Barclays Global CEO Energy Power Conference – SRC Energy Inc

SRC Energy Inc · Sep 4, 2018 · 16 slides

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September 2018 Barclays CEO Energy-Power Conference NYSE American: SRCI
SRC Energy Enhancing Quality of Life Pure Play DJ Basin Operator with Contiguous Acreage Position 2018 operations funded by cash flow and existing liquidity Multi-year inventory of high return development Expanding…
Activists Attempt to Ban Oil & Gas Putting Private Property Values at Stake Walker Stapleton (2018 Republican candidate for Governor of Colorado) I oppose the Proposition 112 [Initiative 97] 2,500 Setback energy ban disguised as…
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…
Midstream Delivering Affordable Energy to Local Residents and Beyond DCP Midstream 5 Mewbourn 3 processing plant with 200 MMcf/d currently filling capacity OConnor 2 with 200 MMcf/d of processing capacity plus 100 MMcf/d of bypass…
Maximizing NPV Per Section Niobrara/Codell 50,000 12,000 Optimizing NPV per section requires balancing well density per section against 45,000 10,000 Value(NPV-10)/Recovery (MBOE) EUR per well 40,000 8,000 Maximizing…
Corporate Execution Net Daily Production (MBOE/D) (1) Growth of acreage footprint and drilling locations 52 with longer laterals is supportive of efficient 47 production and reserves growth 48 34 Effective management of capital…
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…
Current D&C Operations Harvesters State Pad: 12 (11 Net) ML wells Waiting on Greeley Rothe Federal: 12 (8 Completion Lincoln Pad: 12 (9 Net) LL wells Boomerang Pad: 16 (13 Net) Drilling Net) LL wells Troudt Pad II: 12 (11 Net) 12…
Appendix 11
Operational and Financial Performance Commodity Mix Cash Cost ( / Boe) Gas NGLs Oil Cash G&A Production Taxes LOE 36% 35% 33% 31% 31% 34% 7.59 6.71 6.54 6.56 6.89 20% 18% 19% 1.44 21% 22% 23% 5.58 1.66 1.39 1.67 3.46 1.47…
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…
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%…
Hedging Summary as of September 2018 Crude Oil, Natural Gas, and NGL Hedges 2018 Hedges Avg Monthly Collar Volumes Average Collar Prices (1) Oil Gas CIG Propane Oil Gas CIG Propane Month (Bbl) (MMBtu) (Gallons) (Bbl) (MMBtu)…
Adjusted EBITDA Reconciliation SRC ENERGY INC. RECONCILIATION OF NON-GAAP FINANCIAL MEASURES (unaudited, in thousands) Three months ended Six months ended 6/30/2018 6/30/2017 6/30/2018 6/30/2017 Adjusted EBITDA Net Income (loss)…
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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