Skip to main content May 2016 Investor Presentation – Midcon Energy | Shale Experts
Loading...
Database
Slide Database

May 2016 Investor Presentation – Midcon Energy

Midcon Energy · May 3, 2016 · 33 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. May 2016 Investor Presentation – Midcon Energy – slide 1
    Mid-Con Energy Partners, LP Investor Presentation Financial information as of April 30, 2016 NASDAQ: MCEP www.midconenergypartners.com 1
  2. May 2016 Investor Presentation – Midcon Energy – slide 2
    Investment Highlights The The Right Right Strategy Team The The Right Right Assets Structure NASDAQ: MCEP www.midconenergypartners.com 3
  3. May 2016 Investor Presentation – Midcon Energy – slide 3
    The Right Strategy NASDAQ: MCEP www.midconenergypartners.com 4
  4. May 2016 Investor Presentation – Midcon Energy – slide 4
    Mid-Con Energy Partners, LP The Waterflood Guys Reserves and Production Core strength in enhanced oil recovery, focusing on waterflooding Reserves(1): 22.3 MMBoe Employees have prior experience in over 250 waterflood Proved…
  5. May 2016 Investor Presentation – Midcon Energy – slide 5
    Operating Strategy Increase production and recovery from existing reserve portfolio (95% Oil) Exploit Potential Of Existing Average daily production in 1Q16 decreased 6.4% from 1Q15, reflecting temporary Property Base shut-in of…
  6. May 2016 Investor Presentation – Midcon Energy – slide 6
    Oil Recovery Overview Original Oil In Place OOIP Primary Production 10 to 25% Initial production from the reservoir typically recovered as a result of expansion of reservoir fluids which are naturally pressured within the…
  7. May 2016 Investor Presentation – Midcon Energy – slide 7
    Waterflooding Overview Waterflooding increases production and recovery of oil in place by displacing oil from injection wells to producing wells Historically, the success of waterfloods has been attributable to the quality of the…
  8. May 2016 Investor Presentation – Midcon Energy – slide 8
    The Right Team NASDAQ: MCEP www.midconenergypartners.com 9
  9. May 2016 Investor Presentation – Midcon Energy – slide 9
    The Waterflood Guys EXPERTISE: We are the waterflood guys. We focus on maximizing economically recoverable oil. In other words, we are Looking for oil in an oilfield. EXPERIENCE: Our management team and employees have…
  10. May 2016 Investor Presentation – Midcon Energy – slide 10
    The Right Assets NASDAQ: MCEP www.midconenergypartners.com 11
  11. May 2016 Investor Presentation – Midcon Energy – slide 11
    Asset Overview(1) Hugoton Northeastern Oklahoma % of Total Reserves 15% % of Total Reserves 40% % of Total Daily Production 15% % of Total Daily Production 29% Southern Oklahoma Total Mid-Con Energy Partners, LP % of Total…
  12. May 2016 Investor Presentation – Midcon Energy – slide 12
    Proven Reserves By Core Area 2011-2015 Northeastern Oklahoma Permian Southern Oklahoma Hugoton Gulf Coast 23,230 22,252 2% 15% 14% MBoe 13,934 13,146 29% 10,049 40% 2011 2012 2013 2014 2015 99% 99% 98%…
  13. May 2016 Investor Presentation – Midcon Energy – slide 13
    4Q15 Adjusted EBITDA per Boe MCEPs Operating Cash Margins were 4.39x Peers Adjusted EBITDA/Boe Adjusted EBITDA/Boe excluding the effects of hedging % Oil 45 Peer Average = 19.04/Boe Peer Average = 3.12/Boe 43.26 100% MCEP vs. Peers =…
  14. May 2016 Investor Presentation – Midcon Energy – slide 14
    Cash Surplus, Inclusive of CAPEX, Above 29/Boe 2016 Targeting Continued LOE Improvements Cash expenses (/Boe) CAPEX (/Boe) Cash surplus/(short-fall) (/Boe) 80 70 60 43.11 1Q16 33.67 50 24.22 Results 14.78 /Boe 40 5.33…
  15. May 2016 Investor Presentation – Midcon Energy – slide 15
    WTI Price Discounted by MCEP Equity 46.98/Bbl Assets Proven reserves (MMBoe) 22.3 MCEP unit price of 3.64 at May 2, 2016 30 discounts long-term average WTI price of 46.98 Units outstanding (MM) 30.1 30.00 NAV per MCEP unit…
  16. May 2016 Investor Presentation – Midcon Energy – slide 16
    NYMEX WTI Futures Strip 2016 2030 55.14/Bbl WTI Price Discounted by MCEP Equity 46.98/Bbl 65 NYMEX WTI Strip(1) MCEP unit price of 3.64 at May 2, 2016 discounts long-term average WTI price of 46.98 60 NYMEX WTI Strip, 14…
  17. May 2016 Investor Presentation – Midcon Energy – slide 17
    The Right Structure NASDAQ: MCEP www.midconenergypartners.com 18
  18. May 2016 Investor Presentation – Midcon Energy – slide 18
    2016 Net Capital Budget Core Area Summary By Core Area By Fiscal Quarter ( in millions) ( in millions) 5.0 HUG GC 4% 4% 4.0 S OK 12% 2.9 3.0 9.0 PERMIAN 2.6 Million 49% 2.0 1.7 1.7 NE OK 31% 1.0 - 1Q16…
  19. May 2016 Investor Presentation – Midcon Energy – slide 19
    Leverage and Liquidity(1) Borrowing Spring Acquisition Fall Spring Fall Spring Base 2014: 3Q14: 2014: 2015: 2015: 2016: 170MM 190MM 240MM 220MM 190MM TBD 4.0x Debt to EBITDA Covenant (RHS) 4.00x 240 35 37 26 3.50x 20 3.47x…
  20. May 2016 Investor Presentation – Midcon Energy – slide 20
    MCEP Unitholders Bear Lowest Cash Interest Expense Per Unit in Upstream MLP Space During 4Q15 0.40 0.36 0.35 0.33 0.30 Peer Average: 0.26 / Unit 0.26 Cash Interest Expense ( / Unit Outstanding) 0.25 0.23 0.23 0.21…
  21. May 2016 Investor Presentation – Midcon Energy – slide 21
    Hedge Profile Swap (% Hedged, LHS) 100% 100 Put (% Hedged, LHS) Collar (% Hedged, LHS) 90 Average Hedge Price (/Bbl) 80% 31% Floor Price (/Bbl, RHS) 35% 31% WTI Futures (/Bbl, RHS) 80 % Hedged 60% 16% 16% 16% 70 16%…
  22. May 2016 Investor Presentation – Midcon Energy – slide 22
    2016 Guidance, Capital Budget(1) & DCFPU Sensitivity Reiterate Guidance Issued February 2016 2016 Guidance and Capital Budget 2016 Net production (Boe/d)(2) 4,000 - 4,400 Lease operating expenses per Boe 16.00 - 20.00 Production…
  23. May 2016 Investor Presentation – Midcon Energy – slide 23
    Investment Highlights The The Right Right Strategy Team The The Right Right Assets Structure NASDAQ: MCEP www.midconenergypartners.com 24
  24. May 2016 Investor Presentation – Midcon Energy – slide 24
    Appendix NASDAQ: MCEP www.midconenergypartners.com 25
  25. May 2016 Investor Presentation – Midcon Energy – slide 25
    Appendix: First Quarter 2016 Results Production 1Q16 average net production of 4,286 Boe/d decreased approximately 10.2% from 4Q15 LOE 1Q16 LOE of 15.55/Boe decreased approximately 17.7% from 4Q15 Adjusted EBITDA(1) 1Q16…
  26. May 2016 Investor Presentation – Midcon Energy – slide 26
    Appendix: 1Q16 Financial and Operating Results Three Months Ended Variance Analysis March 31, December 31, March 31, Quarter-over-quarter Year-over-year (unaudited, in thousands, except per unit data) 2016 2015 2015 % % Oil (MBbl) 369…
  27. May 2016 Investor Presentation – Midcon Energy – slide 27
    Appendix: 1Q16 Non-GAAP Summary(1) Three Months Ended Variance Analysis March 31, December 31, March 31, Quarter-over-quarter Year-over-year 2016 2015 2015 % % Net income (loss) (3,313) (57,961) (4,112) 54,648 (94.3)% 799 (19.4)%…
  28. May 2016 Investor Presentation – Midcon Energy – slide 28
    Appendix: 1Q16 Operating Results per Boe Three Months Ended Variance Analysis March 31, December 31, March 31, Quarter-over-quarter Year-over-year Operating Results per Boe (/Boe) 2016 2015 2015 % % Oil & natural gas sales revenues…
  29. May 2016 Investor Presentation – Midcon Energy – slide 29
    Appendix: Permian OBrien Asset Overview Strawn Unit Stonewall Corsica Unit 29% of Total MCEP Reserves(1) Kent Haskell Tomkins Field Sagerton NE 36% of Total MCEP Production(2) Eleven Counties in Texas: Fisher Jones Coke Gammon…
  30. May 2016 Investor Presentation – Midcon Energy – slide 30
    Appendix: Northeastern Oklahoma Asset Overview KS 40% of Total MCEP Reserves(1) OK 29% of Total MCEP Production(2) Osage, Pawnee, Creek and Osage Seminole Counties, OK Skiatook Five Properties: Cleveland Cushing Cleveland…
  31. May 2016 Investor Presentation – Midcon Energy – slide 31
    Appendix: Southern Oklahoma Asset Overview 14% of Total MCEP Reserves(1) 19% of Total MCEP Production(2) Carter and Love Counties, OK Six Properties: Ardmore West Eastman Hills Highlands Battle Springs Southeast Hewitt Twin…
  32. May 2016 Investor Presentation – Midcon Energy – slide 32
    Appendix: Hugoton Asset Overview Harker Ranch Cheyenne 15% of Total MCEP Reserves(1) 15% of Total MCEP Daily Production(2) Cheyenne County, CO Potter County, TX Cimarron and Texas Counties, OK CO KS Eight Properties: Ona…
  33. May 2016 Investor Presentation – Midcon Energy – slide 33
    Appendix: Gulf Coast TX Asset Overview 2% of Total MCEP Reserves(1) 1% of Total MCEP Production(2) One Property: Liberty South Liberty Liberty South (1) Reserve data based on December 31, 2015 reserve report audited by…

From the store

Browse maps, data & reports in the Shale Experts store