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APRIL 2013 CORPORATE PRESENTATION – SRC Energy Inc

SRC Energy Inc · Apr 16, 2013 · 22 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. APRIL 2013 CORPORATE PRESENTATION – SRC Energy Inc – slide 1
    Corporate Presentation NYSE MKT: SYRG April 2013
  2. APRIL 2013 CORPORATE PRESENTATION – SRC Energy Inc – slide 2
    Key Executives & Board Members NYSE MKT: SYRG Management has owned/operated 300+ DJ Basin Wells over last 30+ Years Edward Holloway William Scaff, Jr. Frank Jennings George Seward President & CEO Vice President, Director Chief…
  3. APRIL 2013 CORPORATE PRESENTATION – SRC Energy Inc – slide 3
    Operational Highlights NYSE MKT: SYRG Rapidly Growing Average daily BOE production increased 90% in the quarter ended February Production 28, 2013 vs. February 29, 2012. Concentration in High concentration of horizontal and…
  4. APRIL 2013 CORPORATE PRESENTATION – SRC Energy Inc – slide 4
    Our Leased Acreage * NYSE MKT: SYRG Area 1 All of our current wells both vertical and 2 Northern DJ Basin horizontal are in the oil and 19,400 net (high liquids) highliquids portion of the Wattenberg Field…
  5. APRIL 2013 CORPORATE PRESENTATION – SRC Energy Inc – slide 5
    Strengths of the Wattenberg Field NYSE MKT: SYRG Wattenberg Overview Wattenberg Acreage (16,000 net acres) Wattenberg Field is highly defined by over 17,000 vertical wells drilled since the 1970s Synergy has successfully completed…
  6. APRIL 2013 CORPORATE PRESENTATION – SRC Energy Inc – slide 6
    134 Vertical / Directional Wells Drilled in Wattenberg Field NYSE MKT: SYRG 134 Drilled Drilling Activity Production Activity Formations Niobrara A 5 producing Niobraraonly wells (119 wells in Niobrara behind pipe) Niobrara B…
  7. APRIL 2013 CORPORATE PRESENTATION – SRC Energy Inc – slide 7
    Horizontal & Directional Drilling Expands Opportunity NYSE MKT: SYRG Advent of pad drilling & new technologies Horizontal & Directional Drilling Allows Multiple has led to: Wells on a Single PAD that Reach Multiple Zones Improved…
  8. APRIL 2013 CORPORATE PRESENTATION – SRC Energy Inc – slide 8
    Wattenberg Field Horizontal Potential NYSE MKT: SYRG Wattenberg Horizontal Potential Per 640 Acre Unit, Arial View Niobrara B Bench Only Niobrara B Bench Perimeter Stacked HZ Niobrara/Codell Proved HZ Well Density Potential HZ…
  9. APRIL 2013 CORPORATE PRESENTATION – SRC Energy Inc – slide 9
    Mississippian & Pennsylvanian Plays Moving North NYSE MKT: SYRG S. Dakota Powder River Basin Kennedy Basin Iowa Wyoming Current Pennsylvanian Test Wells Banner Laramie Central Kansas Kimball Cheyenne Basin Deuel…
  10. APRIL 2013 CORPORATE PRESENTATION – SRC Energy Inc – slide 10
    Nebraska Acreage Multiple Stacked Play NYSE MKT: SYRG 118,484 net acres in Nebraska that is highly prospective for Upper Multiple Stacked Play Pennsylvanian, Cherokee and Mississippian Lime Type Log Historical production from…
  11. APRIL 2013 CORPORATE PRESENTATION – SRC Energy Inc – slide 11
    1P Reserve Growth by Year (PV10) NYSE MKT: SYRG Total 1P PV10 160M 148.8 Million 140M 120M 100M PDP 80M PDNP PUD 60M 78% of PV10 40M value is 20M currently oil weighted 0M 8/31/10 8/31/11 8/31/12 BOEs 1.4M BOEs…
  12. APRIL 2013 CORPORATE PRESENTATION – SRC Energy Inc – slide 12
    Revenue Growth Per Quarter NYSE MKT: SYRG Revenue Mix 12M (MRQ) 10M 8M Oil 78% 6M Oil 4M 2M NGL 7% NGL Gas 15% 0M Gas 3Q May11 4Q Aug11 1Q Nov11 2Q Feb12 3Q May12 4Q Aug12 1Q Nov12 2Q Feb13 Average Sales Price per…
  13. APRIL 2013 CORPORATE PRESENTATION – SRC Energy Inc – slide 13
    Key Stats: SYRG (NYSE MKT) NYSE MKT: SYRG Stock Price (4/9/13) 7.23 Revenue (ttm) 33.5 M Revenue & Adjusted EBITDA ( Millions) 52 Week High/Low 7.782.40 Net Income (ttm) 9.3 M Revenues Adj. EBITDA 33.5M Shares Outstanding 55.2 M EPS…
  14. APRIL 2013 CORPORATE PRESENTATION – SRC Energy Inc – slide 14
    Key Takeaways NYSE MKT: SYRG Synergy is pursing a welldefined plan for creating shareholder value: Continue to expand acreage footprint through leases and acquisitions Implement aggressive drilling program in proven lowrisk…
  15. APRIL 2013 CORPORATE PRESENTATION – SRC Energy Inc – slide 15
    NYSE MKT: SYRG Appendix
  16. APRIL 2013 CORPORATE PRESENTATION – SRC Energy Inc – slide 16
    Wattenberg Field Acreage & Activity NYSE MKT: SYRG Wattenberg Acreage (16,000 net acres) & Activity Map Weld County, CO PDC Leffler Noble Wake Well (BBench) Currently completing 2 Codell Synergy 25% Working Interest horizontal…
  17. APRIL 2013 CORPORATE PRESENTATION – SRC Energy Inc – slide 17
    Northern DJ Basin Extension Overview NYSE MKT: SYRG Northern Extension Acreage & Activity Synergy Northern Extension Area Overview 19,400 Net Acres Synergy has 19,400 net acres in Morgan & Weld, County EOG, Whiting & Continental…
  18. APRIL 2013 CORPORATE PRESENTATION – SRC Energy Inc – slide 18
    Capitalization NYSE MKT: SYRG Shares Outstanding: 55.2 million Warrants Outstanding: 9.0 mm 6, expiring on 12/31/14 0.36 mm Avg 1.60, expiring on 12/31/14 .05 mm 2.69 investor relations warrants Management and Employee Options…
  19. APRIL 2013 CORPORATE PRESENTATION – SRC Energy Inc – slide 19
    2013 CAPEX Budget NYSE MKT: SYRG Total CAPEX Budget of 82 million ( = completed activity) 15 million to drill 27 new vertical wells as operator 30 million cash for acquisition of Orr Energy* 17 million to drill 4 new horizontal…
  20. APRIL 2013 CORPORATE PRESENTATION – SRC Energy Inc – slide 20
    Hedging Summary NYSE MKT: SYRG The Companys commodity derivative contracts as of February 28, 2013 are summarized below: Quantity Strike Price Contract Type Basis (1) (Bbl/month) (/Bbl) Term Collar NYMEX 3,014 87.00 - 102.50 Mar 1,…
  21. APRIL 2013 CORPORATE PRESENTATION – SRC Energy Inc – slide 21
    Board of Directors NYSE MKT: SYRG Edward Holloway Bill Conrad Synergy Resources President & CEO Independent director since May 2005 Director since June 2008 Former President of Wyoming Oil & Gas 30+ years of Oil and Gas Executive…
  22. APRIL 2013 CORPORATE PRESENTATION – SRC Energy Inc – slide 22
    SellSide Research Coverage NYSE MKT: SYRG Firm Analyst Brean Capital Jeff Connolly Cannacord Genuity Stephen Berman C.K. Cooper & Co. Jeff Grampp Energy Equities David Snow Euro Pacific Equities Joel Musante, CFA Global Hunter…

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