Mid-Con Energy Partners, LP reported unaudited consolidated earnings and operating results for the first quarter ended March 31, 2013. For the quarter, the company reported total revenues of $19,056,000 against $10,600,000 a year ago. Income from operations was $4,671,000 against $2,013,000 a year ago. Net income was $4,059,000 against $1,662,000 a year ago. Limited partners' interest in net income was $3,985,000 against $1,629,000 a year ago. Net income per limited partner unit (basic and diluted) was $0.21 against $0.09 a year ago. Net cash provided by operating activities was $14,971,000 against $14,059,000 a year ago. Additions to oil and gas properties were $7,155,000 against $4,646,000 a year ago. Acquisitions of oil properties were $264,000. Adjusted EBITDA was $14,591,000 against $11,777,000 a year ago. Production volumes for the first quarter of 2013 were 226,000 barrels of oil equivalent (MBoe) or approximately 2,511 Boe per day on average. In comparison, production volumes for the first quarter of 2012 were 155,000 MBoe, or approximately 1,703 Boe per day on average. Year over year gains in production were propelled by continued water flood response to injection, infill drilling in the partnership's Southern Oklahoma core area and the full quarter impact of properties acquired during 2012. Oil sales, excluding the effect of commodity derivatives, were $20.0 million in first quarter of 2013 and resulted in average realized oil price of $90.90 per barrel (Bbl), compared to $102.24 per Bbl in the first quarter of 2012. Approximately 81% of oil production during the first quarter of 2013 was hedged at an average price of $98.07 per Bbl.

Mid-Con Energy Partners, LP, Q1 2013 Earnings Call, May 08, 2013

Mid-Con Energy Partners, LP announced that the board of directors of its general partner declared an increase in the quarterly cash distribution rate to $0.505 per unit for the quarter ended March 31, 2013, or $2.02 per unit on an annualized basis. The distribution will be payable May 14, 2013 to all unit holders of record at the close of business on May 7, 2013. This represents an approximate 6% increase over the first quarter 2012 cash distribution rate of $0.475 per unit and an approximate 2% sequential increase over the fourth quarter 2012 cash distribution rate of $0.495 per unit. The partnership also announced that the board of directors of its general partner expanded to nine directors, with the appointment of Dr. Michael Wiggins and Mr. Fred Ball, Jr., effective April 22, 2013. Mr. Ball is joining the board as an independent director and a member of the audit committee. Dr. Michael Wiggins currently serves as Mid-Con Energy's Executive Vice President and Chief Engineer. Mr. Fred Ball, Jr. currently serves as Senior Chairman of the Board for Bank of Texas.