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Corporate Presentation – SRC Energy Inc

SRC Energy Inc · Nov 14, 2018 · 15 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. Corporate Presentation – SRC Energy Inc – slide 1
    November 2018 NYSE American: SRCI
  2. Corporate Presentation – SRC Energy Inc – slide 2
    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…
  3. Corporate Presentation – SRC Energy Inc – slide 3
    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…
  4. Corporate Presentation – SRC Energy Inc – slide 4
    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…
  5. Corporate Presentation – SRC Energy Inc – slide 5
    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…
  6. Corporate Presentation – SRC Energy Inc – slide 6
    Corporate Execution Net Daily Production (MBOE/D) (1) Growth of acreage footprint and drilling locations 50 with longer laterals is supportive of efficient 47 production and reserves growth 34 Effective management of capital…
  7. Corporate Presentation – SRC Energy Inc – slide 7
    2018 Exploitation Program 2018 Guidance Total production of 50 Mboe/d D&C Capex of 580 MM 2018 operations funded by operating cash flow and existing liquidity Protect capital program by hedging 30%-50% of estimated production…
  8. Corporate Presentation – SRC Energy Inc – slide 8
    Current D&C Operations Troudt Pad II: 12 (12 Net) 12 ML wells Bost Farm Pad: 12 (11 Net) ML Waiting on Completion Greeley Rothe Federal: 12 (8 Drilling wells Lincoln Pad: 12 (8 Net) LL Net) LL wells Stimulation in Progress wells…
  9. Corporate Presentation – SRC Energy Inc – slide 9
    Appendix 10
  10. Corporate Presentation – SRC Energy Inc – slide 10
    Operational and Financial Performance Commodity Mix Cash Cost ( / Boe) Gas NGLs Oil Cash G&A Production Taxes LOE 36% 35% 33% 31% 31% 34% 35% 7.59 6.71 6.54 6.56 6.89 6.74 20% 18% 19% 1.44 21% 22% 23% 23% 5.58 1.66 1.39 1.67…
  11. Corporate Presentation – SRC Energy Inc – slide 11
    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…
  12. Corporate Presentation – SRC Energy Inc – slide 12
    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%…
  13. Corporate Presentation – SRC Energy Inc – slide 13
    Hedging Summary as of October 2018 2018 2019 4th QTR Total 1st QTR 2nd QTR 3rd QTR 4th QTR Total Oil Costless Collars Volume (Bbl) 920,000 920,000 540,000 546,000 552,000 552,000 2,190,000 Ceiling Price per Bbl 61.29 61.29 74.31…
  14. Corporate Presentation – SRC Energy Inc – slide 14
    Adjusted EBITDA Reconciliation SRC ENERGY INC. RECONCILIATION OF NON-GAAP FINANCIAL MEASURES (unaudited, in thousands) 15
  15. Corporate Presentation – SRC Energy Inc – slide 15
    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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