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2Q22 Earnings Presentation – PDC Energy, Inc.

PDC Energy, Inc. · Aug 3, 2022 · 16 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. 2Q22 Earnings Presentation – PDC Energy, Inc. – slide 1
    Q2 2022 Operational and Financial Update August 2022
  2. 2Q22 Earnings Presentation – PDC Energy, Inc. – slide 2
    Second Quarter 2022 Updates Key Takeaways Building a Company of Scale Received Completeness Determination on 450 well Proved Reserves: 1.0 Bboe (YE21) , Production: 235 Mboe/d Guanella CAP from COGCC in August Closed on 1.4 billion…
  3. 2Q22 Earnings Presentation – PDC Energy, Inc. – slide 3
    Continued Progress on Our ESG Journey PDC Energy is Focused on the E, the S, and the G Environmental Social Governance Plan to invest Women and minorities 100 million to further improve environmental performance(1) Target 4,000+…
  4. 2Q22 Earnings Presentation – PDC Energy, Inc. – slide 4
    Operations Overview 5
  5. 2Q22 Earnings Presentation – PDC Energy, Inc. – slide 5
    2Q 2022 Operating Highlights 290 million of capital investments - Three rigs and one and a half frac crews in the Wattenberg - One rig operating with completion activity in Delaware basin is done for 2022 Total production of…
  6. 2Q22 Earnings Presentation – PDC Energy, Inc. – slide 6
    Building on Success in Colorado Permitting Encouraging permit flow from COGCC - 99 new wells through OGDP approval in June; received Completeness Determination on Guanella CAP in August 230,000 Pro Forma Net Acres Great Westerns Broe…
  7. 2Q22 Earnings Presentation – PDC Energy, Inc. – slide 7
    Continued Momentum Towards Guanella CAP Approval Received Completeness Determination on August 2nd and now enter the technical review phase and 60-day public comment period Guanella Comprehensive Area Plan (CAP) Passed Major Milestone…
  8. 2Q22 Earnings Presentation – PDC Energy, Inc. – slide 8
    Financial Positioning 9
  9. 2Q22 Earnings Presentation – PDC Energy, Inc. – slide 9
    2022 Guidance Select operating and financial data Capital 2022 Estimated Commodity Price Sensitivity - Second Half 2022 Investments: 515 565 million Commodity Price Change: Adjusted Cash Flows from - Full-Year Total Investments: 1,025…
  10. 2Q22 Earnings Presentation – PDC Energy, Inc. – slide 10
    Significant Cash Flow Generation Committed to returning 60+% of annual post-dividend FCF to shareholders via systematic share repurchases and a special dividend, if needed Q2 Actual Expect to generate 1.6 billion of FCF in 2022(1)…
  11. 2Q22 Earnings Presentation – PDC Energy, Inc. – slide 11
    Building on Successful Track Record of Shareholder Returns Expect to return 1 billion to shareholders in 2022(1) - - Increased base quarterly dividend to 0.35 per share Repurchased 3.0 million shares (215 million) through share…
  12. 2Q22 Earnings Presentation – PDC Energy, Inc. – slide 12
    Preserving Fortress Balance Sheet 2Q 2022 net leverage ratio of 0.7x No near-term maturities and systematic hedge program enable manageable debt balance - 2Q 2022 long term debt of 1.7 billion - Ability to opportunistically term out…
  13. 2Q22 Earnings Presentation – PDC Energy, Inc. – slide 13
    Investor Relations Aaron Vandeford, Director Investor Relations aaron.vandefordpdce.com Corporate Headquarters PDC Energy, Inc. 1775 Sherman St. Suite 3000 D e n v e r, C O 8 0 2 0 3 303.860.5800 www.pdce.com 14
  14. 2Q22 Earnings Presentation – PDC Energy, Inc. – slide 14
    Appendix 15
  15. 2Q22 Earnings Presentation – PDC Energy, Inc. – slide 15
    Detailed Hedging Hedges in place as of August 1, 2022 Crude Oil Q3 22 Q4 22 Q1 23 Q2 23 Q3 23 Q4 23 2023 2024 2025 Volumes (MMBbls) Collar 1.4 1.4 1.4 1.5 1.5 1.5 5.9 0.8 - Swap 3.4 3.4 2.5 2.5 2.4 2.4 9.8 6.1 2.6 Total Crude Oil…
  16. 2Q22 Earnings Presentation – PDC Energy, Inc. – slide 16
    Non-U.S. GAAP Reconciliations In millions unless noted August 2022 17

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