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2Q 2017 Earnings Update – Penn Virginia Corp

Penn Virginia Corp · Aug 9, 2017 · 10 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. 2Q 2017 Earnings Update – Penn Virginia Corp – slide 1
    Second Quarter 2017 Earnings Presentation Investor Presentation August 9, 2017 November Nasdaq Ticker: 2016 PVAC
  2. 2Q 2017 Earnings Update – Penn Virginia Corp – slide 2
    Penn Virginia Today Second Quarter 2017 Highlights Strong Operating Performance Exceeded guidance with production of 10,159 BOEPD (74% crude oil), an increase of 8% over Q1 2017 Lager 3H (in Area 2) well continues to exceed the type…
  3. 2Q 2017 Earnings Update – Penn Virginia Corp – slide 3
    Devon Eagle Ford Acquisition Increases Core Leasehold Position and Production By Approximately 30% Transaction Summary 205 MM acquisition of Devon Energy Corporations Eagle Ford assets located primarily in Lavaca County, TX Target…
  4. 2Q 2017 Earnings Update – Penn Virginia Corp – slide 4
    Acreage Map & Recent Well Results(1) Strong well results especially Lager 3H and Zebra pad Fayette County Kudu Unit Axis Unit 9H: IP 2,005 BOE/D 1H: IP 1,740 BOE/D 8H: IP 1,188 BOE/D 2H: IP 1,795 BOE/D 7H: IP 1,284 BOE/D 3H: IP…
  5. 2Q 2017 Earnings Update – Penn Virginia Corp – slide 5
    Preliminary 2018 Plan of Development Fayette County One rig in Area 1 Drill: 22-25 gross wells Gonzales County Working interest: 45-55% One rig in Area 2 Start in North and PVAC legacy acreage Expand into South…
  6. 2Q 2017 Earnings Update – Penn Virginia Corp – slide 6
    Q2 2017 Financial Overview (in thousands) Three Months Three Months Ended Ended June 30, March 31, Highlights (compared to Q1 2017) 2017 2017 Revenues Crude oil 32,351 30,073 Natural gas liquids (NGLs) 2,043 2,302 Total product…
  7. 2Q 2017 Earnings Update – Penn Virginia Corp – slide 7
    Transaction Financing and Pro Forma Liquidity Quarter-end liquidity of 172 MM Pro Forma Liquidity of 132 MM - Current liquidity of 158MM - 47 MM drawn on credit facility, 200.0 (37.0)(2) (0.8)(2) 10.1(2) (40.0)(1) 132.3 6 MM in…
  8. 2Q 2017 Earnings Update – Penn Virginia Corp – slide 8
    Updated Guidance The table below sets forth current operational guidance for the full year 2017 and 2018 and production guidance for Q3 2017. Guidance assumes closing the acquisition on September 30, 2017: 2017 2018 Production…
  9. 2Q 2017 Earnings Update – Penn Virginia Corp – slide 9
    Oil Hedge Positions 5,000 48.59 49.37 4,500 4,000 Barrels Per Day 3,500 49.75 3,000 2,500 2,000 1,500 1,000 500 0 2017 2018 2019 Oil Volumes Average Swap Price (Barrels Per Day) ( Per Barrel) 2017 (remaining)…
  10. 2Q 2017 Earnings Update – Penn Virginia Corp – slide 10
    Non-GAAP Reconciliation Adjusted EBITDAX PENN VIRGINIA CORPORATION CERTAIN NON-GAAP FINANCIAL MEASURES - unaudited (in thousands) Successor Successor Predecessor Successor Predecessor Three Months Three Months Three Months Six…

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