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Bank of America Merrill Lynch Energy Credit Conference – PDC Energy, Inc.

PDC Energy, Inc. · Jun 7, 2017 · 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. Bank of America Merrill Lynch Energy Credit Conference – PDC Energy, Inc. – slide 1
    BANK OF AMERICA MERRILL LYNCH ENERGY CREDIT CONFERENCE June 7, 2017
  2. Bank of America Merrill Lynch Energy Credit Conference – PDC Energy, Inc. – slide 2
    Where we are going
  3. Bank of America Merrill Lynch Energy Credit Conference – PDC Energy, Inc. – slide 3
    PDC Energy 2020 Vision Base Case 4/20/17 Base Case Range Production (MMBOE) Adj. Cash Flow (MM) 75 1,800 200 50 1,500 1,200 MBoe/d Exit Rate in 2020 900 1.5B+ 25 600 YE Rig Count (Watt./Del.) 300 4/3 5/5 5/6 5/7 0 0…
  4. Bank of America Merrill Lynch Energy Credit Conference – PDC Energy, Inc. – slide 4
    PDC Energy 2020 Vision Resilient Case 4/20/17 Resilient Case Range 21% 75 Production (MMBOE) 1,800 1,500 Adj. Cash Flow (MM) 4-Year Production CAGR 50 1,200 90% 25 YE Rig Count (Watt./Del.) 900 600 2020 Liquidity…
  5. Bank of America Merrill Lynch Energy Credit Conference – PDC Energy, Inc. – slide 5
    How we are going to get there
  6. Bank of America Merrill Lynch Energy Credit Conference – PDC Energy, Inc. – slide 6
    PDC Energy Premier Assets Provide Top-Tier Growth Core Wattenberg 3.3B Market Cap(1) 95,500 net acres 1,800 identified locations(2) 305 MMBoe proved reserves 4.4B Enterprise Value(1) Utica Shale Delaware Basin 62,500 net…
  7. Bank of America Merrill Lynch Energy Credit Conference – PDC Energy, Inc. – slide 7
    PDC Energy 2017 Capital Investment Program and Financial Guidance Capital Investment Details 2017e Capital Investments 2017e Capital Investment Anticipate capital investment program (millions) in the top half of range Wattenberg:…
  8. Bank of America Merrill Lynch Energy Credit Conference – PDC Energy, Inc. – slide 8
    PDC Energy Balance Sheet Strength and Liquidity As of March 31, 2017 Leverage and Liquidity 1,000 946 million liquidity Debt Maturity Schedule (millions) 258 million combined cash balance & short-term investments 750 Leverage…
  9. Bank of America Merrill Lynch Energy Credit Conference – PDC Energy, Inc. – slide 9
    Bond Trading History Notes due 2022 and 2024 PDC Senior Notes due 2022 and 2024 remain priced well above notes in similar tenor issued by peers Notes due 2022 Trading History Notes due 2024 Trading History Price Price 120 110 110…
  10. Bank of America Merrill Lynch Energy Credit Conference – PDC Energy, Inc. – slide 10
    Robust Hedge Position Insulates Capital Program Hedges in Place as of 3/31/17 Plus Hedges Entered Into prior to May 31, 2017 CRUDE OIL NATURAL GAS 2Q17 - 4Q17 2018 2Q17 - 4Q17 2018 Volumes (MMBbls) Volumes (BBtu) Collar 1.8 1.5…
  11. Bank of America Merrill Lynch Energy Credit Conference – PDC Energy, Inc. – slide 11
    Summary
  12. Bank of America Merrill Lynch Energy Credit Conference – PDC Energy, Inc. – slide 12
    PDC Energy Strategic Overview Strategic Overview Top-Tier Growth Profile 30+% 2,600 4-year Production CAGR Drilling Inventory Capital Efficient Drilling (2016-2020) Technical Innovations 2020 80+% Long-Term Weighted Avg.…
  13. Bank of America Merrill Lynch Energy Credit Conference – PDC Energy, Inc. – slide 13
    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,…
  14. Bank of America Merrill Lynch Energy Credit Conference – PDC Energy, Inc. – slide 14
    Reconciliation of Non-U.S. GAAP Financial Measures Three Months Ended Net income (loss) to adjusted EBITDAX March 31, 2017 2016 Net income (loss) 46.1 (71.5) Gain on commodity derivative instruments (80.7) (11.1) Net settlements…
  15. Bank of America Merrill Lynch Energy Credit Conference – PDC Energy, Inc. – slide 15
    Reconciliation of Non-U.S. GAAP Financial Measures Three Months Ended Net income (loss) to adjusted net income (loss) March 31, 2017 2016 Net income (loss) 46.1 (71.5) Gain on commodity derivative instruments (80.7) (11.1) Net…

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