Mid-Con Energy Partners, LP 4th Quarter 2013 Earnings Call March 5, 2014 Financial information as of March 4, 2014 NASDAQ: MCEP www.midconenergypartners.com 1
2013 Highlights o 2013 average production of 2,542 Boe/d increased approximately 33% Production above 2012 average production of 1,907 Boe/d Growth o 4Q 2013 average production of 2,543 Boe/d increased approximately 12% above 4Q 2012…
Earnings Summary Three Months Ended Year Ended December 31, December 31, 2013 2012 2013 2012 (in thousands, except per unit data) Production: Oil (MBbl) 230 203 907 678 Natural gas (MMcf) 23 31 128 122 Total (MBoe) (1) 234 208 928…
Coverage Ratio Calculation 2013 Coverage Ratio Calculation Three Months Ended Year Ended March 31, June 30, September 30, December 31, December 31, 2013 2013 2013 2013 2013 Adjusted EBITDA (1) 14,591 16,054 14,935 14,393 59,973…
Distribution History o Approximate 8% Growth in Quarterly Rate Since IPO Since completing its initial public offering in December 2011, Mid-Con Energy has paid 4.037 in cumulative cash distributions per unit o MCEP provided an…
Borrowing Base and Liquidity Revolving Credit Facility o Liquidity of 39.4 Million ( in millions) 1.4 million cash and cash 160.0 equivalents 38.0 million borrowings available 140.0 38.0 under revolving credit facility Borrowings…
Hedge Profile o Mid-Con Energy has commodity derivatives covering approximately 82% and 19% of estimated oil production in 2014 and 2015, respectively, based on the mid-point of 2014 oil production guidance 2014 2015 Oil Derivative…
4Q 2013 Capital Expenditures Growth & Maintenance CapEx o 3.8 Million In Total CapEx Maintenance: 1.5 million Growth: 2.3 million Maintenance CapEx 1.5 Million o Four New Wells Drilled During 4Q 3 Producing wells 3.8 1 Water…
2013 Capital Expenditures Growth & Maintenance CapEx o 22.3 Million In Total CapEx Maintenance: 8.1 million Maintenance CapEx 8.1 Million Growth: 14.2 million o 31 New Wells Drilled During 2013 22 Producing wells 22.3 8…
2013 Development Activity Northeastern Oklahoma Producer Injector WSW Conv. Total New Wells 6 3 1 5 Comments: 2 producing wells and 1 water supply well waiting on completion as of December 31, 2013 Hugoton Producer Injector WSW…
Year End Proved Reserves By Core Area By Reserve Category 67% 45% PDP S OK 76% 13.9 Proved MMBOE 31% Developed NE OK 24% PUD 24% 9% Hugoton PDNP (1) Based on total proved oil reserves reflected in December 31, 2013…
Year End Proved Reserve Bridge Purchases Revisions for Extensions, of Minerals Previous discoveries Production in Place Estimates and other 401 76 (928) 15,000 1,239 12,000 13,146 13,934 9,000 (MBoe) 6,000 3,000…
2014 Growth Plan o Mid-Con Energy remains focused on return to unitholders Cultivate maturing legacy assets Make accretive acquisitions from affiliates and third parties Target 4% distribution growth in 2014 while maintaining healthy…
2014 Capital Budget Total CapEx By Core Area Growth & Maintenance CapEx ( in millions) 16.0 12.0 Maintenance CapEx 12.0 9.0 Million 11.0 8.0 4.0 7.0 30.0 - Million Hugoton Southern Northeastern Oklahoma Oklahoma New…
1Q 2014 Drop-Down o Mid-Con Energy Partners, LP acquired mature, oil-weighted properties from Mid-Con Energy III, LLC for 41.0 million(1) Closing date: February 28, 2014 / Effective date: January 1, 2014 Funded with (i) 7.0 million…
2014 Guidance ( in thousands, except per Boe and per unit metrics) 2014 Total Production: Oil (MBbl) 1,004 - 1,077 Natural Gas (MMcf) 110 - 110 Total (MBoe) (1) 1,022 - 1,095 Net Production Per Day: Oil (Bbl/d) 2,750 - 2,950…
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 Krista McKinney Tulsa Operations…
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…
Appendix: Reserve Detail Year End Total Proved Reserves Oil Gas (MBbls) (MMcf) MBoe (1) Proved developed and undeveloped reserves: As of December 31, 2012 13,074 429 13,146 Revisions for previous estimates 264 827 401…
Appendix: Hedge Detail Months Settlement Instrument Total Bbls. NYMEX Outstanding Price Floor Ceiling Type Per Month Index Jan-Dec 2014 96.10 Swap 5,000 WTI Jan-Dec 2014 100.00 Swap 5,000 WTI Jan-Dec 2014 97.40 Swap 5,000 WTI…
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