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Q2 2014 EARNINGS CALL – Mid-Con Energy Partners Lp

Mid-Con Energy Partners Lp · Aug 5, 2014 · 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. Q2 2014 EARNINGS CALL – Mid-Con Energy Partners Lp – slide 1
    Mid-Con Energy Partners, LP 2nd Quarter 2014 Earnings Call August 5, 2014 Financial information as of August 4, 2014 NASDAQ: MCEP www.midconenergypartners.com 1
  2. Q2 2014 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. Q2 2014 EARNINGS CALL – Mid-Con Energy Partners Lp – slide 3
    Earnings Summary Three Months Ended Variance Analysis June 30, March 31, June 30, Quarter-over-quarter Year-over-year Production 2014 2014 2013 % % Oil (MBbl) 245 232 230 13 5.6% 15 6.5% Natural gas (MMcf) 19 21 36 (2) -9.5% (17)…
  4. Q2 2014 EARNINGS CALL – Mid-Con Energy Partners Lp – slide 4
    Highlights 2Q14 average net Production production of Gulf Coast Oilton Acquisition Growth 2,725 Boe/d Acquisition increased approximately 5% On July 24, 2014, announced above 2Q 2013 Signed a purchase acquisition of 410 Boe/d…
  5. Q2 2014 EARNINGS CALL – Mid-Con Energy Partners Lp – slide 5
    Year-to-Date Acquisitions(1) Hugoton S. Oklahoma Oilton Liberty South Total/Average Accounced Month / Year: March / 2014 May / 2014 July / 2014 August / 2014 n/a Area Hugoton / S OK S OK S OK / NE OK Gulf Coast n/a Announced…
  6. Q2 2014 EARNINGS CALL – Mid-Con Energy Partners Lp – slide 6
    Oilton Field As announced on July 24, 2014, MCEP agreed to purchase Oilton Field (Oilton) from Mid-Con Energy III, LLC for 56.5 million The acquisition was funded with (i) Creek Co., OK approximately 2.2 million MCEP units valued…
  7. Q2 2014 EARNINGS CALL – Mid-Con Energy Partners Lp – slide 7
    Liberty South Unit In August 2014, the Partnership signed an Liberty Co., TX agreement to purchase the Liberty South Producing Well Unit (Liberty) for 19.4 million Injection Well Water Supply Well The acquisition will be 100%…
  8. Q2 2014 EARNINGS CALL – Mid-Con Energy Partners Lp – slide 8
    2Q14 Capital Expenditures Growth & Maintenance CapEx 8.9 Million In Total CapEx Maintenance: 1.7 Million Maintenance CapEx 1.7 Million Growth: 7.2 Million Spud 12 Producing Wells and 2 Injection Wells During Quarter 8.9 7 of…
  9. Q2 2014 EARNINGS CALL – Mid-Con Energy Partners Lp – slide 9
    2Q14 Development Activity(1) Northeastern Oklahoma 9 Producing Wells (6 Pending) 1 Injection Well 2 Conversions To Injection Hugoton 1 Injection Well (1 Pending) 2 Conversions To Injection 2 Recompletions Southern Oklahoma…
  10. Q2 2014 EARNINGS CALL – Mid-Con Energy Partners Lp – slide 10
    Income Statement Summary Three Months Ended Variance Analysis (unaudited, in thousands, except per unit data) June 30, March 31, June 30, Quarter-over-quarter Year-over-year 2014 2014 2013 % % Oil sales 24,216 21,638 20,926 2,578…
  11. Q2 2014 EARNINGS CALL – Mid-Con Energy Partners Lp – slide 11
    Non-GAAP Measures Three Months Ended Variance Analysis June 30, March 31, June 30, Quarter-over-quarter Year-over-year 2014 2014 2013 % % Net Income 3,847 1,561 10,538 2,286 146.4% (6,691) -63.5% Interest expense, net 1,052 805 809…
  12. Q2 2014 EARNINGS CALL – Mid-Con Energy Partners Lp – slide 12
    Hedge Profile 3,000 96 Volumes (LHS) 94 2,500 Production Hedged (Bbl/d) Average Price Hedged (RHS) Average Price ( / Bbl) 92 2,000 90 1,500 88 86 1,000 84 500 82 - 80 3Q14 4Q14 1Q15 2Q15 3Q15 4Q15 1Q16 2Q16…
  13. Q2 2014 EARNINGS CALL – Mid-Con Energy Partners Lp – slide 13
    Capitalization, Leverage & Liquidity(1) Conservative Capital Structure Low Leverage: 2.7x LTM Debt to EBITDA(2) 180 5.0 160 4.5 140 4.0 23% 3.5 ( in millions) 120 3.0 100 2.5 80 2.0 60 1.5 77% 40 1.0 20 0.5 - 0.0…
  14. Q2 2014 EARNINGS CALL – 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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