Strong Second Quarter Results & Continued ESG Progress Generated 165 million of adjusted free cash flow (FCF)(1) Returned 38 million of capital to shareholders through share buyback program and quarterly dividend ESG Update…
Implementing Aggressive Environmental Performance Targets Project to deliver significant reduction in both GHG and methane emission intensities by 2025 Forecasted GHG Intensity relative to 2020 baseline CO2e/MBoe 20.4 60% reduction…
DAVID LILLO Sr. VP Operations
2nd Quarter Operating Results 180 million of oil & gas capital investments Slightly below expectations due to shift in non- operated activity to the 3rd quarter Maintain best in class cost structure LOE of 2.43/Boe Cash +…
Maintaining Capital Discipline Wattenberg Field Wattenberg XRL Well Costs Anticipate 10% increase to XRL well costs due to commodity price related cost inflation 10% 4.0MM 4.0 3.6 million XRL projected to increase to 4.0 million…
Continue to Progress Towards New Colorado Permits Internal Planning Process OGDP Permit Package Official Submittal and Review Informed Alternative DSU & COGCC Commission Signed Plat Directional Ops Form Form WOGLA Submit…
SCOTT MEYERS CFO
Updated 2021 Guidance with No Change to Operating Cadence Anticipate FCF(1) of more than 800 million Key Guidance Statistics Expect more than 200 million in each 3rd and 4th quarter August May FCF (millions) 800+ 600+ Narrowed…
Resilient Balance Sheet with Strong Hedge Book As of June 30, 2021 Balance Sheet Reduced net debt by 50 million in second quarter Undrawn revolver and 110 million cash on hand Total Net Debt: 1.3 billion Liquidity of 1.7 billion…
Expect Significant FCF and Meaningful Shareholder Returns Significant increase to projected cumulative FCF compared Multi-Year Outlook(1) to May update (2021 2023) 2.5 Billion 600 million of incremental FCF 100 million of…
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
APPENDIX
2nd Quarter Financial Results Three Months Ended Six Months Ended Measure June 30, June 30, (millions except per share and price per Boe data) 2021 2020 % 2021 2020 % Production (MMBoe) 17.4 17.2 1% 33.2 34.1 (3%) Realized Price…
2021 Updated Full-Year Guidance Capital Investments: 550 - 600 million Run-Rate Non-Recurring G&A per Boe Production Total: 190,000 - 195,000 Boe/d 4.25 3.27 2.36 1.80 Oil: 64,000 - 66,000 Bbls/d 2018 2019 2020 2021e…
Continual Progress on Corporate Social Responsibility Environmental Stewardship Social Responsibility Corporate Governance Committed to zero routine flaring, as defined by Committed to further increasing Continuous board…
Detailed Hedge Positions Hedges as of June 30, 2021 August 2021 20
Adjusted Free Cash Flow and Adjusted Earnings Reconciliations 2Q20 3Q20 4Q20 1Q21 2Q21 Cash flows from operations to adjusted cash flows from operations and adjusted free cash flow (deficit): Net cash from operating activities 103.0…
Reconciliation Non-U.S. GAAP Metrics Adjusted EBITDAX Three Months Ended June 30, Six Months Ended June 30, 2021 2020 2021 2020 Net income (loss) to adjusted EBITDAX: Net income (loss) (87.0) (221.8) (96.1) (686.8) Loss (gain) on…
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