Credit Suisse Private Energy Conference New York, NY June 14, 2017 1
PennEnergy Resources is a Premier Operator located in the core of the Marcellus Shale in Southwest PA LARGE CONSOLIDATED CORE POSITION IN SOUTHWEST PA 83,000 Gross (77,500 Net) acres as of May 31, 2017 34,300 Gross/Net wet gas acres…
PennEnergy Resources is backed by EnCap Investments and Wells Fargo PennEnergy Resources was formed in July 2011 by Rich Weber and Greg Muse, formerly President and Senior Vice President of Marcellus Shale Operations, respectively,…
PennEnergy Resources employs one the most skilled and experienced teams in the Appalachian Basin Core team of World-Class professionals with over 400 years of combined industry experience; last decade focused on shale development Rich…
PER projects strong financial results in both its E&P and Midstream business segments PennEnergy Resources, LLC Pine Run Midstream, LLC PennEnergy Resources Confidential 6 RESULTS PER is Optimistic about the…
GEOLOGY & RESERVOIR Industry well results define the core PER production and reserves on-par Southwest PA Core Bcfe/1,000 with the best of Southwest PA Evaluation Parameters Derived from Decline Curve Analysis of over 2,400 Marcellus…
GEOLOGY & RESERVOIR Marcellus Acreage in High Net Pay, GIP, & Right Structural/Depth Setting Cross-section highlighting high porosity net pay Marcellus across PER acreage High TOCs & Porosity (hot colors) in the Marcellus extend…
GEOLOGY & RESERVOIR Upper Devonian Southwest PA Core Play PER Acreage in High Net Pay, GIP, & Right Structural/Depth Setting Cross-section highlighting high porosity net pay Upper Devonian across PER acreage High TOCs & Porosity…
GEOLOGY & RESERVOIR Southwest PA Production Decline/EUR Analysis PER Among Top Performers in Southwest PA Core Dry Gas Area Recent Activity BCFE/1,000 3.00 250 2.76 2.50 200 Operator Avg. Bcfe/1,000 2.53 2.52 2.30…
GEOLOGY & RESERVOIR Southwest PA Production Decline/EUR Analysis PER Among Top Performers in Southwest PA Core Wet Gas Area Recent Activity BCFE/1,000 3.00 250 Operator Avg. Bcfe/1,000 2.50 2.71 200 2.45 2.35 2.00…
GEOLOGY & RESERVOIR Cumulative Production Comparison PERs wells match or outperform production in both North & South of Pittsburgh Wet Gas Cumulative Mcfe/1,000 Dry Gas Cumulative Mcf/1,000 3000 SOUTH NORTH PennEnergy 3500 SOUTH NORTH…
GEOLOGY & RESERVOIR Substantial Resource Potential Sustainable Annual Reserve Growth Year End 2016 Proved Reserves by Wright & Company of 1.4 Tcfe (330 Bcfe of PDP; 1.05 Tcfe of PUD) PER Marcellus & Upper Devonian Type Curves validated…
GEOLOGY & RESERVOIR Very Strong Economics Attractive Returns in All Asset Areas Economic Assumptions 7000 lateral IRR % 6 Wells/pad All-In Capital 891/lat. ft. Wet Gas 933/lat. ft. Dry Gas Fixed Gas Assumes WTI 55.00/bbl NGL…
LAND PER Acreage Positioned for Rapid, Economic Development 82,000 Acres of Core Consolidated Leasehold & Growing West JV PennEnergy has Drilling Title Opinion on every tract 25 acres and at least a full mineral ownership report on…
MARKET & MIDSTREAM PER has Created Significant Market Optionality for Both Natural Gas and NGLs PER Market Optionality Good & Getting Better Mix of core wet gas and dry gas project areas enables PennEnergy to optimize its capital…
Growing pipeline take-away shrinking Northeast basis differentials; could be as low as .20-30 discount to NYMEX index price Over 26 Bcf/d of incremental pipeline capacity in the Northeast in scheduled to come on line by the end of…
Growth in Northeast natural gas production forecasted far below projected growth in takeaway capacity in the region Approximately 6-8 Bcf/d of incremental production expected in the Northeast through 2020 - Nearly all Northeast…
INVESTMENT HIGHLIGHTS 112,000 effective net acres consolidated in the Core of the Southwest PA Marcellus play Top Tier well performance- average existing wells generating greater than 2.7 Bcfe per 1,000 feet of lateral 1.4 Tcfe of…
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