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June 2014 Corporate Presentation – SRC Energy Inc

SRC Energy Inc · Jul 31, 2014 · 23 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. June 2014 Corporate Presentation – SRC Energy Inc – slide 1
    NYSE MKT: SYRG NYSE MKT: SYRG At Home In the Wattenberg Corporate Presentation - June 2014
  2. June 2014 Corporate Presentation – SRC Energy Inc – slide 2
    stock price warrants outstanding market capitalization current debt capital raised
  3. June 2014 Corporate Presentation – SRC Energy Inc – slide 3
    At Home In the Wattenberg NYSE MKT: SYRG Corporate headquarters is in the heart of the play Low Drilling and Completion Costs Low Rapid Operating Return on Costs Investment…
  4. June 2014 Corporate Presentation – SRC Energy Inc – slide 4
    Experienced Management Team NYSE MKT: SYRG More Than 100 Years of 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. June 2014 Corporate Presentation – SRC Energy Inc – slide 5
    Focused Wattenberg Position NYSE MKT: SYRG Colorado 49,900 net Wattenberg NE Wattenberg Extension Area acres Core Wattenberg Area 25,200 net acre position in the Core Wattenberg 100% of current production sourced from this…
  6. June 2014 Corporate Presentation – SRC Energy Inc – slide 6
    Stacked Pay Compounds Drilling Inventory NYSE MKT: SYRG Single Pad Potential Wattenberg Locations Core Northern Extension (25,200 net acres) (24,700 net acres) Potential Potential Spacing Wells Spacing Wells Niobrara A 320 78…
  7. June 2014 Corporate Presentation – SRC Energy Inc – slide 7
    Focus Area 1: Established Core Wattenberg Position NYSE MKT: SYRG Leffler Pad Colorado 25,200 net acre position in the Core Wattenberg 145 wells dilled on SYRG acreage to as of Renfroe Pad 2/28/14 with 100% success rate. 6 pads…
  8. June 2014 Corporate Presentation – SRC Energy Inc – slide 8
    Renfroe and Leffler Pad Results NYSE MKT: SYRG Renfroe Pad Leffler Pad Well Cost (MM per well) 3.6 Million Well Cost (MM per well) 3.7 Million Number of Wells per Pad 5 Wells Number of Wells per Pad 6 Wells Targeted Formations 3…
  9. June 2014 Corporate Presentation – SRC Energy Inc – slide 9
    Growth Trajectory From Pad Drilling NYSE MKT: SYRG 22 New Horizontal Wells Scheduled to Come Online in the Next 4 Months Eberle Pad Kelly Farms Pad Status: Drilling Status: Drilling Number of Wells: Number of Wells: Union Pad 3…
  10. June 2014 Corporate Presentation – SRC Energy Inc – slide 10
    Focus Area 2: NE Wattenberg Extension NYSE MKT: SYRG 24,700 net acre position in the NE Wattenberg Extension SYRG Recent Developments Participating with Carrizo on 4 horizontal Niobrara extended laterals . 1st well spud Jan.…
  11. June 2014 Corporate Presentation – SRC Energy Inc – slide 11
    Proved Reserves and Resource Potential NYSE MKT: SYRG Approximately 230 Mboe of Potential Upside to Current Proved Reserves (1) Proved Reserves PV-10 Value - 326 Million 253 Mmboe Proved + Unrisked Potential 350 300 300…
  12. June 2014 Corporate Presentation – SRC Energy Inc – slide 12
    Future Nebraska Upside NYSE MKT: SYRG 160,000 net acres 3D Seismic application is yielding strong results to vertical wells by Forestar Group Inc. (FOR NYSE) a public company, and numerous private companies including Berexco LLC,…
  13. June 2014 Corporate Presentation – SRC Energy Inc – slide 13
    Production, Revenue and EBITDA Growth NYSE MKT: SYRG Growing Production and Profitability Rapidly and Responsibly Annual Daily Net Production Revenue & Adjusted EBITDA 69 + 5,000 3,917 51 46 Margin: 74% MM BOEPD…
  14. June 2014 Corporate Presentation – SRC Energy Inc – slide 14
    Revenue Mix & Average Sales Price NYSE MKT: SYRG 25 Revenue Mix: 77% Oil, 8% NGL, 15% Gas (2-28-14) 20 15 MM 10 Oil 5 NGL Gas 0 3Q May-12 4Q Aug-12 1Q Nov-12 2Q Feb-13 3Q May-13 4Q Aug-13 1Q Nov-13 2Q Feb-14…
  15. June 2014 Corporate Presentation – SRC Energy Inc – slide 15
    Fiscal 2014 CAPEX Budget NYSE MKT: SYRG Total Budget: 81% Development Drilling Drilling Budget: 95% Horizontal Wells and 85% Operated Fiscal 2014 CAPEX Budget - 189.0 Million Completed Land Leasing Completed Acquisitions 5.0…
  16. June 2014 Corporate Presentation – SRC Energy Inc – slide 16
    Strong Balance Sheet NYSE MKT: SYRG Ample Liquidity to Fund Fiscal 2014 CapEx Capital Expenditures fully-funded 300 with a healthy capital structure Cash Flow 250 from Cash on Hand: 54 Million Operations 85 (est.)* Borrowing…
  17. June 2014 Corporate Presentation – SRC Energy Inc – slide 17
    Key Takeaways NYSE MKT: SYRG Significant Exposure to Wattenberg Field Experienced Operational Control Returns Driven in Low Risk Basin Management Team Near-term Upside Fully Funded from Wattenberg 2014 CAPEX Budget…
  18. June 2014 Corporate Presentation – SRC Energy Inc – slide 18
    Appendix NYSE MKT: SYRG 18
  19. June 2014 Corporate Presentation – SRC Energy Inc – slide 19
    Future Eastern Colorado Upside NYSE MKT: SYRG 61,000 net acres Synergy Land Legend Proven shallow Niobrara dry gas Leasehold field, economic above 4/mcf Participating as a non-operator in 2 wells in fiscal 2014 Area has…
  20. June 2014 Corporate Presentation – SRC Energy Inc – slide 20
    Resource Potential Reconciliation NYSE MKT: SYRG (1) Proved Reserves: 19.7 Mmboe (2/28/2014) & Total Unrisked Potential of 233.3 Mmboe Total Wells Well Total Per Well Unrisked Per 640 Net Spacing Potential EUR Potential (1)…
  21. June 2014 Corporate Presentation – SRC Energy Inc – slide 21
    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…
  22. June 2014 Corporate Presentation – SRC Energy Inc – slide 22
    Hedging Summary NYSE MKT: SYRG The companys commodity derivative contracts as of May 1, 2014 are summarized below: Hedge Volumes Average Collar Prices (2) Average Swap Prices (2) NYMEX Average (1) Oil Gas Average Oil Average…
  23. June 2014 Corporate Presentation – SRC Energy Inc – slide 23
    Sell-Side Research Coverage NYSE MKT: SYRG Firm Analyst Brean Capital Curtis Trimble Euro Pacific Equities Joel Musante, CFA Global Hunter Securities Mike Kelly Iberia Capital Partners David Beard, CFA Imperial Capital Kim…

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