Skip to main content FIRST QUARTER 2013 – PDC Energy, Inc. Investor Presentation | Shale Experts
Loading...
Pm

FIRST QUARTER 2013 – PDC Energy, Inc.

PDC Energy, Inc. · May 1, 2013 · 23 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. FIRST QUARTER 2013 – PDC Energy, Inc. – slide 1
    FIRST QUARTER 2013 MAY 1, 2013 NASDAQ:PDCE
  2. FIRST QUARTER 2013 – PDC Energy, Inc. – slide 2
    James Trimble Chief Executive Officer and President 5/1/2013 3
  3. FIRST QUARTER 2013 – PDC Energy, Inc. – slide 3
    2013 First Quarter Highlights Production from continuing operations increased 19% to 18,500 Boe per day Record quarter for liquid production of 10,073 Bbls per day Product mix of 54% liquids from continuing operations in Q1 2013…
  4. FIRST QUARTER 2013 – PDC Energy, Inc. – slide 4
    Gysle Shellum Chief Financial Officer 5/1/2013 5
  5. FIRST QUARTER 2013 – PDC Energy, Inc. – slide 5
    Summary Financial Results In Millions, Except Per Share Data Three Months Ended March 31, Measure 2013 2012 Total natural gas, NGL, and crude oil sales (1) 79.4 67.0 Production costs (1) 15.9 12.9 Gross margin(1,2) 63.5…
  6. FIRST QUARTER 2013 – PDC Energy, Inc. – slide 6
    Summary Financial Results In Millions, Except Per Share Data Three Months Ended March 31, Measure 2013 2012 Income (loss) from operations (50.1) 21.3 Net income (loss) (39.4) 15.8 Diluted earnings (loss) per share (1.30)…
  7. FIRST QUARTER 2013 – PDC Energy, Inc. – slide 7
    Debt Maturity Schedule in Millions 450 million revolver matures in Debt Maturity Schedule (1) November 2015 600 115 million 3.25% convertible Drawn 03/31/2013 500 debentures mature in May 2016 500 450 Undrawn Revolver (…
  8. FIRST QUARTER 2013 – PDC Energy, Inc. – slide 8
    Crude Oil and Natural Gas Hedges Hedges in Place as of March 31, 2013 Pro-forma for Non-Core Colorado natural gas assets divestiture. Crude Oil (includes NGL) 2013 2014 2015 (1) NYMEX Average 96.60 93.21 89.65 Weighted-Average…
  9. FIRST QUARTER 2013 – PDC Energy, Inc. – slide 9
    Barton Brookman Senior Vice President Exploration and Production 5/1/2013 10
  10. FIRST QUARTER 2013 – PDC Energy, Inc. – slide 10
    Operational Overview Continuing Operations Q1 2013 Production 1,665 MBoe WATTENBERG UTICA Liquid-Rich Q1 2012: 1,168 MBoe Basins Q1 2012: N/A Wattenberg Q1 2013: 1,385 MBoe Q1 2013: 17 MBoe(2) 83% 2013E: 5,489 MBoe 2013E: 392…
  11. FIRST QUARTER 2013 – PDC Energy, Inc. – slide 11
    Production Highlights 2013 Quarterly Net Production (MBoe) 2,500 Oil / Liquids Gas Q113 Actual 4% higher than Q113E +9% in Oil 2,000 -3% in NGL +2% in Gas 1,500 Ethane rejection in Wattenberg Reporting Utica 1st sales in…
  12. FIRST QUARTER 2013 – PDC Energy, Inc. – slide 12
    Production by Area MBoe Q1 2013 FY Q1 2013 Commodity Mix(2) Actual 2013E Wattenberg 1,385 5,489 (1) Utica 17 392 Marcellus / Other 263 1,381 Gas Oil 46% 40% Piceance 487 - NECO 117 - Total 2,269 7,262 NGLs 14% Continuing…
  13. FIRST QUARTER 2013 – PDC Energy, Inc. – slide 13
    Drilling Activity Q1 2013 Gross Project Counts 2013 Gross Wells Drilled 45 Horizontal Spuds (operated) 17 Operated Non Operated 40 Wattenberg (4 Nio, 7 Codell) 11 38 36 35 Utica 2 33 30 Marcellus 4 27 25 24 Refracs/Recompletes…
  14. FIRST QUARTER 2013 – PDC Energy, Inc. – slide 14
    Capex Update Q1 2013 Q2 - Q4 FY PDC Energy Actual 2013E 2013E D&C Capital 47 302 349 Wattenberg 38 234 272 Utica 9 68 77 Other - - - Leasehold, Exploration & Miscellaneous 3 34 37 Total Capex 50 336 386 PDCM JV (PDCE Share)…
  15. FIRST QUARTER 2013 – PDC Energy, Inc. – slide 15
    Lease Operating Expense Q1 FY 2012 2013 2013E Lease Operating Expense (MM) 7.5 35 42 Direct Well Expense (/Boe) 2.09 2.74 3.03 Workover Expense (/Boe) 0.29 0.40 0.41 Indirect Well Expense (/Boe) 2.10 1.74 1.67 Lifting Cost…
  16. FIRST QUARTER 2013 – PDC Energy, Inc. – slide 16
    Operations Highlights Wattenberg Utica Appalachia Quarterly horizontal production 6 MBoepd 46,000 net acres Drilled 4 horizontal Niobrara wells in Q113 Most acreage in liquid-rich window Drilled 7 horizontal Codell wells in Q113 1st…
  17. FIRST QUARTER 2013 – PDC Energy, Inc. – slide 17
    Questions and Answers 5/1/2013 18
  18. FIRST QUARTER 2013 – PDC Energy, Inc. – slide 18
    Contact Information Investor Relations Ron Wirth, Vice President Finance and Treasurer ron.wirthpdce.com Mike Edwards, Senior Director Investor Relations michael.edwardspdce.com Marti Dowling, Investor Relations Manager…
  19. FIRST QUARTER 2013 – PDC Energy, Inc. – slide 19
    Appendix 5/1/2013 20
  20. FIRST QUARTER 2013 – PDC Energy, Inc. – slide 20
    Adjusted Net Income (Loss) Reconciliation From Net Income (Loss) in millions, except share and per share data Three Months Ended March 31, 2013 2012 Net income (loss) (39.4) 15.8 Unrealized (gain) loss on derivatives, net (1)…
  21. FIRST QUARTER 2013 – PDC Energy, Inc. – slide 21
    Adjusted Cash Flows From Operations Reconciliation From Net Cash From Operating Activities in millions, except share and per share data Three Months Ended March 31, 2013 2012 Net cash from operating activities 44.3 44.3 Changes…
  22. FIRST QUARTER 2013 – PDC Energy, Inc. – slide 22
    Adjusted EBITDA Reconciliation From Net Income (Loss) in millions, except share and per share data Three Months Ended March 31, 2013 2012 Net income (loss) (39.4) 15.8 (1) Unrealized (gain) loss on derivatives, net 30.7 (1.5)…
  23. FIRST QUARTER 2013 – PDC Energy, Inc. – slide 23
    Adjusted EBITDA Reconciliation From Net Cash From Operating Activities in millions, except share and per share data Three Months Ended March 31, 2013 2012 Net cash from operating activities 44.3 44.3 Interest expense, net 13.4…

From the store

Browse maps, data & reports in the Shale Experts store