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Q2 2013 EARNINGS CALL – Mid-Con Energy Partners Lp

Mid-Con Energy Partners Lp · Aug 7, 2013 · 12 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 – Mid-Con Energy Partners Lp – slide 1
    Mid-Con Energy Partners, LP 2nd Quarter 2013 Earnings Call August 7, 2013 Nasdaq : MCEP www.midconenergypartners.com 1
  2. Q2 2013 EARNINGS CALL – Mid-Con Energy Partners Lp – slide 2
    Second Quarter Highlights Production Growth Adjusted EBITDA Cash Distributions Average Boe/d (Net) Adjusted EBITDA (MM) Quarterly Distribution Per Unit 2,593 16.1 0.515 1,747 0.475 10.7 2Q12 2Q12 2Q13 2Q12 2Q13 2Q13 o Net…
  3. Q2 2013 EARNINGS CALL – Mid-Con Energy Partners Lp – slide 3
    Summary Results Three Months Ended June 30, March 31, 2013 2012 2013 (in thousands, except per unit data) Production: Oil (MBbl) 230 154 220 Natural gas (MMcf) 36 28 37 Total (MBoe) (1) 236 159 226 Average Averagenet…
  4. Q2 2013 EARNINGS CALL – Mid-Con Energy Partners Lp – slide 4
    Coverage Ratio Calculation Three Months Ended June 30, 2013 ( in thousands, except per unit data) Adjusted EBITDA (1) 16,054 Less: Cash interest expense 779 Estimated maintenance capital expenditures 2,499 Distributable Cash…
  5. Q2 2013 EARNINGS CALL – Mid-Con Energy Partners Lp – slide 5
    Distribution Growth Distributions Per Unit Since IPO 1.30x 3.50 1.26x Quarterly Distribution Cumulative Distributions Per Unit Cash Distributions Per Unit 1.25x 3.00 1.21x 1.21x 3.007 Coverage Ratio 1.17x 1.20x 2.50…
  6. Q2 2013 EARNINGS CALL – Mid-Con Energy Partners Lp – slide 6
    Capital Expenditures 2Q 2013 Capital Expenditures o 6.4 Million In Total CapEx Maintenance: 2.5 million Growth: 3.9 million Maintenance CapEx o Spud 7 Wells During Quarter 2.5 Million Northeastern Oklahoma 6.4 1 Producing…
  7. Q2 2013 EARNINGS CALL – Mid-Con Energy Partners Lp – slide 7
    Operations Update Drilling Activity During 1H 2013 1Q 2013 2Q 2013 1H 2013 Area Property Producer Injector Producer Injector Producer Injector HUG Clawson Ranch 2 - - - 2 - HUG War Party II 1 - - - 1 - Subtotal - HUG 3 - - - 3…
  8. Q2 2013 EARNINGS CALL – Mid-Con Energy Partners Lp – slide 8
    Debt & Liquidity Update 2.25x 140.0 Borrowings Available Total Debt Outstanding 2.00x 120.0 19.0 52.0 50.0 Total Leverage Ratio (1) 1.88x 1.75x 100.0 1.72x ( in millions) 42.0 40.0 1.50x 80.0 1.46x 1.35x 1.37x…
  9. Q2 2013 EARNINGS CALL – Mid-Con Energy Partners Lp – slide 9
    Hedge Profile o As of August 7, 2013, Mid-Con Energy has commodity derivatives covering approximately 79%, 70% and 5% of estimated average daily oil production from proved reserves for calendar years 2013, 2014 and 2015,…
  10. Q2 2013 EARNINGS CALL – Mid-Con Energy Partners Lp – slide 10
    Contact Information Headquarters Investor Relations Contact 2501 N. Harwood Jeffrey Olmstead Suite 2410 President and CFO Dallas, TX 75201 jolmsteadmidcon-energy.com 972.479.5980 972.479.5980 Matthew Lewis Tulsa Operations…
  11. Q2 2013 EARNINGS CALL – Mid-Con Energy Partners Lp – slide 11
    Appendix: Non-GAAP Measures o This presentation includes Adjusted EBITDA and Distributable Cash Flow, each of which are non- generally accepted accounting principles (Non-GAAP) measures, and should not be considered an alternative to…
  12. Q2 2013 EARNINGS CALL – Mid-Con Energy Partners Lp – slide 12
    Appendix: Hedge Detail Months Settlement Instrument Total Bbls. NYMEX Outstanding Price Floor Ceiling Type Per Month Index Jul-Dec 2013 105.80 Swap 6,000 WTI Jul-Dec 2013 100.00 111.00 Collar 6,000 WTI Jul-Dec 2013 96.00 Swap 8,000…

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