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First Quarter 2021 Presentation – PDC Energy, Inc.

PDC Energy, Inc. · May 5, 2021 · 18 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. First Quarter 2021 Presentation – PDC Energy, Inc. – slide 1
    1ST QUARTER 2021 EARNINGS CALL May 2021
  2. First Quarter 2021 Presentation – PDC Energy, Inc. – slide 2
    BART BROOKMAN
  3. First Quarter 2021 Presentation – PDC Energy, Inc. – slide 3
    First Quarter Results Highlight Ability to Execute Generated 175 million of adjusted free cash flow (FCF)(1) Generated 575 million of FCF over past year on total capital investments of 650 million (90% FCF Margin(2)) Multi-Year…
  4. First Quarter 2021 Presentation – PDC Energy, Inc. – slide 4
    Continual Progress on Corporate Social Responsibility Environmental Stewardship Social Responsibility Corporate Governance Aligned with World Bank Zero Routine Flaring by Committed to further increasing Continuous board refreshment…
  5. First Quarter 2021 Presentation – PDC Energy, Inc. – slide 5
    DAVID LILLO
  6. First Quarter 2021 Presentation – PDC Energy, Inc. – slide 6
    1st Quarter Operating Results 125 million of oil & gas capital investments Anticipate 2Q21 capital investments of 200 million LOE of 2.66/Boe 10% improvement compared to 1Q20 Total production of 15.7 MMBoe (175,000 Boe/d)…
  7. First Quarter 2021 Presentation – PDC Energy, Inc. – slide 7
    Comprehensive Area Plan (CAP) Overview Continue to target submission of Guanella CAP application by year-end Significant progress made in compilation of materials/documents needed Recent Accomplishments: Surpassed protest deadline…
  8. First Quarter 2021 Presentation – PDC Energy, Inc. – slide 8
    SCOTT MEYERS
  9. First Quarter 2021 Presentation – PDC Energy, Inc. – slide 9
    1st Quarter Financial Results Three Months Ended Measure March 31, (millions except per share and price per Boe data) 2021 2020 % Production (MMBoe) 15.7 16.8 (7%) Realized Price per Boe (excluding derivatives) 29.74 19.02 56%…
  10. First Quarter 2021 Presentation – PDC Energy, Inc. – slide 10
    Resilient Balance Sheet with Strong Hedge Book As of March 31, 2021 Balance Sheet Paid down 230 million of net debt in first quarter Undrawn revolver and 60 million cash on hand Total Net Debt: 1.4 billion Liquidity of 1.7 billion…
  11. First Quarter 2021 Presentation – PDC Energy, Inc. – slide 11
    Multi-Year Focus on Sustainable FCF Generation Assuming 55/Bbl WTI, 2.50/Mcf & 15/Bbl NGLs 2021 - 2023 Highlights Cumulative FCF (includes forward-looking, non-U.S. GAAP numbers) Anticipate 3-year cumulative capital investments…
  12. First Quarter 2021 Presentation – PDC Energy, Inc. – slide 12
    PDCs 2021 Commitment to Free Cash Flow Allocation Assuming 55/Bbl WTI, 2.50/Mcf & 15/Bbl NGLs Debt Reduction Shareholder Returns Flex FCF A constant focus for PDC with a goal of reaching and Consistent share repurchase program…
  13. First Quarter 2021 Presentation – PDC Energy, Inc. – slide 13
    Investor Relations Kyle Sourk, Director Corporate Finance & Investor Relations kyle.sourkpdce.com Corporate Headquarters Website PDC Energy, Inc. www.pdce.com 1775 Sherman Street Suite 3000 Denver, Colorado 80203 303-860-5800
  14. First Quarter 2021 Presentation – PDC Energy, Inc. – slide 14
    APPENDIX
  15. First Quarter 2021 Presentation – PDC Energy, Inc. – slide 15
    2021 Full-Year Guidance Capital Investments: 500 - 600 million Run-Rate Non-Recurring G&A per Boe Production Total: 190,000 - 200,000 Boe/d 4.25 3.27 2.36 < 1.75 Oil: 64,000 - 68,000 Bbls/d 2018 2019 2020 2021e Operating…
  16. First Quarter 2021 Presentation – PDC Energy, Inc. – slide 16
    Detailed Hedge Positions Hedges as of April 30, 2021 May 2021 18
  17. First Quarter 2021 Presentation – PDC Energy, Inc. – slide 17
    Adjusted Free Cash Flow and Adjusted Earnings Reconciliations 1Q20 2Q20 3Q20 4Q20 1Q21 Cash flows from operations to adjusted cash flows from operations and adjusted free cash flow (deficit): Net cash from operating activities 266.3…
  18. First Quarter 2021 Presentation – PDC Energy, Inc. – slide 18
    Reconciliation Non-U.S. GAAP Metrics May 2021 20

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