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Q1 2012 EARNINGS CALL – Constellation Energy Group Inc.

Constellation Energy Group Inc. · May 10, 2012 · 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 2012 EARNINGS CALL – Constellation Energy Group Inc. – slide 1
    Constellation Energy Partners LLC First Quarter 2012 Earnings Presentation May 10, 2012
  2. Q1 2012 EARNINGS CALL – Constellation Energy Group Inc. – slide 2
    Updates Q112 operating performance: Average Daily Net Production (MMcfe per day) Average daily net production of 35.5 MMcfe 50.0 38.0 39.0 37.1 37.4 Includes average daily net oil production of 40.0 35.8 35.5 approximately 324 Bbl…
  3. Q1 2012 EARNINGS CALL – Constellation Energy Group Inc. – slide 3
    Q112 Financial Results Q112 vs. Q411 Q112 vs. Q111 ( in 000s unless noted) Q112 Q411 Q112 Q111 Production (MMcfe) 3,226 3,296 3,226 3,424 Oil & Gas Sales 17,158 25,022 17,158 25,913 Gain (Loss) from Mark-to-Market Activities 6,602…
  4. Q1 2012 EARNINGS CALL – Constellation Energy Group Inc. – slide 4
    Net Asset Value ( in millions) Quarter Ending: Q111 Q211 Q311 Q411 Q112 Value of Proved Reserves (1),(2) 308.0 286.6 242.8 229.8 189.2 +/- Adjustments for: Debt - 157.5 - 115.5 - 104.3 -98.4 -98.4 Working Capital (3) 4.0 13.6 7.2…
  5. Q1 2012 EARNINGS CALL – Constellation Energy Group Inc. – slide 5
    Appendix
  6. Q1 2012 EARNINGS CALL – Constellation Energy Group Inc. – slide 6
    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…
  7. Q1 2012 EARNINGS CALL – Constellation Energy Group Inc. – slide 7
    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…
  8. Q1 2012 EARNINGS CALL – Constellation Energy Group Inc. – slide 8
    Natural Gas Hedge Positions(1) Fixed Price Swaps(2) MMBtu Hedged Weighted Average Sales Price (/MMBtu) 2012 8,015,589 5.27 2013 9,154,295 5.52 2014 8,022,030 5.38 Basis Swaps MMBtu Hedged Weighted Average Sales Price (/MMBtu)…
  9. Q1 2012 EARNINGS CALL – Constellation Energy Group Inc. – slide 9
    Oil Hedge Positions(1) Fixed Price Swaps Bbl Hedged Weighted Average Sales Price (/Bbl) 2012 67,147 103.38 2013 87,427 102.14 2014 68,864 100.23 2015 55,431 99.77 (1) As of March 31, 2012 NOTE: The company accounts for…
  10. Q1 2012 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 2012 EARNINGS CALL – Constellation Energy Group Inc. – slide 11
    Reconciliation Items Reconciliation of Net Income (Loss) YTD to Adjusted EBITDA ( in 000s) 2012 Q412 Q312 Q212 Q112 Q411 Q111 Net income (loss) 5,885 -- -- -- 5,885 15,127 (5,152) Interest (income) expense, net 1,619 -- -- -- 1,619…

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