Skip to main content Q1 2014 EARNINGS CALL – Mid-Con Energy Partners Lp Investor Presentation | Shale Experts
Loading...
Pm

Q1 2014 EARNINGS CALL – Mid-Con Energy Partners Lp

Mid-Con Energy Partners Lp · May 6, 2014 · 15 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 2014 EARNINGS CALL – Mid-Con Energy Partners Lp – slide 1
    Mid-Con Energy Partners, LP 1st Quarter 2014 Earnings Call May 6, 2014 Financial information as of May 5, 2014 NASDAQ: MCEP www.midconenergypartners.com 1
  2. Q1 2014 EARNINGS CALL – Mid-Con Energy Partners Lp – slide 2
    Highlights 1Q 2014 average Completed First Production net production of May 2014 Dropdown Growth 2,622 Boe/d Acquisition increased approximately 4% o In 1Q 2014, acquired 349 above 1Q 2013 o Signed a purchase Boe/d average net…
  3. Q1 2014 EARNINGS CALL – Mid-Con Energy Partners Lp – slide 3
    Earnings Summary Three Months Ended March 31, December 31, March 31, 2014 2013 2013 (in thousands, except per unit data) Production: Oil (MBbl) 232 230 220 Natural gas (MMcf) 21 23 37 Total (MBoe) (1) 236 234 226 Average…
  4. Q1 2014 EARNINGS CALL – Mid-Con Energy Partners Lp – slide 4
    Coverage Ratio Calculation Three Months Ended March 31, 2014 ( in thousands, except per unit data) Adjusted EBITDA (1) 12,722 Less: Cash interest expense 866 Estimated maintenance capital expenditures 1,757 Distributable Cash…
  5. Q1 2014 EARNINGS CALL – Mid-Con Energy Partners Lp – slide 5
    Distribution History o Approximate 8% Growth in Quarterly Rate Since IPO Since completing its initial public offering in December 2011, Mid-Con Energy will have paid 4.552 in cumulative cash distributions per unit (inclusive of May…
  6. Q1 2014 EARNINGS CALL – Mid-Con Energy Partners Lp – slide 6
    1Q 2014 Capital Expenditures Growth & Maintenance CapEx o 7.0 Million In Total CapEx Maintenance: 1.8 million Maintenance CapEx Growth: 5.2 million 1.8 Million o 31 Wells Drilled, Completed or Converted During 1Q 2014 7.0 12…
  7. Q1 2014 EARNINGS CALL – Mid-Con Energy Partners Lp – slide 7
    1Q 2014 Development Activity(1) Northeastern Oklahoma 4 Producers 6 Injectors 1 WSW 4 Conversions *11 Pending Hugoton 4 Producers 2 Injectors 1 WSW 5 Conversions *5 Pending Southern Oklahoma 4 Producers *3 Pending…
  8. Q1 2014 EARNINGS CALL – Mid-Con Energy Partners Lp – slide 8
    Borrowing Base and Liquidity o Reported Liquidity of 27.4 Million 0.4 million cash and cash equivalents 27.0 million borrowings available under revolving credit facility o 170.0 Million Borrowing Base Increased Borrowing Base from…
  9. Q1 2014 EARNINGS CALL – Mid-Con Energy Partners Lp – slide 9
    Hedge Profile o Mid-Con Energy has commodity derivatives covering approximately 86% and 19% of estimated oil production in April-December 2014 and 2015, respectively, based on the mid-point of 2014 oil production guidance(1) Apr-Dec…
  10. Q1 2014 EARNINGS CALL – Mid-Con Energy Partners Lp – slide 10
    Executive Succession Plan o Leadership changes effect August 1, 2014: Current Title New Title Craig George Executive Chairman of the Board Director Randy Olmstead Chief Executive Officer Executive Chairman of the Board Jeff…
  11. Q1 2014 EARNINGS CALL – Mid-Con Energy Partners Lp – slide 11
    Contact Information Headquarters Investor Relations Contact 2501 N. Harwood Jeffrey Olmstead Suite 2410 President and CFO Dallas, TX 75201 jolmsteadmidcon-energy.com 972.479.5980 972.479.5980 Krista McKinney Tulsa Operations…
  12. Q1 2014 EARNINGS CALL – Mid-Con Energy Partners Lp – slide 12
    Appendix: Non-GAAP Measures o 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…
  13. Q1 2014 EARNINGS CALL – Mid-Con Energy Partners Lp – slide 13
    Appendix: Sequential Variance Table Sequential Variance Table 1Q 2014 4Q 2013 Variance % Total Production (MBoe) 236 234 2 0.9% A. Operating Results per Boe: 1Q 2014 4Q 2013 Variance % Oil & Natural Gas Sales 92.40 91.74 0.66 0.7%…
  14. Q1 2014 EARNINGS CALL – Mid-Con Energy Partners Lp – slide 14
    Appendix: Year-over-Year Variance Table Year-over-Year Variance Table 1Q 2014 1Q 2013 Variance % Total Production (MBoe) 236 226 10 4.2% A. Operating Results per Boe: 1Q 2014 1Q 2013 Variance % Oil & Natural Gas Sales 92.40 89.27…
  15. Q1 2014 EARNINGS CALL – Mid-Con Energy Partners Lp – slide 15
    Appendix: Hedge Detail Months Settlement Instrument Total Bbls. NYMEX Outstanding Price Floor Ceiling Type Per Month Index Apr-Dec 2014 96.10 Swap 5,000 WTI Apr-Dec 2014 100.00 Swap 5,000 WTI Apr-Dec 2014 97.40 Swap 5,000 WTI…

From the store

Browse maps, data & reports in the Shale Experts store