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Acquistion of Lonestar Resources – Penn Virginia Corp

Penn Virginia Corp · Jul 12, 2021 · 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. Acquistion of Lonestar Resources – Penn Virginia Corp – slide 1
    Strategic Eagle Ford Acquisition July 12, 2021
  2. Acquistion of Lonestar Resources – Penn Virginia Corp – slide 2
    Highly Accretive Offset Operator Consolidation Contiguous position conducive to operational Complementary Assets and G&A synergies expected to exceed 20 MM Strategic Fit and Legend Additional Scale per year Adds 13 Mboe/d…
  3. Acquistion of Lonestar Resources – Penn Virginia Corp – slide 3
    Transaction Overview All-stock transaction at 0.51x exchange ratio; pro forma projected shares outstanding: 43.7 MM(1) Consideration PVAC shareholders retain approximately 87% ownership of pro forma company and Financing PVAC…
  4. Acquistion of Lonestar Resources – Penn Virginia Corp – slide 4
    Lonestar Assets Current Sales: 13 Mboe/d(1) (70% Liquids) Central Area 3 well (Hawkeye 33H, 34H, and 35H) Pad PDP PV-10 Value at 7/01/21: 389 MM(2) 11,080 laterals TIL 2/21/2021 Avg IP-30 825 bbl/d and 369 Mcf/d Total Proved…
  5. Acquistion of Lonestar Resources – Penn Virginia Corp – slide 5
    Complementary Scale and Strong Financial Metrics PVAC Standalone PVAC + LONE Asset / Operational Net Acreage(1) 90,000 143,000 Current Sales(2) 25 Mboe/d 38 Mboe/d Proved Reserves(3) 137 MMboe 219 MMboe Gross Inventory 500…
  6. Acquistion of Lonestar Resources – Penn Virginia Corp – slide 6
    Anticipated Synergies Significant Value Creation Gonzales Complementary assets allow for significant synergies Lavaca G&A/Corporate Operating Costs Capital Expenditures Marketing/Midstream Financing Costs PVAC Acreage…
  7. Acquistion of Lonestar Resources – Penn Virginia Corp – slide 7
    Northeast Acreage Provides Significant Inventory Adjacent Acreage, Attractive Well-level Economics, Substantial Inventory Fayette Gonzales Svatek 12 Mo. Cum. Lavaca 155 Mbo CLL: 6,478 Significant Future Inventory…
  8. Acquistion of Lonestar Resources – Penn Virginia Corp – slide 8
    Southwest Acreage Provides Significant Opportunity Complementary Acreage, Attractive Well Level Economics, Substantial Inventory Gonzales Gonzales Emerald 2-Well Pad Average IP-30 1,012 bbl/d Average CLL: 10,887…
  9. Acquistion of Lonestar Resources – Penn Virginia Corp – slide 9
    Committed to Protecting the Environment Minimizing Reduce flaring by connecting wells to Emissions Intensity by Eagle Ford Operator(1) natural gas pipelines in advance of Flaring production 50 Lease operators inspect each well…
  10. Acquistion of Lonestar Resources – Penn Virginia Corp – slide 10
    Further Consolidation Potential Numerous sub-scale operators in the Eagle Operator Concentration by Basin Ford basin creates a robust set of potential Bubble Size represents average boe/d per Operator(1) opportunities 4.0 Focused…
  11. Acquistion of Lonestar Resources – Penn Virginia Corp – slide 11
    Key Highlights Additional Scale with Strategic Fit Attractive Valuation Accretive Across Key Metrics Maintains Strong Balance Sheet Enhanced Inventory Committed to Responsible Operations Positioned For Further…
  12. Acquistion of Lonestar Resources – Penn Virginia Corp – slide 12
    Investor Contact Contact Information Investor Relations Penn Virginia Corporation 16285 Park Ten Place, Suite 500 Houston, TX 77084 T: (713) 722-6500 F: (713) 722-6609 investpennvirginia.com 14
  13. Acquistion of Lonestar Resources – Penn Virginia Corp – slide 13
    Appendix
  14. Acquistion of Lonestar Resources – Penn Virginia Corp – slide 14
    Exceptional Well Results and Deep Inventory Premier Oil Strong PDP Base with High Margin / Strong Balance Advantaged Regulatory and Weighted Asset Substantial Inventory Improving Efficiency Sheet / Liquidity Infrastructure Position…
  15. Acquistion of Lonestar Resources – Penn Virginia Corp – slide 15
    Successful Infill and Downspacing PVAC Acreage Gonzales Previously Drilled Munson Ranch Wells Munson Ranch 3-Well Pad Average IP-30 1,109 bbl/d Average CLL: 6,971 Lavaca PVAC Acreage Previously Drilled Reffenshack…

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