Barclays CEO EnergyPower Conference Investor Presentation September 34, 2014 NYSE: PVA
Penn Virginia Today Eagle Ford Shale Will Drive Continued Growth Contiguous and highquality acreage position in the Eagle Ford Approximately 101,800 net acres with over 1,600 potential identified drilling locations; approximately…
Operating Areas As of and for the Quarter Ended June 30, 2014 Total Company Granite Wash/MidContinent YE13 Proved Reserves: 10.6 MMBOE 80% Developed YE13 Pro Forma Proved Reserves(1) 2Q14 Production: 1.8 MBOEPD 122.1 MMBOE 37%…
Strategy Focused on Eight drilling rigs in 2H14, 107 (64.5 net) TILs in 2014(1) Operational Execution and Further Goal: continue to increase acreage position in our backyard Expansion in the Eagle Ford Delivering high levels of…
PVA is an Eagle Ford Oil Growth Story We have significantly 20142015 Historical and Estimated Production Growth(1) increased oil production over the last few years, Pro Forma Daily Production by Quarter and 2015 and we expect that…
Overview of PVAs Eagle Ford Position Emerging Presence in Leading U.S. Oil Shale Play 142,500 gross (101,800 net) acres Gonzales Avg. IP/30day rates of 1,490/943 BOEPD for the last 82/68 wells in the Peach Creek, Rock Creek, Bozka…
Growing Our Eagle Ford Position Increases in Production, Revenues and Reserves 7
PVA's Concentrated Position in the Eagle Ford Over 100,000 Net Acres in the Core of the Eagle Ford(1) Acreage / Recent Well Results Fayette Peach Creek Gonzales Rock Creek / Bozka Wombat Unit Shiner 1H : IP 1,670 BOEPD Shallow /…
Upper Eagle Ford / Marl Upside Currently have 600 Located in the eastern portion of our Lavaca County acreage position Upper Eagle Ford (Marl) Shale Drilling Potential of the Upper Eagle Ford has expanded to the east and west with…
Upper EF Performance Substantiates Development Plan to spud 19 and TIL 14 (12.3 net) Upper Eagle Ford wells in 2H14 2014 Upper Eagle Ford Tests Upper Eagle Ford Shale Aligned Days of Production 100 Welhausen A2H 26 frac stages 90…
Eagle Ford Drilling Inventory Inventory of Drilling Locations Increasing Due to Leasing and Downspacing Due to acquisitions and leasing efforts, our acreage position currently stands at 142,500 gross (101,800 net) acres We have an…
2H14 Work Program Focused on Best Areas Initial Production per Area 58 Gross TILs 3 11 8 14 22 2H14: 2,000 80 Initial Production per stage (BOEPD/stage) 1,750 70 Initial Production (BOEPD) 1,500 60 1,250 50 1,000…
Well Costs per Stage are Declining Annual Trend in Average Well Costs per Frac Stage 800 700 600 K per Frac Stage 500 400 300 200 100 0 2011 2012 2013 1H14 14 Notes Excludes shallow wells.
Gross Production Actuals vs. TypeCurves Average Production per Frac Stage of Recent Wells vs. YE13 External and Internal Type Curves Normalizing production for number of frac stages, the last 55 wells in Peach Creek have a tight fit…
Eagle Ford Well Economics Pretax IRR Sensitivities Excellent Returns in Primary Development Areas Peach Creek Field Shiner Field Assumes 28 frac stages Assumes 27 frac stages 367 MBOE EUR type curve(1); 86% oil, 8% NGLs(2) 484 MBOE…
Financial Strategy Focus on a Strong Balance Sheet and Value Creation Maintain at Least Pro forma 2Q14 liquidity of 625 MM 150 MM of Reflects net proceeds from recent asset sales and arbitration settlement, net of Financial…
Capitalization and Credit Stats Improving Credit Statistics and Liquidity Asset Sales/ Market Acquisition Pro Forma Capitalization ( millions) 6/30/14 Adjustments Adjustments 6/30/14 Cash 25 162 187 Debt Credit Facility 55 (55)…
Company Highlights Premier Eagle Ford 101,800 net acres in the Eagle Ford with 12 years of drilling inventory Position Continued acreage growth through organic leasing and bolton acquisitions Beginning to delineate Upper Eagle…
Appendix 20
Overview of the Eagle Ford Eastern Volatile Oil and Condensate Rich Gas Windows(1) Volatile Oil Higher GOR Oil EFS Operators Gonzales PVA BHP San Antonio CHK Wilson COG Bexar COP Lavaca CRK CRZO Atascosa DVN DeWitt EOG…
Detailed Analysis of EFS Wells by Location Wells TIL Since 4/1/13 Excludes NonOperated and Shallow Wells Initial Potential BOEPD/ Casing Oil Oil Gas Equiv Stage BOEPDPS % Pressure Gravity Location (BOPD) (MCFD) (BOEPD) (BOEPDPS)…
Detailed Analysis of EFS Wells by Location Wells TIL Since 4/1/13 Excludes NonOperated and Shallow Wells Gross Net WI Location Wells Wells (%) Shiner Beer Quad (Mod. GOR) 17 8.0 47% Shiner Upper Eagle Ford (Marl) 2 1.9 94%…
Internal Well Economics Pretax IRR Sensitivities Superior Returns in Peach Creek and Shiner Peach Creek Field Shiner Field Assumes 28 frac stages Assumes 27 frac stages 520 MBOE EUR type curve(1); 86% oil, 8% NGLs(2) 680 MBOE EUR type…
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 Latest oil hedges: 12,500 BOPD (82% of est.…
FullYear and SecondHalf 2014 Guidance 2H14 2014 Guidance 1Q14 2Q14 1H14 Low High Low High Production: Crude oil (MBbls) 1,076 1,119 2,195 2,685 2,915 4,880 5,110 NGLs (MBbls) 227 261 488 625 685 1,113 1,173 Natural gas (MMcf)…
Derivatives Current Derivative Positions as of 9/2/14 Weighted Average Price Instrument Type Average Volume Per Day Floor/ Swap Ceiling Natural gas: (MMBtu) ( / MMBtu) ( / MMBtu) Third quarter 2014 Swaps 15,000 4.10 Fourth quarter…
Adjusted EBITDAX Reconciliation NonGAAP Reconciliation Year ended December 31, LTM 2009 2010 2011 2012 2013 2Q14 Adjusted EBITDAX dollars in millions Net income (loss) from continuing operations (130.9) (65.3) (132.9) (104.6)…
Loading...
