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Raymond James Event – SRC Energy Inc

SRC Energy Inc · Feb 5, 2018 · 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. Raymond James Event – SRC Energy Inc – slide 1
    February 2018 NYSE AMEX: SRCI
  2. Raymond James Event – SRC Energy Inc – slide 2
    Company Overview Net Acres 90,200 Gross Locations 1,700 Production (Boe/d) 42,878 Substantially all of the leasehold is held by production, providing SRC with flexibility and control over the pace of drilling Average operated…
  3. Raymond James Event – SRC Energy Inc – slide 3
    Company Overview 2018 Development Plan Proved Reserves 250,000 Drill and complete 116 wells with lateral lengths from 7,500- PDP 226,665 10,000 PUD 200,000 Proved Reserves MBoe D&C Capex of 480MM-540MM 87,350 Full-year…
  4. Raymond James Event – 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 6.02 6.17 3.19 5.14 2.71 3 5.38 2.56 3.85 4.08 2.29 2.33 1.69 1.17 -1.26 -2 Q2 2016 Q3 2016 Q4…
  5. Raymond James Event – SRC Energy Inc – slide 5
    Gas/Oil Ratio Map…
  6. Raymond James Event – SRC Energy Inc – slide 6
    Current D&C Operations Boomerang Pad: 16 (13 Falken Pad: 18 (12 Net) Leffler Pad: 12 (10 Net) Net) 12 ML wells & 4 LL 12 LL wells & 6 SL wells Waiting on Completion Early LL wells Drilling wells Ag Pad: 12 (9 Net) LL wells…
  7. Raymond James Event – 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. Raymond James Event – 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 plant with 200 MMcf/d of capacity is expected to be in…
  9. Raymond James Event – SRC Energy Inc – slide 9
    Gas Processing Capacity Expansions Plant Operator In-Service Capacity MMCFD Status 1 Mewbourn 3 - Pl. 10 DCP Mid Q3 2018 200 Permits received / approved. Cons truction in progres s 6 2 O'Connor - Pl. 11 DCP Late Q2 2019 200 Air…
  10. Raymond James Event – SRC Energy Inc – slide 10
    Corporate Summary Pure play with concentrated acreage position Maintaining a strong balance sheet Pro forma September 30, 2017 liquidity of over 400 million * 2018 development plan to be funded by existing liquidity and cash flows…
  11. Raymond James Event – SRC Energy Inc – slide 11
    APPENDIX www.srcenergy.com 12
  12. Raymond James Event – SRC Energy Inc – slide 12
    Hedging Summary as of January 2018 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) January 1 to December…
  13. Raymond James Event – SRC Energy Inc – slide 13
    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…
  14. Raymond James Event – SRC Energy Inc – slide 14
    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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