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FEBRUARY 2015 INVESTOR PRESENTATION – Pacific Energy Development

Pacific Energy Development · Feb 24, 2015 · 25 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. FEBRUARY 2015 INVESTOR PRESENTATION – Pacific Energy Development – slide 1
    PEDEVCO CORP. (PACIFIC ENERGY DEVELOPMENT) NYSE MKT: PED Investor Presentation February 24, 2015
  2. FEBRUARY 2015 INVESTOR PRESENTATION – Pacific Energy Development – slide 2
    TRANSACTION SUMMARY On February 24, 2015, the Company announced three major transactions that strengthen and position the Company for long-term success and growth Acquired approximately 13,000 net D-J Basin D-J Basin Asset acres and…
  3. FEBRUARY 2015 INVESTOR PRESENTATION – Pacific Energy Development – slide 3
    SUMMARY Overview A dynamic energy company focusing on high-growth, early cash flow energy projects Focus Shale and conventional oil and gas in the U.S. Ticker NYSE MKT: PED Capital Structure 35.3mm in Secured Promissory Notes 15% due…
  4. FEBRUARY 2015 INVESTOR PRESENTATION – Pacific Energy Development – slide 4
    OIL FIELD ASSET IN THE U.S. Focus on the Denver-Julesburg Basin (D-J Basin) D-J Basin Asset 27,000 net acres predominantly in Weld County, Colorado 53 producing wells (including 22 after-payout wells) Operate 14 gross (13 net)…
  5. FEBRUARY 2015 INVESTOR PRESENTATION – Pacific Energy Development – slide 5
    A HISTORY OF CONTINUOUS GROWTH NYSE LISTING 2015 JAN 2013 SEP Announced IP of 3 Loomis Wells (avg. of 617 BOEPD) FOUNDED PUBLIC LISTING (NYSE MKT: PED) 2011 FEB 2012 JUL Founded as private company Became a public company 2015…
  6. FEBRUARY 2015 INVESTOR PRESENTATION – Pacific Energy Development – slide 6
    BOARD OF DIRECTORS Frank Ingriselli Chairman and CEO of Pacific Energy Development (NYSE: PED) Chairman, CEO Founder and former President and CEO of CAMAC Energy President of Texaco International President of Texaco Technology…
  7. FEBRUARY 2015 INVESTOR PRESENTATION – Pacific Energy Development – slide 7
    COMPANY STRATEGY Acquire assets in prime locations March 2014 acquired 14,000 net acres and 40 producing wells in Colorados Wattenberg and Wattenberg Extension from Continental Resources February 2015 acquired additional 13,000 net…
  8. FEBRUARY 2015 INVESTOR PRESENTATION – Pacific Energy Development – slide 8
    D-J BASIN ASSET ACQUISITION In Feb 2015, acquired approximately 13,000 Deal Highlights net D-J Basin acres and interests in 53 gross wells producing approximately 500 boepd Reduces debt by 53% per share Increases the Companys equity…
  9. FEBRUARY 2015 INVESTOR PRESENTATION – Pacific Energy Development – slide 9
    DIVESTITURE OF LEGACY NON-CORE ACREAGE Assets Divested Assets Divested In Feb 2015, sold approximately 2,300 net non-core acres, including Condor Subsidiary for 4.7mm(1) Weld Sold 20% interest in Condor Energy County Wattenberg…
  10. FEBRUARY 2015 INVESTOR PRESENTATION – Pacific Energy Development – slide 10
    PRE- / POST-TRANSACTION HIGHLIGHTS Comparison of Company before and after the D-J Basin Asset Acquisition and Divestiture of Legacy Non-Core Acreage Pre-transactions Post-transactions Net Acres 16,500 27,000 Producing Wells 58 /…
  11. FEBRUARY 2015 INVESTOR PRESENTATION – Pacific Energy Development – slide 11
    PLANNED ACQUISITION OF DOME ENERGY Heads of Agreement whereby Company will acquire 100% of Domes U.S. assets (Feb 2015) Produces 1,250 net boepd from conventional assets (primarily gas; core operated assets in TX and WY) Combined…
  12. FEBRUARY 2015 INVESTOR PRESENTATION – Pacific Energy Development – slide 12
    INVESTMENT HIGHLIGHTS 100% of PEDs total U.S. leasehold in the D-J Basin Significant Position in Low Break-even price of 40-60 per barrel WTI (min. of 15% IRR) Cost, High Return Basin D-J Basin generates among highest IRRs in U.S. shale…
  13. FEBRUARY 2015 INVESTOR PRESENTATION – Pacific Energy Development – slide 13
    D-J BASIN AMONG LOWEST COST BASINS IN U.S. Breakeven oil prices by basin to achieve 15% IRR *Source: Bloomberg LP and Wells Fargo Securities, LLC Research October 2014 16 Copyright (c) 2015 PEDEVCO Corp.
  14. FEBRUARY 2015 INVESTOR PRESENTATION – Pacific Energy Development – slide 14
    OIL-WEIGHTED BASIN WITH HIGH IRRs Assumes 55 oil / 3 gas *Source: Bloomberg LP and Wells Fargo Securities, LLC Research January 2015 17 Copyright (c) 2015 PEDEVCO Corp.
  15. FEBRUARY 2015 INVESTOR PRESENTATION – Pacific Energy Development – slide 15
    D-J BASINS WELD COUNTY REMAINS RESILIENT Rig Count indexed since June 14 (WTI 52-week high of 107.95) Rig Count Comparison 48 rigs in the D-J Basin; 45 rigs 120% 1,200 located in Weld County where PEDEVCO leases acreage Indexed…
  16. FEBRUARY 2015 INVESTOR PRESENTATION – Pacific Energy Development – slide 16
    PEDS PRIME LOCATION Acreage in the heart of Wattenberg, Wattenberg Extension & Colorado Mineral Belt Weld County Greeley 4 wells 3 wells 1 well Morgan County 19 Copyright (c) 2015 PEDEVCO Corp.
  17. FEBRUARY 2015 INVESTOR PRESENTATION – Pacific Energy Development – slide 17
    WATTENBERG CORE AND EXTENSION Strong returns vs. peers reported returns at all oil prices 70% Ticker (EUR Mboe)(1) 60% 50% PED (630)(2) 40% Peer 2 IRR 30% Peer 1 (420) (433)(3) Peer 3 20% (825)(2) Peer 4 10% (313)…
  18. FEBRUARY 2015 INVESTOR PRESENTATION – Pacific Energy Development – slide 18
    OPPORTUNITIES AT CURRENT OIL PRICES PEDEVCO is focused on operated locations in the Wattenberg Core at current oil prices Pooled and spaced 1,280 acre operated drilling unit with permits to drill up to 16 wells (mix of Niobrara &…
  19. FEBRUARY 2015 INVESTOR PRESENTATION – Pacific Energy Development – slide 19
    DOWNSPACING POTENTIAL OF D-J BASIN Downspacing (more wells per section) and stacked pay (multiple zones) offers potential increase in recovery factors on the D-J Basin play Recovery Factors Stacked Pay Down- Zones Spacing…
  20. FEBRUARY 2015 INVESTOR PRESENTATION – Pacific Energy Development – slide 20
    ANNOUNCED DOWNSPACING PROGRAMS Neighboring operators are testing downspacing potential of D-J Basin with success Operator of wells testing per section Bill Barrett 32 wells per section Bonanza Creek 32 wells per section Carrizo 16…
  21. FEBRUARY 2015 INVESTOR PRESENTATION – Pacific Energy Development – slide 21
    STRONG OPERATOR WITH RECENT SUCCESS Loomis Pad (7N60W section 2) Weld (Initial Production Announced Jan 15) Wells 2-1H 2-3H 2-6H Boepd IP 681 581 590 30-day Boepd 381 301 390 NRI 80% 80% 80% Net 30-day Greeley 305 241 312…
  22. FEBRUARY 2015 INVESTOR PRESENTATION – Pacific Energy Development – slide 22
    IMPROVING INFRASTRUCTURE ACCESS Anticipate further reduction in differential & LOE costs as infrastructure access increases 10 miles Rail Capacity by YE 2015 from PED acreage DJ Lateral (90 Mb/d) Q2 2015 Pipeline Capacity by…
  23. FEBRUARY 2015 INVESTOR PRESENTATION – Pacific Energy Development – slide 23
    RECENT TRANSACTIONS IN D-J BASIN PED consistently demonstrates ability to acquire and divest assets at attractive valuations 4 wells Acquisition Acquisition Divestiture Date Oct 2014 May 2014 Mar 2014 Feb 2015 Feb 2015…
  24. FEBRUARY 2015 INVESTOR PRESENTATION – Pacific Energy Development – slide 24
    CONCLUSION PED is uniquely positioned to develop its assets in the D-J Basin, one of the fastest growing, lowest cost shale plays in the U.S. Management acted decisively to significantly increase the size of the Company, monetize…
  25. FEBRUARY 2015 INVESTOR PRESENTATION – Pacific Energy Development – slide 25
    CONTACT INFORMATION CORPORATE HEADQUARTERS 4125 Blackhawk Plaza Circle, Suite 201 Danville, CA 94506 Tel: 855-PEDEVCO / 925-271-9314 contactpacificenergydevelopment.com Corporate website: www.PacificEnergyDevelopment.com…

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