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SUNTRUST APPALACHIAN MINI CONFERENCE – PDC Energy, Inc.

PDC Energy, Inc. · Jul 9, 2015 · 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. SUNTRUST APPALACHIAN MINI CONFERENCE – PDC Energy, Inc. – slide 1
    July 9, 2015 SUNTRUST APPALACHIAN MINI-CONFERENCE
  2. SUNTRUST APPALACHIAN MINI CONFERENCE – PDC Energy, Inc. – slide 2
    PDC Energy High Quality Assets Company Highlights Core Wattenberg Market Cap: 2.0 Billion(1) Enterprise Value: 2.5 Billion(1) YE 2014 proved reserves 250 MMBoe 64% liquids, 30% proved developed Stress tested to 50/Bbl only 9%…
  3. SUNTRUST APPALACHIAN MINI CONFERENCE – PDC Energy, Inc. – slide 3
    2015 Executing on Value Added Growth Q1 15: 32,162 Boe/d (2.9MMBoe) total production; wellpositioned to meet fullyear guidance 15% quarterly growth rate over Q4 14 (28,060 Boe/d, 2.6MMBoe) Q1 15: 14,519 Bbls/d crude oil production…
  4. SUNTRUST APPALACHIAN MINI CONFERENCE – PDC Energy, Inc. – slide 4
    UTICA OPERATIONS Geology Overview PAGE July 9, 2015 5
  5. SUNTRUST APPALACHIAN MINI CONFERENCE – PDC Energy, Inc. – slide 5
    Utica: Local Stratigraphy review of nomenclature. Southern Ohio 1. Queenston Shale Classic Mudstone Null TOC & low resistivity 2. Upper Utica Shale Mudstone with null limestone content Some TOC & low resistivity High clay…
  6. SUNTRUST APPALACHIAN MINI CONFERENCE – PDC Energy, Inc. – slide 6
    Utica Open Hole Log Response; Comparison SW to NE Palmer Onega Commissioners Hickenbottom A Morgan County Guernsey County Belmont County A Utica Pt. Pleasant Trenton Resistivity (ohmm) 800 2,000 1,000 2,000+ 1,000 2,000+…
  7. SUNTRUST APPALACHIAN MINI CONFERENCE – PDC Energy, Inc. – slide 7
    Why We Are Active Where We Are Key vertical well Specifically, why the South and Washington County Historical Data Well drilled in 1994 for deeper target that was wet Patricia Hein Well Northern Washington County, Ohio Wet Gas…
  8. SUNTRUST APPALACHIAN MINI CONFERENCE – PDC Energy, Inc. – slide 8
    Why We Are Active Where We Are 2D Seismic Specifically, why the South Seismic Data Seismic data confirms Patricia Hein Well the presence of numerous faults over Southern portion of the play Natural fracturing and higher…
  9. SUNTRUST APPALACHIAN MINI CONFERENCE – PDC Energy, Inc. – slide 9
    Why We Are Active Where We Are 3D Seismic Specifically, why the South Seismic Data Linear features are faults/fractures in Point Pleasant Image Courtesy of TGS PAGE July 9, 2015 10
  10. SUNTRUST APPALACHIAN MINI CONFERENCE – PDC Energy, Inc. – slide 10
    The Southern Point Pleasant and Natural Fractures Highly pressured open natural fractures are pervasive and filled with hydrocarbons.. MHR Farley well: significant PDC Palmer Pad: well control challenges due Mechanical issue while…
  11. SUNTRUST APPALACHIAN MINI CONFERENCE – PDC Energy, Inc. – slide 11
    Summary & Conclusions The Southern portion of the play, particularly northern Washington County, is more structurally complex (naturally fractured) than more Northern portions of the play in Guernsey County This is evident…
  12. SUNTRUST APPALACHIAN MINI CONFERENCE – PDC Energy, Inc. – slide 12
    UTICA OPERATIONS Drilling & Production PAGE July 9, 2015 13
  13. SUNTRUST APPALACHIAN MINI CONFERENCE – PDC Energy, Inc. – slide 13
    Utica Position Summary 680 MBoe Condensate Window(1) Net Acres: 67,000 % HBP: 50% Producing Hz Wells: 19 Potential Hz Locations: 220 2015 Est. Capital: 35MM 1,200 MBoe WetGas Window(1) PAGE (1) Production data…
  14. SUNTRUST APPALACHIAN MINI CONFERENCE – PDC Energy, Inc. – slide 14
    Utica - Lowering Costs & Improving Returns Optimize Lateral Lengths 2014 Cost Structure Flowback Management 9.4 10…
  15. SUNTRUST APPALACHIAN MINI CONFERENCE – PDC Energy, Inc. – slide 15
    Dynamite Wells Continue to Impress As of March 15, 2015; Average Dynamite Lateral Length of 5,500 Appx. 15% above type curve Dynamite performance tracking above 680 MBoe type curve after 90 days Updated completion design…
  16. SUNTRUST APPALACHIAN MINI CONFERENCE – PDC Energy, Inc. – slide 16
    Utica Gas Gathering Summary Two Primary Long-Term Processing Contracts MarkWest (MWE) PDC volumes flow to Seneca Plant Access to all major NGL takeaway projects in the northeast region MWE has current capacity of 1.1 Bcf/d…
  17. SUNTRUST APPALACHIAN MINI CONFERENCE – PDC Energy, Inc. – slide 17
    Maximizing Utica Gas Netbacks Challenging Price Environment for at Least the Next Couple Years Key Updates for Utica Pricing PDC Gas Realizations vs. Utica Indices PDC utilizing excess pipeline capacity to reach premium Chicago &…
  18. SUNTRUST APPALACHIAN MINI CONFERENCE – PDC Energy, Inc. – slide 18
    Investor Relations Mike Edwards, Senior Director Investor Relations michael.edwardspdce.com Kyle Sourk, Manager Investor Relations kyle.sourkpdce.com Corporate Headquarters PDC Energy, Inc. 1775 Sherman Street Suite 3000 Denver,…
  19. SUNTRUST APPALACHIAN MINI CONFERENCE – PDC Energy, Inc. – slide 19
    Summary GAAP Financial Results (from continuing operations) In millions, except per share data Three Months Ended March 31, Measure 2015 2014 Total crude oil, natural gas and NGLs sales 74.1 120.0 Production costs 24.2 18.1…
  20. SUNTRUST APPALACHIAN MINI CONFERENCE – PDC Energy, Inc. – slide 20
    Summary Non-GAAP Financial Results In millions, except per share data Three Months Ended March 31, (1) Measure 2015 2014 Adjusted net income 7.0 9.6 Adjusted net income per diluted share 0.19 0.27 Adjusted cash flows from…
  21. SUNTRUST APPALACHIAN MINI CONFERENCE – PDC Energy, Inc. – slide 21
    Reconciliation of Non-GAAP Financial Measures In millions, except per share data Three Months Ended March31 Adjusted EBITDA from net income (loss): 2015 2014 Net income (loss) 17.1 (2.1) (Gain) loss on commodity derivative…
  22. SUNTRUST APPALACHIAN MINI CONFERENCE – PDC Energy, Inc. – slide 22
    Reconciliation of Non-GAAP Financial Measures In millions, except per share data Three Months Ended March31 Adjusted net income (loss) from net income (loss): 2015 2014 Net income (loss) 17.1 (2.1) (Gain) loss on commodity…

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