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October 2015 Corporate Presentation – SRC Energy Inc

SRC Energy Inc · Oct 19, 2015 · 15 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. October 2015 Corporate Presentation – SRC Energy Inc – slide 1
    NYSE MKT: SYRG At Home In the Wattenberg Corporate Presentation October 2015
  2. October 2015 Corporate Presentation – SRC Energy Inc – slide 2
    Key Statistics Key Statistics by 4.2 M no means exhaustive. (08/31/15) e Avg. Daily Vol. (3 month) 1.7M affected by delays or cost overruns; costs of production; environmental Cash & Cash Equivalents (08/31/15) 134 M and other…
  3. October 2015 Corporate Presentation – SRC Energy Inc – slide 3
    Company Features Wattenberg Field Provides Stacked Pay Horizons Depth Core Targets Targeting 2.5-3M Completed Well Costs* Low Low Leverage Operating 6,500 Niobrara A Less Than 1X Costs LTM EBITDA 6,650 Niobrara B…
  4. October 2015 Corporate Presentation – SRC Energy Inc – slide 4
    Wattenberg Position & Offset Operators SYRG Has 89,000 Net Acres In The Greater Wattenberg Area (Approximately 90% Operated) Focus on Core Wattenberg Area 37,000 Net Acres NE Wattenberg Extension Area 52,000 Net Acres Synergy…
  5. October 2015 Corporate Presentation – SRC Energy Inc – slide 5
    Core Wattenberg Stacked Pay HZ Well Inventory 1,060 Total Horizontal Drilling Locations Estimated Aerial Extent of the Niobrara Benches & Codell Formations(1) Niobrara A Niobrara B HZ Drilling Locations Core Wattenberg 234…
  6. October 2015 Corporate Presentation – SRC Energy Inc – slide 6
    Core Wattenberg Operated HZ Wells 71 Operated horizontal wells drilled Colorado and completed on 10 pads 95% of fiscal 2016 capex focused on Core Wattenberg, primarily in the mid Wind Pad 8 Weideman Pad 4 to high gas to oil ratio…
  7. October 2015 Corporate Presentation – SRC Energy Inc – slide 7
    Wattenberg Midstream Lucerne 2 Plant, 200 MMcf/d capacity is online and has lowered line pressures in the northern section of the PHASE 1 Wattenberg Field Grand Parkway Phase 1 & 2 Lines Lucerne 2 Plant scheduled for Q1 2016 PHASE…
  8. October 2015 Corporate Presentation – SRC Energy Inc – slide 8
    Cash-on-Cash Payout Focus Return of Capital In 3 Years or Less is the Primary Objective Months Needed to Achieve Cash-on-Cash Payout (using 10/08/15 monthly strip) EUR 250 MBOE 350 MBOE 450 MBOE Well Cost Low GOR Mid GOR High GOR…
  9. October 2015 Corporate Presentation – SRC Energy Inc – slide 9
    NE Wattenberg Extension Area 52,000 Net Acres, Synergy has a 100% working interest. Red Tail Project Conrad well, a standard 4,300 foot horizontal well targeting the Greenhorn Formation has been drilled and completed, evaluation…
  10. October 2015 Corporate Presentation – SRC Energy Inc – slide 10
    Rapidly Growing Reserves and Production Compound Annual Increase in Proved Reserves and Production 12,000 Daily Net Production 11,000 est. 60,000 57 MMBoe * 10,000 8,725 Up 76% 45,000 8,000 Reserves MBoe BOEPD 32…
  11. October 2015 Corporate Presentation – SRC Energy Inc – slide 11
    Revenues and EBITDA Revenue & Adjusted EBITDA* 135 125 120 104 105 118 Average Realized Sales Price per Fiscal Year 90 Fiscal Years FY-13 FY-14 FY-15 75 MM 77 Oil (Bbls) 85.95 89.98 50.75 60 46 Gas & Liquids (Mcf)…
  12. October 2015 Corporate Presentation – SRC Energy Inc – slide 12
    Fiscal 8/31/16 Cash CAPEX Budget 115-135 Million* Balance Sheet and Cash Flow Supports Discretionary Operated Drilling Program Wattenberg Field Focused Operated Horizontal Wells Non-Operated Horizontal Wells 90 - 100 Million 10 - 15…
  13. October 2015 Corporate Presentation – SRC Energy Inc – slide 13
    Key Takeaways Target Rich Asset Acquisition Environment 2016 Operated Capital Expenditures Funded By Current Balance Sheet is Estimated Internally Net Cash Generated Cash Flow Low Interest Rate on Operational and Debt…
  14. October 2015 Corporate Presentation – SRC Energy Inc – slide 14
    Adjusted EBITDA Reconciliation SYNERGY RESOURCES CORPORATION RECONCILIATION OF NON-GAAP FINANCIAL MEASURES (unaudited, in thousands) Three Months Ended Nine Months Ended August 31, August 31, August 31, August 31, ADJUSTED EBITDA…
  15. October 2015 Corporate Presentation – SRC Energy Inc – slide 15
    Hedging Summary as of 10/15/15 Crude Oil and Natural Gas Hedges Collar Volumes Average Collar Prices (1) Oil Gas HH Gas CIG Oil Gas HH Gas CIG Month (Bbl) (MMBtu) (MMBtu) (Bbl) (MMBtu) (MMBtu) October 1 to December 31, 2015 -…

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