Mid-Con Energy Partners, LP 1st Quarter 2014 Earnings Call May 6, 2014 Financial information as of May 5, 2014 NASDAQ: MCEP www.midconenergypartners.com 1
Highlights 1Q 2014 average Completed First Production net production of May 2014 Dropdown Growth 2,622 Boe/d Acquisition increased approximately 4% o In 1Q 2014, acquired 349 above 1Q 2013 o Signed a purchase Boe/d average net…
Earnings Summary Three Months Ended March 31, December 31, March 31, 2014 2013 2013 (in thousands, except per unit data) Production: Oil (MBbl) 232 230 220 Natural gas (MMcf) 21 23 37 Total (MBoe) (1) 236 234 226 Average…
Coverage Ratio Calculation Three Months Ended March 31, 2014 ( in thousands, except per unit data) Adjusted EBITDA (1) 12,722 Less: Cash interest expense 866 Estimated maintenance capital expenditures 1,757 Distributable Cash…
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 4.552 in cumulative cash distributions per unit (inclusive of May…
1Q 2014 Capital Expenditures Growth & Maintenance CapEx o 7.0 Million In Total CapEx Maintenance: 1.8 million Maintenance CapEx Growth: 5.2 million 1.8 Million o 31 Wells Drilled, Completed or Converted During 1Q 2014 7.0 12…
Borrowing Base and Liquidity o Reported Liquidity of 27.4 Million 0.4 million cash and cash equivalents 27.0 million borrowings available under revolving credit facility o 170.0 Million Borrowing Base Increased Borrowing Base from…
Hedge Profile o Mid-Con Energy has commodity derivatives covering approximately 86% and 19% of estimated oil production in April-December 2014 and 2015, respectively, based on the mid-point of 2014 oil production guidance(1) Apr-Dec…
Executive Succession Plan o Leadership changes effect August 1, 2014: Current Title New Title Craig George Executive Chairman of the Board Director Randy Olmstead Chief Executive Officer Executive Chairman of the Board Jeff…
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 Krista McKinney Tulsa Operations…
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…
Appendix: Sequential Variance Table Sequential Variance Table 1Q 2014 4Q 2013 Variance % Total Production (MBoe) 236 234 2 0.9% A. Operating Results per Boe: 1Q 2014 4Q 2013 Variance % Oil & Natural Gas Sales 92.40 91.74 0.66 0.7%…
Appendix: Year-over-Year Variance Table Year-over-Year Variance Table 1Q 2014 1Q 2013 Variance % Total Production (MBoe) 236 226 10 4.2% A. Operating Results per Boe: 1Q 2014 1Q 2013 Variance % Oil & Natural Gas Sales 92.40 89.27…
Appendix: Hedge Detail Months Settlement Instrument Total Bbls. NYMEX Outstanding Price Floor Ceiling Type Per Month Index Apr-Dec 2014 96.10 Swap 5,000 WTI Apr-Dec 2014 100.00 Swap 5,000 WTI Apr-Dec 2014 97.40 Swap 5,000 WTI…
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