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Johnson Rice 2017 Energy Conference – SRC Energy Inc

SRC Energy Inc · Sep 26, 2017 · 14 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. Johnson Rice 2017 Energy Conference – SRC Energy Inc – slide 1
    Johnson Rice Energy Conference September 2017 NYSE AMEX: SRCI
  2. Johnson Rice 2017 Energy Conference – SRC Energy Inc – slide 2
    Company Overview Proved Reserves (1) 100,000 93,352 PDP 90,000 60,000 net acres in the greater Wattenberg area 80,000 PUD 17,863 Proved Reserves MBoe Contiguous nature of acreage provides ability to 70,000 66,156 drill…
  3. Johnson Rice 2017 Energy Conference – SRC Energy Inc – slide 3
    Achieving Scale and Margin Expansion Per BOE Cash Cost 18 16.57 3.74 10.88 12.82 13 2.72 9.76 7.45 2.29 7.44 8 8.29 6.02 3.19 5.14 3 5.38 2.56 3.85 4.08 2.33 1.69 -1.26 -2 Q2 2016 Q3 2016 Q4 2016 Q1 2017 Q2 2017…
  4. Johnson Rice 2017 Energy Conference – SRC Energy Inc – slide 4
    Operating Structure Comparable to Top Performers 2Q 2017 Levered Cash Margins (1) 2Q 2017 Operating Costs / Boe (2) 75% 72% 7.94 65% 62% Average : 63% 6.96 62% 58% 6.77 Average : 6.21 6.12 6.41 47% 4.88 4.38 Peer 1 SRCI Peer…
  5. Johnson Rice 2017 Energy Conference – SRC Energy Inc – slide 5
    Peer Credit Benchmarking Net Debt / 2017E Production Net Debt / 2017E EBITDAX 20,990 2.1x 19,204 1.8x Average : 1.5x 14,303 1.4x Average: 1.4x 13,841 13,056 1.4x 1.2x 10,131 8,912 0.6x 4,010 Peer 2 Peer 3 Peer 5 Peer 1…
  6. Johnson Rice 2017 Energy Conference – SRC Energy Inc – slide 6
    Gas/Oil Ratio Map 1,100 gross remaining ML and LL drilling locations 2017 Development Plan Greeley Crescent Drill 36 (gross) LL laterals, 74 (gross) ML laterals and 6 (gross) SL laterals Development Complete 9 (gross) XL laterals,…
  7. Johnson Rice 2017 Energy Conference – SRC Energy Inc – slide 7
    Current D&C Operations Orr State Pad: 12 (11 Net) Falken Pad: 18 (12 Net) 12 Hood Pad: 12 (10 Net) ML ML wells LL wells & 6 SL wells Waiting on Leffler Pad: 12 (10 Net) Completion wells stimulating Early Orr Pad: 12 (11 Net) ML…
  8. Johnson Rice 2017 Energy Conference – SRC Energy Inc – slide 8
    Greeley Crescent Development Area Blended GC Well Economics Core Wattenberg Implied Full-Cycle NPV & IRR Blended GC Mid-Length Type Curve vs Bestway, Per Well at Various EUR and Acreage Cost Fagerberg & Evans Pads Assumptions 500…
  9. Johnson Rice 2017 Energy Conference – SRC Energy Inc – slide 9
    Midstream & Marketing DCP Midstream Gas Gathering & Processing Investments Phase 2 is in progress and aligns with SRC Energys development plan 200 MMcf/d of additional processing capacity is planned in H2 2018 Another 200…
  10. Johnson Rice 2017 Energy Conference – SRC Energy Inc – slide 10
    Corporate Summary Pure play with concentrated acreage position Maintaining a strong balance sheet June 30, 2017 total liquidity of 157 million Cash of 37 million 120 million available on revolver 2017 development plan to be funded…
  11. Johnson Rice 2017 Energy Conference – SRC Energy Inc – slide 11
    APPENDIX www.srcenergy.com 12
  12. Johnson Rice 2017 Energy Conference – SRC Energy Inc – slide 12
    Management Team Name Title Experience Lynn A. Peterson Chairman, President & CEO Former co-founder, President and CEO of Kodiak Oil & Gas, he has over 30 years of experience in executive management of oil and gas companies James P.…
  13. Johnson Rice 2017 Energy Conference – SRC Energy Inc – slide 13
    Hedging Summary as of September 2017 Crude Oil and Natural Gas Hedges Avg Monthly Collar Volumes Average Collar Prices (1) Oil Gas HH Gas CIG Oil Gas HH Gas CIG Month (Bbl) (MMBtu) (MMBtu) (Bbl) (MMBtu) (MMBtu) September 1 to…
  14. Johnson Rice 2017 Energy Conference – SRC Energy Inc – slide 14
    Adjusted EBITDA Reconciliation SRC ENERGY INC. RECONCILIATION OF NON-GAAP FINANCIAL MEASURES (unaudited, in thousands) Three months ended Six months ended 6/30/2017 6/30/2016 6/30/2017 6/30/2016 Adjusted EBITDA Net Income (loss)…

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