Mid-Con Energy Partners, LP Supplemental: First Quarter 2017 Results May 1, 2017
2017 Strategic Objectives Progress Update Objectives Progress Update Live within operating cash flow Reduced debt by 1.5 million during and direct excess funds to reduce 1Q17 after investing approximately Drive Continued revolver…
Capital Expenditures First Quarter 2017 Activity 2.3 Million in 1Q17 Total CAPEX Maintenance: 1.3 million Growth: 1.0 million Initiated 5 conversions to injection Permian: 3 conversions SOK: 2 conversions 47% 2.3MM 1Q17 CAPEX…
Operating and Financial Results Sequential and YoY Variance Analysis Three Months Ended Variance Analysis March 31, December 31, March 31, Quarter-over-quarter Year-over-year (unaudited, in thousands, except per Boe data) 2017 2016…
Quarterly Cash Expenses Continued Downtrend in LOE Through 1Q17 Total Cash Expenses per Boe decreased 34.9% since 1Q15 Total LOE decreased 44.0% since 1Q15 Total Cash Expenses decreased 16.7% since 1Q16 14,000 13,162 Total LOE…
Quarterly Cash Expenses Per Boe(1) Year-over-Year Improvement in LOE and Cash Interest Total Cash Expenses per Boe decreased 17.6% since 1Q15 Total LOE per Boe decreased 29.2% since 1Q15 Total Cash Expenses decreased 0.3% since 1Q16…
Cash Margins Before Hedges Cash Surplus, Inclusive of Total CAPEX, Above 34/Boe 80 70 60 43.29 1Q17 33.82 50 Results 24.35 14.88 /Boe 40 13.84 5.41 Break even 30 6.95 Operating 9.50 9.50 9.50 9.50 9.50 9.50 Cash Flows 20…
Debt & Liquidity Update 3.06x Total Leverage(1) and 140MM Borrowing Base 220.0 220.0 6.00x 20.0 200 26.0 188.0 180.0 140 Borrowing Base Reaffirmed 7.5 During Fall-16 Redetermination 5.00x 11.0 163.0 160 140.0 140.0 140.0…
Updated 2017 Guidance & Capital Budget Raising Lower End of Production Guidance Range FY2017 Guidance as of 05/01/17 2017 Net production (Boe/d)(1) 3,600 - 3,900 Lease operating expenses per Boe 14.50 - 16.50 Production taxes (%…
Appendix
Commodity Derivatives Summary Positions as of May 1, 2017 3,000 Put (Bbl/d Hedged, LHS) 90 2,637 2,609 Collar (Bbl/d Hedged, LHS) 2,446 Floor Price (/Bbl, RHS) Average Floor Price (/Bbl) 2,500 80 WTI Futures (/Bbl, RHS) 2,000…
Appendix Non-GAAP Summary(1) Three Months Ended March 31, December 31, March 31, ( in thousands) 2017 2016 2016 Reconciliation of Net Income (Loss) to Adjusted EBITDA and Distributable Cash Flow Net income (loss) 4,442 (3,311)…
Mid-Con Energy Partners, LP Investor Relations 2431 E. 61st Street, Suite 850 Tulsa, OK 74136 IRmidcon-energy.com 918.743.7575
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