Mid-Con Energy Partners

Mid-Con Energy Partners, LP (NASDAQ - MCEP) 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 ("EOR"). Our management team has significant industry experience, especially with waterflood projects and, as a result, our operations focus primarily on enhancing the development of producing oil properties through waterflooding.

Our primary business objective is to generate stable cash flow, which will allow us to make quarterly cash distributions to our unitholders at the initial quarterly distribution rate and, over time, to increase our quarterly cash distributions. To achieve our objective, we intend to execute the following business strategies:

Continue exploitation of our existing properties to maximize production;
Pursue acquisitions of long-lived, low-risk producing properties with upside potential;
Capitalize on our relationship with the Mid-Con Energy Partners' private affiliates for favorable acquisition opportunities;
Maintain operational control and a focus on cost-effectiveness in all our operations;
Reduce the impact of commodity price volatility on our cash flow through disciplined commodity hedging strategies;
Maintain a balanced capital structure to allow for financial flexibility to execute our business strategies; and
Utilize compensation programs that align the interest of our management team with our unitholders.

Company Growth (employees)
Type
Public
HQ
Tulsa, US
Founded
2011
Size (employees)
70 (est)
Mid-Con Energy Partners was founded in 2011 and is headquartered in Tulsa, US

Mid-Con Energy Partners Office Locations

Mid-Con Energy Partners has an office in Tulsa
Tulsa, US (HQ)
850 2431 E 61st St

Mid-Con Energy Partners Data and Metrics

Mid-Con Energy Partners Financial Metrics

Mid-Con Energy Partners's revenue was reported to be $18.5 m in Q1, 2017
USD

Revenue (Q1, 2017)

18.5 m

Net income (Q1, 2017)

4.4 m

EBIT (Q1, 2017)

5.9 m

Market capitalization (18-Aug-2017)

29.9 m

Cash (31-Mar-2017)

2.8 m
Mid-Con Energy Partners's current market capitalization is $29.9 m.
USDFY, 2013FY, 2014FY, 2015FY, 2016

Revenue

80.1 m126.3 m96.3 m43.9 m

Revenue growth, %

58%(24%)(54%)

Sales and marketing expense

22.7 m

General and administrative expense

6.9 m

Operating expense total

29.6 m

EBIT

31.5 m27.2 m(88.8 m)(17.3 m)

EBIT margin, %

39%22%(92%)(39%)

Interest expense

3.3 m4.7 m7.3 m7.5 m

Interest income

12 k

Net Income

28.2 m22.5 m(95.5 m)(24.8 m)
USDQ2, 2014Q3, 2014Q1, 2015Q2, 2015Q3, 2015Q1, 2016Q2, 2016Q3, 2016Q1, 2017

Revenue

19.4 m35.5 m19.2 m12.7 m38.3 m13.8 m4.7 b14 b18.5 m

Sales and marketing expense

6.6 m6.8 m8.9 m7.6 m8.8 m6.1 m5.8 b5.7 b5 m

General and administrative expense

1.7 m2.6 m3.6 m1.6 m2.3 m2.1 m1.5 b1.7 b1.8 m

Operating expense total

8.3 m9.5 m12.6 m9.3 m11 m8.2 m7.3 b7.4 b6.8 m

EBIT

4.9 m18.2 m(2.4 m)(6.1 m)(23.6 m)(1.2 m)(13.7 b)(533 m)5.9 m

EBIT margin, %

25%51%(12%)(48%)(62%)(8%)(293%)(4%)32%

Interest expense

1.1 m1.2 m1.7 m1.8 m1.8 m2.2 m2.1 b1.7 b1.5 m

Interest income

4 m3 k

Net Income

3.8 m17 m(4.1 m)(7.9 m)(25.5 m)(3.3 m)(15.8 b)(2.4 b)4.4 m
USDFY, 2013FY, 2014FY, 2015FY, 2016

Cash

1.4 m3.2 m615 k2.4 m

Accounts Receivable

5.4 m

Current Assets

8.7 m42.2 m35.2 m8.6 m

Total Assets

190.1 m454.6 m327.1 m276.3 m

Accounts Payable

2.6 m

Total Debt

122 m

Current Liabilities

7.2 m8 m33.9 m9.1 m

Total Equity

66.8 m234.1 m130.5 m111.7 m

Debt to Equity Ratio

1.1 x

Debt to Assets Ratio

0.4 x

Financial Leverage

2.8 x1.9 x2.5 x2.5 x
USDQ2, 2014Q3, 2014Q1, 2015Q2, 2015Q3, 2015Q1, 2016Q2, 2016Q3, 2016Q1, 2017

Cash

1.8 m1.6 m300 k789 k961 k105 k4 m2.1 m2.8 m

Current Assets

10.5 m14.8 m30.5 m24.3 m37.3 m24.7 m36.5 m9.6 m8.1 m

Total Assets

248.8 m332.8 m443.9 m429.5 m393.9 m312.1 m292.6 m280.6 m273.3 m

Accounts Payable

3 m2.6 m3.2 m3.1 m3 m2.6 m2.3 m2.5 m808 k

Current Liabilities

14.2 m9.5 m4.4 m4.4 m4 m21.7 m59.1 m5 m5.6 m

Total Equity

90.7 m149.8 m228.1 m216.8 m188.2 m127.6 m112.1 m115.5 m115.5 m

Financial Leverage

2.7 x2.2 x1.9 x2 x2.1 x2.4 x2.6 x2.4 x2.4 x
USDFY, 2013FY, 2014FY, 2015FY, 2016

Net Income

28.2 m22.5 m(95.5 m)(24.8 m)

Depreciation and Amortization

14.4 m21.9 m34.2 m23.1 m

Accounts Receivable

(365 k)(1.3 m)3.5 m(751 k)

Cash From Operating Activities

56.6 m50.5 m48.4 m43.9 m

Cash From Investing Activities

(50.4 m)(189.3 m)(13.9 m)(8.5 m)

Cash From Financing Activities

(5.8 m)140.7 m(37.1 m)(33.7 m)

Interest Paid

2.8 m4.6 m6.1 m
USDQ2, 2014Q3, 2014Q1, 2015Q2, 2015Q3, 2015Q1, 2016Q2, 2016Q3, 2016Q1, 2017

Net Income

3.8 m17 m(4.1 m)(7.9 m)(25.5 m)(3.3 m)(15.8 b)(2.4 b)4.4 m

Depreciation and Amortization

4.7 m5.6 m7.8 m8.2 m9.7 m6.1 m5.8 b5.7 b4.9 m
USDY, 2017

Revenue/Employee

264 k

Financial Leverage

2.4 x

Mid-Con Energy Partners Market Value History

Traffic Overview of Mid-Con Energy Partners

Mid-Con Energy Partners Company Life and Culture

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