November 2015 Corporate Presentation – SRC Energy Inc
SRC Energy Inc ·
Nov 20, 2015 · 17 slides
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Slides
NYSEMKT:SYRG AtHomeIntheWa-enberg CorporatePresenta6onNovember2015
ForwardLookingStatements&KeySta5s5cs This presenta6on contains forward-looking statements, within the meaning ofthePrivateSecuri6esLi6ga6onReformActof1995.Theuseofwordssuch KeyStatistics as believes, expects, an6cipates, intends, plans,…
CompanyFeatures Wattenberg Field Provides Stacked Pay Horizons Depth Core Targets Focuson Completed Welland Opera5ngCosts Greenhorn Explora5onin NEWaSenberg LowLeverage 6,500 Niobrara A AreaUnderway 6,650 Niobrara B…
WaSenbergPlayers SYRGHas93,000NetAcresInTheGreaterWaSenbergArea(85%ofCurrentProduc5on Operated) Focus on Core Wattenberg Area 41,000 Net Acres NE Wattenberg Extension Area 52,000 Net Acres SynergyLeasehold…
WaSenbergFieldHorizontalStackedPay ExtensiveInventoryofPoten6alHorizontalDrillingLoca6ons Estimated Aerial Extent of the Niobrara Benches & Codell Formations(1) Niobrara A Niobrara B HZ Drilling Locations Core Wattenberg 255…
CoreWaSenbergOperatedHZWells 71Operatedhorizontalwellsdrilled Colorado andcompletedon10pads WeidemanPad4 95%ofscal2016capexfocusedon standardlength and4extended CoreWahenberg,primarilyinthemid lengthwells WindPad8…
WaSenbergMidstream Lucerne2Plant,200MMcf/dcapacity isonlineandhasloweredlinepressures inthenorthernsec6onofthe PHASE 1 WahenbergField GrandParkwayPhase1&2Lines Lucerne 2 Plant scheduledforQ12016 PHASE 2 PHASE 3…
TrackRecordofImprovingOpera5ngEciency DrillingDays CompletedWellCosts 13-15 days 4.4MM 9-11 days 3.6MM 7-9 days 5-7 2.75MM days 2.5MM 12months 6months Current 2016E 12months 6months 3months 2016E ago ago ago(1) ago…
Cash-on-CashPayoutFocus 2016DrillingProgramIncludesMoreMidandExtendedReachWells WellType WellCost(1) EUR(2) IRR%(3) Payout(3) PV-10 StandardLength 2.50mm 350mboe 22% 38months 0.63mm Mid-Length 3.50mm 550mboe 29% 32months 1.73mm…
RapidlyGrowingReservesandProduc5on CompoundAnnualIncreaseinProduc6on 12,000 DailyNetProduc5on 60,000 57 MMBoe * 11,000est. 10,000 50,000 Up76% 8,725 ReservesMMBoe 8,000 40,000 BOEPD 32 MMBoe 6,000 30,000 Up133%…
RevenuesandEBITDA Revenue&AdjustedEBITDA* 135 125 120 104 AverageRealizedSalesPrice 105 118+ perFiscalYear 90 FiscalYears FY-13 FY-14 FY-15 75 MM 60 77 Oil(Bbls) 85.95 89.98 50.75 46 45 Gas&Liquids(Mcf) 4.75 5.21 3.39…
Fiscal8/31/16CashCAPEXBudget115-135Million* BalanceSheetandCashFlowSupportsDiscre6onaryOperatedDrillingProgram Wattenberg Field Focused Operated Horizontal Wells Non-Operated Horizontal Wells 90 - 100 Million 10 - 15 Million…
KeyTakeaways TargetRichAsset Acquisi6onEnvironment 2016OperatedCAPEX FundedByCashand CurrentBalanceSheetis Es6matedInternally NetCash GeneratedCashFlow LowInterestRateon Opera6onaland Debt(2.5%) FinancialFlexibility 13
NEWaSenbergExtensionArea 52,000NetAcres,Synergyhasa100%working interest. Red Tail Project Conradwell,astandard4,300foothorizontalwell targe6ngtheGreenhornForma6onhasbeendrilled andcompleted,evalua6onunderway. Tightholestatus. East…
ManagementTeam ExperiencedinManagingandMone5zingWaSenbergFieldAssets EdwardHolloway,co-CEO 33yearsasanexecu6veofoilandgascompaniesfocusedontheWahenbergFieldintheD-JBasin…
AdjustedEBITDAReconcilia5on SYNERGYRESOURCESCORPORATION RECONCILIATIONOFNON-GAAPFINANCIALMEASURES (unaudited,inthousands) ThreeMonthsEnded TwelveMonthsEnded August31, August31, August31, August31, ADJUSTEDEBITDA 2015 2014 2015…
HedgingSummaryasof10/15/15 CrudeOilandNaturalGasHedges CollarVolumes AverageCollarPrices(1) Oil GasHH GasCIG Oil GasHH GasCIG Month (Bbl) (MMBtu) (MMBtu) (Bbl) (MMBtu) (MMBtu) October1toDecember31,2015 - 216,000 300,000 4.15-4.49…
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