Barclays CEO Power Conference – SRC Energy Inc

SRC Energy Inc · Sep 6, 2017 · 14 slides

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Barclays CEO Energy-Power Conference Presentation September 2017 NYSE AMEX: SRCI
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…
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…
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…
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…
Gas/Oil Ratio Map 1,100 gross ML and LL drilling locations Greeley Crescent 2017 Development Plan Development Area Drill 36 (gross) LL laterals, 74 (gross) ML laterals and 6 (gross) SL laterals Complete 9 (gross) XL laterals, 24…
Current D&C Operations Falken Pad: 18 (12 Net) 12 Leffler Pad: 12 (10 Net) Hood Pad: 12 (10 Net) ML Orr State Pad: 12 (11 Net) LL wells & 6 SL wells LL wells wells stimulating ML wells Waiting on Completion Early Drilling…
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…
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…
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…
APPENDIX www.srcenergy.com 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.…
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…
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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