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Goldman Sachs Global Energy Conference – SRC Energy Inc

SRC Energy Inc · Jan 8, 2019 · 13 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. Goldman Sachs Global Energy Conference – SRC Energy Inc – slide 1
    January 2019 NYSE American: SRCI
  2. Goldman Sachs Global Energy Conference – SRC Energy Inc – slide 2
    Operating with Local Community Support Voters in Colorado have signaled where oil and gas development is welcome. Larimer Weld Morgan Boulder Broomfield Gilpin Adams Denver Arapahoe Jefferson SRC is a pure play DJ…
  3. Goldman Sachs Global Energy Conference – SRC Energy Inc – slide 3
    Health, Safety and the Environment SRCs Highest Priority Reduce emissions Tier-4 (low emission) engines utilized in completion fleets Significant use of vapor recovery equipment in facilities Direct pipeline take-away reduces truck…
  4. Goldman Sachs Global Energy Conference – SRC Energy Inc – slide 4
    Corporate Execution D&C Capex vs EBITDA (MM) Net Debt / LTM EBITDAX Net Daily Production (MBOE/D) (1) 1.8X CAPEX 50 580 EBITDA 1.4X 461 47 1.1X 34 MBOE/D 460 based on 9mos Annualized 9 mos 345 283 9mos 131 EBITDA 12 65…
  5. Goldman Sachs Global Energy Conference – SRC Energy Inc – slide 5
    Review of 2018 Program 2018 Operations Full year average production guidance - 50 Mboe/d D&C Capex - 580 MM 2018 operations funded by operating cash flow and liquidity Drilled 118 gross (101 net) wells and completed 127 gross…
  6. Goldman Sachs Global Energy Conference – SRC Energy Inc – slide 6
    Sound Economics in Todays Environment Example Full-Cycle NPV & IRR Per Well Economics 600 MBOE 800 MBOE 1 MMBOE NPV 1.0 MM 3.0 MM 5.0 MM IRR 20% 50% 85% Full cycle Wattenberg well economics are competitive with other major…
  7. Goldman Sachs Global Energy Conference – SRC Energy Inc – slide 7
    Expanding Midstream DCP Midstream 5 OConnor 2 with 200 MMcf/d of processing capacity plus 100 MMcf/d of bypass capacity is under construction and expected to be in service Q2 of 2019 Bighorn permits have been submitted for 1 Bcf/d of…
  8. Goldman Sachs Global Energy Conference – SRC Energy Inc – slide 8
    Current D&C Operations Lincoln Pad: 12 (8 Net) LL wells Troudt Pad II: 12 (12 Net) 12 Waiting on Completion Drilling Beebe Pad: 12 (11 Net) LL wells ML wells Stimulation in Progress Bost Farm Pad: 12 (11 Net) LL McNear Pad: 12 (11…
  9. Goldman Sachs Global Energy Conference – SRC Energy Inc – slide 9
    SRC Energy 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 infrastructure Strong balance sheet…
  10. Goldman Sachs Global Energy Conference – SRC Energy Inc – slide 10
    Appendix 11
  11. Goldman Sachs Global Energy Conference – SRC Energy Inc – slide 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% 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…
  12. Goldman Sachs Global Energy Conference – SRC Energy Inc – slide 12
    Hedging Summary as of December 2018 Disclosure on Derivative Instruments The Company has entered, or may enter in the future, into commodity derivative instruments utilizing, price swaps, collars, put or call options to reduce the…
  13. Goldman Sachs Global Energy Conference – SRC Energy Inc – slide 13
    Adjusted EBITDA Reconciliation SRC ENERGY INC. RECONCILIATION OF NON-GAAP FINANCIAL MEASURES (unaudited, in thousands) 14

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