SunTrust: Utica Shale Mini-Conference January 22, 2013 NASDAQ: PDCE
Company Overview Strategic Core Areas Market cap 1 Billion(1) Colorado and Appalachian Basin Enterprise value 1.7 Billion(1) Liquid-Rich Proved reserves 1.13 Tcfe (188 MMBoe)(2) Basins 34% liquids, 49% proved developed 3P…
Utica Development History Palmer 44-20 vertical well PDC begins leasing drilled (provided core and south operations PDC announces entry to acreage validity) Utica Leasing/operator Detweiler 42-3H well negotiations begin (4)…
Utica Geology Utica is a carbonate-rich Ordivician black shale Point Pleasant is an interbedded carbonate/shale and is the lateral equivalent of the Upper Trenton ls. 1/22/2013 5
Utica Acreage Characteristics Northern Washington County - Well Log Utica Range of Point Pleasant rock property values for all of PDCEs 45,000 acres Point Pleasant Attributes PDCE Acreage Depth (ft) 6,200 - 8,600 Thickness…
Utica Leasehold and Asset Summary Southeast Ohio Activity update Oil Wet Gas Condensate Dry Gas PDC and other operators recent reported drilling results have exceeded expectations Wells drilled by PDC and other operators in and…
Operator Data Southeast Ohio Oil Wet Gas Condensate Dry Gas Boy Scout 1-33H Wagner 1-28H IP: 3,456 boepd IP: 4,650 boepd Ryser 1-25H IP: 2,914 boepd PDCE Onega- BK Stephens 1-16H Shugert 1-12H Commissioners 14-25H IP: 3,007…
2013 Utica Capital Outlook 2013 Capex Budget (MM) Oil Wet Gas Condensate Dry Gas 43 PDCE Stiers 3-Well Hz Pad (Planned 2013 Spud) 7 3 Drilling/Completion Acreage/Leasing Other 53MM Total PDCE PDCE Garvin 1H Maxwell…
2013 Utica Objectives Establish 1st Utica production in Guernsey/Northern Washington County Obtain production data to support continued drilling in 2 nd half of 2013 Delineate quality of Southern acreage Establish midstream…