Skip to main content Q3 2011 EARNINGS CALL – Constellation Energy Group Inc. Investor Presentation | Shale Experts
Loading...
Pm

Q3 2011 EARNINGS CALL – Constellation Energy Group Inc.

Constellation Energy Group Inc. · Nov 4, 2011 · 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. Q3 2011 EARNINGS CALL – Constellation Energy Group Inc. – slide 1
    Constellation Energy Partners LLC Third Quarter 2011 Earnings Presentation November 4, 2011
  2. Q3 2011 EARNINGS CALL – Constellation Energy Group Inc. – slide 2
    Updates Q311 operating performance: Average Daily Net Production Average daily net production of 37.1 MMcfe (MMcfe per day) 50.0 40.8 39.9 39.0 38.0 37.1 37.8 Average daily net oil production of 40.0 approximately 278 Bbl for Q311…
  3. Q3 2011 EARNINGS CALL – Constellation Energy Group Inc. – slide 3
    2011 Capital Program Total capital now forecast to range between 12 million and 14 million* We now expect to complete 70 to 80 net wells and recompletions in 2011* Continuing focus on organic oil opportunities and capital efficient…
  4. Q3 2011 EARNINGS CALL – Constellation Energy Group Inc. – slide 4
    Q311 Financial Results Q311 vs. Q211 Q311 vs. Q310 ( in 000s unless noted) Q311 Q211 Q311 Q310 Production (MMcfe) 3,414 3,545 3,414 3,758 Oil & Gas Sales 25,624 68,080 25,624 26,643 Gain (Loss) from Mark-to-Market Activities 5,819…
  5. Q3 2011 EARNINGS CALL – Constellation Energy Group Inc. – slide 5
    2011 Forecast Q311 YTD Q311 2011 Forecast* Total Capital (000) 4,512 8,883 12,000 - 14,000 Total Wells(1) 28 67 70 80 Net Production (Bcfe) 3.4 10.4 13.4 14.2 (74% Hedged at Midpoint) Operating Cost (000)(2) 12,382 35,356…
  6. Q3 2011 EARNINGS CALL – Constellation Energy Group Inc. – slide 6
    Net Asset Value ( in millions) Quarter Ending: Q310 Q410 Q111 Q211 Q311 Value of Proved Reserves (1),(2) 235.6 247.5 308.0 286.6 242.8 +/- Adjustments for: Debt - 172.5 - 165.0 - 157.5 - 115.5 - 104.3 Working Capital (3) 6.7 2.2…
  7. Q3 2011 EARNINGS CALL – Constellation Energy Group Inc. – slide 7
    Themes for 2012 As we progress through this planning cycle, several themes are emerging: CEPs financial strength has steadily improved since 2009 so that we have a more manageable level of debt today As we seek to enhance the…
  8. Q3 2011 EARNINGS CALL – Constellation Energy Group Inc. – slide 8
    Appendix
  9. Q3 2011 EARNINGS CALL – Constellation Energy Group Inc. – slide 9
    Portfolio Summary Portfolio Estimated total reserves: 492 Bcfe (includes estimated proved reserves of 221 Bcfe) Mix: 98% natural gas Net producing wells: 2,783 Estimated net daily production: Approximately 39.5MMcfe Proved…
  10. Q3 2011 EARNINGS CALL – Constellation Energy Group Inc. – slide 10
    Natural Gas Hedge Positions(1) Fixed Price Swaps(2) MMBtu Hedged Weighted Average Sales Price (/MMBtu) 2011 2,400,000 8.42 2012 8,955,000 5.75 2013 8,212,500 5.75 2014 6,387,500 5.75 Basis Swaps MMBtu Hedged Weighted Average…
  11. Q3 2011 EARNINGS CALL – Constellation Energy Group Inc. – slide 11
    Oil Hedge Positions(1) Fixed Price Swaps Bbl Hedged Weighted Average Sales Price (/Bbl) 2011 15,278 110.10 2012 51,846 108.00 2013 41,958 104.32 2014 35,295 102.25 2015 30,843 101.10 (1) As of September 30, 2011 NOTE: The…
  12. Q3 2011 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. Q3 2011 EARNINGS CALL – Constellation Energy Group Inc. – slide 13
    Reconciliation Items Reconciliation of Net Income (Loss) YTD YTD to Adjusted EBITDA ( in 000s) 2011 Q411 Q311 Q211 Q111 Q310 Q310 Net income (loss) 5,648 -- 7,453 3,347 (5,152) (270,157) (267,123) Interest (income) expense, net…

From the store

Browse maps, data & reports in the Shale Experts store