EnerCom The Oil & Gas Conference Investor Presentation August 16, 2017 November Nasdaq Ticker: 2016 PVAC
Penn Virginia Corporation - Company Overview Focused Eagle Ford Shale Producer Financial & Operational Profile Independent E&P company with primary focus in volatile oil window of Eagle Ford Exchange: Ticker NASDAQ: PVAC shale Share…
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 type…
Acreage Map & Recent Well Results(1) Strong Well Results, Including Recent 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:…
Encouraging Well Results Support 2017 Drilling Objectives Recent results outperforming type curves by more than 25% Results on Lager 3H in Area 2 are very encouraging 24-hour IP of 2,511 BOEPD(1) (77% oil) at 4,371 PSI on 20/64 choke…
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…
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…
Transaction and Asset Highlights Capitalizes on Strong Recent Well Results and Adds Drilling Inventory Expands PVACs core leasehold position by 34%, or 19,600 net acres (90% held by production), which includes 42 drilling units…
Devon North & South Areas North Area Type Curve(1) South Area Type Curve(1) North Area Assumptions(1) South Area Assumptions(1) Well Costs 7.7 million Well Costs 8.0 million Frac Stages 42 Frac Stages 42 Average Lateral Length…
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 Drill: 15 gross wells Working interest: 60-98% Start in North…
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…
Why Penn Virginia Strong Multi-Year Inventory of High Rate of Return Drilling Locations Key Highlights Attractive and growing asset base in core of the Eagle Ford Consistent operational execution and strong production growth…
Q&A In Breakout Room
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…
Non-GAAP Reconciliation - PV-10 PENN VIRGINIA CORPORATION CERTAIN NON-GAAP FINANCIAL MEASURES - unaudited (in thousands) Successor Predecessor December 31, December 31, 2016 2015 Reconciliation of GAAP Standardized Measure of…
PV-10 at Strip Pricing Monthly Strip Pricing at December 31, 2016 The Company used the posted monthly closing prices for NYMEX WTI oil through December 2029, and for NYMEX Henry Hub natural gas through December 2022 in the…
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