Skip to main content August 2018 Enercom Conference – PDC Energy, Inc. Investor Presentation | Shale Experts
Loading...
Pm

August 2018 Enercom Conference – PDC Energy, Inc.

PDC Energy, Inc. · Aug 20, 2018 · 30 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. August 2018 Enercom Conference – PDC Energy, Inc. – slide 1
    ENERCOMS THE OIL AND GAS CONFERENCE August 20, 2018
  2. August 2018 Enercom Conference – PDC Energy, Inc. – slide 2
    PDC ENERGY Strategic Overview Returns Results Responsibility 40-42 135 2018e Production Dec. 18e Exit Rate Strong Returns on inventory 1,950 gross (MMBoe) (Mboe/d) locations in the Core Wattenberg and Delaware basins 75 - 1.3x…
  3. August 2018 Enercom Conference – PDC Energy, Inc. – slide 3
    PDC ENERGY Company Overview 3.6B Market Cap(1) 4.8B Enterprise Value(1) Core Wattenberg Delaware Basin 453 100,000 net acres(3) 55,000 net acres 1,500 identified locations(3) 450 identified locations(4) YE17 Proved…
  4. August 2018 Enercom Conference – PDC Energy, Inc. – slide 4
    PDC ENERGY Track Record of Delivering Value Proven track record of value-added growth Production (MMBoe) 35+% 3-year production CAGR 50 40 Remain focused on balance sheet strength 30 40% decrease in debt per flowing Boe 20…
  5. August 2018 Enercom Conference – PDC Energy, Inc. – slide 5
    PDC ENERGY Portfolio Value Creation MRL Equivalent Inventory Breakdown Robust inventory of 10-15 years at current development pace (1,950 total locations) Entire portfolio delivers strong economic results (2) Weighted-average…
  6. August 2018 Enercom Conference – PDC Energy, Inc. – slide 6
    FINANCIAL GUIDANCE Updated Full-Year Guidance 2018 Guidance LOE/Boe 4.00 Production: 40 42MMBoe 3.00 - 3.15 Capital Investments: 950 - 985MM 3.00 2018e 2.00 Price Realizations (% NYMEX) (ex. TGP) Commodity Mix Oil: 91 95% 1.00…
  7. August 2018 Enercom Conference – PDC Energy, Inc. – slide 7
    PDC ENERGY Updated Capital Investment Summary Original Well Cost Overview Guidance 850 - 920 = Midpoint Wattenberg Increased 35 Drilling efficiencies lead to increased spud count WI Expect 150 165 spuds (up from 135 150)…
  8. August 2018 Enercom Conference – PDC Energy, Inc. – slide 8
    PDC ENERGY Overview of Financial Strength As of June 30, 2018 Leverage and Liquidity YE18e Debt Maturity Schedule 1,000 Leverage ratio of 1.6x (millions) 680 million liquidity 20 drawn on revolver Undrawn Anticipate exiting 2018…
  9. August 2018 Enercom Conference – PDC Energy, Inc. – slide 9
    PDC ENERGY Corporate Social Responsibility SAFE OPERATIONS EMPLOYEES MATTER COMMUNITY OUTREACH August 2018 10
  10. August 2018 Enercom Conference – PDC Energy, Inc. – slide 10
    2020 OUTLOOK Anticipate Strong Growth & Free Cash Flow Generation . Steady-state 6 Rig Scenario Production and Leverage Ratio Outlook 80 4.0x Production (6 Rig Scenario) Capital efficient production growth Leverage Ratio 3-Year…
  11. August 2018 Enercom Conference – PDC Energy, Inc. – slide 11
    ASSET OVERVIEW
  12. August 2018 Enercom Conference – PDC Energy, Inc. – slide 12
    CORE WATTENBERG Prolific Asset in Development Mode 100,000 Net Acres(1) 2Q18 Results 78,300 Boe/d 1,500 Horizontal Locations(2) 43 Spuds 48 TILs 3.29 LOE/Boe 351 YE17 Proved Reserves (MMBoe) (1) Niobrara and Codell…
  13. August 2018 Enercom Conference – PDC Energy, Inc. – slide 13
    CORE WATTENBERG 2018 Activity Focused on Capital Efficient Development Plan to invest 525 - 540 million in 2018 1H18 investment of 280 million Expect to spud 150 165 wells and TIL 145 160 wells in 2018 78 1H18 spuds and 77 1H18…
  14. August 2018 Enercom Conference – PDC Energy, Inc. – slide 14
    CORE WATTENBERG Addl Productivity Benefits of Consolidated Acreage Modified completion design enhances ability to access additional resource Completing through the bend and drilling to edge of lease boundary enable additional 1,000 of…
  15. August 2018 Enercom Conference – PDC Energy, Inc. – slide 15
    CORE WATTENBERG Production Unbundled with Midstream Expansions DCP Midstream (75% of 2018e gas volumes) Plant 10 (Mewbourne 3): In-service August 1, 2018(1) Increases system throughput 200 MMcf/d or 25% Anticipate maintaining current…
  16. August 2018 Enercom Conference – PDC Energy, Inc. – slide 16
    DELAWARE BASIN Primary Focus in Two Oil-Rich Areas 55,000 Net Acres 2Q18 Results 24,800 Boe/d 450 Block 4 & North Central 6 Spuds MRL Equivalent Locations(1) 5 TILs 3.92 LOE/Boe 98 YE17 Proved Reserves (MMBoe) (1)…
  17. August 2018 Enercom Conference – PDC Energy, Inc. – slide 17
    DELAWARE BASIN Focused on Continued Execution Delaware Production (Boe/d) 30,000 Anticipate 2018 capital investments of 425 - 445MM 1H18 investment of 230 million 25,000 80% allocated to spud and TIL 25 30 operated wells 25,000…
  18. August 2018 Enercom Conference – PDC Energy, Inc. – slide 18
    DELAWARE BASIN Prolific Results Continue in Block 4 Block 4 wells consistently delivering results above Eastern Area Block 4 internal expectations Approximate Surface Locations Elkhead Recently completed wells averaging 290 Boe/d…
  19. August 2018 Enercom Conference – PDC Energy, Inc. – slide 19
    DELAWARE BASIN North Central Well Results Seven 1H18 TILs in North Central delivering solid results North Central Area Averaging 220 Boe/d per 1,000 53% oil State Lazy Acre Incremental 10 MM midstream infrastructure Rabbit Ears…
  20. August 2018 Enercom Conference – PDC Energy, Inc. – slide 20
    DELAWARE BASIN Significant Flow Assurance with Competitive Pricing Delaware oil and gas production expect to account for 20-25% of total PDC 2018e volumes Oil Downstream Marketing Gulf Coast 5.5 year firm sales agreement effective in…
  21. August 2018 Enercom Conference – PDC Energy, Inc. – slide 21
    PDC ENERGY Strategic Overview Returns Results Responsibility 40-42 135 2018e Production Dec. 18e Exit Rate Strong Returns on inventory 2,000 gross (MMBoe) (Mboe/d) locations in the Core Wattenberg and Delaware basins 75 - 1.3x…
  22. August 2018 Enercom Conference – PDC Energy, Inc. – slide 22
    APPENDIX
  23. August 2018 Enercom Conference – PDC Energy, Inc. – slide 23
    COLORADO POLITCAL UPDATE Proposed 2,500 Setback Details No New Oil & Gas Development Within 2,500 of Occupied Structures and Broadly Defined Vulnerable Areas Industry Viewpoint WELD Confident resources are in place to defeat this…
  24. August 2018 Enercom Conference – PDC Energy, Inc. – slide 24
    PDC ENERGY Quarterly Production and LOE Summary Delaware production continues to outperform Wattenberg LOE double hit by field-wide midstream environment Wattenberg 2Q production negatively impacted by tough midstream conditions High…
  25. August 2018 Enercom Conference – PDC Energy, Inc. – slide 25
    DELAWARE BASIN MIDSTREAM Potential Value Creation Initiated formal process to evaluate a potential strategic midstream asset transaction PDC Owned Gathering Lines Includes infield oil and gas gathering, gas compression, water Oil Gas…
  26. August 2018 Enercom Conference – PDC Energy, Inc. – slide 26
    DELAWARE BASIN Oil Gathering System Enhances Operational Efficiency Map Reflects Anticipated Oil Gathering System at Year-End 2018 Oil gathering provides significant operating efficiencies Eastern Area Block 4 Reduced transportation…
  27. August 2018 Enercom Conference – PDC Energy, Inc. – slide 27
    DELAWARE BASIN Water Management Improves Efficiencies Water mgmt. delivers incremental value options Eastern Area Block 4 Water Distribution System Better operational control and synergies Reduced LOE and/or capital per well…
  28. August 2018 Enercom Conference – PDC Energy, Inc. – slide 28
    Hedge Position Hedges in Place as of 6/30/18 CRUDE OIL NATURAL GAS Jul - Dec 2018 2019 2020 Jul - Dec 2018 2019 Volumes (MMBbls) Volumes (BBtu) Collar 1.1 1.4 - Collar 240 - Swap 5.6 8.4 0.6 Swap 27,715 8,004 Total Crude Oil…
  29. August 2018 Enercom Conference – PDC Energy, Inc. – slide 29
    Reconciliation of Non-U.S. GAAP Financial Measures Adjusted EBITDAX Three Months Ended June 30, Six Months Ended June 30, 2018 2017 2018 2017 Net income (loss) to adjusted EBITDAX: Net income (loss) (160.3) 41.2 (173.4) 87.4…
  30. August 2018 Enercom Conference – PDC Energy, Inc. – slide 30
    Reconciliation of Non-U.S. GAAP Financial Measures Adjusted Cash Flows from Operations Three Months Ended June 30, Six Months Ended June 30, 2018 2017 2018 2017 Adjusted cash flows from operations: Net cash from operating…

From the store

Browse maps, data & reports in the Shale Experts store