Q1 Established Strong Foundation for Execution on Full-Year 2023 Plan Key Q1 highlights Total production of 244 Mboe/d (77 MBOPD) March average production of 253 Mboe/d (81 MBOPD) 2022 Safety and Sustainability Turn-in-line (TIL)…
Operations Overview 4
1Q 2023 Operating Highlights (Well Positioned for Q2 Production Ramp) Q1 2023 Company Highlights Q1 2023 Wattenberg Field Q1 2023 Delaware Basin 415 million of capital investments 216,000 Boe/d 28,000 Boe/d Three rigs and two frac…
Wattenberg Field Innovation and Technology Driving Value Strong alignment between value creation and sustainability initiatives Wattenberg Field - Longer laterals, including 3-mile laterals (10-well Wayne pad online for 120+ days),…
Strong Execution in the Delaware Basin 2022 Inventory enhancement efforts adding to production in Q1 - Executed Redhorn Drill-to-Earn inventory in the Toyah area - Six-well Redhorn pad (2-mile laterals) TILs on 3/1/23 - well avg of…
Financial Positioning 8
Foundation of Sustainable Free Cash Flow Now on track to generate 875 million of free cash flow from capital investments of 1.4 billion for full year 2023 Q1 Actual Free Cash Flow(1) and Realized Price Production (Mboe/d) 244 1,500…
Shareholder Returns Remain committed to returning 60+% of annual post-dividend FCF to shareholders Q1 2023: invested 135 million to repurchase 2.1 million shares (2.5% of shares outstanding) Full Year 2023 Estimate(1) Adjusted…
On Track to Deliver on 2023 Plan Tier 1 Inventory Yields Sustainable Production Growth Profile Now anticipate 2023 capital investments of 1,350 - 1,450 million Full year production guidance reaffirmed at 255,000 265,000 Boe/d (Oil:…
Investor Relations Aaron Vandeford, Director Investor Relations aaron.vandefordpdce.com Corporate Headquarters PDC Energy, Inc. 1099 18th Street Suite 1500 D e n v e r, C O 8 0 2 0 2 303.860.5800 www.pdce.com 12
Appendix 13
2023 Operational Plan and Guidance Key Outputs of 2023 Guidance: expect to generate 875 million of FCF for the full year Capital Investment - Full-Year Total Investments: 1,350 - 1,450 million - Second Quarter Investments: 325 -400…
Detailed Hedging Hedges in place as of March 31, 2023 Crude Oil Q2 23 Q3 23 Q4 23 Q2-Q4 2023 2024 2025 Volumes (MMBbls) Collar 2 2 2 5 2 - Swap 2 2 2 7 6 3 Total Oil Hedged (MMBbls) 4 4 4 12 8 3 Crude Oil Price (/Bbl) Floor 63.18…
Non-U.S. GAAP Reconciliations In millions unless noted Note: We are unable to present a reconciliation of forward-looking adjusted free cash flow because components of the calculation, including fluctuations in working capital…
4 years without a lost time incident in either basin 2022 Sustainability Highlights 58% YoY reduction in methane emission intensity 5 years 70% 50% YoY reduction in Board diverse 32% greenhouse gas emission intensity without a…
Eliminated Routine Flaring In Colorado and Texas Corporate Goal In the Delaware Basin, PDC achieved a 70% reduction in reported associated venting and flaring from 2020 to de minimis levels Permian Basin 2021 Reported Total…
Significant Scale in Best-of-Class Tier 1 Wattenberg More than 2,100 locations inclusive of 200 DUCs Wattenberg Field 275,000 Net Acres Prairie Prairie Summit Summit Kersey Kersey Plains Plains % of Inventory In…
Multi-Year DJ Basin Inventory Guanella CAP assets located in the core of the DJ Basin and include some of the largest EUR wells in the Companys inventory Strong Economics Across Oil Phases Location count details (as of 12/31/2022)…
Robust DJ Basin Inventory of Derisked, High Return Projects Industry leading economics and years of tier one inventory development mapped, supports long-term sustainable cash flows Durable Oil Component Across DJ Basin Inventory…
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