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EnerCom August 2022 Conference – PDC Energy, Inc.

PDC Energy, Inc. · Aug 8, 2022 · 22 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. EnerCom August 2022 Conference – PDC Energy, Inc. – slide 1
    EnerCom Denver The Energy Investment Conference August 8, 2022
  2. EnerCom August 2022 Conference – PDC Energy, Inc. – slide 2
    PDC Energy Positioned for Significant Value Creation Our Commitment to Environmental, Social and Governance Efforts Underpin Our Organizational Success Building a Company of Scale Wattenberg Field Proved Reserves: 1.0 Bboe (YE21) ,…
  3. EnerCom August 2022 Conference – 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. EnerCom August 2022 Conference – PDC Energy, Inc. – slide 4
    Colorado & U.S. Overview 5
  5. EnerCom August 2022 Conference – PDC Energy, Inc. – slide 5
    Colorado Plays an Important Role in the Greater U.S. Energy Landscape PDC has been operating in Colorado for more than 20 years Key Oil and Gas Producing Basins PDC's commitment to Colorado is deeply focused on community engagement,…
  6. EnerCom August 2022 Conference – PDC Energy, Inc. – slide 6
    Colorado Oil and Gas Production State Production History Highlights an Industry that Continues to Find a way to Succeed 700 7,000 600 6,000 Million Cubic Feet per Day Thousand Barrels per Day 500 5,000 400 4,000 300…
  7. EnerCom August 2022 Conference – PDC Energy, Inc. – slide 7
    Colorado and PDC Doing its Part to Decrease Global Methane Intensities From 2000 to 2018, the U.S. has reduced methane emissions from the energy sector by 8% while growing production 32% Change in Methane Emissions from the Energy…
  8. EnerCom August 2022 Conference – PDC Energy, Inc. – slide 8
    Operational Efficiency Drive Industry leading Breakeven Estimates PDC Energy positioned in top quartile basins resulting in peer leading breakeven costs Breakeven by Operator (/boe) Breakeven by Play (/boe) 50.00 Uinta PRB…
  9. EnerCom August 2022 Conference – PDC Energy, Inc. – slide 9
    PDC Story 10
  10. EnerCom August 2022 Conference – PDC Energy, Inc. – slide 10
    PDCE Operating Overview Active in two core plays Wattenberg Field and Delaware Basin - Three rigs and one and a half frac crews in the Wattenberg - One rig operating while completion activity in Delaware basin is done for 2022…
  11. EnerCom August 2022 Conference – PDC Energy, Inc. – slide 11
    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…
  12. EnerCom August 2022 Conference – PDC Energy, Inc. – slide 12
    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)…
  13. EnerCom August 2022 Conference – PDC Energy, Inc. – slide 13
    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…
  14. EnerCom August 2022 Conference – PDC Energy, Inc. – slide 14
    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…
  15. EnerCom August 2022 Conference – PDC Energy, Inc. – slide 15
    Top Quartile Returns Profile PDCE Return of Capital Program Among the Strongest in the E&P Universe Q2 Annualized Returns Yield(1) 30% 27% 25% 20% 19% 17% 16% 15% 13% 11% 11% 11% 10% 10% 10% 10% 9% 6% 6% 5% 1% 0% 0%…
  16. EnerCom August 2022 Conference – PDC Energy, Inc. – slide 16
    Key Takeaways Received Completeness Determination on 450 well Building a Company of Scale Guanella CAP from COGCC in August Proved Reserves: 1.0 Bboe (YE21) , Production: 235 Mboe/d Tentative hearing date - December 7, 2022…
  17. EnerCom August 2022 Conference – PDC Energy, Inc. – slide 17
    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 18
  18. EnerCom August 2022 Conference – PDC Energy, Inc. – slide 18
    Appendix 19
  19. EnerCom August 2022 Conference – PDC Energy, Inc. – slide 19
    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…
  20. EnerCom August 2022 Conference – PDC Energy, Inc. – slide 20
    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…
  21. EnerCom August 2022 Conference – PDC Energy, Inc. – slide 21
    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…
  22. EnerCom August 2022 Conference – PDC Energy, Inc. – slide 22
    Non-U.S. GAAP Reconciliations In millions unless noted Note: We are unable to present a reconciliation of forward-looking adjusted cash flow because components of the calculation, including fluctuations in working capital accounts,…

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