Constellation Energy Partners LLC Second Quarter 2012 Earnings Presentation August 9, 2012
Updates Q212 operating performance: Average Daily Net Production (MMcfe per day) Average daily net production of 34.5 MMcfe 50.0 39.0 37.1 37.4 Includes average daily net oil production of 40.0 35.8 35.5 34.5 approximately 324 Bbl…
Q212 Financial Results Q212 vs. Q112 Q212 vs. Q211 ( in 000s unless noted) Q212 Q112 Q212 Q211 Production (MMcfe) 3,142 3,226 3,142 3,545 Oil & Gas Sales 16,709 17,158 16,709 68,080 Gain (Loss) from Mark-to-Market Activities…
Net Asset Value ( in millions) Quarter Ending: Q211 Q311 Q411 Q112 Q212 Value of Proved Reserves (1),(2) 286.6 242.8 229.8 189.2 170.0 +/- Adjustments for: Debt - 115.5 - 104.3 -98.4 -98.4 -88.4 Working Capital (3) 13.6 7.2 10.6…
Appendix
Portfolio Summary Portfolio Total reserves: 528 Bcfe Proved reserves: 232 Bcfe (227 Bcfe natural gas; 943 MBbl oil) Proved developed as a % of total proved reserves: 72% Proved reserve to production ratio: 18.0 years Probable…
2012 Forecast Forecast Component 2012 Forecast Total Capital Spending 15.0MM - 19.0MM Total Net Production 13.3 Bcfe - 14.1 Bcfe Production Mix: Mid-Con Oil 0.9 Bcfe (7% of Total) Total Natural Gas 12.8 Bcfe (93% of Total) Mid-Con…
Oil Hedge Positions(1) Fixed Price Swaps Bbl Hedged Weighted Average Sales Price (/Bbl) 2012 45,756 103.53 2013 87,427 102.14 2014 68,864 100.23 2015 55,431 99.77 (1) As of June 30, 2012 NOTE: The company accounts for…
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…
Reconciliation Items Reconciliation of Net Income (Loss) YTD to Adjusted EBITDA ( in 000s) 2012 Q412 Q312 Q212 Q112 Q211 Net income (loss) 875 -- -- (5,010) 5,885 2,467 Interest (income) expense, net 3,056 -- -- 1,437 1,619 4,076…
Constellation Energy Partners LLC CEPs 2012 Drilling Update July 2012 [Excerpts]
Continuing Focus on Oil Opportunities Since late 2010, our capital program has been focused on the oil potential we see in our existing asset base and our most capital efficient recompletion opportunities As a result of this focus, oil…
Path to Increased Oil Production Drilling curtailed Investment in the Central Kansas Uplift Focus on oil opportunities begins 15
Relative Advantage in Mid-Continent Significant footprint in the Cherokee Basin Approximately 725,000 net acres More than 2,250 net producing wells Among the largest natural gas producers in the basin Largest concession in Osage…
Footprint in the Cherokee Basin 17
2012 Drilling Program Drilling and recompletion activity is currently focused on oil potential in CEPs existing asset base in the Cherokee Basin, with plans primarily targeting production from the Bartlesville, Skinner, Red Fork,…
Oil Type Curve Type Well 1,000 Average Well Performance from 2011 Drilling Program IP 12.7 Bopd EUR 12 Mbo Oil, Bbls/Mo 100 10 0 12 24 36 48 60 Month 19 19
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