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2Q 2019 Earnings Presentation – Midcon Energy

Midcon Energy · Aug 1, 2019 · 14 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. 2Q 2019 Earnings Presentation – Midcon Energy – slide 1
    Mid-Con Energy Partners, LP Supplemental: Second Quarter 2019 August 1, 2019
  2. 2Q 2019 Earnings Presentation – Midcon Energy – slide 2
    Transforming the Partnership Portfolio Review MCEP Assets as of 2015 MCEP Assets as of 2Q19 HIGHLIGHTS Developed and divested assets at premium sale Divested prices 2016 Acquired low decline assets Acquired 2018 in Oklahoma and…
  3. 2Q 2019 Earnings Presentation – Midcon Energy – slide 3
    Strategic Transformation Building Stable Production and Positioned for Growth Navigated the Downturn and Achieved Significant Debt Reduction Entered price collapse of 2014 with 205 MM drawn on the RBL Since 2014, reduced debt by 139 MM…
  4. 2Q 2019 Earnings Presentation – Midcon Energy – slide 4
    1H19 Highlights Development initiated at the Pine Tree field in Wyoming. Achieved conditional approval for secondary unit (13,314 acres) and first injection within 18 months of initial acquisition. Positioned for Growth Recompletion…
  5. 2Q 2019 Earnings Presentation – Midcon Energy – slide 5
    Pine Tree Shannon Unit (WY) Waterflood Development The Pine Tree field has been prolific, producing over 11 MMBO from the Shannon formation covering 13,300 gross acres. The field was discovered in 1976 and drilled on 160-acre…
  6. 2Q 2019 Earnings Presentation – Midcon Energy – slide 6
    First Injection at Pine Tree Unit Initial Development and 2H19 Plan Base Map with Cumulative Oil Indicated The initial waterflood development at Pine Tree will focus on the north half of the field where wells had excellent primary…
  7. 2Q 2019 Earnings Presentation – Midcon Energy – slide 7
    House Creek Sussex Unit (WY) Operations Overview House Creek Sussex Unit (WY) Through June 2019 House Creek Sussex Unit (WY) Gross Daily Oil Production - BOPD 1000 Cumulative Production to Date Over 28 MMBO 100 Acquired…
  8. 2Q 2019 Earnings Presentation – Midcon Energy – slide 8
    1Q19 Oklahoma Transaction Realized Operational Efficiency 2Q18 Oklahoma acquisition and the 1Q19 strategic 1Q19 Strategic Transaction Net Operating Expenses transaction continued the portfolio transformation 1,274 1,287 and leveraged…
  9. 2Q 2019 Earnings Presentation – Midcon Energy – slide 9
    Financial Overview Production (Boe/d) Adj. EBITDA (MM) 4,500 8.0 7.5 4,000 3,609 3,663 3,538 7.0 6.6 3,469 6.0 3,500 6.0 2,800 2,934 5.1 5.1 3,000 5.0 4.5 2,500 4.0 2,000 3.0 1,500 2.0 1,000 500 1.0 0 0.0 1Q18 2Q18 3Q18 4Q18…
  10. 2Q 2019 Earnings Presentation – Midcon Energy – slide 10
    Borrowings Outstanding and Leverage Ratio(1) 140 4.00x 41 3.35x 120 35 3.24x 3.50x 37 28 Borrowings Outstanding, MM 3.34x 3.17x 41 43 3.00x 100 3.14x 2.86x Leverage Ratio 2.79x (2) 2.50x 80 2.00x 60 1.50x 96…
  11. 2Q 2019 Earnings Presentation – Midcon Energy – slide 11
    Mid-Con Energy Partners, LP 2019 Guidance FY2019 Guidance as of 07/31/19 2019 Net Production (Boe/d) 3,400 - 3,800 Lease Operating Expenses per Boe 21.00 - 24.00 Production Taxes (% of total revenue) 8.00% - 9.00% Estimated Capital…
  12. 2Q 2019 Earnings Presentation – Midcon Energy – slide 12
    Appendix
  13. 2Q 2019 Earnings Presentation – Midcon Energy – slide 13
    Appendix Commodity Derivatives 100% 100 Average Hedge Price (/Bbl) 80% 80 % PDP Hedged 60% 60 40% 40 20% 20 0% - 3Q19 4Q19 1Q20 2Q20 3Q20 4Q20 1Q21 2Q21 3Q21 4Q21 (2) Swap (% Hedged, LHS) Collar (% Hedged, LHS)…
  14. 2Q 2019 Earnings Presentation – Midcon Energy – slide 14
    Mid-Con Energy Partners, LP Investor Relations 2431 E. 61st Street, Suite 850 Tulsa, OK 74136 IRmidcon-energy.com 918.743.7575 17

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