First Quarter 2017 Investor Update Investor Presentation May 10, 2017 November 2016 NASDAQ: PVAC
Penn Virginia Today Focused Eagle Ford Producer Strong Q1 2017 Operating and Financial Performance Exceeded guidance with Q1 2017 production of 9,495 BOEPD, or 855 MBOE (71% crude oil) Recently turned 4-well Kudu pad to sales; PVACs…
Recent Well Results Comparable to On-Trend and Down-Dip Wells1 Fayette County Kudu Unit Axis Unit 6H : IP 1,411 BOE/D 1H : IP 1,740 BOE/D 7H : IP 1,284 BOE/D 2H : IP 1,795 BOE/D 8H : IP 1,188 BOE/D 3H : IP 2,806 BOE/D 9H : IP…
Encouraging Well Results Support 2017 Drilling Objectives Kudu pad results in line with PVAC type curve expectations Axis and Sable continue to perform as expected Early indications on Lager 3H in Area 2 are very encouraging…
Attractive Eagle Ford Type Curve and Economics Approximately 50% Estimated Rate of Return at 50/barrel WTI Oil Price Area 1 Lower Eagle Ford Type Curve1 Well Economics Have Improved Substantially 300 1,000 Daily Oil Production (BOPD)…
Financial Review
Q1 2017 Financial Overview ( thousands) Three Months Three Months Ended Ended Highlights (compared to Q4 2016) March 31, December 31, 2017 2016 Revenues Crude oil 30,073 27,649 7.4% increase in total product revenue Natural gas…
Simple Capital Structure - Ample Liquidity Highlights 96.9 Million of Liquidity as of May 5, 2017 Credit facility is only debt 128.0 35.0 30 million drawn at 3/31/17 128 million borrowing base 96.9 0.8 4.7 200 million credit…
Delivering Production Growth through 2018 2017 and 2018 Guidance Key Highlights 2017 and 2018 guidance are unchanged Strong growth in second half of 2017 with super pad expected to come online in early Q3 2017 Projecting 20% to…
Substantial Portion of Oil Production is Hedged Oil Hedges Swap portfolio has provided downside protection Mark to market at first quarter end was a net liability of 8.7 million Natural gas and NGL volumes are unhedged Oil Hedge…
Attractive Asset Base in the Core of the Eagle Ford Strong Multi-year Inventory of High Rate of Return Drilling Locations Consistent operational execution Excellent Assets Strong financial performance Demonstrated Solid…
Appendix
Non-GAAP Reconciliation Adjusted EBITDAX Successor Successor Predecessor Three Months Three Months Three Months Ended Ended Ended (in thousands) March 31, December 31, March 31, 2017 2016 2016 Reconciliation of GAAP Net income…
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