Mid-Con Energy 2011 Merged Mid- genesis of Mid- I, LLC formed with Con Energy I/II into November Con Energys properties contributed Mid-Con Energy August 5 17 original by Olmstead…
  36. JANUARY 2015 INVESTOR PRESENTATION – Mid-Con Energy Partners Lp – slide 36
    Appendix: Partnership Structure and Ownership 100% Mid-Con Energy MCEP GP, LLC As of September 30, 2014 Founders(1) Officers & Directors 2% 29% Institutional Mid-Con Energy Mid-Con Energy Affiliates 16% Public Ownership…
  37. JANUARY 2015 INVESTOR PRESENTATION – Mid-Con Energy Partners Lp – slide 37
    NASDAQ: MCEP www.midconenergypartners.com NASDAQ: MCEP www.midconenergypartners.com 38

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