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Q4 2014 RESULTS – Mid-Con Energy Partners Lp

Mid-Con Energy Partners Lp · Mar 2, 2015 · 14 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. Q4 2014 RESULTS – Mid-Con Energy Partners Lp – slide 1
    Mid-Con Energy Partners, LP Supplemental Fourth Quarter Results March 2, 2015 Financial information as of March 2, 2015 NASDAQ: MCEP www.midconenergypartners.com 1
  2. Q4 2014 RESULTS – 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. Q4 2014 RESULTS – Mid-Con Energy Partners Lp – slide 3
    4Q14 Capital Expenditures Growth & Maintenance CapEx 9.6 Million In Total CapEx Maintenance: 2.9 Million Maintenance Growth: 6.7 Million CapEx Spud 10 Producing Wells and 1 2.9 Million Water Supply Well During Quarter 4 of 10…
  4. Q4 2014 RESULTS – Mid-Con Energy Partners Lp – slide 4
    4Q14 Development Activity(1) Northeastern Oklahoma Total MCEP 7 Producing Wells (3 Pending) 10 Producing Wells (4 Pending) 12 Recompletions (1 Pending) 1 Water Supply Well (1 Pending) 3 Conversions to Injection 13 Recompletions (1…
  5. Q4 2014 RESULTS – Mid-Con Energy Partners Lp – slide 5
    2014 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:…
  6. Q4 2014 RESULTS – Mid-Con Energy Partners Lp – slide 6
    Proven Reserves by Core Area 2011-2014 Northeastern Oklahoma Southern Oklahoma Hugoton Permian Gulf Coast / Other 25,000 23,230 3% 20,000 32% 26% CAGR 13,934 15,000 17% Mboe 13,146 10,049 17% 10,000 5,000…
  7. Q4 2014 RESULTS – Mid-Con Energy Partners Lp – slide 7
    Strategic Objectives for 2015 Securing the future Reduced distribution to support balance sheet Restructured hedges to secure revenues and borrowing base Living within cash flow Reduced capital spending to reflect organic cash…
  8. Q4 2014 RESULTS – Mid-Con Energy Partners Lp – slide 8
    Financial and Operating Results Three Months Ended Variance Analysis (unaudited, in thousands, except per unit data) December 31, September 30, December 31, Quarter-over-quarter Year-over-year 2014 2014 2013 % % Oil (MBbl) 356 279 230…
  9. Q4 2014 RESULTS – Mid-Con Energy Partners Lp – slide 9
    Non-GAAP Summary(1) Three Months Ended Variance Analysis (unaudited, in thousands, except per unit data) December 31, September 30, December 31, Quarter-over-quarter Year-over-year 2014 2014 2013 % % Net income 82 17,002 9,335…
  10. Q4 2014 RESULTS – Mid-Con Energy Partners Lp – slide 10
    Operating Results per Boe Three Months Ended Variance Analysis December 31, September 30, December 31, Quarter-over-quarter Year-over-year Operating Results per Boe (/Boe) 2014 2014 2013 % % Oil sales 65.75 91.27 91.13 (25.52) (28.0)%…
  11. Q4 2014 RESULTS – Mid-Con Energy Partners Lp – slide 11
    Hedge Profile 3,500 Hedge Volumes (LHS) Hedge Prices (RHS) WTI Futures (RHS) 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 1Q15 2Q15 3Q15 4Q15 1Q16 2Q16…
  12. Q4 2014 RESULTS – Mid-Con Energy Partners Lp – slide 12
    Capitalization, Leverage & Liquidity(1) Capital Structure Low Leverage: 2.27x Debt to EBITDA(2) 300 4.5 4.0x Debt to EBITDA Covenant (RHS) 4.0 250 3.5 200 ( in millions) 3.0 47% 150 53% 2.5 100 2.0 50 1.5 0 1.0…
  13. Q4 2014 RESULTS – Mid-Con Energy Partners Lp – slide 13
    Investment Highlights The The Right Right Strategy Team The The Right Right Assets Structure NASDAQ: MCEP www.midconenergypartners.com 15
  14. Q4 2014 RESULTS – Mid-Con Energy Partners Lp – slide 14
    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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