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December 2013 Corporate Presentation – SRC Energy Inc

SRC Energy Inc · Jan 1, 2013 · 22 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. December 2013 Corporate Presentation – SRC Energy Inc – slide 1
    NYSE MKT: SYRG Corporate Presentation NYSE MKT: SYRG December 2013
  2. December 2013 Corporate Presentation – SRC Energy Inc – slide 2
    NYSE MKT: SYRG Edward Holloway, President & CEO Craig Rasmuson, Vice President, Operations & Production Ed has been President & CEO of Synergy since 2008. He has Craig joined Synergy in September 2008. His duties vary from overseeing…
  3. December 2013 Corporate Presentation – SRC Energy Inc – slide 3
    Our Leased Acreage * NYSE MKT: SYRG Area 1 All of our current wells both vertical and 2 Northern D-J Basin horizontal are in the oil and (Wattenberg Extension Area) high-liquids portion of the 20,040 net (high liquids) Wattenberg…
  4. December 2013 Corporate Presentation – SRC Energy Inc – slide 4
    Fiscal 2014 Drilling Budget and Summary Sources & Uses NYSE MKT: SYRG Synergy Fiscal 2014 Drilling Program Ending 8/31/2014 Well Cost Well Cost Net Net Non- Total Net Operated Non-Operated Drilling Budget Operated Operated Wells…
  5. December 2013 Corporate Presentation – SRC Energy Inc – slide 5
    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 Significant…
  6. December 2013 Corporate Presentation – SRC Energy Inc – slide 6
    Horizontal Drilling Expands Opportunity NYSE MKT: SYRG Advent of horizontal drilling has led to: Enhanced recovery of oil in place by 3 to 6 Horizontal Drilling Allows Multiple Wells on a Single Pad that Reach Multiple Zones fold…
  7. December 2013 Corporate Presentation – SRC Energy Inc – slide 7
    Greater Wattenberg Acreage Lease Map* NYSE MKT: SYRG Noble+ Encana+ Anadarko+ North Synergy Existing Lease Hold in Orange * Pro-forma for acquisitions in yellow and green closed November 2013 + Offset operator areas…
  8. December 2013 Corporate Presentation – SRC Energy Inc – slide 8
    First Operated Horizontal Well Pads NYSE MKT: SYRG Renfroe Pad operated 5 well pad with 99% 1 W.I. (first production commenced September, 2013) 3 Niobrara B and 2 Codell wells Leffler Pad operated 6 well pad with 99% 2 W.I. (drilling…
  9. December 2013 Corporate Presentation – SRC Energy Inc – slide 9
    Renfroe Pad Initial Production Results NYSE MKT: SYRG 30-day average production rate for 2 Codell wells 518 BOED, 75% oil 30-day average production rate for 3 Niobrara B Wells 440 BOED, 70% oil Company estimates total well cost will…
  10. December 2013 Corporate Presentation – SRC Energy Inc – slide 10
    Wattenberg Midstream Ramp-Up NYSE MKT: SYRG Current Capacity: DCP Expansion Projects 555 MMcf/day OConnor Plant 2013 50 MMcf/d Upgrades & Began Operating Expansion Expansion October, 2013 Lucerne Plant 2 Q1 2015 Additional 230…
  11. December 2013 Corporate Presentation – SRC Energy Inc – slide 11
    Wattenberg Extension Area in the Northern DJ Basin Overview (20,040 Net Acres) (1) NYSE MKT: SYRG Whiting Red Tail Project Razor Well Synergy operated vertical well IP: 861 Boe/d 100% working interest From Niobrara B currently…
  12. December 2013 Corporate Presentation – SRC Energy Inc – slide 12
    Production Growth 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…
  13. December 2013 Corporate Presentation – SRC Energy Inc – slide 13
    1P Reserve Growth by Year (PV-10) NYSE MKT: SYRG Total 1P PV-10 250M 236 Million 200M 150M PDP PDNP 100M PUD 78% of PV-10 50M value is currently oil weighted 0M 8/31/10 8/31/11 8/31/12 8/31/2013 BOEs 1.4M BOEs 4.4M…
  14. December 2013 Corporate Presentation – SRC Energy Inc – slide 14
    Revenue and EBITDA Growth NYSE MKT: SYRG Revenue Mix: 79% Oil, 7% NGL, 14% Gas* Revenue & Adjusted EBITDA 16M ( Millions) 46.2M 14M 33.8M 12M Revenues 10M 25.0M Adj. EBITDA 8M 18.3M 6M Oil 10.0M 4M 6.3M 2M NGL Gas 63% 73% 73%…
  15. December 2013 Corporate Presentation – SRC Energy Inc – slide 15
    Key Stats: SYRG (NYSE MKT) NYSE MKT: SYRG Stock Price (11/15/13) 9.51 Revenue (ttm) 46.2 M 52 Week High/Low 11.40-3.59 Net Income (ttm) 9.6 M Shares Outstanding (10/31/13) 74.4 M EPS (ttm) 0.16 Public Float 56 M Cash & STI 8/31/13 79.5…
  16. December 2013 Corporate Presentation – SRC Energy Inc – slide 16
    Company Highlights & Key Takeaways NYSE MKT: SYRG Fully Funded Fiscal 2014 budget of 157.5 million to drill/participate in horizontal and 2014 CAPEX vertical wells, additional lease hold, and acquisitions in the Wattenberg Field…
  17. December 2013 Corporate Presentation – SRC Energy Inc – slide 17
    NYSE MKT: SYRG Appendix
  18. December 2013 Corporate Presentation – SRC Energy Inc – slide 18
    Nebraska Acreage Multiple Stacked Play NYSE MKT: SYRG 123,000 net acres in Nebraska that is highly prospective for Upper Multiple Stacked Play Pennsylvanian, Cherokee and Mississippian Lime Type Log 3D Seismic application to…
  19. December 2013 Corporate Presentation – SRC Energy Inc – slide 19
    Capitalization NYSE MKT: SYRG Shares Outstanding: 74.4 M Warrants Outstanding: 4.7 M 6, expiring on 12/31/14 Management and Employee Options Outstanding: As of 8/31/2013 1.95 M shares with an average price of 4.88 Current…
  20. December 2013 Corporate Presentation – SRC Energy Inc – slide 20
    2014 CAPEX Budget NYSE MKT: SYRG Total CAPEX Budget of 157.5 million 96 million to drill 24 net new horizontal wells as operator 22.5 million to participate in 5 net non-operated horizontal wells 4 million for 6 operated vertical…
  21. December 2013 Corporate Presentation – SRC Energy Inc – slide 21
    Hedging Summary NYSE MKT: SYRG The companys commodity derivative contracts as of November 30, 2013 are summarized below: 22
  22. December 2013 Corporate Presentation – SRC Energy Inc – slide 22
    Sell-Side Research Coverage NYSE MKT: SYRG Firm Analyst Brean Capital Raymond Deacon Cannacord Genuity Ipsit Mohanty Euro Pacific Equities Joel Musante, CFA Global Hunter Securities Mike Kelly Iberia Capital Partners David…

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