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JP Morgan Energy Power and Renewables Conference – PDC Energy, Inc.

PDC Energy, Inc. · Jun 1, 2022 · 19 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. JP Morgan Energy Power and Renewables Conference – PDC Energy, Inc. – slide 1
    J.P. Morgan Energy, Power and Renewables Conference June 2022
  2. JP Morgan Energy Power and Renewables Conference – PDC Energy, Inc. – slide 2
    PDC Energy Positioned for Significant Value Creation 2022 Guidance 1. Focus on Efficient Execution - Total Production: 235,000 - 250,000 Boe/d (33% Oil) - 950-1,000 million Capex Wattenberg Field 2. Sustainable FCF(1) 210,000…
  3. JP Morgan Energy Power and Renewables Conference – PDC Energy, Inc. – slide 3
    Successful Track Record of Execution Consistent, meaningful levels of Free Cash Flow (millions) quarterly FCF Expect to generate 1.7+ billion of FCF in 425+ 2022 and 2023 (1) 340 268 319 176 Expect to return 1 billion to 165…
  4. JP Morgan Energy Power and Renewables Conference – PDC Energy, Inc. – slide 4
    Strong Cash Flow Generation with Commitment to Shareholder Returns Committed to returning 60+% of post base dividend FCF to shareholders in the form of share buybacks and special annual dividends 2022 Est. Comment Adjusted Cash flow…
  5. JP Morgan Energy Power and Renewables Conference – PDC Energy, Inc. – slide 5
    Preserving Fortress Balance Sheet 1Q 2022 net leverage ratio of 0.4x with 171 million cash on hand No near-term maturities and systematic hedge program enable manageable debt balance - Current long term debt of 1.7 billion (0.7x pro…
  6. JP Morgan Energy Power and Renewables Conference – PDC Energy, Inc. – slide 6
    Committed to Further Improving ESG Performance 15% Key 2022 ESG Priorities 100 Plan to invest 100 million to further improve environmental performance(1) 3.5 million million - - Aim to reduce GHG emission intensity 15%…
  7. JP Morgan Energy Power and Renewables Conference – PDC Energy, Inc. – slide 7
    Operations Overview 8
  8. JP Morgan Energy Power and Renewables Conference – PDC Energy, Inc. – slide 8
    Significant Scale in Best-of-Class Core Wattenberg 230,000 Pro Forma Net Acres 4 years with no lost time work injuries Prairie LARIMER WELD Anticipate investing 775-825 million in 2022 - 3 rig program focused in Range, Kersey…
  9. JP Morgan Energy Power and Renewables Conference – PDC Energy, Inc. – slide 9
    Accretive Transaction Solidifies Core Wattenberg Position Closed May 2022 1.4 billion Core Wattenberg acquisition Honoring PDCs Acquisition Criteria - 543 million of cash plus direct issuance of 4.0 million shares - Assumption of…
  10. JP Morgan Energy Power and Renewables Conference – PDC Energy, Inc. – slide 10
    Building Progress on Colorado Permitting Encouraging permit flow from COGCC No anti-industry Colorado ballot initiatives for 2022 - March 25th deadline passed for submission to Colorado Secretary of State Great Westerns Ocho pad…
  11. JP Morgan Energy Power and Renewables Conference – PDC Energy, Inc. – slide 11
    Focused on Execution in the Delaware 4 years with no lost time work injuries 2022 TIL program has been encouraging - U-Laterals 2-mile equivalent laterals in 1-mile section are Anticipate investing 175 million in 2022 outperforming…
  12. JP Morgan Energy Power and Renewables Conference – PDC Energy, Inc. – slide 12
    Strong Free Cash Flow Generation At a Compelling Valuation 2023E TOTAL SHAREHOLDER RETURN YIELD 14.5% 13.7% 12.9% 12.4% 12.4% 8.9% 8.1% 7.8% 6.9% 5.7% 2.9% 2.7% 0.9% 0.7% 0.1% 0.0% 0.0% Peer 1 Peer 2 Peer 3 Peer 4 PDC Peer 5 Peer 6…
  13. JP Morgan Energy Power and Renewables Conference – PDC Energy, Inc. – slide 13
    PDC Energy - Focused on Execution and Positioned for Value Creation Highly Economic, Core Inventory of Permitted Assets Consistent and Meaningful Shareholder Returns Profile Preserving Fortress Balance Sheet Committed to Further…
  14. JP Morgan Energy Power and Renewables Conference – PDC Energy, Inc. – slide 14
    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 15
  15. JP Morgan Energy Power and Renewables Conference – PDC Energy, Inc. – slide 15
    Appendix 16
  16. JP Morgan Energy Power and Renewables Conference – PDC Energy, Inc. – slide 16
    Committed to Significant Shareholder Returns Increased quarterly base dividend to 0.35 per share Committed to returning 60+% of annual post-dividend FCF to shareholders via systematic share repurchases and a special dividend, if…
  17. JP Morgan Energy Power and Renewables Conference – PDC Energy, Inc. – slide 17
    Detailed Hedging Hedges in place as of June 15th Crude Oil Q3 22 Q4 22 Q1 23 Q2 23 Q3 23 Q4 23 Q1 24 Q2 24 Q3 24 Q4 24 Crude Oil (MMBbls) 2022 2023 2024 2025 Volumes (MMBbls) Volumes (MMBbls) Collar 1.4 1.4 1.4 1.5 1.5 1.5 0.3 0.2…
  18. JP Morgan Energy Power and Renewables Conference – PDC Energy, Inc. – slide 18
    2022 Guidance Select operating and financial data 2022 Estimated Commodity Price Sensitivity Capital Adjusted Cash Flows from Operations Total Investments: 950 - 1,000 million Commodity Price Change: Change: (millions) Production…
  19. JP Morgan Energy Power and Renewables Conference – PDC Energy, Inc. – slide 19
    Non-U.S. GAAP Reconciliations In millions unless noted Cash Flows from Operations to Adjusted Cash Flows from Operations and Adjusted Free Cash Flow Three Months Ended March 31, 2022 December 31, 2021 Cash flows from operations to…

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