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March 2014 Corporate Presentation – SRC Energy Inc

SRC Energy Inc · Mar 31, 2014 · 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. March 2014 Corporate Presentation – SRC Energy Inc – slide 1
    NYSE MKT: SYRG Corporate Presentation NYSE MKT: SYRG March 2014
  2. March 2014 Corporate Presentation – SRC Energy Inc – slide 2
    Wattenberg Field & NE Extension Area Focus NYSE MKT: SYRG 50,000 net acre position in the Wattenberg Field and NE Wattenberg NE Wattenberg Extension Area Extension area 97% of 189 million CAPEX budget focused in the…
  3. March 2014 Corporate Presentation – SRC Energy Inc – slide 3
    Fiscal 2014 CAPEX Budget 8/31/2014 NYSE MKT: SYRG Total CAPEX Budget of 189 million 127.5 million to drill 34 horizontal wells as operator 22.5 million to participate in 5 net non-operated horizontal wells 4 million for 6 operated…
  4. March 2014 Corporate Presentation – SRC Energy Inc – slide 4
    Strengths of the Wattenberg Field NYSE MKT: SYRG Wattenberg Field is highly defined by over 17,000 vertical wells drilled since the 1970s Synergy has successfully completed 100% of its wells in the Wattenberg Field both vertical and…
  5. March 2014 Corporate Presentation – SRC Energy Inc – slide 5
    Capitalizing on Horizontal Potential with 2 Rig Development Drilling Program NYSE MKT: SYRG Rig 131 spudded 6 well Union Pad early Horizontal drilling allows multiple wells on a January, 2014. 95% working interest single pad that…
  6. March 2014 Corporate Presentation – SRC Energy Inc – slide 6
    Greater Wattenberg Area Leases & Pad Sites (25,200 net acres) NYSE MKT: SYRG Synergy Land Legend Leasehold Leffler (producing) 5 Niobrara B 1 Codell Renfroe (producing) 3 Niobrara B 2 Codell Union (drilling) Rig…
  7. March 2014 Corporate Presentation – SRC Energy Inc – slide 7
    Renfroe Pad Initial Production Results NYSE MKT: SYRG 90-day average production rate for 2 Codell wells 376 BOED, 67% oil 90-day average production rate for 3 Niobrara B Wells 321 BOED, 68% oil Average drilling and completion cost on…
  8. March 2014 Corporate Presentation – SRC Energy Inc – slide 8
    3rd Party Midstream Expansion - Wattenberg NYSE MKT: SYRG Gas Processing Capacity 2015/2016 Existing Capacity 2014 Additions Total (all volumes MMcf/d) Additions DCP Midstream 520 50 460 1,030 Anadarko 540 300 300 1,140 Total…
  9. March 2014 Corporate Presentation – SRC Energy Inc – slide 9
    NE Wattenberg Extension Area (24,700 Net Acres) NYSE MKT: SYRG Offset Operators (1) Synergy Land Legend Whiting Red Tail Project Leasehold 16 Wells /960 DSU Nio A & B Horsetail Pilot 32 Wells/960 DSU Nio A, B & C Noble - East…
  10. March 2014 Corporate Presentation – SRC Energy Inc – slide 10
    Proved Reserves and Resource Potential* NYSE MKT: SYRG * Management believes the Wattenberg Field acreage will support between 16 and 26 horizontal wells per 640 acres on a fully developed basis and have used a mid-point of 21 wells for…
  11. March 2014 Corporate Presentation – SRC Energy Inc – slide 11
    Production, Revenue and EBITDA Growth NYSE MKT: SYRG Revenue & Adjusted EBITDA ( Millions) 57.2M Oil 46.2M Revenues 40.6M Adj. EBITDA 33.8M 25.0M 18.3M NGL Gas 10.0M 6.3M 63% 73% 73% 70% FY 2011 FY 2012 FY…
  12. March 2014 Corporate Presentation – SRC Energy Inc – slide 12
    Revenue Mix & Average Sales Price NYSE MKT: SYRG 25M Revenue Mix: 81% Oil, 7% NGL, 12% Gas (11-30-13) 20M 15M 10M Oil 5M NGL 0M Gas 2Q Feb-12 3Q May-12 4Q Aug-12 1Q Nov-12 2Q Feb-13 3Q May-13 4Q Aug-13 1Q Nov-13 Average…
  13. March 2014 Corporate Presentation – SRC Energy Inc – slide 13
    Key Stats: SYRG (NYSE MKT) NYSE MKT: SYRG Stock Price (03/03/14) 10.48 Revenue (ttm) 57.2 M 52 Week High/Low 11.40-6.14 Net Income (ttm) 13.5 M Shares Outstanding (12/31/13) 76 M EPS (ttm) 0.20 Public Float 64 M Cash & STI 11/30/13 61…
  14. March 2014 Corporate Presentation – SRC Energy Inc – slide 14
    Company Highlights & Key Takeaways NYSE MKT: SYRG Fully Funded Fiscal 2014 budget of 189 million to drill/participate in horizontal and vertical wells, 2014 CAPEX additional leasehold, and acquisitions in the Wattenberg Field is fully…
  15. March 2014 Corporate Presentation – SRC Energy Inc – slide 15
    NYSE MKT: SYRG Appendix
  16. March 2014 Corporate Presentation – SRC Energy Inc – slide 16
    Eastern Colorado and Nebraska Acreage NYSE MKT: SYRG Long-term leases in these areas provide significant development potential Eastern Colorado area has proven shallow Niobrara dry gas production Nebraska acreage flanks the…
  17. March 2014 Corporate Presentation – SRC Energy Inc – slide 17
    Nebraska 160,000 Net Acres NYSE MKT: SYRG 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, Murfin Drilling…
  18. March 2014 Corporate Presentation – SRC Energy Inc – slide 18
    Eastern Colorado 61,000 Net Acres NYSE MKT: SYRG Proven dry gas field, economic above 4/mcf Participating as a non- operator in 2 wells in fiscal 2014 Area has existing infrastructure and gas processing Numerous deeper…
  19. March 2014 Corporate Presentation – SRC Energy Inc – slide 19
    Capitalization NYSE MKT: SYRG Shares Outstanding: 76 M Warrants Outstanding: 4.3M 6, expiring on 12/31/14 Management and Employee Options Outstanding: As of 11/30/2013 1.95 M shares with an average price of 5.27 Current Public…
  20. March 2014 Corporate Presentation – SRC Energy Inc – slide 20
    Hedging Summary NYSE MKT: SYRG The companys commodity derivative contracts as of November 30, 2013 are summarized below: 22
  21. March 2014 Corporate Presentation – SRC Energy Inc – slide 21
    Sell-Side Research Coverage NYSE MKT: SYRG Firm Analyst Brean Capital Raymond Deacon Euro Pacific Equities Joel Musante, CFA Global Hunter Securities Mike Kelly Iberia Capital Partners David Beard, CFA Johnson Rice & Co. Welles…

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