Brean Capital E&P Best Ideas Conference Investor Presentation November 6, 2013 NYSE: PVA
Current Geographic Footprint Emerging Oil and LiquidsRich Plays Plus Optionality in Significant Gas Plays Eagle Ford and Other Regions Appalachian Region MidContinent Cotton Valley Marcellus/Other YE12 proved reserves: 12.5 MMBOE…
Overview of the Eagle Ford Shale Eastern Volatile Oil and Condensate Rich Gas Windows(1) Volatile Oil Condensate Rich Gas EFS Operators Gonzales PVA BHP San Antonio CHK Wilson COG Bexar COP Lavaca CRK CRZO Atascosa EOG…
Overview of PVAs Eagle Ford Shale Position Emerging Presence in Leading U.S. Oil Shale Play 107,100 gross (67,000 net) acres in Gonzales and Lavaca Counties, TX Gonzales Operator of 93,800 (60,500 net) acres 64% WI Nonoperator of…
Eagle Ford Shale Operational Update Recent Eagle Ford Shale Well Activity and Results BongoNorthHunter 3WellPad IP3,342BOE/D Stag/PlatypusHunter 3WellPad IP6,100BOE/D GonzoHunter 3WellPad RecentlyAdded IP1,847BOE/D…
Positive Trend in Recent Eagle Ford Shale Well Results Wellhead Volumes, Excluding NGL Recoveries On both an absolute basis and a per frac stage basis, we have seen an increase in our wells average initial production rates over the…
Improving Capital Efficiencies, Bigger Wells and Pads Eagle Ford Shale Well Costs and Drilling/Completion Times Our well costs have decreased over time and are expected to decline further In addition to reduced stimulation costs,…
Growing Our Eagle Ford Shale Position Net Acreage and Well Locations Growth in Net Acreage and Drilling Locations 100 1,000 Successful Downspacing 90 900 80 800 Recent Leasing Thousands of Net Acres 70 700 Drilling…
Growing Our Eagle Ford Shale Position Producing Wells 9
Growing Our Eagle Ford Shale Position Net Daily Production 10
Growing Our Eagle Ford Shale Position Net Proved Reserves 11
Capital Spending Program 2013 Capital Spending Focused on Eagle Ford Drilling Fullyear 2013 capital expenditures expected to be approximately 515MM Six operated rigs through YE13, then five operated rigs One nonoperated rig 2013…
Eagle Ford Shale Drilling Inventory Drilling Inventory Due to both acquisitions and leasing efforts over the past two years, our acreage position is now 107,100 gross (67,000 net) acres primarily in the volatile oil window(1) We…
Eagle Ford Shale Operating Margins High Cash Operating Margin Play 14
Hedging Strategy Protect Cash Flow Maintain an active hedging program to help support capital spending program and ensure strong coverage metrics Hedges in place to protect cash flow Oil hedging is currently 79% of expected 4Q13…
Investment Highlights Excellent and sizeable position in the volatile oil window of the Eagle Ford Shale Tremendous investment leverage to this leading oil resource play Approximately 170 MMBOE of pro forma 3P reserves in the Eagle…
Appendix
Capitalization and Credit Statistics As of and for the Three and Twelve Months Ended September 30, 2013 Capitalization ( in millions) 9/30/13 Cash and cash equivalents 38.3 Debt Revolving credit facility 128.0 7.25% senior…
NonGAAP Reconciliation Year ended December 31, LTM 2008 2009 2010 2011 2012 3Q13 Adjusted EBITDAX dollars in millions Net income (loss) from continuing operations 93.6 (130.9) (65.3) (132.9) (104.6) (195.2) Add: Income tax…
Penn Virginia Corporation 4 Radnor Corporate Center, Suite 200 Radnor, PA 19087 6106878900 www.pennvirginia.com
Loading...
