Skip to main content Q3 2015 Results – PDC Energy, Inc. Investor Presentation | Shale Experts
Loading...
Pm

Q3 2015 Results – PDC Energy, Inc.

PDC Energy, Inc. · Nov 5, 2015 · 24 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. Q3 2015 Results – PDC Energy, Inc. – slide 1
    November 5, 2015 2015 THIRD QUARTER RESULTS
  2. Q3 2015 Results – PDC Energy, Inc. – slide 2
    BART BROOKMAN President and Chief Executive Officer PAGE November 5, 2015 3
  3. Q3 2015 Results – PDC Energy, Inc. – slide 3
    Transformative Third Quarter 47,017 Boe/d (4.3MMBoe) total production 27% increase over Q2 2015 84% increase year-over-year 21,824 Bbls/d crude oil production (47% of total) Strong capital efficiencies Adj. cash flow from…
  4. Q3 2015 Results – PDC Energy, Inc. – slide 4
    Gysle Shellum Chief Financial Officer PAGE November 5, 2015 5
  5. Q3 2015 Results – PDC Energy, Inc. – slide 5
    Summary GAAP Financial Results (from continuing operations) In millions, except per share data Three Months Ended Nine Months Ended September 30, September 30, Measure 2015 2014 2015 2014 Total crude oil, natural gas and NGLs…
  6. Q3 2015 Results – PDC Energy, Inc. – slide 6
    Summary Non-GAAP Financial Results In millions, except per share data Three Months Ended Nine Months Ended September 30, September 30, Measure (1) 2015 2014 2015 2014 Adjusted net income (loss) (75.9) (5.7) (58.1) 2.4 Adjusted…
  7. Q3 2015 Results – PDC Energy, Inc. – slide 7
    Debt and Liquidity As of 9/30/15 115 million 3.25% convertible debt Debt Maturity Schedule (in millions) matures in May 2016 3.25% Convertible Notes due May 2016 1,000 Undrawn Revolver Fall redetermination: 700 million Drawn…
  8. Q3 2015 Results – PDC Energy, Inc. – slide 8
    Crude Oil and Natural Gas Hedges Summary Hedges in place as of September 30, 2015 plus hedges entered into prior to October 30, 2015 Oct Dec 69% of crude oil volumes at weighted average floor price of 88.99/Bbl 2015 70% of natural…
  9. Q3 2015 Results – PDC Energy, Inc. – slide 9
    SCOTT REASONER SVP Operations PAGE November 5, 2015 10
  10. Q3 2015 Results – PDC Energy, Inc. – slide 10
    Operational Overview From Continuing Operations Utica Utica Core Wattenberg Wattenberg Utica Q3 2015: 43,612 Boe/d Q3 2015: 3,405 Boe/d Q3 2014: 23,400 Boe/d Q3 2014: 2,168 Boe/d Total PDC Energy Q3 2015: 47,017 Boe/d…
  11. Q3 2015 Results – PDC Energy, Inc. – slide 11
    Production Summary From Continuing Operations Q3 2015 Highlights Production growth of 27% (Boe/d) compared to Q2 2015 and 84% compared to Q3 2014 Oil mix accounted for 47% of Q3 2015 production Production above internal estimates…
  12. Q3 2015 Results – PDC Energy, Inc. – slide 12
    Drilling and Completion Activity 2015 Gross Operated TIL Activity 9-Months 2015 Gross Project Counts Drilling Activity TIL Spuds Operated HZ 97 130 Wattenberg 93 130 Utica 4 0 Non Operated HZ (WI 22%) 26 40 Total Wells (Op and…
  13. Q3 2015 Results – PDC Energy, Inc. – slide 13
    2015 Capital Forecast MM 1H 2015 3Q 2015 2015 Capital Area Capital Capital Guidance Actuals Actuals Wattenberg 295 101 482-512 Utica 20 2 35 Other 2 1 3 Total 317 104 520-550 Capital spend in Q3 2015 lower than…
  14. Q3 2015 Results – PDC Energy, Inc. – slide 14
    Lease Operating Expense Per Boe (From Continuing Operations) 6.00 EH&S charge 5.46 5.00 4.00 3.00 4.36 2.00 3.71 3.70-3.90 2.87 1.00 0.00 FY'14 Q1'15 Q2'15 Q3'15 FY'15 Updated Guidance Q315 LOE per /Boe is down…
  15. Q3 2015 Results – PDC Energy, Inc. – slide 15
    Wattenberg Technical Development Progress Current Drilling Rig Location; All projects drilled on 16 wells per section equivalent unless otherwise noted Key Technical Updates: 47 Extended Reach Lateral Wells Currently Producing:…
  16. Q3 2015 Results – PDC Energy, Inc. – slide 16
    Wattenberg Early Chesnut Downspacing Results Early Downspacing Results - Chesnut (Sec. 28) Pad 1,000 Gross 2-Phase Daily Production (Boe/d) 100 Avg. Niobrara ERL Avg. Codell ERL Niobrara ERL Type Curve - 600 Mboe 10 1 31…
  17. Q3 2015 Results – PDC Energy, Inc. – slide 17
    Wattenberg Plug-n-Perf Performance Update 1,000 Dataset includes: Gross 2-Phase Daily Production per 8 Standard length PnP wells 8 Standard length Sliding Sleeve wells 1,000' of Lateral (Boe/d) 100 440 Mboe Middle Core…
  18. Q3 2015 Results – PDC Energy, Inc. – slide 18
    Wattenberg Midstream Update DCP Lucerne 2 Operational at the end of June Field-wide average pipeline pressures significantly lower compared to 2014 Increased field-wide capacity by 200 MMcf/d to 850 MMcf/d Current system…
  19. Q3 2015 Results – PDC Energy, Inc. – slide 19
    Utica Update Dynamite and Cole Pad Performance Dynamite and Cole 4-well pads both performing above 680 MBoe type curve after 150 days Updated completion design showing significant improvements in performance PAGE November…
  20. Q3 2015 Results – PDC Energy, Inc. – slide 20
    Operations Highlights PDC Company Highlights Wattenberg: Q315 net production of 43,612 Boe/d Operated production 90% of total Q315 Wattenberg volumes HZ wells 82% of operated production TIL 21 horizontal Niobrara wells in Q315…
  21. Q3 2015 Results – PDC Energy, Inc. – slide 21
    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,…
  22. Q3 2015 Results – PDC Energy, Inc. – slide 22
    Appendix PAGE November 5, 2015 23
  23. Q3 2015 Results – PDC Energy, Inc. – slide 23
    Reconciliation of Non-GAAP Financial Measures In millions, except per share data Three Months Ended Nine Months Ended Adjusted EBITDA from net income (loss): September 30, September 30, 2015 2014 2015 2014 Net income (loss) (41.5) 54.0…
  24. Q3 2015 Results – PDC Energy, Inc. – slide 24
    Reconciliation of Non-GAAP Financial Measures In millions, except per share data Three Months Ended Nine Months Ended Adjusted net income (loss) from net income (loss): September 30, September 30, 2015 2014 2015 2014 Net income…

From the store

Browse maps, data & reports in the Shale Experts store