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Credit Suisse Energy Summit – PDC Energy, Inc.

PDC Energy, Inc. · Feb 11, 2019 · 19 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. Credit Suisse Energy Summit – PDC Energy, Inc. – slide 1
    CREDIT SUISSE ENERGY SUMMIT February 12, 2019
  2. Credit Suisse Energy Summit – PDC Energy, Inc. – slide 2
    PDC ENERGY Company Overview 2.3B Market Cap(1) 3.5B Enterprise Value(1) 545 Core Wattenberg Delaware Basin 100,000 net acres(2) 42,000 net acres(3) 425 MMBoe proved reserves 120 MMBoe proved reserves YE18 Proved…
  3. Credit Suisse Energy Summit – PDC Energy, Inc. – slide 3
    PDC ENERGY Exiting 2018 with Strong Momentum Returns Results Responsibility 40.2 2018 Production 130 Dec. 18 Exit Rate Strong Results drive 4Q18 growth of 17% compared to 3Q18 with a December exit rate (MMBoe) (Mboe/d) of…
  4. Credit Suisse Energy Summit – PDC Energy, Inc. – slide 4
    PDC ENERGY Solid Growth in 2018 SEC Proved Reserves 20% increase in proved reserves 2017 2018 Liquids 329% all-sources reserve replacement(1) (MMBoe) (MMBoe) (2018) 66% increase in before-tax SEC PV-10(2) to 5.3 billion Wattenberg…
  5. Credit Suisse Energy Summit – PDC Energy, Inc. – slide 5
    PDC ENERGY Strategic Initiatives to Drive Sustainable, Long-Term Value Creation PRIORITIZE HEALTH, SAFETY & THE PROVIDE TOP-TIER FINANCIAL ENVIRONMENT & PERFORMANCE METRICS Maintain top-tier Balance Sheet PDCs top priority. Be a…
  6. Credit Suisse Energy Summit – PDC Energy, Inc. – slide 6
    PDC ENERGY 2019 Plan Expected to Deliver Differentiating Results 50/Bbl WTI and 3/Mcf NYMEX Prices 1000 Adj. Cash Flow Capital 2019 Guidance Overview from Ops Investment(1) (840 - 890MM) (810 - 870MM) Plan targets free cash flow…
  7. Credit Suisse Energy Summit – PDC Energy, Inc. – slide 7
    ASSET OVERVIEW
  8. Credit Suisse Energy Summit – PDC Energy, Inc. – slide 8
    CORE WATTENBERG Prolific Asset in Development Mode 100,000 4Q18 Results Prairie Area Net Acres(1) 97,080 Boe/d Kersey Area 16% Q/Q Growth 425 YE18 Proved Reserves (MMBoe) 40 Spuds 40 TILs Plains Area February 2019…
  9. Credit Suisse Energy Summit – PDC Energy, Inc. – slide 9
    CORE WATTENBERG Safely Developing Rural Acreage in Weld County PDC has operated in the Wattenberg Field of the DJ Basin for almost 20 years Field office of 250 employees located in Evans Eaton Consolidated acreage position…
  10. Credit Suisse Energy Summit – PDC Energy, Inc. – slide 10
    CORE WATTENBERG Production Unbundling with Midstream Expansions DCP Midstream 1.05 Bcf/d Plant 10 (Mewbourne 3): In-service August 1, 2018 Prairie Area Plant 11 (OConnor 2): 200 MMcf/d (expected start-up in June 2019) 100 MMcf/d…
  11. Credit Suisse Energy Summit – PDC Energy, Inc. – slide 11
    DELAWARE BASIN Primary Focus in Two Oil-Rich Areas 42,000 Net Acres(1) 4Q18 Results 30,840 Boe/d 19% Q/Q Growth 120 YE18 Proved Reserves (MMBoe) 9 Spuds 4 TILs (1) Year-end 2018 net acres of 55,000. Anticipate…
  12. Credit Suisse Energy Summit – PDC Energy, Inc. – slide 12
    DELAWARE BASIN Focused on Continued Execution Delaware Production (Boe/d) 35,000 Anticipate a 2.5 rig pace and part-time completion crew in 2019 31,000 30,000 26,000 Successful marketing and midstream efforts ensure 25,000…
  13. Credit Suisse Energy Summit – PDC Energy, Inc. – slide 13
    PDC ENERGY Delivering Strong Value in 2019 at 50 Oil 50/Bbl WTI and 3/Mcf NYMEX Prices Returns Results Responsibility 810- 46-50 870 Strong Returns on Core Wattenberg and Delaware basins projects generate solid debt- adjusted…
  14. Credit Suisse Energy Summit – PDC Energy, Inc. – slide 14
    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,…
  15. Credit Suisse Energy Summit – PDC Energy, Inc. – slide 15
    APPENDIX
  16. Credit Suisse Energy Summit – PDC Energy, Inc. – slide 16
    PDC ENERGY Corporate Social Responsibility SAFE OPERATIONS EMPLOYEES MATTER COMMUNITY OUTREACH February 2019 17
  17. Credit Suisse Energy Summit – PDC Energy, Inc. – slide 17
    Hedge Position Hedges in Place as of 12/31/18 CRUDE OIL NATURAL GAS 2019 2020 2019 Volumes (MMBbls) Volumes (BBtu) Collar 2.6 3.6 Collar - Swap 8.4 5.0 Swap 26,008 Total Crude Oil Hedged 11.0 8.6 Total Natural Gas Hedged…
  18. Credit Suisse Energy Summit – PDC Energy, Inc. – slide 18
    Reconciliation of Non-U.S. GAAP Financial Measures Adjusted EBITDAX Three Months Ended Nine Months Ended September 30, September 30, 2018 2017 2018 2017 Net loss to adjusted EBITDAX: Net loss (3.4) (292.5) (176.8) (205.1) (Gain)…
  19. Credit Suisse Energy Summit – PDC Energy, Inc. – slide 19
    Reconciliation of Non-U.S. GAAP Financial Measures Adjusted Cash Flows from Operations Three Months Ended Nine Months Ended September 30, September 30, 2018 2017 2018 2017 Adjusted cash flows from operations: Net cash from…

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