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February 2015 Corporate Presentation – SRC Energy Inc

SRC Energy Inc · Feb 18, 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. February 2015 Corporate Presentation – SRC Energy Inc – slide 1
    NYSE MKT: SYRG At Home In the Wattenberg Corporate Presentation February 2015
  2. February 2015 Corporate Presentation – SRC Energy Inc – slide 2
    Features of the Wattenberg Field Low Drilling and Completion Costs Low Operating Rapid Return Costs on…
  3. February 2015 Corporate Presentation – SRC Energy Inc – slide 3
    Experienced Management Team Over 200 Years Combined Experience Operating in the Wattenberg Edward Holloway, co-CEO 33 years as an executive of oil and gas companies focused on the Wattenberg Field in the D-J Basin Built three…
  4. February 2015 Corporate Presentation – SRC Energy Inc – slide 4
    Cycle Tested Team with World Class Assets Managing Through Down Cycle Results in a Stronger Company in Up Cycle Strong Low debt to market capitalization Balance…
  5. February 2015 Corporate Presentation – SRC Energy Inc – slide 5
    Wattenberg Focused Position Colorado 75,065 net acres in the NE Wattenberg Extension Area Greater Wattenberg Area Core Wattenberg Area 36,643 net acre position in the Core Wattenberg (includes leases on 1,739 net acres with…
  6. February 2015 Corporate Presentation – SRC Energy Inc – slide 6
    Core Wattenberg Stacked Pay HZ Well Inventory Niobrara A Bench Niobrara B Bench The maps depict the estimated aerial extent of the Niobrara Benches & Codell formations and are derived from hydrocarbon saturation models utilizing…
  7. February 2015 Corporate Presentation – SRC Energy Inc – slide 7
    Payback Focus = Rapid Recycle of Capital 1 Cash-on-cash payout depends on the interaction between D&C costs, liquids content (GOR), and commodity price realizations EUR range = 225-400+ MBOE GOR range = 2,600-8,000+ scf/stb…
  8. February 2015 Corporate Presentation – SRC Energy Inc – slide 8
    Core Wattenberg HZ Operated Wells 36,643 net acre position in the Core Leffler Pad 6 Colorado wells Wattenberg (approximately 20,000 net acres held by production) 39 Horizontal wells drilled and completed Renfroe Pad on 7 SYRG pads…
  9. February 2015 Corporate Presentation – SRC Energy Inc – slide 9
    Wattenberg Drilling and Completions Colorado One rig contracted, currently drilling 11 HZ Geis Pad 8 wells on Cannon Pad finishing in late May wells Completion phase on 29 wells to begin mid- March 2015 on the Kiehn/Weis Pad on the…
  10. February 2015 Corporate Presentation – SRC Energy Inc – slide 10
    38,422 Net Acres NE Wattenberg Extension Area Operated Horizontal Drilling Program Targeting the Greenhorn Formation to Commence by 5/31/15 Increased working interest to 65%, adding 10k net acres, in an all stock transaction with…
  11. February 2015 Corporate Presentation – SRC Energy Inc – slide 11
    184,603 Net Acres in Nebraska Conventional 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.…
  12. February 2015 Corporate Presentation – SRC Energy Inc – slide 12
    Proved Reserves 32MM BOE, PV-10 value 534MM (8/31/14) 95% Compound Annual Increase in Value of Proved Reserves Driven by PDP Growth 600 534 500 400 300 MM 236 200 149 100 72 0 8/31/2011 8/31/2012 8/31/2013…
  13. February 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. February 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. February 2015 Corporate Presentation – SRC Energy Inc – slide 15
    Fiscal 2015 Cash CAPEX Budget 270 Million Operational and Financial Flexibility Focused on Return of Capital Fully Funded Budget: 97% Wattenberg Focused Drilling Budget: 98% Horizontal Wells and 90% Operated Acquisition NE Extension,…
  16. February 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. February 2015 Corporate Presentation – SRC Energy Inc – slide 17
    Appendix 18
  18. February 2015 Corporate Presentation – SRC Energy Inc – slide 18
    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)…
  19. February 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 2013…
  20. February 2015 Corporate Presentation – SRC Energy Inc – slide 20
    Hedging Summary as of February 15, 2015 Collar Volumes Average Collar Prices (1) Oil Gas HH Gas CIG Gas HH Gas CIG Month (Bbl) (MMBtu) (MMBtu) Oil (Bbl) (MMBtu) (MMBtu) February 1 to December 31, 2015 217,000 792,000 - 81.52 - 96.89…
  21. February 2015 Corporate Presentation – SRC Energy Inc – slide 21
    Sell-Side Research Coverage Firm Analyst Brean Capital Curtis Trimble Canaccord Genuity Stephen Berman, CFA Cowen and Company Christopher Walling Euro Pacific Equities Joel Musante, CFA FBR & Co. Megan Repine Global Hunter…

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