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DUG: NIOBRARA – PDC Energy, Inc.

PDC Energy, Inc. · May 30, 2013 · 20 slides

Investor presentation from the Shale Experts oil & gas presentation and slide database. Every page is imaged and its text indexed for search across operators, plays, basins and time.

Slides

  1. DUG: NIOBRARA – PDC Energy, Inc. – slide 1
    DUG: NIOBRARA May 30, 2013 NASDAQ:PDCE 5/30/2013 1
  2. DUG: NIOBRARA – PDC Energy, Inc. – slide 2
    Company Overview NASDAQ: PDCE Strategic Core Areas Colorado and Appalachian Basin Market cap 1.5 Billion(1) Enterprise value 2.1 Billion(1) WATTENBERG UTICA Liquid- Proved reserves 179 MMBoe(2) 2013E Production 5,489 MBoe Rich…
  3. DUG: NIOBRARA – PDC Energy, Inc. – slide 3
    Organic Investment Opportunities WATTENBERG UTICA - APPALACHIAN BASIN 2,000 HZ Projects 200 HZ Projects (1,000 spacing) 6.3 Billion Estimated Capital (Net) 1.6 Billion Estimated Capital (Net) 40% - 140% IRR(1) 30% - 80% IRR(1) 70 -…
  4. DUG: NIOBRARA – PDC Energy, Inc. – slide 4
    10 Years of Consistent Proved Reserve Growth Completed Transition to Balanced Reserves Mix Long-term reserve growth driven by entry into resource plays with successful exploitation Recent reserves growth primarily driven by…
  5. DUG: NIOBRARA – PDC Energy, Inc. – slide 5
    PDC Energy - Core Wattenberg Third largest leaseholder and producer in the Wattenberg Field 99,000 net acres(1) Currently drilling 70% - 80% liquids Typical EURs from 300 to 500 MBoe Excellent returns on drilling IRR of 40% -…
  6. DUG: NIOBRARA – PDC Energy, Inc. – slide 6
    PDC Wattenberg History Vertical Well Focus Horizontal Well Transition 1999 PDC added Rocky Mountains to Acquired core operating Aceite in NE area. PDC portion of Merit acquired 100% Wattenberg Acquisition WI in 53 WB Field…
  7. DUG: NIOBRARA – PDC Energy, Inc. – slide 7
    PDC Wattenberg Historical Production Total Net Production (MBoe) 6,000 5,000 4,000 MBoe 3,000 2,000 1,000 0 2008 2009 2010 2011 2012 2013E Gas NGL Oil 5/30/2013 8
  8. DUG: NIOBRARA – PDC Energy, Inc. – slide 8
    DJ Basin Stratigraphic Column Multiple Target Zones Current PDC Operations 2,300 net producing vertical wells 60+ producing horizontal wells Spud 17 gross horizontal wells YTD in Wattenberg field Currently 3 rigs running Drilling 3…
  9. DUG: NIOBRARA – PDC Energy, Inc. – slide 9
    Horizontal Wattenberg Development Strong Well Performance Shows Potential for Development Across Wattenberg PDC Hz Codell PDC Hz Niobrara 5/30/2013 10
  10. DUG: NIOBRARA – PDC Energy, Inc. – slide 10
    Horizontal Production: Niobrara and Codell (2) EUR: 500 MBoe Capex: 4.2MM IRR(1): 140+% PV10: 7.5 MM EUR: 300 MBoe (2) Capex: 4.2MM IRR(1): 57% PV10: 3.2 MM (1) Flat Pricing: 90 NYMEX Oil, 3.50 NYMEX Gas. Excludes lease…
  11. DUG: NIOBRARA – PDC Energy, Inc. – slide 11
    PDC Wattenberg Horizontal Program Schaefer SchaeferPad Pad 6N-63W-10 6N-63W-10 4-well 4-wellpad pad Wells Ranch Pad 6N-63W-34 4-well pad Waste Management Pad 2N-64W-2 16-wells Fall 2013 Riteaway Pad…
  12. DUG: NIOBRARA – PDC Energy, Inc. – slide 12
    Riteaway Pad 5N-67W-32 Map View Production (Boepd) 10,000 N 32 1,000 Vertical Well HZ Niobrara Stacked HZ Niobrara/ Codell 100 Side View Riteaway Pad Codell Riteaway Pad Niobrara Avg. 500 MBOE 300 MBOE 10 0 30 60…
  13. DUG: NIOBRARA – PDC Energy, Inc. – slide 13
    Wells Ranch Pad vs. Horizontal Well 6N-63W-34 Map View Production (Boepd) Wells Ranch Pad 10,000 N 34 1,000 Wells Ranch 43-34H Vertical Well HZ Niobrara Stacked HZ Niobrara/ Codell 100 Side View Wells Ranch Pad Avg.…
  14. DUG: NIOBRARA – PDC Energy, Inc. – slide 14
    Schaefer Pad 6N-63W-10 Map View Production (Boepd) 10,000 N 10 1,000 Vertical Well HZ Niobrara Stacked HZ Niobrara/ Codell 100 Side View Schaefer Pad Avg. 500 MBOE 300 MBOE 10 0 20 40 60 80 100 120 140 160 180 200…
  15. DUG: NIOBRARA – PDC Energy, Inc. – slide 15
    Analysis of Tighter Well Spacing Detailed Reservoir Engineering Points Towards 40-Acre Horizontal Well Density Engineering team using reservoir modeling to understand drainage areas Comparing model data to actual production and…
  16. DUG: NIOBRARA – PDC Energy, Inc. – slide 16
    Waste Management Pad Fall 2013 2N-64W-2 Map View N Side View 5/30/2013 17
  17. DUG: NIOBRARA – PDC Energy, Inc. – slide 17
    Wattenberg Project Inventory Proved HZ Inventory 2P HZ Inventory* 3P HZ Inventory* 4 Gross wells per 640 Ac. 10 Gross wells per 640 Ac. 16 Gross wells per 640 Ac. Gross HZ Inventory: 384 (8 Niobrara, 2 Codell) (12 Niobrara, 4…
  18. DUG: NIOBRARA – PDC Energy, Inc. – slide 18
    PDCs Wattenberg Development Summary Wattenberg Net Production Wattenberg Spuds 8,000 140 Oil NGLs Gas 120 6,000 100 MBoe 80 4,000 60 2,000 40 20 0 0 2011 2012 2013E 2014E 2011 2012 2013E 2014E Development CAPEX…
  19. DUG: NIOBRARA – PDC Energy, Inc. – slide 19
    PDCE Share Count Leverage to Core Wattenberg Acreage PDCE Most Leveraged To High Return/Low Risk Wattenberg Asset Amongst Acreage Holders 1 Core Wattenberg Acreage (Thousands of Acres) IRRs of US Onshore Basins 450 410 0% 10% 20% 30%…
  20. DUG: NIOBRARA – PDC Energy, Inc. – slide 20
    Contact Information Investor Relations Ron Wirth, Vice President Finance and Treasurer ron.wirthpdce.com Mike Edwards, Senior Director Investor Relations michael.edwardspdce.com Marti Dowling, Investor Relations Manager…

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