Mid-Con Energy Partners, LP NAPTP Investor Presentation May 24, 2012
Mid-Con Energy Partners, LP Founded on Secondary Oil Recovery Techniques Private entity established in 2004, with principal investment from Yorktown Energy Partners (Yorktown), focused on waterflood development in the mid-continent…
First Quarter 2012 Highlights Increased Production 85% YoY 1Q12 production average of 1,703 Boe per day, up from 922 Boe per day in 1Q11 1Q12 production increased 15% compared to 4Q11 average of 1,481 Boe per day 1 Increased…
Waterflood Overview Waterflooding, a form of secondary recovery, repressurizes a reservoir by injecting water to push oil to producing wellbores Water injection replaces the loss of reservoir pressure Within the mid-continent region,…
Waterflood Strategy: Successful Response and Growth Primary Production Secondary Production (MCEP) Battle Springs Unit Flood Performance Love Co., OK 3 12/1988: Peak primary 750 bopd 12/2011: Current rate 969 bopd 6 1 5…
Operating Strategy Exploit Potential of Increase production and recovery from existing reserve portfolio (99% Oil) Existing Property Base Average daily production in 1Q12 increased over 85% YoY Mid-Con Energy currently operates 99% of…
Acquisition Strategy Four Sources of Potential Acquisitions Yorktown Mid-Con Mid-Con Mid-Con GP & Partners & Energy III Energy IV Management (Private Affiliate) (Private Affiliate) Affiliates Waterflood Broader geography,…
Asset Overview Mid-Con Energy Partners, LP Harker Ranch Core Areas of Operation CO KS Hugoton Basin War Party I & II Skiatook Cleveland Tulsa Office Cushing Proved Reserves at December 31, 2011 Northeastern Oklahoma…
Southern Oklahoma Property Highlights Ardmore West Long-lived assets that are in the early stages of waterflooding - Production is expected to increase SE Hewitt during the next few years Area was producing 220 Boe/d gross in…
Hugoton Basin Property Highlights Includes 3 units Cheyenne War Party I (Texas Co., OK) War Party II (Texas Co., OK) Harker Ranch (Cheyenne Co., CO) War Party I & II were acquired in June 2011 and workovers / reactivations were…
Borrowing Base and Liquidity Current borrowing base of Revolving Credit Facility ( in millions) 100.0 million, increased from 100.0 75.0 million as a result of April 2012 redetermination 80.0 Borrowing availability of 58.0 58.0…
Hedging Strategy Mid-Con Energy intends to hedge a significant portion of its production to minimize the impact of commodity price volatility on available cash Protect coverage and distributions over time through a prudent use of…
Current Yield 12.0% 11.5% 10.2% 11.0% 11.1% 10.0% 10.6% Average Yield: 9.8% 9.6% 8.0% 8.4% 8.1% 7.9% 6.0% 5.8% 4.0% 2.0% BBEP EVEP LGCY LINE LRE MCEP MEMP PSE QRE VNR *All unit prices based on May 17, 2012…
Investment Highlights The Right Assets Long life, low decline Relatively low risk waterflood projects Significant up-front capex already spent Growth from existing asset base 99% oil high margin cash flow, positive long-term oil…
Investor Contact Information Headquarters: Tulsa Operations: 2501 N. Harwood Street, Suite 2410 2431 E. 61st Street, Suite 850 Dallas, TX 75201 Tulsa, Oklahoma 74136 (972) 479-5980 (918) 743-7575 Investor Relations Contact: Jeffrey…
1Q12 Earnings Summary Three Months Ended March 31, December 31, 2012 2011 2011 ( in thousands, except per unit data) Production: Oil (MBbl) 150 76 130 Natural gas (MMcf) 31 44 38 Total (MBoe) (1) 155 83 136 Average net daily…
Non-GAAP Measures 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 net income,…
2012 Outlook On March 7, 2012, management reaffirmed its fiscal 2012 outlook set forth in the Final Prospectus filed on December 16, 2011. The following table reflects certain estimates and assumptions per our Final Prospectus: (in…
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