Mid-Con Energy Partners, LP Investor Presentation NASDAQ : MCEP www.midconenergypartners.com 1 Financial information as of November 6, 2013
Mid-Con Energy Partners, LP Operational Highlights(1) o The Waterflood Guys Core strength in waterflooding, a form of secondary Proved Reserves: 13.1 MMBoe oil recovery % Proved Developed: 67% Employees have prior experience in over…
Partnership Profile Asset Overview 2012 Total Proved Reserves: (1) MMBoe % Total Southern Oklahoma 6.7 51% Hugoton Northeastern Northeastern Oklahoma Hugoton Basin 3.1 3.1 24% 24% Basin Oklahoma Other 0.2 1% Total 13.1…
Oil Recovery Overview Original Oil In Place OOIP Primary Production 10 to 25% o Initial production from the reservoir typically recovered as a result of expansion of reservoir fluids which are naturally pressured within the…
Waterflooding Overview o Waterflooding increases production and recovery of oil in place by displacing oil from injection wells to producing wells o Historically, the success of waterfloods has been attributable to the quality of…
Waterflood Response & Growth Reservoir Fill-Up Start Production Water Response Injection BOPD Primary Secondary Production Production Time Elapsed Waterflood Life NASDAQ : MCEP www.midconenergypartners.com 7
Operating Strategy Exploit Potential o Increase production and recovery from existing reserve portfolio (99% Oil) Of Existing Property Base o Average daily production in 3Q 2013 increased over 32% YoY Maintain Operational o Our…
Borrowing Base and Liquidity Revolving Credit Facility o 150.0 Million Borrowing Base ( in millions) Increased Borrowing Base from 130.0 million to 150.0 million on Increased 160.0 Borrowing Base November 5, 2013 at 11/05/13 20.0…
Hedging Strategy o Mid-Con Energy has commodity derivatives covering approximately 80%, 70% and 10% of estimated average daily oil production from proved reserves for calendar years 2013, 2014 and 2015, respectively Oct-Dec 2013…
Distribution History o Approximate 8% Growth In Quarterly Rate Since IPO Since completing its initial public offering in December 2011, Mid-Con Energy will have paid 3.522 in cumulative cash distributions per unit (inclusive of…
Investment Highlights The Right Assets The Right Team o Long-life, low decline o Experienced management team and deep staff of o Relatively low risk waterflood projects over 65 employees with significant experience o Significant…
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…
Appendix: Organizational Structure Founders(1) Yorktown(2) 100% Public Mid-Con Energy Ownership(3) Private Affiliates Mid-Con Energy GP, LLC 1.8% 75.2% GP Interest Mid-Con Energy LP Interest 6.0% Operating, LLC LP…
Appendix: Southern Oklahoma Core Area Overview Ardmore West 2012 Total Proved Reserves:(1) MMBoe % Total SE Hewitt Highlands 3.7 28% Twin Forks 1.2 9% Battle Springs 1.0 7% Ardmore West 0.7 6% Twin Forks Carter Southeast…
Appendix: Northeastern Oklahoma Core Area Overview 2012 Total Proved Reserves:(1) KS OK MMBoe % Total Cleveland 2.1 16% Cushing 0.7 5% Skiatook 0.2 2% Osage Other NE OK 0.1 1% Skiatook Total 3.1 24% Additional…
Appendix: Hugoton Basin Core Area Overview Harker Ranch 2012 Total Proved Reserves:(1) Cheyenne MMBoe % Total Clawson Ranch 1.6 12% War Party I 0.4 3% War Party II 0.9 7% Harker Ranch 0.2 2% Total 3.1 24% Additional…
Appendix: Waterflood History Increasing Injection = Increasing Production *Injection and production volumes are presented on a gross basis. NASDAQ : MCEP www.midconenergypartners.com 19
Appendix: Waterflood Opportunity Increasing Injection = Increasing Production *Injection and production volumes are presented on a gross basis. NASDAQ : MCEP www.midconenergypartners.com 20
Appendix: Hedge Detail Months Settlement Instrument Total Bbls. NYMEX Outstanding Price Floor Ceiling Type Per Month Index Oct-Dec 2013 105.80 Swap 6,000 WTI Oct-Dec 2013 100.00 111.00 Collar 6,000 WTI Oct-Dec 2013 96.00 Swap 8,000…
Appendix: 3Q 2013 Summary Results Three Months Ended September 30, June 30, 2013 2012 2013 (in thousands, except per unit data) Production: Oil (MBbl) 227 171 230 Natural gas (MMcf) 32 31 36 Total (MBoe) (1) 232 176 236…
Appendix: 3Q 2013 Coverage Ratio Three Months Ended September 30, 2013 ( in thousands, except per unit data) Adjusted EBITDA (1) 14,935 Less: Cash interest expense 861 Estimated maintenance capital expenditures 2,031…
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…
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