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4Q 2016 Earning Results – Consol Energy Inc.

Consol Energy Inc. · Jan 31, 2017 · 19 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. 4Q 2016 Earning Results – Consol Energy Inc. – slide 1
    EARNINGS RESULTS FOURTH QUARTER 2016
  2. 4Q 2016 Earning Results – Consol Energy Inc. – slide 2
    E&P: Q4 2016 Operations Summary Marcellus Shale Quarterly Summary Production Update: Asset Region SWPA OPEX Efficiencies: Reduced Q4 2016 OPEX cash costs by 2.1 million while increasing production by 4.9 Bcfe Horizontal Rigs - in…
  3. 4Q 2016 Earning Results – Consol Energy Inc. – slide 3
    E&P: Q4 2016 Results E&P Results Summary Y/Y Q/Q (1) E&P Results 4Q 2016 4Q 2015 Change 4Q 2016(1) 3Q 2016 Change (1) Average Sales Price (/Mcfe) 2.77 2.78 (0.01) 2.77 2.54 0.23 (2) Total Production Costs (/Mcfe) 2.27 2.37 (0.10)…
  4. 4Q 2016 Earning Results – Consol Energy Inc. – slide 4
    E&P Marketing: Highlights Q4 2016 E&P Realization and Marketing Natural Gas Price Reconciliation Highlights 2016 2015 During the quarter, CONSOL successfully Q4 Q3 Q2 Q1 Q4 completed the majority of its planned firm NYMEX Natural…
  5. 4Q 2016 Earning Results – Consol Energy Inc. – slide 5
    E&P Marketing: Gas Hedges 320 Hedge Position 300 NYMEX Only Hedges Exposed to Basis (Outer ring = NYMEX; Inner ring = Basis) 280 (2) NYMEX + Basis (2) 260 Gas Volumes Hedged (Bcf) 240 220 200 180 160 140 120 2017 100…
  6. 4Q 2016 Earning Results – Consol Energy Inc. – slide 6
    E&P Marketing: Liquids Realizations Natural Gas Liquids, Oil, and Condensate Wet Gas Flexibility Q4 2016 liquids sold: 10.0 Bcfe Gas High Total weighted average price of all liquids increased Avoid Processing Optimize 38% to 21.34…
  7. 4Q 2016 Earning Results – Consol Energy Inc. – slide 7
    Finance: Q4 2016 Review Fourth Quarter 2016 Results Adjusted net income from continuing operations in the 2016 fourth quarter of 0.5 million, or 0.00 per diluted share(1); on a GAAP basis, net loss from continuing operations of 321…
  8. 4Q 2016 Earning Results – Consol Energy Inc. – slide 8
    Finance: Q4 2016 Review Net (Decrease) / Increase in Cash Generated positive free cash flow - Organic free cash flow from continuing operations in Q4 2016 of 118 million; full-year 2016 total organic free cash flow of 306 million -…
  9. 4Q 2016 Earning Results – Consol Energy Inc. – slide 9
    Finance: Liquidity Strong Liquidity Position of 1.7 Billion Amount/ Amount Letters Amount December 31, 2016 ( in millions) Capacity Drawn of Credit Available (1) Cash and Cash Equivalents 51 - - 51 Revolving Credit Facility(2)…
  10. 4Q 2016 Earning Results – Consol Energy Inc. – slide 10
    Finance: Liquidity Debt and Liquidity Profile CNX CNXC: CNX CNX Unit Market Consolidated 100% Attributable Equity Value of Ownership in Affiliated Public MLPs Owned (5) Price Value Capitalization and Liquidity 12/31/2016 12/31/2016…
  11. 4Q 2016 Earning Results – Consol Energy Inc. – slide 11
    Finance: Leverage Ratio and Liquidity Projection Leverage Ratio 2016-2018E(1) Year-end 2016 leverage ratio below prior forecast; 2017E and 5.0 2018E targets reduced by 0.2x and 0.3x, respectively 4.4 4.0 Path to reaching and…
  12. 4Q 2016 Earning Results – Consol Energy Inc. – slide 12
    Finance: Legacy Liabilities Significant legacy liability reductions over Balance Sheet Liability Long-Term Liability Guidance past three years: 12/31/2016 FY 2017E FY 2018E LTD 19 Miller Creek/Fola transaction drove WC 80…
  13. 4Q 2016 Earning Results – Consol Energy Inc. – slide 13
    Finance: E&P Guidance E&P Segment Guidance 2017E 2018E Production Volumes: Natural Gas (Bcf) 375 445 NGLs (MBbls) 5,800 5,950 Oil (MBbls) 45 40 Condensate (MBbls) 740 730 Total Production (Bcfe) 415 485 % Liquids 10% 8% Open…
  14. 4Q 2016 Earning Results – Consol Energy Inc. – slide 14
    Finance: PA Mining Operations Guidance PA Mining Operations Consolidated 100% Basis 2017E 2018E Estimated Total Coal Sales Volumes (in millions of tons) 26.0 26.0 Total Committed Volumes (Contracted & Priced) 25.4 % Committed…
  15. 4Q 2016 Earning Results – Consol Energy Inc. – slide 15
    Finance: Raising 2017E EBITDA Guidance EBITDA Guidance by Segment 2017E Current Prior ( in millions) E&P(1) Coal Other Total Total (1/31/17) (12/13/16) Earnings Before Interest, Taxes and 705 390 (15) 1,080 840 DD&A (EBITDA)…
  16. 4Q 2016 Earning Results – Consol Energy Inc. – slide 16
    APPENDIX 17
  17. 4Q 2016 Earning Results – Consol Energy Inc. – slide 17
    Finance: Q4 2016 Review Non-GAAP Reconciliation: EBITDA and Adjusted EBITDA Three Months Ended December 31, 2016 2016 2016 2016 2015 PA Mining E&P Division Operations Other(1) Total Company Total Company ( in thousands) Division…
  18. 4Q 2016 Earning Results – Consol Energy Inc. – slide 18
    Finance: Q4 2016 Review Non-GAAP Reconciliation: Trailing Twelve Months EBIT, EBITDA, and Adjusted EBITDA Three Months Three Months Three Months Three Months Year Ended Ended Ended Ended Ended March 31, June 30, September 30, December…
  19. 4Q 2016 Earning Results – Consol Energy Inc. – slide 19
    Finance: Q4 2016 Review Free Cash Flow Reconciliation Three Months Ended Year Ended December 31, December 31, ( in thousands) 2016 2016 Net Cash provided by Continuing Operations 87,139 459,350 Capital Expenditures (47,431)…

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