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September 2014 Corporate Presentation – SRC Energy Inc

SRC Energy Inc · Sep 1, 2014 · 25 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. September 2014 Corporate Presentation – SRC Energy Inc – slide 1
    NYSE MKT: SYRG NYSE MKT: SYRG At Home In the Wattenberg Corporate Presentation - September 2014
  2. September 2014 Corporate Presentation – SRC Energy Inc – slide 2
    The use Key Statistics of words such as believes, expects, anticipates, intends, plans, estimates, should, likely or similar expressions, indicates a forward- Stock Price (09/10/14) 12.51 looking statement. These statements are subject…
  3. September 2014 Corporate Presentation – SRC Energy Inc – slide 3
    At Home In the Wattenberg Field NYSE MKT: SYRG Corporate headquarters is in the heart of the field Low Drilling and Completion Costs Low Rapid Operating Return on Costs Investment…
  4. September 2014 Corporate Presentation – SRC Energy Inc – slide 4
    Experienced Management Team NYSE MKT: SYRG Over 100 Years of Total Experience Operating in the Wattenberg Edward Holloway, co-CEO 32 years as an executive of oil and gas companies focused on the Wattenberg Field in the D-J Basin…
  5. September 2014 Corporate Presentation – SRC Energy Inc – slide 5
    Focused Wattenberg Position NYSE MKT: SYRG Colorado 56,624 net acres in the NE Wattenberg Extension Area Greater Wattenberg Area Core Wattenberg Area 30,859 net acre position in the Core Wattenberg Over 99% of current…
  6. September 2014 Corporate Presentation – SRC Energy Inc – slide 6
    Stacked Pay Compounds Drilling Inventory NYSE MKT: SYRG Single Pad + Potential Gross Wattenberg Locations Core 21/640 acres NE Extension 4/640 (30,859 net acres) (25,765 net acres) Acreage Potential Acreage Potential Spacing Wells…
  7. September 2014 Corporate Presentation – SRC Energy Inc – slide 7
    Core Wattenberg Operations NYSE MKT: SYRG Leffler Pad Colorado 30,859 net acre position in the Core Wattenberg 3rd Horizontal Rig added in September 2014 up from 1 rig a year ago Renfroe Pad 32 Horizontal wells drilled and…
  8. September 2014 Corporate Presentation – SRC Energy Inc – slide 8
    Horizontal Pad Results 8/8ths Basis NYSE MKT: SYRG Renfroe Pad Leffler Pad Well Cost (MM per well) 3.6 Well Cost (MM per well) 3.7 Number of Wells on Pad 5 Wells Number of Wells on Pad 6 Wells Targeted Formations 3 Niobrara & 2…
  9. September 2014 Corporate Presentation – SRC Energy Inc – slide 9
    Horizontal Pad Results Continued NYSE MKT: SYRG Phelps Pad Union Pad Well Cost (MM per well) 4.0 Well Cost (MM per well) 3.9 Number of Wells on Pad 6 Wells Number of Wells on Pad 6 Wells 5 Codell/Niobrara & 1 Targeted…
  10. September 2014 Corporate Presentation – SRC Energy Inc – slide 10
    Growth Trajectory From Pad Drilling NYSE MKT: SYRG 22 New Operated Horizontal Wells Coming On Production May- Sept 2014 Eberle Pad 95% WI Status: Producing Kelly Farms Pad 60% WI Number of Wells: Union Pad 91% WI Status: Producing…
  11. September 2014 Corporate Presentation – SRC Energy Inc – slide 11
    25,765 Net Acres NE Wattenberg Extension Area NYSE MKT: SYRG Operated Drilling Program to Commence in Fiscal 2015 Lab results of core samples taken from Buffalo Run vertical test well exhibit reservoir potential in the Greenhorn…
  12. September 2014 Corporate Presentation – SRC Energy Inc – slide 12
    Proved Reserves and Un-risked Resource Potential NYSE MKT: SYRG Approximately 279 Mboe of Potential Upside to Current Proved Reserves (1) Proved Reserves PV-10 Value - 326 Million* 299 Mmboe Proved + Un-risked Potential 350 350…
  13. September 2014 Corporate Presentation – SRC Energy Inc – slide 13
    182,680 Net Acres in Nebraska Oil Play NYSE MKT: SYRG Preparing to spud vertical wells into Upper Pennsylvanian, 4,100-4,800 ft. depth, 500k-650k est. completed well cost. Synergy has entered into an exploration agreement to drill…
  14. September 2014 Corporate Presentation – SRC Energy Inc – slide 14
    Production, Revenue and EBITDA Growth NYSE MKT: SYRG Growing Production and Profitability Rapidly and Responsibly Daily Net Production Revenue & Adjusted EBITDA* 4,120 83 61 Margin: 74% MM 46 BOEPD 2,117 33 25…
  15. September 2014 Corporate Presentation – SRC Energy Inc – slide 15
    Revenue Mix & Average Sales Price NYSE MKT: SYRG 30 Revenue Mix: 82% Oil, 7% NGL, 11% Gas (5-31-14) 25 20 MM 15 10 Oil 5 NGL Gas 0 4Q Aug-12 1Q Nov-12 2Q Feb-13 3Q May-13 4Q Aug-13 1Q Nov-13 2Q Feb-14 3Q May-14…
  16. September 2014 Corporate Presentation – SRC Energy Inc – slide 16
    Estimated Fiscal 2015 CAPEX Budget NYSE MKT: SYRG Total Budget: 89% Wattenberg Development Drilling Drilling Budget: 98% Horizontal Wells and 80% Operated Preliminary Range For Fiscal 2015 CAPEX Budget 200 - 225 Million NE…
  17. September 2014 Corporate Presentation – SRC Energy Inc – slide 17
    Strong Balance Sheet NYSE MKT: SYRG Ample Liquidity to Fund Fiscal 2015 CapEx Capital Expenditures fully-funded 400 with a healthy capital structure 350 Cash Flow Internally generated cash flow from 300 Operations Cash on Hand:…
  18. September 2014 Corporate Presentation – SRC Energy Inc – slide 18
    Key Takeaways NYSE MKT: SYRG Significant Exposure to Wattenberg Field Experienced Operational Control in Returns Driven Low Risk Basin Management Team Near-term Upside Fully Funded Fiscal from Wattenberg 2015 CAPEX…
  19. September 2014 Corporate Presentation – SRC Energy Inc – slide 19
    Appendix NYSE MKT: SYRG 19
  20. September 2014 Corporate Presentation – SRC Energy Inc – slide 20
    Eastern Colorado Assets NYSE MKT: SYRG 64,119 net acres, with long term Synergy Land Legend leases and 85% NRI Leasehold Proven shallow Niobrara dry gas field, economic above 4/mcf Area has existing gas gathering and…
  21. September 2014 Corporate Presentation – SRC Energy Inc – slide 21
    Resource Potential Reconciliation NYSE MKT: SYRG **Proved Reserves of 19.7 Mmboe (2/28/2014) & Total Un-risked Potential of 279.5 Mmboe (1) Wells Per Well Total Per Well Total (1) Un-risked 640 Net Spacing Potential EUR (1)…
  22. September 2014 Corporate Presentation – SRC Energy Inc – slide 22
    3rd Party Wattenberg Midstream Expansion NYSE MKT: SYRG Gas Processing Capacity (all 2015/2016 Existing Capacity 2014 Additions Total volumes MMcf/d) Additions DCP Midstream 520 50 460 1,030 Anadarko 540 300 300 1,140 Total…
  23. September 2014 Corporate Presentation – SRC Energy Inc – slide 23
    Hedging Summary NYSE MKT: SYRG The companys commodity derivative contracts as of August 1, 2014 are summarized below: Crude Oil and Natural Gas Hedges Hedges in Place as of August 1, 2014 Hedge Volumes Average Collar Prices…
  24. September 2014 Corporate Presentation – SRC Energy Inc – slide 24
    Adjusted EBITDA Reconciliation NYSE MKT: SYRG SYNERGY RESOURCES CORPORATION RECONCILIATION OF NON-GAAP FINANCIAL MEASURES (unaudited, in thousands) Three Months Ended Nine Months Ended May 31, May 31, May 31, May 31, ADJUSTED…
  25. September 2014 Corporate Presentation – SRC Energy Inc – slide 25
    Sell-Side Research Coverage NYSE MKT: SYRG Firm Analyst Brean Capital Curtis Trimble Canaccord Genuity Eli Kantor, CFA Cowen and Company Christopher Walling Euro Pacific Equities Joel Musante, CFA FBR & Co. Megan Repine Global…

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