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June 2019 Corporate Presentation – SRC Energy Inc

SRC Energy Inc · Jun 5, 2019 · 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. June 2019 Corporate Presentation – SRC Energy Inc – slide 1
    June 2019 NYSE American: SRCI
  2. June 2019 Corporate Presentation – SRC Energy Inc – slide 2
    Senate Bill-181 Colorado Senate Bill 181 passed the state legislature on April 3rd and was signed into law on April 16 Notable changes by the legislation are: Allows for local control of oil & gas development, with state and local…
  3. June 2019 Corporate Presentation – SRC Energy Inc – slide 3
    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…
  4. June 2019 Corporate Presentation – SRC Energy Inc – slide 4
    Health, Safety and the Environment SRCs Highest Priority Reduce emissions Currently using Tier-4 (low emission) engines utilized in completion fleets Working with service provider to deploy electric hydraulic fracturing pumps…
  5. June 2019 Corporate Presentation – SRC Energy Inc – slide 5
    Comprehensive Drilling Plan (CDP) Mountain View CDP Secures operatorship for SRC across the CDP footprint Permits granted are good for the life of the CD Regulators welcome the transparency that a CDP provides for all…
  6. June 2019 Corporate Presentation – SRC Energy Inc – slide 6
    Corporate Execution D&C Capex vs EBITDA (MM) Net Debt / LTM EBITDAX Net Daily Production (MBOE/D) (1) Represents 66 guided total 1.8X CAPEX Represents 2019 584 capex range guided range for 2019 63 EBITDA 51 1.4X 461 1.3X…
  7. June 2019 Corporate Presentation – SRC Energy Inc – slide 7
    2019 Program 2019 Guidance Full year average production guidance : 63 - 66 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 2019…
  8. June 2019 Corporate Presentation – SRC Energy Inc – slide 8
    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…
  9. June 2019 Corporate Presentation – SRC Energy Inc – slide 9
    Expanding Midstream 4 DCP Midstream 2 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 received for 1…
  10. June 2019 Corporate Presentation – SRC Energy Inc – slide 10
    Current D&C Operations Troudt Pad III: 12 (12 Net) LL Golden Eagle Pad: 15 (14 net) Waiting on wells Completion Drilling wells Stimulation in Progress Bost Farm Pad: 12 (11 Net) LL Bluff Pad: 12 (11 Net) LL wells 29 wells Sanford…
  11. June 2019 Corporate Presentation – SRC Energy Inc – slide 11
    SRC Energy Pure play DJ Basin operator with contiguous acreage position 2019 operations funded by internal cash flow Multi-year inventory of high return development Expanding infrastructure Strong balance sheet with 1.3x net…
  12. June 2019 Corporate Presentation – SRC Energy Inc – slide 12
    Appendix 13
  13. June 2019 Corporate Presentation – SRC Energy Inc – slide 13
    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% 33% 32% 7.59 6.71 6.54 6.56 6.89 6.74 6.89 20% 18% 19% 20% 18% 1.44 21% 22% 23% 23%…
  14. June 2019 Corporate Presentation – SRC Energy Inc – slide 14
    Hedging Summary as of May 2019 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…
  15. June 2019 Corporate Presentation – SRC Energy Inc – slide 15
    Adjusted EBITDA Reconciliation SRC ENERGY INC. RECONCILIATION OF NON-GAAP FINANCIAL MEASURES (unaudited, in thousands) 16

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