JP Morgan Global HY & Leveraged Finance Conference NYSE American: SRCI
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…
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…
Corporate Execution D&C Capex vs EBITDA (MM) Net Debt / LTM EBITDAX Net Daily Production (MBOE/D) (1) 1.8X 62 CAPEX 584 EBITDA 51 59 1.4X 461 450 488 1.1X 34 425 283 131 12 65 2016 2017 2018 2019 EST. 2016 2017 2018 2016…
2019 Program 2019 Guidance Full year average production guidance : 59 - 62 Mboe/d Total Capex : 425-450 MM 2019 operations funded by operating cash flow Drill 99 gross (90 net) wells and complete 68 gross (62 net) wells in…
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…
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 secured for 1 Bcf/d of…
Current D&C Operations McNear Pad: 12 (11 Net) LL Waiting on Completion wells Drilling Bluff Pad: 12 (11 Net) LL wells Stimulation Bost Farm Pad: 12 (11 Net) LL in Progress Lincoln Pad: 12 (8 Net) LL 24 wells Beebe Pad: 12 (11 Net) LL…
SRC Energy Pure play DJ Basin operator with contiguous acreage position 2019 operations funded by cash flow Multi-year inventory of high return development Expanding infrastructure Strong balance sheet with 1.4x net debt/EBITDA…
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…
Adjusted EBITDA Reconciliation SRC ENERGY INC. RECONCILIATION OF NON-GAAP FINANCIAL MEASURES (unaudited, in thousands) Three months ended Twelve months ended 12/31/2018 12/31/2017 12/31/2018 12/31/2017 Adjusted EBITDA Net Income…
Senior notes term sheet Summary terms Issuer: SRC Energy Inc. (the Issuer or the Company) Size: 550 million Issue: Senior unsecured notes Maturity: January 2026 Optional redemption: Non-callable for 3.2 years First call at…
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