First Quarter 2014 Earnings Conference Call Supplemental Information May 7, 2014
Refocused Energy Deliver Financial Stability Focus on Core Areas in the Miss Lime & Anadarko Enhance Adjusted EBITDA & Production Value Expand, High-grade Inventory Continue Operational Excellence Evaluate Options to Unlock…
Key Messages Deliver Financial Stability Delivered 111 mm in Adjusted EBITDA at high end of consensus Costs met guidance, remain low and are sustainable at those levels, with potentialk for continued improvement Completed Pine…
Growing Production and EBITDA 500 - 550 Q1 111 Demonstrated history of growth Organic F&D costs: 13.59/Boe Acquisition Costs: 16.48/Boe All-in F&D & Acq Costs, including Revisions: 20.09/Boe Mid-Con only all-in F&D & Acq…
Enhance Adjusted EBITDA & Production Value Mississippian Lime: Differentiated Performance Top Tier overall well performance in the Mississipian Lime trend 146 wells on production 30 days: Average peak 30-day rate of 565 Boe/d Peak…
Expand, High-Grade Inventory Anadarko Basin: Well Performance and Highlights Wells with 30 day peak IP rates June 1, 2013 thru April 16, 2014 Peak 30 Wells Wells with Day IP Formation Spud 30 day IPs Boepd Cleveland 33 26 374…
Continue Operational Excellence Cash Operating Cost Improvements (1) (2) Absolute Q1 2014 costs were lower than Q4 2013; per BOE higher due to winter weather impacting production LOE and G&A improvements are sustainable,…
Deliver Financial Stability Enhanced Financial Position Strong EBITDA growth Q1 2014 Adjusted EBITDA 111mm, projected 500 - 550mm for 2014 millions Projected debt/EBITDA of 3.5x by year end 2014 Liquidity May 1, 2014 post Pine…
Guidance (as of May 7, 2014) Q2 2014 FULL YEAR 2014 Daily Production (boe/day)(1) 32,000 - 33,000 (1) 32,000 - 35,000 (1) Miss+ Anadarko LA Miss+ Anadarko LA By Area 63% 29% 8% By Area 64% 29% 7% Oil 35-40% 45-50% 60-65% Oil 35-40%…
Hedging Summary (as of May 7, 2014) (1) The company enters into swap arrangements intended to fix the differential between the Louisiana Light Sweet (LLS) pricing and the West Texas Intermediate (NYMEX WTI) pricing. (2) Includes…
Adjusted EBITDA Reconciliation For the Three Months For the Twelve Months Ended March 31, Ended December 31, 2014 2013 2012 2011 Adjusted EBITDA reconciliation to net loss: Net income (loss) (83,645) (343,985) (150,097) 16,657…
Preferred Share Dividend Calculation Key Tems Calculation: Dividend Payment dates: March 30 September 30 Conversion into Conversion into Common Shares Common Shares Rate: 8% per annum Per share Total 13.50 11.00 Compounding:…
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