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Q2 2013 EARNINGS CALL – Constellation Energy Group Inc.

Constellation Energy Group Inc. · Aug 15, 2013 · 13 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 2013 EARNINGS CALL – Constellation Energy Group Inc. – slide 1
    Constellation Energy Partners LLC Second Quarter 2013 Earnings Presentation August 15, 2013
  2. Q2 2013 EARNINGS CALL – Constellation Energy Group Inc. – slide 2
    Updates Operating highlights: (1) (2) 47% of YTD13 sales revenue from oil Average daily net oil production of 500 Bbl YTD13 YTD13 operating cost of 24.71 per BOE (4.12 per Mcfe) (3),(4) Adjusted EBITDA of 4.9 million in Q213;…
  3. Q2 2013 EARNINGS CALL – Constellation Energy Group Inc. – slide 3
    Q213 Financial Results Q213 vs. Q113 Q213 vs. Q212 ( in 000s unless noted) Q213 Q113* Q213 Q212* Production (MBOE) 308 335 308 339 Oil & Gas Sales 13,042 14,385 13,042 14,096 Gain (Loss) from Mark-to-Market Activities 2,346…
  4. Q2 2013 EARNINGS CALL – Constellation Energy Group Inc. – slide 4
    Sanchez Transaction Purchase price of 30.4 million Acquired assets include: Interests in 67 producing wells in Texas and Louisiana (75% operated) Jun-13 production of 1,167 Boe per day, of which approximately 25% is oil and NGLs More…
  5. Q2 2013 EARNINGS CALL – Constellation Energy Group Inc. – slide 5
    Current Ownership PostRock Public Unit Sanchez Energy Energy Corp. Holders & Insiders Partners I, LP (NASDAQ: PSTR) Class A Units (70% of Class A) Class A Units (30% of Class A) Class B Class B (Common) (Common) Units…
  6. Q2 2013 EARNINGS CALL – Constellation Energy Group Inc. – slide 6
    Net Asset Value ( in millions) Q213 Quarter Ending: Q113 Proforma* Value of Proved Reserves (1),(2) 129.5 175.4 +/- Adjustments for: Debt -34.0 -50.7 Working Capital (3) 7.9 1.6 ARO -7.8 -9.1 Value of Hedges in Place (2)…
  7. Q2 2013 EARNINGS CALL – Constellation Energy Group Inc. – slide 7
    2013 Forecast* Forecast Component 2013 Forecast Total Capital Spending 19.0MM - 21.0MM Net Production Total 1,400 1,567 MBOE Natural Gas 7.1 7.9 Bcfe Oil 220,000 250,000 Bbls (1) NYMEX Hedges Natural Gas 7.8 Bcfe at 5.85 per Mcfe…
  8. Q2 2013 EARNINGS CALL – Constellation Energy Group Inc. – slide 8
    Appendix
  9. Q2 2013 EARNINGS CALL – Constellation Energy Group Inc. – slide 9
    Portfolio Summary Legacy Assets Existing Reserves New Activity Central Kansas Uplift Total: 402 Bcfe Drilling focus: Cherokee Basin oil opportunities in the Pennsylvanian aged Proved reserves, total: 136 Bcfe horizon with the…
  10. Q2 2013 EARNINGS CALL – Constellation Energy Group Inc. – slide 10
    Natural Gas Hedge Positions(1) Fixed Price Swaps(2) MMBtu Hedged Weighted Average Sales Price (/MMBtu) BOY 2013(3) 3,412,818 6.18 2014 6,387,500 5.75 2015 3,830,119 4.27 2016 1,686,330 4.31 Basis Swaps MMBtu Hedged Weighted…
  11. Q2 2013 EARNINGS CALL – Constellation Energy Group Inc. – slide 11
    Oil Hedge Positions(1) Fixed Price Swaps Bbl Hedged Weighted Average Sales Price (/Bbl) BOY 2013 90,569 97.88 2014 160,029 94.15 2015 87,680 93.53 2016 66,117 85.50 (1) As of June 30, 2013; includes hedges executed in Jul-13…
  12. Q2 2013 EARNINGS CALL – Constellation Energy Group Inc. – slide 12
    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…
  13. Q2 2013 EARNINGS CALL – Constellation Energy Group Inc. – slide 13
    Reconciliation Items Reconciliation of Net Income (Loss) YTD to Adjusted EBITDA ( in 000s) 2013 Q413 Q313 Q213 Q113 Q212* Net income (loss) (9,534) -- -- 1,112 (10,646) (3,679) Interest (income) expense, net 2,216 -- -- 864 1,352…

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