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June 2018 Corporate Presentation – SRC Energy Inc

SRC Energy Inc · Jun 1, 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. June 2018 Corporate Presentation – SRC Energy Inc – slide 1
    June 2018 NYSE American: SRCI
  2. June 2018 Corporate Presentation – SRC Energy Inc – slide 2
    Corporate Execution Net Daily Production (MBOE/D) (1) Growth of acreage footprint and drilling locations 52 with longer laterals is supportive of efficient 45 production and reserves growth 48 34 Effective management of capital…
  3. June 2018 Corporate 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. June 2018 Corporate Presentation – SRC Energy Inc – slide 4
    Midstream Infrastructure DCP Midstream Mewbourn 3 processing plant with 200 MMcf/d of 5 expanded capacity is expected to be in service Q3 2018 OConnor 2 with 200 MMcf/d of additional processing capacity plus 100 MMcf/d of bypass…
  5. June 2018 Corporate Presentation – SRC Energy Inc – slide 5
    Current D&C Operations Harvesters State Pad: 12 (11 Net) ML wells Falken Pad: 18 (17 Net) 12 LL Greeley Rothe Federal: 12 (8 wells & 6 SL wells Net) LL wells Waiting on Boomerang Pad: 16 (13 Completion Drilling Stimulation Net) 12…
  6. June 2018 Corporate 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. June 2018 Corporate 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. June 2018 Corporate 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. June 2018 Corporate 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. June 2018 Corporate 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. June 2018 Corporate Presentation – SRC Energy Inc – slide 11
    Appendix 12
  12. June 2018 Corporate Presentation – SRC Energy Inc – slide 12
    Hedging Summary as of May 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) May 1 to…
  13. June 2018 Corporate 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. June 2018 Corporate 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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