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Q1 2013 EARNINGS CALL – Constellation Energy Group Inc.

Constellation Energy Group Inc. · May 17, 2013 · 11 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 2013 EARNINGS CALL – Constellation Energy Group Inc. – slide 1
    Constellation Energy Partners LLC First Quarter 2013 Earnings Presentation May 17, 2013
  2. Q1 2013 EARNINGS CALL – Constellation Energy Group Inc. – slide 2
    Updates Q113 operating highlights: (1) (2) 50% of sales revenue was from oil Average daily net oil production of 531 Bbl (up from 396 Bbl per day in Q412) Total operating cost of 23.98 per BOE (4.00 per Mcfe) (3),(4) Adjusted…
  3. Q1 2013 EARNINGS CALL – Constellation Energy Group Inc. – slide 3
    Q113 Financial Results Q113 vs. Q412 Q113 vs. Q112 ( in 000s unless noted) Q113 Q412* Q113 Q112* Production (MBOE) 335 339 335 354 Oil & Gas Sales 14,385 13,690 14,385 14,012 Gain (Loss) from Mark-to-Market Activities (9,285)…
  4. Q1 2013 EARNINGS CALL – Constellation Energy Group Inc. – slide 4
    Net Asset Value ( in millions) Quarter Ending: Q113 Value of Proved Reserves (1),(2) 129.5 +/- Adjustments for: Debt -34.0 Working Capital (3) 7.9 ARO -7.8 Value of Hedges in Place (2) 17.6 = Net Asset Value (NAV) --…
  5. Q1 2013 EARNINGS CALL – Constellation Energy Group Inc. – slide 5
    Appendix
  6. Q1 2013 EARNINGS CALL – Constellation Energy Group Inc. – slide 6
    Portfolio Summary Portfolio 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 Burgess,…
  7. Q1 2013 EARNINGS CALL – Constellation Energy Group Inc. – slide 7
    Natural Gas Hedge Positions(1) Fixed Price Swaps(2) MMBtu Hedged Weighted Average Sales Price (/MMBtu) BOY 2013(3) 5,145,686 6.17 2014 6,387,500 5.75 2015(4) 3,830,119 4.27 (4) 2016 1,686,330 4.31 Basis Swaps MMBtu Hedged…
  8. Q1 2013 EARNINGS CALL – Constellation Energy Group Inc. – slide 8
    Oil Hedge Positions(1) Fixed Price Swaps Bbl Hedged Weighted Average Sales Price (/Bbl) BOY 2013 106,757 96.31 2014 113,127 94.02 2015 87,680 93.53 2016 66,117 85.50 (1) As of March 31, 2013 NOTE: The company accounts for…
  9. Q1 2013 EARNINGS CALL – Constellation Energy Group Inc. – slide 9
    2013 Forecast Forecast Component 2013 Forecast Total Capital Spending 19.0MM - 21.0MM Total Net Production 7.6 Bcfe 8.6 Bcfe Production Mix Mcfe, Oil / Natural Gas 15% / 85% Natural Gas 6.5 7.3 Bcfe Oil 190,000 210,000 Bbls Sales…
  10. Q1 2013 EARNINGS CALL – Constellation Energy Group Inc. – slide 10
    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…
  11. Q1 2013 EARNINGS CALL – Constellation Energy Group Inc. – slide 11
    Reconciliation Items Reconciliation of Net Income (Loss) YTD to Adjusted EBITDA ( in 000s) 2013 Q413 Q313 Q213 Q113 Q412* Q112* Net income (loss) (10,646) -- -- -- (10,646) (2,203) 6,686 Interest (income) expense, net 1,352 -- -- --…

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