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1Q 2018 Earnings Presentation – SRC Energy Inc

SRC Energy Inc · May 2, 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. 1Q 2018 Earnings Presentation – SRC Energy Inc – slide 1
    May 2018 NYSE American: SRCI
  2. 1Q 2018 Earnings Presentation – SRC Energy Inc – slide 2
    Corporate Execution Net Daily Production (MBOE/D) (1) 60 52 50 45 Contiguous acreage provides ability to 40 48 34 drill longer laterals 30 Well understood hydrocarbon system 20 12 10 0 2016 2017 Q1 2018 2018 Est. D&C…
  3. 1Q 2018 Earnings Presentation – SRC Energy Inc – slide 3
    2018 Exploitation Program 2018 Guidance Total production of 48-52 Mboe/d D&C Capex of 480-540 MM 2018 operations funded by operating cash flow and existing liquidity Protect capital program by hedging 30%-50% of estimated…
  4. 1Q 2018 Earnings Presentation – SRC Energy Inc – slide 4
    Midstream Infrastructure 5 DCP Midstream Mewbourne processing plant with 200 MMcf/d of expanded capacity is expected to be in service Q3 2018 OConnor 2 with 200 MMcf/d of additional processing capacity is planned in the first half…
  5. 1Q 2018 Earnings Presentation – SRC Energy Inc – slide 5
    Current D&C Operations Harvesters State Pad: 12 Boomerang Pad: 16 (13 Waiting on Completion Falken Pad: 18 (17 Net) 12 Early Drilling (11 Net) ML wells Net) 12 ML wells & 4 LL Ag Pad: 12 (10 Net) LL Stimulation in Progress LL wells &…
  6. 1Q 2018 Earnings Presentation – SRC Energy Inc – slide 6
    Delivering Long-Term Shareholder Value Full-Cycle NPV & IRR Per Well Economics NPV (MM) Acreage Cost 600 MBOE 800 MBOE 1 MMBOE 20k/acre 2.5 3.5 4.7 15k/acre 2.7 3.9 4.9 IRR Acreage Cost 600 MBOE 800 MBOE 1 MMBOE 20k/acre 45%…
  7. 1Q 2018 Earnings Presentation – SRC Energy Inc – slide 7
    Operational and Financial Performance Commodity Mix (1) Cash Cost ( / Boe) (1) (2) Gas NGLs Oil Cash G&A Production Taxes LOE 9.89 32% 29% 36% 35% 33% 31% 31% 8.70 3.81 6.71 6.89 19% 18% 19% 6.54 6.56 21% 22% 20% 5.58 21% 5.27…
  8. 1Q 2018 Earnings Presentation – SRC Energy Inc – slide 8
    Reserves Report Summary Ryder Scott Reserves YE 2017 (1) Proved Reserves by Category Proved Reserves by Commodity Pre-tax PV-10 by Category (2) NGL 28% OIL 31% PDP 33% 227 227 PUD 43% 1.8 B PDP 49% MMBoe MMBoe PUD 62% PDNP…
  9. 1Q 2018 Earnings Presentation – SRC Energy Inc – slide 9
    Health, Safety and the Environment SRCs highest priority Engaged at multiple levels Front Range Emergency Response Committee COGA Operational Safety, Urban Operations, HSE Committees Rocky Mountain HSE Peer Group DJ Basin Safety…
  10. 1Q 2018 Earnings Presentation – SRC Energy Inc – slide 10
    Pure Play with Contiguous and Concentrated Acreage Position 2018 operations funded by cash flow and existing liquidity Multi-year inventory of high return wells Capital investment flexibility Expanding infrastructure Strong balance…
  11. 1Q 2018 Earnings Presentation – SRC Energy Inc – slide 11
    Appendix 12
  12. 1Q 2018 Earnings Presentation – SRC Energy Inc – slide 12
    Hedging Summary as of March 2018 Crude Oil, Natural Gas, and NGL Hedges Avg Monthly Collar Volumes Average Collar Prices (1) Oil Gas CIG Propane Oil Gas CIG Propane Month (Bbl) (MMBtu) (Gallons) (Bbl) (MMBtu) (Gallons) March 1 to…
  13. 1Q 2018 Earnings Presentation – SRC Energy Inc – slide 13
    Adjusted EBITDA Reconciliation SRC ENERGY INC. RECONCILIATION OF NON-GAAP FINANCIAL MEASURES (unaudited, in thousands) Three months ended 3/31/2018 3/31/2017 Adjusted EBITDA Net Income (loss) 65,796 19,880 Add back:…
  14. 1Q 2018 Earnings Presentation – SRC Energy Inc – slide 14
    PV-10 Reconciliation SRC ENERGY INC. RECONCILIATION OF NON-GAAP FINANCIAL MEASURES (unaudited, in thousands) 12/31/2017 12/31/2016 12/31/2015 Standardized measure of discounted future net cash flows: Add: 10 percent annual…

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