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Capital One Securities 12th Annual Energy Conference – SRC Energy Inc

SRC Energy Inc · Dec 6, 2017 · 13 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. Capital One Securities 12th Annual Energy Conference – SRC Energy Inc – slide 1
    Capital One Securities 12th Annual Energy Conference December 2017 NYSE AMEX: SRCI
  2. Capital One Securities 12th Annual Energy Conference – SRC Energy Inc – slide 2
    Pro Forma Company Overview SRC Energy GCII SRC Energy Standalone Acquisition Pro Forma Net Acres 60,000 30,200 90,200 Gross 1,100 600 1,700 Locations(1) Production 40,378 2,500 42,878 (Boe/d) GCII Acquisition overview:…
  3. Capital One Securities 12th Annual Energy Conference – SRC Energy Inc – slide 3
    Company Overview Proved Reserves (1) 180,000 90,200 net acres in the Wattenberg area PDP 162,204 160,000 PUD Contiguous nature of acreage provides ability to 140,000 Proved Reserves MBoe drill longer laterals with enhanced…
  4. Capital One Securities 12th Annual Energy Conference – SRC Energy Inc – slide 4
    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 6.40 6.02 3.19 5.14 2.71 3 5.38 2.56 2.29 3.85 4.08 2.33 1.69 1.40 -1.26 -2 Q2 2016 Q3 2016 Q4…
  5. Capital One Securities 12th Annual Energy Conference – SRC Energy Inc – slide 5
    Gas/Oil Ratio Map Gas-Oil-Ratio (GOR) similar to current leasehold…
  6. Capital One Securities 12th Annual Energy Conference – SRC Energy Inc – slide 6
    Current D&C Operations Goetzel Pad: 12 (10 Net) Beebe Pad: 12 (9 Net) ML ML wells Waiting on Ag Pad: 12 (9 Net) LL Completion Leffler Pad: 12 (10 Net) LL Early wells Drilling wells Falken Pad: 18 (12 Net) 12 Stimulation in Progress…
  7. Capital One Securities 12th Annual Energy Conference – SRC Energy Inc – slide 7
    Greeley Crescent Development Area Blended GC Well Economics Core Wattenberg Implied Full-Cycle NPV & IRR Blended GC Mid-Length Type Curve vs SRC Per Well at Various EUR and Acreage Cost Operated Horizontal Production Assumptions…
  8. Capital One Securities 12th Annual Energy Conference – SRC Energy Inc – slide 8
    Well Established Midstream DCP Midstream Gas Gathering & Processing Investments Grand Parkway Phase 2 extends south through heart of new footprint New Mewbourne processing Connection to Grand Mesa plant with 200 MMcf/d of…
  9. Capital One Securities 12th Annual Energy Conference – SRC Energy Inc – slide 9
    Corporate Summary Pure play with concentrated acreage position Maintaining a strong balance sheet Pro forma September 30, 2017 liquidity of over 400 million * 2017 development plan to be funded by existing liquidity Flexibility to…
  10. Capital One Securities 12th Annual Energy Conference – SRC Energy Inc – slide 10
    APPENDIX www.srcenergy.com 11
  11. Capital One Securities 12th Annual Energy Conference – SRC Energy Inc – slide 11
    Hedging Summary as of December 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) December 1 to…
  12. Capital One Securities 12th Annual Energy Conference – SRC Energy Inc – slide 12
    Adjusted EBITDA Reconciliation SRC ENERGY INC. RECONCILIATION OF NON-GAAP FINANCIAL MEASURES (unaudited, in thousands) Three months ended Nine months ended 9/30/2017 9/30/2016 9/30/2017 9/30/2016 Adjusted EBITDA Net Income…
  13. Capital One Securities 12th Annual Energy Conference – SRC Energy Inc – slide 13
    PV-10 Reconciliation 9/30/2017 12/31/2016 12/31/2015 Standardized measure of discounted future net cash flows: 1,137,950 434,261 390,953 Add: 10 percent annual discount, net of income taxes 809,884 427,587 408,939 Add: future…

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