Michael Peterson, Chief Financial Officer of Mid-Con Energy Partners (NASDAQ: MCEP), presented today at EnerCom’s The Oil & Gas Conference 20®.
Mid-Con Energy Partners, LP is a publicly held Delaware limited partnership formed in July 2011 to own, acquire, exploit and develop producing oil and natural gas properties in North America, with a focus on Enhanced Oil Recovery.
In its second quarter 2015 results, Mid-Con Energy reported Distributable Cash Flow of $8.8 million, up 175.1% sequentially. Its production averaged 4,615 BOEPD, an increase of 0.8% sequentially and up 69.4% year-over-year.
During the company’s breakout session, management was asked the following questions:
- Other folks are talking about the operating cost. What do you think about your cost saving strategy? What is the utility cost for your production? What is the current status of your production cost?
- What is the current yield on your distribution? Have you cut your distribution like any other folks?
- You mentioned something about G&A – is the company right sized now?
- There is some excess CAPEX in your financials. Do you have any place in mind where you will spend it?
- What is your distribution coverage today? More importantly, how do you grow your distribution? Are you relying on the commodity price increase?
- Do you have any plan to go private?
- Since you want to create value for your investors, are you considering buying back stock?
- What’s the potential for more drop downs?
- Does the EPA have their nose in your water flooding business?
- If you decide to save your extra CAPEX, what is the climb rate for your company?
- You currently have 17% yields. How do you convince the market that the dividend is safe?
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