Constellation Energy Partners LLC Second Quarter 2014 Earnings Presentation August 15, 2014
Updates Operating highlights: 52% of sales YTD14 revenue was from (1) (2) oil & liquids Average daily net oil & liquids production of 1,026 Bbl YTD14 (up 105% vs. YTD13) YTD14 operating cost of 25.29 per BOE (4.22 per…
The Path to Distributions Execution and implementation of the CEP/SOG Services Agreements (Q214) Agreement reached in May-14 Effective July 1st, affiliates of SOG now provide services that the company requires to operate its business…
Q214 Financial Results Q214 vs. Q114 Q214 vs. Q213 ( in 000s unless noted) Q214 Q114 Q214 Q213 Production (MBOE) 383 372 383 308 Oil & Gas Sales 18,004 16,738 18,004 13,042 Gain (Loss) from Mark-to-Market Activities (5,915) (4,997)…
Appendix
Portfolio Summary Constellation Energy Partners LLC Existing Reserves New Activity Total: 104 Bcfe Drilling focus: Cherokee Basin oil opportunities in the Pennsylvanian aged Proved reserves, total: 73 Bcfe horizon with the Burgess,…
Oil Hedge Positions(1) Fixed Price Swaps Bbl Hedged Weighted Average Sales Price (/Bbl) 2014 147,487 95.71 2015 258,830 91.04 2016 214,970 85.64 (1) As of August 15, 2014 NOTE: The company accounts for derivatives using the…
Non-GAAP Financial Measures Use of Non-GAAP Financial Measures: EBITDA and Adjusted EBITDA are non-GAAP financial measures that are reconciled to their most comparable GAAP financial measure under Reconciliation of Non-GAAP Financial…
Reconciliation Items Reconciliation of Net Income (Loss) to Adjusted EBITDA ( in 000s) YTD14 Q414 Q314 Q214 Q114 Q213 Net income (loss) (7,950) - - (5,011) (2,939) 1,112 Interest (income) expense, net 1,058 - - 533 525 864 (1)…
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