Skip to main content WELLS FARGO: 2014 ENERGY SYMPOSIUM – PDC Energy, Inc. Investor Presentation | Shale Experts
Loading...
Pm

WELLS FARGO: 2014 ENERGY SYMPOSIUM – PDC Energy, Inc.

PDC Energy, Inc. · Dec 10, 2014 · 24 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. WELLS FARGO: 2014 ENERGY SYMPOSIUM – PDC Energy, Inc. – slide 1
    WELLS FARGO: 2014 ENERGY SYMPOSIUM DECEMBER 10, 2014 NASDAQ:PDCE
  2. WELLS FARGO: 2014 ENERGY SYMPOSIUM – PDC Energy, Inc. – slide 2
    Company Overview NASDAQ:PDCE Market cap 1.2 Billion (1) Strategic Core Areas Enterprise value 1.8 Billion (1) Colorado and Appalachian Basin WATTENBERG UTICA (3) Proved reserves 226 MMBoe (YE2013 pro forma for Marcellus sale)…
  3. WELLS FARGO: 2014 ENERGY SYMPOSIUM – PDC Energy, Inc. – slide 3
    PDC: Well-Positioned to Deliver Value 2015 Capital Budget of 557 million Focused on its highest rateofreturn drilling opportunities in the Inner & Middle core Wattenberg Core Wattenberg: Toptier returns U.S. Onshore Strong…
  4. WELLS FARGO: 2014 ENERGY SYMPOSIUM – PDC Energy, Inc. – slide 4
    2015 Production Guidance From continuing operations Production Guidance (MMBoe) FY 2014E Commodity Mix Guidance Range Actual NGLs 16.0 18% 13.8 - 14.5 Gas 34% Oil 14.0 48% 12.0 66% Liquids 9.3 - 9.5 10.0 FY 2015E Commodity…
  5. WELLS FARGO: 2014 ENERGY SYMPOSIUM – PDC Energy, Inc. – slide 5
    2015 Capex Guidance 2015 Capex budget based on 2015 NYMEX pricing of 67/Bbl and 3.80/Mcf MM 2015 Capital Budget Allocation Other Area 2015 Budget FY 2014E Variance 0% Utica 7% Wattenberg 516 443 73 Utica 38 192 (154) Other 3 2…
  6. WELLS FARGO: 2014 ENERGY SYMPOSIUM – PDC Energy, Inc. – slide 6
    0 100 10 20 30 40 50 60 70 80 90 Wattenberg HZ 12/10/2014 NE Weld 10% Eagle Ford East (oil) Bakken Core Eagle Ford West 15% (cond) Yeso Hz Cana Woodford Granite Wash (cond) Wolfcamp North Cana…
  7. WELLS FARGO: 2014 ENERGY SYMPOSIUM – PDC Energy, Inc. – slide 7
    Horizontal Program DJ Basin PDCs Core Wattenberg Field Position Regional Horizontal Development Overview(1) 97,000 net acres, 97% HBP Third largest leaseholder and producer Strong repeatable lower risk projects 2,000 horizontal…
  8. WELLS FARGO: 2014 ENERGY SYMPOSIUM – PDC Energy, Inc. – slide 8
    DJ Basin Stratigraphic Column Multiple Target Zones 2014 Current PDC Operations Spud 86 gross Hz operated wells in 1st 9months of 2014 Participated in 71 Hz nonop wells 1st 9months of 2014 Avg. WI 22% 2,300 net producing vertical…
  9. WELLS FARGO: 2014 ENERGY SYMPOSIUM – PDC Energy, Inc. – slide 9
    Resilient Core Wattenberg Economics 90% of 2015 wells spud in Inner & Middle core areas 11 83 25 119 Planned 2015 Spuds (Includes Codell) Core Wattenberg Type Well Summary 70 NYMEX Oil / 4.00 NYMEX Gas Inner Core…
  10. WELLS FARGO: 2014 ENERGY SYMPOSIUM – PDC Energy, Inc. – slide 10
    Wattenberg Key Technical Updates Current Rig Locations Extended Reach Lateral Locations Downspacing Project Locations Extended Reach & Downspacing Completions Test Key Technical Updates: 2014 Extended Reach Lateral & Downspacing…
  11. WELLS FARGO: 2014 ENERGY SYMPOSIUM – PDC Energy, Inc. – slide 11
    Wattenberg Crude Oil Takeaway Crude Takeaway Optionality Provides Support for Long-Term Wellhead Deduct Estimated at 9-11 per Barrel Refineries, Rail, New Crude Oil Takeaway Pipelines Tampa Rail Expansion Multiple delivery points…
  12. WELLS FARGO: 2014 ENERGY SYMPOSIUM – PDC Energy, Inc. – slide 12
    3rd Party Midstream Expansion - Wattenberg PDC Acreage Plants and compression strategically placed NGL Outlet to Mt. Belvieu Sullivan CS around PDC acreage 2014 Compressor Site Lucerne 2 Plant New Processing Plants Current midstream…
  13. WELLS FARGO: 2014 ENERGY SYMPOSIUM – PDC Energy, Inc. – slide 13
    Utica Operations Drilled and/or completed 2015 Planned TIL PDC acreage Type Curve Areas 67,000 net acres OIL CONDENSATE WET GAS DRY 21,000 acres in Condensate window GAS 45,000 acres in Wet Gas window Commissioners 1425H Cole 4…
  14. WELLS FARGO: 2014 ENERGY SYMPOSIUM – PDC Energy, Inc. – slide 14
    Early Performance from Palmer Wells Strong early results from Palmer wells; continuing choke management on flowback Current wellhead production holding at 70% liquids; 30% dry gas GORs support PDCs defined phase windows for Southern…
  15. WELLS FARGO: 2014 ENERGY SYMPOSIUM – PDC Energy, Inc. – slide 15
    Utica Midstream Operations MarkWest (MWE) MWE Cadiz Plant PDC volumes flow to Seneca Plant MWE Hopedale Fractionator MWE has current capacity of 585 MMcf/d with planned expansion to 1.0+ Bcf/d by 2015 REX Pipeline Access to…
  16. WELLS FARGO: 2014 ENERGY SYMPOSIUM – PDC Energy, Inc. – slide 16
    Debt Maturity Schedule in millions 115 million 3.25% convertible Debt Maturity Schedule debentures mature in May 2016 800 3.25% Convertible Notes due May 2016 700 million revolver matures May 2018 700 Current Borrowing Base 700…
  17. WELLS FARGO: 2014 ENERGY SYMPOSIUM – PDC Energy, Inc. – slide 17
    Crude Oil and Natural Gas Hedges Hedges in place as of November 30, 2014 2015: 80% crude volumes protected at 89/Bbl; 75% natural gas volumes protected at 4/Mcf 2016: 4.1 MMBbls crude protected at 85/Bbl; 27.5 Bcf natural gas…
  18. WELLS FARGO: 2014 ENERGY SYMPOSIUM – PDC Energy, Inc. – slide 18
    Investment Highlights Positioned to execute multiyear organic growth of valueadded production, cash flow and proved reserves 2015 production growth of 50% Strong liquidity of 789 million and solid balance sheet 2015 capital…
  19. WELLS FARGO: 2014 ENERGY SYMPOSIUM – PDC Energy, Inc. – slide 19
    Investor Relations Mike Edwards, Senior Director Investor Relations michael.edwardspdce.com Kyle Sourk, Manager Investor Relations kyle.sourkpdce.com Corporate Headquarters PDC Energy, Inc. 1775 Sherman Street Suite 3000 Denver,…
  20. WELLS FARGO: 2014 ENERGY SYMPOSIUM – PDC Energy, Inc. – slide 20
    Appendix 12/10/2014 21
  21. WELLS FARGO: 2014 ENERGY SYMPOSIUM – PDC Energy, Inc. – slide 21
    Quantifying Consistency in Core Wattenberg Niobrara Horizontals Inside and Outside Core Wattenberg EUR Variability Ratio Inner Core ( P10 / P90 ) Middle Core Outer Core Calculated EURs on 800 industry Hz Niobrara CO DJ Niobrara…
  22. WELLS FARGO: 2014 ENERGY SYMPOSIUM – PDC Energy, Inc. – slide 22
    Reconciliation of Non-GAAP Financial Measures in Millions, except share and per share data Three Months Ended Nine Months Ended Adjusted net income (loss) from net income (loss): September 30, September 30, 2014 2013 2014 2013 Net…
  23. WELLS FARGO: 2014 ENERGY SYMPOSIUM – PDC Energy, Inc. – slide 23
    Reconciliation of Non-GAAP Financial Measures in Millions, except share and per share data Three Months Ended Nine Months Ended September 30, September 30, Adjusted EBITDA from net income (loss): 2014 2013 2014 2013 Net income…
  24. WELLS FARGO: 2014 ENERGY SYMPOSIUM – PDC Energy, Inc. – slide 24
    Reconciliation of Non-GAAP Financial Measures in millions, except share and per share data Year Ended December 31 Adjusted net income (loss) from net income (loss): 2011 2012 2013 Net income (loss) 13.4 (130.7) (22.3) (Gain) loss on…

From the store

Browse maps, data & reports in the Shale Experts store