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Q3 2012 EARNINGS CALL – Constellation Energy Group Inc.

Constellation Energy Group Inc. · Nov 9, 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. Q3 2012 EARNINGS CALL – Constellation Energy Group Inc. – slide 1
    Constellation Energy Partners LLC Third Quarter 2012 Earnings Presentation November 9, 2012
  2. Q3 2012 EARNINGS CALL – Constellation Energy Group Inc. – slide 2
    Updates Q312 operating performance: Average Daily Net Production Average daily net production of 34.0 MMcfe (MMcfe per day) 50.0 Includes average daily net oil production of 40.0 37.1 35.8 35.5 34.5 34.0 37.4 approximately 272 Bbl…
  3. Q3 2012 EARNINGS CALL – Constellation Energy Group Inc. – slide 3
    Black Warrior Asset Offering CEPs strategic focus remains on the oil opportunities available in our Mid-Continent asset base The Black Warrior Basin CEP announced in October 2012 that it has engaged Lantana Oil & Gas Partners, Inc.…
  4. Q3 2012 EARNINGS CALL – Constellation Energy Group Inc. – slide 4
    Q312 Financial Results Q312 vs. Q212 Q312 vs. Q311 ( in 000s unless noted) Q312 Q212 Q312 Q311 Production (MMcfe) 3,126 3,142 3,126 3,414 Oil & Gas Sales 16,653 16,709 16,653 25,624 Gain (Loss) from Mark-to-Market Activities…
  5. Q3 2012 EARNINGS CALL – Constellation Energy Group Inc. – slide 5
    Net Asset Value ( in millions) Quarter Ending: Q411 Q112 Q212 Q312 Value of Proved Reserves (1),(2) 229.8 189.2 170.0 220.8 +/- Adjustments for: Debt -98.4 -98.4 -88.4 -88.4 Working Capital (3) 10.6 11.4 3.4 5.0 ARO -14.0 -14.2…
  6. Q3 2012 EARNINGS CALL – Constellation Energy Group Inc. – slide 6
    Appendix
  7. Q3 2012 EARNINGS CALL – Constellation Energy Group Inc. – slide 7
    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…
  8. Q3 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 2,740,584 5.22 2013 9,234,295 5.50 2014 8,022,030 5.38 Basis Swaps MMBtu Hedged Weighted Average Sales Price (/MMBtu)…
  9. Q3 2012 EARNINGS CALL – Constellation Energy Group Inc. – slide 9
    Oil Hedge Positions(1) Fixed Price Swaps Bbl Hedged Weighted Average Sales Price (/Bbl) 2012 25,605 103.88 2013 87,427 102.14 2014 68,864 100.23 2015 55,431 99.77 (1) As of September 30, 2012 NOTE: The company accounts for…
  10. Q3 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. Q3 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 Q311 Net income (loss) (10,288) -- (11,163) (5,010) 5,885 7,144 Interest (income) expense, net 4,590 -- 1,534 1,437…

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