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January 2015 Corporate Presentation – SRC Energy Inc

SRC Energy Inc · Jan 9, 2015 · 21 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. January 2015 Corporate Presentation – SRC Energy Inc – slide 1
    NYSE MKT: SYRG At Home In the Wattenberg Corporate Presentation January 2015
  2. January 2015 Corporate Presentation – SRC Energy Inc – slide 2
    At Home In the Wattenberg Field Low Drilling and Completion Costs Low Operating Rapid Return Costs on…
  3. January 2015 Corporate Presentation – SRC Energy Inc – slide 3
    Experienced Management Team 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 Built three…
  4. January 2015 Corporate Presentation – SRC Energy Inc – slide 4
    Wattenberg Focused Position Colorado 65,065 net acres in the NE Wattenberg Extension Area Greater Wattenberg Area Core Wattenberg Area 36,643 net acre position in the Core Wattenberg 28,422 net acres in the NE Wattenberg…
  5. January 2015 Corporate Presentation – SRC Energy Inc – slide 5
    Wattenberg Asset Purchase Closed 12/14 EnCana Wells Anadarko/EnCana Wells Anadarko Wells Synergy Phelps & Eberle wells 6
  6. January 2015 Corporate Presentation – SRC Energy Inc – slide 6
    Stacked Pay Compounds Drilling Inventory Single Pad +Potential Horizontal Wattenberg Locations Core 21/640 acres NE Extension 4/640 (34,944 net acres) (28,422 net acres) Acreage Potential Acreage Potential Spacing Wells Spacing…
  7. January 2015 Corporate Presentation – SRC Energy Inc – slide 7
    Core Wattenberg Operations Leffler Pad 6 36,643 net acre position in the Core Colorado wells Geis Pad 8 Wattenberg wells Increasing WI% in Operated Wells through Renfroe Pad asset swaps with other companies 5 wells 5 wells on…
  8. January 2015 Corporate Presentation – SRC Energy Inc – slide 8
    Recent Horizontal Pad Results (8/8ths Basis) 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 Formations 3…
  9. January 2015 Corporate Presentation – SRC Energy Inc – slide 9
    Horizontal Results Continued Kelly Farms Pad Eberle Pad Well Cost (MM per well) 4.0 Well Cost (MM per well) TBD Number of Wells on Pad 4 Wells Number of Wells on Pad 4 standard & 2 mid-length Targeted Formations 3 Codell & 1…
  10. January 2015 Corporate Presentation – SRC Energy Inc – slide 10
    28,422 Net Acres NE Wattenberg Extension Area Operated Horizontal Drilling Program Targeting the Greenhorn Formation to Commence in Fiscal 2015 3Q Core samples exhibit the Greenhorn Formation is thermally mature and has 3.5 % total…
  11. January 2015 Corporate Presentation – SRC Energy Inc – slide 11
    184,603 Net Acres in Nebraska Oil Play Vertical wells targeting conventional oil prone zones in the Lansing and Kansas City Groups of the Upper Pennsylvanian, 4,100-4,800 ft. depth, 550k-650k est. completed well cost. Synergy has…
  12. January 2015 Corporate Presentation – SRC Energy Inc – slide 12
    Proved Reserves and Un-risked Resource Potential Approximately 328 Mmboe of Potential Upside to Current Proved Reserves of 32 Mmboe (1) Proved Reserves PV-10 Value - 534 Million* Proved + Un-risked Potential 360 Mmboe 600 400 350…
  13. January 2015 Corporate Presentation – SRC Energy Inc – slide 13
    Production, Revenue and EBITDA Growth Growing Production and Profitability Rapidly and Responsibly 10,000 Daily Net Production Revenue & Adjusted EBITDA* 8,278 135 127 8,000 120 104 105 98 6,000 90 Margin: BOEPD 77 MM…
  14. January 2015 Corporate Presentation – SRC Energy Inc – slide 14
    Revenue Mix & Average Sales Price 45 40 Revenue Mix: 81% Oil, 19% NGL & Gas (11-30-14) 35 30 25 MM 20 Oil 15 10 5 Gas & NGL 0 2Q FY-13 3Q FY-13 4Q FY-13 1Q FY-14 2Q FY-14 3Q FY-14 4Q FY-14 1Q FY-15 Average…
  15. January 2015 Corporate Presentation – SRC Energy Inc – slide 15
    Fiscal 2015 Cash CAPEX Budget 270 Million Total Budget: 97% Wattenberg Focused Drilling Budget: 98% Horizontal Wells and 80% Operated Acquisition NE Extension, Nebraska & Other 75 Million (cash) 5 Million Land Leasing 10…
  16. January 2015 Corporate Presentation – SRC Energy Inc – slide 16
    Key Takeaways 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 Budget Extension &…
  17. January 2015 Corporate Presentation – SRC Energy Inc – slide 17
    Eastern Colorado Assets 63,465 net acres, with long term Synergy Land Legend leases and 85% NRI Leasehold Proven shallow Niobrara dry gas field, economic above 4/mcf 2 days to drill and complete vertical wells (est. cost 250k)…
  18. January 2015 Corporate Presentation – SRC Energy Inc – slide 18
    Resource Potential Reconciliation **Proved Reserves of 32.2 Mmboe (8/31/2014) & Total Un-risked Potential of 328.4 Mmboe (1) Wells Per Well Total Per Well Total (1) Un-risked 640 Net Spacing Potential EUR (1) Potential Project Area…
  19. January 2015 Corporate Presentation – SRC Energy Inc – slide 19
    Adjusted EBITDA Reconciliation SYNERGY RESOURCES CORPORATION RECONCILIATION OF NON-GAAP FINANCIAL MEASURES (unaudited, in thousands) Three Months Ended Twelve Months Ended Nov 30, Nov 30, Aug 31, Aug 31, ADJUSTED EBITDA 2014…
  20. January 2015 Corporate Presentation – SRC Energy Inc – slide 20
    Hedging Summary as of November 30, 2014 Average Volumes Average Derivative (BBls/MMBtu Fixed Floor Celling Settlement Period Instrument per month) Price Price Price Crude Oil - NYMEX WTI Dec 1, 2014 - Dec 31, 2014 Collar 21,840 -…
  21. January 2015 Corporate Presentation – SRC Energy Inc – slide 21
    Sell-Side Research Coverage 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 Hunter Securities…

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