Credit Suisse Energy Summit. February 6, 2013 NASDAQ: PDCE
|
|
- Sandra Reynolds
- 5 years ago
- Views:
Transcription
1 Credit Suisse Energy Summit February 6, 2013 NASDAQ: PDCE
2 Disclaimer The following information contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of These forward-looking statements are based on Management s current expectations and beliefs, as well as a number of assumptions concerning future events. These statements are based on certain assumptions and analyses made by Management of PDC Energy, Inc. ( PDC or the Company ) in light of its experience and its perception of historical trends, current conditions and expected future developments as well as other factors it believes are appropriate in the circumstances. However, whether actual results and developments will conform with Management s expectations and predictions is subject to a number of risks and uncertainties, general economic, market or business conditions; the opportunities (or lack thereof) that may be presented to and pursued by PDC; actions by competitors; changes in laws or regulations; and other factors, many of which are beyond the control of the Company. In particular, the transaction described herein may not close in the timeframe PDC expects or at all, and the anticipated benefits of the transaction for PDC may not materialize. You are cautioned not to put undue reliance on such forward-looking statements because actual results may vary materially from those expressed or implied, as more fully discussed in the safe harbor statements found in PDC s SEC filings, including, without limitation, the discussion under the heading Note Regarding Forward Looking Statements and Risk Factors and elsewhere in the Company s most recent annual report on Form 10-K and in subsequent Form 10-Qs. All forward-looking statements are based on information available to Management on this date and the Company assumes no obligation to, and expressly disclaims any obligation to, update or revise any forward looking statements, whether as a result of new information, future events or otherwise. The SEC permits oil and gas companies to disclose in their filings with the SEC proved reserves, probable reserves and possible reserves. SEC regulations define proved reserves as those quantities of oil or gas which, by analysis of geosciences and engineering data, can be estimated with reasonable certainty to be economically producible in future years from known reservoirs under existing economic conditions, operating methods and government regulations; probable reserves as unproved reserves which, together with proved reserves, are as likely as not to be recovered; and possible reserves as unproved reserves which are less certain to be recovered than probable reserves. Estimates of probable and possible reserves which may potentially be recoverable through additional drilling or recovery techniques are by nature more uncertain than estimates of proved reserves and accordingly are subject to substantially greater risk of not actually being realized by the Company. In addition, the Company s reserves and production forecasts and expectations for future periods are dependent upon many assumptions, including estimates of production decline rates from existing wells, the effects of midstream constraints, and the undertaking and outcome of future drilling activity, which may be affected by significant commodity price declines or drilling cost increases. This material also contains certain non-gaap financial measures as defined under the Securities and Exchange Commission rules. 2/6/2013 2
3 Company Overview Market cap ~$1.1 Billion (1) Enterprise value ~$1.8 Billion (1) Proved reserves 1.2 Tcfe (193 MMBoe) (2) 48% liquids, 42% proved developed Does not include anticipated future contributions from Utica Shale position 3P reserves 3.6 Tcfe (600 MMBoe) (2) 51% liquids Significant inventory of low risk horizontal development projects in liquid-rich Wattenberg and Marcellus Considerable growth in resource potential still remains in Marcellus and Utica Growing liquids component of reserves and production ~37% of production comprised of liquids at year-end 2012 Strategic Core Areas Colorado and Appalachian Basin Liquid-Rich Basins (4) (1) Company estimate as of 1/31/2013. (2) Year-end /6/2013 3
4 PDC Signs Definitive Agreement to Sell Non-Core Colorado Assets Colorado Natural Gas Assets: Piceance, NECO, Krieger, SECO Offer Amount: ~$200 million cash Includes certain PDC Hedges for Buyer assumption of all PDC Firm Transportation Obligations Effective Date: January 1, 2013 Estimated Closing Date: Second Quarter, YE Proved Reserves: 85 Bcfe, 99% gas, 100% PDP 2013 Est. Net Production: 10 Bcfe (April December) Net Acres: 106,000 (primarily NECO) Use of Proceeds: Pay down revolver; place majority of proceeds into short-term cash awaiting reinvestment Along with internally generated cash flow, more than fully funds previously announced 2013 capital budget Positions the Company to accelerate the liquid-rich Wattenberg and Utica Shale horizontal programs 2/6/2013 4
5 PDC Positioned to Accelerate Liquid-Rich Horizontal Wattenberg & Utica Focuses PDC on three premier horizontal plays with decade-plus drilling inventory Liquid-rich: Core Wattenberg (Niobrara & Codell) and Utica Shale Prolific natural gas: West Virginia Marcellus Major step in corporate transition to high quality, liquid-rich asset base 3P reserves decrease from 3.6 Tcfe (600 MMBoe) to 3.5 Tcfe (583 MMBoe) pro forma for transaction Improves corporate metrics; increases per-unit margins; improves long-term growth profile Strengthens balance sheet and debt metrics Total Proved Reserves (1P) 2012 Year-End 2012 Proforma Total Reserves (Bcfe) 1,157 1,072 Total Reserves (MMBoe) NGL/Oil Mix 48% 52% Note: Beginning in 2013, PDC will report production and reserves in barrels equivalent. 2/6/2013 5
6 Key Investment Themes Stable base of production from long-lived assets in Colorado and Appalachia Substantial portfolio of high return, liquid-rich projects Core Wattenberg horizontal Niobrara play increasing from two to three horizontal rigs in 2013 One of top economic return horizontal plays in the U.S. at current costs and commodity prices (40% to 123% IRR) (1) ~1,400 horizontal locations (2P) identified with additional potential through further downspacing Liquid-rich position in emerging Utica Shale play with approximately 200 gross locations Sizable Marcellus Shale leasehold position in core area of northern West Virginia Solid balance sheet with ample liquidity Operational flexibility to allocate capital: largely HBP acreage and operated assets Significant gas & oil hedge positions through 2013 to protect cash flow Consistent History of Double-Digit Production and Reserve Growth (1) Flat Pricing: $90 NYMEX Oil, $3.50 NYMEX Gas. Excludes lease acquisition and corporate-level costs. 2/6/2013 6
7 YE2012 Reserve Summary Area PDCE Reserves Comparison YE2011 YE2012 Total Proved (Bcfe) 1,016 1,157 PDP (Bcfe) % Liquids 34% 48% PV-10 Value (MM$) $1,350 $1,709 SEC Product Pricing Gas ($/MMbtu) $4.12 $2.76 SEC Product Pricing Oil ($/Bbl) $96.19 $94.71 SEC Product Pricing NGLs ($/Bbl) $51.94 $37.29 PDP Reserves (Bcfe) PDNP Reserves (Bcfe) PUD Reserves (Bcfe) Total Proved Reserves (Bcfe) Wattenberg Appalachia Piceance NECO Total PDCE ,157 3P Reserves (internal estimates) increased over 70% from 2.1 Tcfe (YE 11) to 3.6 Tcfe (YE 12). 2/6/2013 7
8 Production Summary Continuing Operations Total Net Production (Bcfe) Exit Rate (Mmcfe/d) December 2012 Commodity Mix December 2012 Area Production by Commodity Oil NGLs Gas 100% Oil 27% 80% 60% 40% Rocky Mountains (90%) Gas 63% NGLs 10% 20% 0% Wattenberg Appalachia Piceance NECO/ Other 2/6/2013 8
9 Core Wattenberg Horizontal Niobrara Third largest leaseholder and producer in the core Wattenberg Field ~103,000 net acres in core area (~109,000 total) (1) 70%-80% liquids Typical EURs from 300 to 500 MBoe Excellent returns IRR of 40% - 123% (2) ~1,400 identified 2P horizontal Niobrara and Codell locations PDCE and peers are achieving strong economic results on a consistent basis across core Wattenberg (1) Subject to new Wattenberg acquisition post-closing adjustments. (2) Flat Pricing: $90 NYMEX Oil, $3.50 NYMEX Gas. Excludes lease acquisition and corporate-level costs. 2/6/2013 9
10 PDC Core Wattenberg Horizontal Program PDC Average Peak 24 Hr and 30 Day IP in Boepd North 2012 Spuds: 37 Producing Wells: 31 Avg Peak 24 Hr IP: 513 Avg 30 Day IP: 394 ~% Liquids: 65 85% PDC Core Wells Avg Peak 24 Hr IP: 517 Avg 30 Day IP: 403 Center 2012 Spuds: 0 Producing Wells: 2 Avg Peak 24 Hr IP: 573 Avg 30 Day IP: 521 ~% Liquids: 40 70% South 2012 Spuds: 0 Producing Wells: 0 Industry achieving Boepd 2/6/
11 DJ Basin Stratigraphic Column Multiple Target Zones Current PDC Horizontal Program Data Drilling 3 to 5 well pads ~4,000 average lateral length 16 frac stages per well Drill time of days spud to spud Sliding sleeves, swell/ HYD packers Niobrara Formation Productive Interval and Niobrara A, B, & C Chalk Benches Downspacing (2012) Test Codell for Horizontal Productivity Codell Sandstone (2012) Other DJ Basin Zones with HZ Potential Greenhorn Limestone and Graneros Shale 2/6/
12 Wattenberg Project Inventory Proved HZ Inventory 2P HZ Inventory* 3P HZ Inventory* 4 Gross wells per 640 Ac. Gross HZ Inventory: Gross wells per 640 Ac. (8 Niobrara, 2 Codell) Gross HZ Inventory: ~1, Gross wells per 640 Ac. (12 Niobrara, 4 Codell) Gross HZ Inventory: ~2,000 *Vertical wells may or may not be present. 2/6/
13 Horizontal Production: Niobrara and Codell (1) Flat Pricing: $90 NYMEX Oil, $3.50 NYMEX Gas. 3-stream production. 2/6/
14 Wattenberg Production 2/6/
15 Midstream Provider Throughput (Wattenberg) 2/6/
16 Midstream Activity Summary Wattenberg Third Party Providers Expansion Projects Current Capacity 445 MMcf/d LaSalle Plant - Wells Ranch Booster - Additional Compressor Stations MMcf/d Under Construction LaSalle Expansion 50 MMcf/d Permit Pending Lucerne Plant 2 - Additional Boosters MMcf/d Permits Submitted Plant 10 - Additional Boosters MMcf/d Permits Submitted 100% Capacity Increase Future Capacity 1,065 MMcf/d Front Range NGL pipeline expected to add MBpd/d Mont Belvieu access November /6/
17 Utica Leasehold and Asset Summary Southeast Ohio Activity update PDC and other operators recent reported drilling results have exceeded expectations Wells drilled by PDC and other operators in and around PDC s leasehold have helped to accelerate de-risking of the play Plan to spend $53 million in 2013 Drill, complete and connect 5 horizontal wells across acreage position $7 million for leasehold acquisitions The 2012 and 2013 drilling programs should test a substantial portion of PDC s leasehold Leasehold and asset summary ~45,000 contiguous net acres, primarily located in the gascondensate window Average 95% WI, 16% royalty, ~57% HBP Inventory of ~200 gross horizontal drilling locations Large resource potential with high liquids content Midstream Plan to finalize midstream strategy and marketing arrangements in Q First sales from PDC horizontal wells expected in Q PDCE Onega- Commissioners #14-25H IP: 1,796 boepd PDCE Stiers 3-Well Hz Pad (Planned 2013 Spud) Spencer A-1H & A-5H IP: 436 boepd Brookfield A-3H IP: 575 boepd PDCE Palmer #44-20 (Vertical Test Well) Oil Wet Gas Condensate Dry Gas Ryser 1-25H IP: 2,914 boepd PDCE Maxwell Hz Well (Planned 2013 Spud) Boy Scout 1-33H IP: 3,456 boepd Sanford 1H Strong results APC BK Stephens 1-16H IP: 3,007 boepd Groh 1-12H IP: 1,935 boepd PDCE Detweiler #42-3H Miley 5HA Strong results Rubel 1H Strong results PDCE Garvin 1H (Planned 2013 Spud) Wagner 1-28H IP: 4,650 boepd Shugert 1-12H IP: 7,482 boepd PDCE Hickenbottom (Vertical well) Whitacre 5H 2/6/
18 Appalachian Basin PDCM Project Overview Devonian Marcellus Productive Wells 3, Total Approx. Net Acreage 236, ,000* West Virginia 195, ,000 Pennslyvania 41,000 9,000 EURs - horizontal Marcellus wells (Bcf) 5-7 * Subject to certain post-closing adjustments from Seneca-Upshur acquisition. Marcellus Activity Update Completed 3-well pad, hooked up Nov. 2012; recommence drilling program in Q PDCM Acreage Existing Industry Wells PDCM is a 50 / 50 joint venture between PDC and Lime Rock Partners Majority of leasehold is held by production Note: Totals reflect gross ownership of PDC Mountaineer, LLC (PDCM) at year-end /6/
19 Marcellus Focus Area Hz Inventory Undeveloped Locations Core Focus Area 357 Outside Focus Area 243 Total 600 Marcellus Activity Horizontal Wells Harrison County Taylor County 8 7 Vertical Wells 15 Total 30 West Virginia PDCM Marcellus Acreage 2/6/
20 Marcellus Horizontal 2/6/
21 2013 Capital Budget 2013 Capex Budget by Region: $372 Million Wattenberg (1) Utica PDCM 50% Other Area Capital Budget ($MM) Operated Horizontal Rigs 68% 14% Wattenberg $ % 13% Utica $53 1 Other $17-95% of Capex allocated to liquids-rich projects 90% of Capex allocated to development projects PDCM s (50/50 Joint Venture) capital budget is expected to be funded by the JV s cash flow and borrowings under the JV s revolving credit facility Sub-Total $ Marcellus Shale (PDCM 50%) $48 1 Total $ Development Projects Focused on Low-Risk Liquid-Rich Areas (1) Includes horizontal Niobrara drilling program of 63 operated wells, ~50 refrac and recomplete stages, and $30 million for non-operated projects. 2/6/
22 Strong Balance Sheet PDC has Maintained Relatively Low Leverage and Strong Liquidity Conservative Leverage Strong Liquidity (1) ($MM) 44% 45% $ x 43% 43% 50% $393 34% 33% 2.8x 2.8x 2.8x 40% $400 $ x 1.7x 1.9x 30% 2.0x 1.6x $300 $231 $238 20% $180 $ x $200 10% 0.0x 0% $ LTM PF as of 9/30/12 9/30/2012 $- Debt/Adj. EBITDAX Debt to Capitalization As of PF as of 9/30/2012 9/30/ x 8.x 5.x 3.x 8.4x Adj. EBITDAX (2) / Interest, net 4.9x 4.9x 5.3x 5.4x 5.8x PF Debt Maturity Schedule ($MM) $450 $410 (1) Undrawn Revolver 3.25% Convertible Notes due % Notes due 2022 $115 $500 0.x LTM 9/30/12 PF as of 9/30/ $ (1) Pro-forma as of 9/30/2012; excludes PDCM. Pro forma for $500mm High Yield Notes offering and October 31, 2012 borrowing base redetermination. (2) Adjusted EBITDAX: Earnings before Interest, Taxes, Depreciation, Depletion & Amortization, Exploration Expense, Impairment of natural gas and crude oil properties, and excluding unrealized gain or loss on derivatives. Adjusted EBITDAX is a non-gaap measure.; see appendix for reconciliation to GAAP. 2/6/
23 Crude Oil and Natural Gas Hedges Hedges in Place as of December 31, 2012 Crude Oil (includes NGL) NYMEX Average (1) $92.75 $92.36 $90.26 Weighted-Average Hedge Price With Ceilings $99.74 $ $ Weighted-Average Hedge Price With Floors $88.75 $86.59 $90.00 Hedge Volumes (MBBL) 2,327 1, Natural Gas NYMEX Average (1) $3.54 $4.03 $4.23 Weighted-Average Hedge Price With Ceilings (2) - $4.02 $4.09 Weighted-Average Hedge Price With Floors (3) $4.26 $3.95 $3.97 Hedge Volumes (MMcf) 28,710 19,333 13,610 (1) As of 12/31/2012 Strip Price. (2) Hedge price is at PEPL, NYMEX, and CIG; Ceilings are immaterial in (3) Hedge price is at PEPL, NYMEX, and CIG; Includes Swaps and Floors. 2/6/
24 Investment Highlights Significant horizontal projects in inventory Core Wattenberg Niobrara and Codell Utica Shale in SE Ohio West Virginia / Marcellus Capital currently allocated to projects that increase liquids-mix in production and proved reserves Operational flexibility; largely HBP and operated Positioned to execute multi-year organic growth of production, cash flow and proved reserves Focused on improving cash margins through low-cost operations and midstream / marketing initiatives Significant operating expertise in focus areas Proactive hedging strategy helps protect cash flow 2/6/
25 Appendix 2/6/
26 Adjusted EBITDAX Reconciliation Full Year Full Year Full Year Full Year LTM /30/2012 Net income (loss) $113.3 ($79.3) $6.2 $13.4 ($12.9) Unrealized (gain) loss on derivatives, net 1 (117.5) (12.6) (28.6) 24.9 Interest expense, net Income taxes expense (benefit) 61.5 (45.6) (7.7) Impairment of natural gas & crude oil properties Depreciation, depletion & amortization Adjusted EBITDA $211.5 $167.9 $149.4 $188.3 $214.8 Exploration expense Adjusted EBITDAX $231.0 $181.9 $163.1 $194.5 $223.7 (1) Includes natural gas marketing activities. (2) Includes accretion of asset retirement obligations 2/6/
27 Contact Information Investor Relations Ron Wirth, Vice President Finance and Treasurer Marti Dowling, Investor Relations Manager Corporate Headquarters PDC Energy, Inc Sherman Street Suite 3000 Denver, CO Website 2/6/
August 26, 2015 HEIKKINEN ENERGY CONFERENCE
August 26, 2015 HEIKKINEN ENERGY CONFERENCE Forward Looking Statements This presentation contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 ("Securities
More informationDecember 9, CAPITAL ONE SECURITIES 10 th ANNUAL ENERGY CONFERENCE
CAPITAL ONE SECURITIES 10 th ANNUAL ENERGY CONFERENCE Forward Looking Statements This presentation contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 ("Securities
More informationMIZUHO SECURITIES. January 24, 2014 NASDAQ:PDCE
MIZUHO SECURITIES January 24, 2014 NASDAQ:PDCE Forward Looking Statements This presentation, including verbal statements made in connection herewith, contains forward-looking statements within the meaning
More informationApril 2018 IPAA OGIS Conference. NYSE American: SRCI
April 2018 IPAA OGIS Conference NYSE American: SRCI Forward-looking Statements and Other Disclaimers This presentation contains forward-looking statements within the meaning of Section 27A of the Securities
More informationAntero Resources Reports Second Quarter 2013 Financial Results, Utica First Production and Well Rates
Antero Resources Reports Second Quarter 2013 Financial Results, Utica First Production and Well Rates Highlights: Net daily production averaged 458 MMcfe/d, up 115% over second quarter 2012 production
More informationAntero Resources Reports First Quarter 2013 Results
Antero Resources Reports First Quarter 2013 Results DENVER, May 13, 2013 /PRNewswire/ -- Highlights: Net daily production averaged 383 MMcfe/d, up 114% over first quarter 2012 production from continuing
More informationPetroleum Development Corporation
PROSPECTUS SUPPLEMENT (To prospectus dated January 20, 2012) 6,500,000 Shares Petroleum Development Corporation (Doing Business as PDC Energy) Common Stock We are selling 6,500,000 shares of our common
More informationThird Quarter 2016 Earnings Call Presentation October 27, 2016
Third Quarter 2016 Earnings Call Presentation October 27, 2016 FORWARD-LOOKING STATEMENTS This presentation contains forward-looking statements within the meaning of Section 27A of the Securities Act of
More informationPDC Energy Announces 2017 Full-Year and Fourth Quarter Operating and Financial Results Including Year-Over-Year Oil Production Increase of 48 Percent
February 26, 2018 PDC Energy Announces 2017 Full-Year and Fourth Quarter Operating and Financial Results Including Year-Over-Year Oil Production Increase of 48 Percent DENVER, Feb. 26, 2018 (GLOBE NEWSWIRE)
More informationAntero Resources Reports Second Quarter 2017 Financial and Operational Results and Increases 2017 Production Guidance
NEWS RELEASE Antero Resources Reports Second Quarter 2017 Financial and Operational Results and Increases 2017 Production Guidance 8/2/2017 DENVER, Aug. 2, 2017 /PRNewswire/ -- Antero Resources Corporation
More informationEnerCom The Oil and Gas Conference 23
EnerCom The Oil and Gas Conference 23 Forward Looking Statements This presentation contains certain forward-looking statements within the meaning of the federal securities laws, including the safe harbor
More informationCARRIZO OIL & GAS, INC. ANNOUNCES FIRST QUARTER RESULTS AND INCREASES 2016 PRODUCTION GUIDANCE
News PRESS RELEASE Contact: Jeffrey P. Hayden, CFA, VP - Investor Relations (713) 328-1044 Kim Pinyopusarerk, Manager - Investor Relations (713) 358-6430 CARRIZO OIL & GAS, INC. ANNOUNCES FIRST QUARTER
More informationGHS 100 Energy Conference. June 24, 2014
GHS 100 Energy Conference June 24, 2014 Forward-Looking Statement Statements made in this presentation that are not historical facts are forward-looking statements within the meaning of the U.S. Private
More informationAntero Resources Reports Third Quarter 2013 Financial and Operational Results
Antero Resources Reports Third Quarter 2013 Financial and Operational Results Highlights: Net daily production averaged 566 MMcfe/d, a 25% increase over second quarter 2013 and a 128% increase over third
More informationCiti 2014 MLP/Midstream Infrastructure Conference. August 20-21, 2014
Citi 2014 MLP/Midstream Infrastructure Conference August 20-21, 2014 Forward-Looking Statement Statements made in this presentation that are not historical facts are forward-looking statements within the
More informationCredit Suisse 3 rd Annual MLP & Energy Logistics Conference June 23, 2015
Credit Suisse 3 rd Annual MLP & Energy Logistics Conference June 23, 2015 Forward-Looking Statement Statements made in this presentation that are not historical facts are forward-looking statements within
More informationOctober PetroShare Corp. (OTCQB:PRHR) Corporate Presentation
October 2018 PetroShare Corp. (OTCQB:PRHR) Corporate Presentation Forward Looking Statements & Key Statistics PetroShare Corp. ( PetroShare ) cautions that this presentation (along with oral commentary
More informationAntero Resources Reports Third Quarter 2013 Financial and Operational Results
Antero Resources Reports Third Quarter 2013 Financial and Operational Results DENVER, Nov. 6, 2013 /PRNewswire/ -- (Logo: http://photos.prnewswire.com/prnh/20131101/la09101logo) Highlights: Net daily production
More informationFirst Quarter 2016 Earnings Call Presentation April 28, 2016
First Quarter 2016 Earnings Call Presentation April 28, 2016 FORWARD-LOOKING STATEMENTS This presentation contains forward-looking statements within the meaning of Section 27A of the Securities Act of
More informationCARRIZO OIL & GAS, INC.
News PRESS RELEASE Contact: Jeffrey P. Hayden, CFA, VP - Investor Relations (713) 328-1044 David L. Pitts, Chief Financial Officer (713) 328-1000 CARRIZO OIL & GAS, INC. ANNOUNCES STRONG FOURTH QUARTER
More information2015 NAPTP MLP Investor Conference. May 21, 2015
2015 NAPTP MLP Investor Conference May 21, 2015 Forward-Looking Statement Statements made in this presentation that are not historical facts are forward-looking statements within the meaning of the U.S.
More informationEV Energy Partners, L.P. Wells Fargo Energy Symposium
EV Energy Partners, L.P. Wells Fargo Energy Symposium December 9-10, 2014 Forward-Looking Statement Statements made in this presentation that are not historical facts are forward-looking statements within
More informationAntero Resources Reports Fourth Quarter and Full Year 2016 Financial and Operational Results
Antero Resources Reports Fourth Quarter and Full Year 2016 Financial and Operational Results Denver, Colorado, February 28, 2017 Antero Resources Corporation (NYSE: AR) ( Antero or the Company ) today
More informationEnerCom s The Oil & Gas Conference. August 15, 2012
EnerCom s The Oil & Gas Conference August 15, 2012 Overview of Operations 16 Bakken Tulsa based company founded in 1963 with long history of operations in the Mid-Continent Integrated approach to business
More informationENERGY + TECHNOLOGY = GROWTH A STRONGER COMPANY
Whiting Petroleum Corporation ENERGY + TECHNOLOGY = GROWTH A STRONGER COMPANY SET TO PROSPER AT CURRENT PRICES PESA Annual Meeting April 23, 2015 Forward-Looking Statements, Non-GAAP Measures, Reserve
More informationGOLDMAN SACHS ENERGY CONFERENCE. January 9, 2018
GOLDMAN SACHS ENERGY CONFERENCE January 9, 2018 Forward-Looking Statements This presentation contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 ("Securities
More informationJ. Russell Porter Chief Executive Officer
J. Russell Porter Chief Executive Officer November 2012 E X P A N D I N G O U R H O R I Z O N S Cautionary Statement CAUTIONARY STATEMENTS RELEVANT TO FORWARD-LOOKING INFORMATION FOR THE PURPOSE OF SAFE
More informationRice Midstream Partners First Quarter 2016 Supplemental Slides May 4,
Rice Midstream Partners First Quarter 2016 Supplemental Slides May 4, 2016 1 www.ricemidstream.com RMP: High Growth MLP in Prolific Appalachian Basin TOP-TIER GROWTH DRIVEN BY ACTIVE CUSTOMERS Strategically
More informationIPAA Oil and Gas Investment Symposium
IPAA Oil and Gas Investment Symposium Investor Presentation April 9-10, 2018 Nasdaq Ticker: PVAC November 2016 Forward Looking and Cautionary Statements Certain statements contained herein that are not
More informationEV Energy Partners, L.P. Citi MLP/Midstream Infrastructure Conference
EV Energy Partners, L.P. Citi MLP/Midstream Infrastructure Conference August 17, 2016 Forward-Looking Statement Statements made in this presentation that are not historical facts are forward-looking statements
More informationENERCOM S THE OIL AND GAS CONFERENCE. August 14, 2017
ENERCOM S THE OIL AND GAS CONFERENCE August 14, 2017 Forward-Looking Statements This presentation contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 ("Securities
More informationBAML 2017 GLOBAL ENERGY CONFERENCE November 16, 2017
BAML 2017 GLOBAL ENERGY CONFERENCE November 16, 2017 Forward-Looking Statements This presentation contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 ("Securities
More informationCarrizo Oil & Gas, Inc.
Management S.P. Chip Johnson, IV, Pres & CEO David L. Pitts, VP - CFO Brad Fisher, VP - COO Dick Smith, VP - Land Greg Conaway, VP CAO Jim Pritts, VP Bus Dev www.crzo.net EPG Commentary by Dan Steffens
More informationSecond Quarter 2016 Earnings Call Presentation August 3, 2016
Second Quarter 216 Earnings Call Presentation August 3, 216 FORWARD-LOOKING STATEMENTS This presentation contains forward-looking statements. All statements, other than statements of historical facts,
More informationRESILIENT Annual Report
RESILIENT 2014 Annual Report ELEVATED RESILIENCE Proved Reserves MMBoe Total Proved Reserves Total Liquid Percent 266 250 143 169 193 24% 34% 48% 54% 64% 2010 2011 2012 2013 2014 STRATEGIC POSITIONING
More informationCarbon Energy Corporation
Carbon Energy Corporation Annual Meeting Presentation June 14, 2018 1 IMPORTANT DISCLOSURES Forward-Looking Statements The slides contain certain forward-looking statements within the meaning of Section
More informationEV Energy Partners, L.P J.P. Morgan Global High Yield and Leveraged Finance Conference
EV Energy Partners, L.P. 2016 J.P. Morgan Global High Yield and Leveraged Finance Conference March 1, 2016 Forward-Looking Statement Statements made in this presentation that are not historical facts are
More informationAntero Resources Reports Fourth Quarter and Year- End 2013 Financial and Operating Results
Antero Resources Reports Fourth Quarter and Year- End 2013 Financial and Operating Results February 26, 2014 DENVER, Feb. 26, 2014 /PRNewswire/ -- (Logo: http://photos.prnewswire.com/prnh/20131101/la09101logo)
More informationCapturing the Core: Transformative Acquisition of Vantage Energy Inc. September 26, 2016
RICE MIDSTREAM PARTNERS Capturing the Core: Transformative Acquisition of Vantage Energy Inc. September 26, 2016 1 www.riceenergy.com Acquisition Summary Enhancing Core, Dry-Gas Position in Appalachia
More informationEV Energy Partners, L.P RBC Capital Markets' MLP Conference. November 18, 2015
EV Energy Partners, L.P. 2015 RBC Capital Markets' MLP Conference November 18, 2015 Forward-Looking Statement Statements made in this presentation that are not historical facts are forward-looking statements
More informationCompany Overview. March 2012
Company Overview March 2012 Forward-Looking Statements This presentation contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities
More informationInvestor Presentation J.P. Morgan Global High Yield and Leveraged Finance Conference FEBRUARY 2016
Investor Presentation J.P. Morgan Global High Yield and Leveraged Finance Conference FEBRUARY 2016 Forward-Looking Statements and Other Disclaimers This presentation contains forward-looking statements
More informationTuesday, August 7,
NEWS ENERGEN CORPORATION 605 Richard Arrington Jr. Blvd. N. Birmingham, AL 35203-2707 For Release: 6:00 a.m. ET Contacts: Julie S. Ryland Tuesday, August 7, 2018 205.326.8421 ENERGEN PRODUCTION IN 2Q18
More informationNYSE MKT: SYRG. At Home In the Wattenberg
NYSE MKT: SYRG At Home In the Wattenberg Corporate Presentation / June 2016 Forward Looking Statements & Key Statistics This presentation contains forward-looking statements, within the meaning of the
More informationSecond Quarter 2017 Earnings Presentation
Second Quarter 2017 Earnings Presentation August 9, 2017 Investor Presentation November 2016 Nasdaq Ticker: PVAC Forward Looking and Cautionary Statements Certain statements contained herein that are not
More informationOctober PetroShare Corp. (OTCQB:PRHR) Corporate Presentation
October 2017 PetroShare Corp. (OTCQB:PRHR) Corporate Presentation Forward Looking Statements & Key Statistics PetroShare Corp. ( PetroShare ) cautions that this presentation (along with oral commentary
More informationRex Energy Exceeds Third Quarter Production Guidance and Discloses Initial Horizontal Utica Shale Well Results
Rex Energy Exceeds Third Quarter Production Guidance and Discloses Initial Horizontal Utica Shale Well Results Company exceeds third quarter production high case guidance by 4% Third quarter daily production
More informationAntero Resources Reports First Quarter 2018 Financial and Operating Results
Antero Resources Reports First Quarter 2018 Financial and Operating Results Denver, Colorado, April 25, 2018 Antero Resources Corporation (NYSE: AR) ( Antero or the Company ) today released its first quarter
More informationGulfport Energy Corporation Reports Fourth Quarter and Year-End 2012 Results
February 26, 2013 Gulfport Energy Corporation Reports Fourth Quarter and Year-End 2012 Results OKLAHOMA CITY, Feb. 26, 2013 (GLOBE NEWSWIRE) -- Gulfport Energy Corporation (Nasdaq:GPOR) today reported
More informationEQT REPORTS SECOND QUARTER 2014 EARNINGS
EQT REPORTS SECOND QUARTER 2014 EARNINGS Reiterates full-year production volume guidance PITTSBURGH, PA (July 24, 2014) -- EQT Corporation (NYSE: EQT) today announced second quarter 2014 net income attributable
More informationGulfport Energy Corporation Reports Fourth Quarter and Year-End 2017 Results
February 21, 2018 Gulfport Energy Corporation Reports Fourth Quarter and Year-End 2017 Results OKLAHOMA CITY, Feb. 21, 2018 (GLOBE NEWSWIRE) -- Gulfport Energy Corporation (NASDAQ:GPOR) ( Gulfport or the
More informationSOUTHWESTERN ENERGY ANNOUNCES 2017 OPERATIONAL AND FINANCIAL RESULTS
NEWS RELEASE SOUTHWESTERN ENERGY ANNOUNCES 2017 OPERATIONAL AND FINANCIAL RESULTS Houston, Texas March 1, 2018...Southwestern Energy Company (NYSE: SWN) today announced its financial and operating results
More information2016 Results and 2017 Outlook
2016 Results and 2017 Outlook March 2, 2017 Cautionary Statement Regarding Forward-Looking Statements This presentation includes certain forward-looking statements and projections of EP Energy. EP Energy
More informationEQT REPORTS SECOND QUARTER 2016 EARNINGS Increases 2016 drilling plan
...... EQT REPORTS SECOND QUARTER 2016 EARNINGS Increases 2016 drilling plan PITTSBURGH, PA (July 28, 2016) -- EQT Corporation (NYSE: EQT) today announced second quarter 2016 net loss attributable to EQT
More informationDahlman Rose Ultimate Oil Service Conference
Dahlman Rose Ultimate Oil Service Conference December 3, 2012 Overview of Operations 16 Bakken Tulsa based company founded in 1963 with long history of operations in the Mid-Continent Integrated approach
More informationJanuary NYSE American: SRCI
January 2019 NYSE American: SRCI Forward-looking Statements and Other Disclaimers This presentation contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and
More informationParsley Energy Overview
INVESTOR PRESENTATION September 2016 Parsley Energy Overview Investment Summary Premier Acreage Position (2) Leading growth profile Robust returns Strategic acquirer Strong financial position Abundant
More informationSEAPORT GLOBAL 5 TH ANNUAL SOUTHERN CALIFORNIA ENERGY 1X1 DAY. Carrizo Oil & Gas January 11, 2017
SEAPORT GLOBAL 5 TH ANNUAL SOUTHERN CALIFORNIA ENERGY 1X1 DAY Carrizo Oil & Gas January 11, 2017 Forward Looking Statements / Note Regarding Reserves This presentation contains statements concerning the
More informationAcquisition of Oil & Gas Properties in Mid-Continent
Acquisition of Oil & Gas Properties in Mid-Continent July 11, 2012 Significant Overlap in Core Operating Area Pro forma Acreage Position in Core Mid-Continent Area Material acreage overlap with existing
More informationFirst Quarter 2018 Supplemental Presentation
First Quarter 2018 Supplemental Presentation Forward-Looking Statements and Risk Factors Statements made in this presentation that are not historical facts are forward-looking statements. These statements
More informationAntero Resources Reports Fourth Quarter and Full Year 2018 Financial and Operational Results and 2018 Reserves
February 13, 2019 Antero Resources Reports Fourth Quarter and Full Year 2018 Financial and Operational Results and 2018 Reserves DENVER, Feb. 13, 2019 /PRNewswire/ -- Antero Resources Corporation (NYSE:
More informationEARNINGS RESULTS FOURTH QUARTER 2016
EARNINGS RESULTS FOURTH QUARTER 2016 Cautionary Language This presentation contains statements, estimates and projections which are forward-looking statements (as defined in Section 21E of the Securities
More informationAnalyst Presentation November 2016
Analyst Presentation November 2016 EQT Cautionary Statements EQT Corporation (NYSE: EQT) EQT Plaza 625 Liberty Avenue, Suite 1700 Pittsburgh, PA 15222 Pat Kane - Chief Investor Relations Officer (412)
More informationHoward Weil Energy Conference
Howard Weil Energy Conference Brent Smolik Chairman, President and Chief Executive Officer EP Energy Corporation March 26, 2014 Forward Looking Statements This March 26, 2014 presentation includes certain
More informationAdjusted net income attributable to common shareholders of $26.7 million, or $0.33 per diluted share, and Adjusted EBITDA of $132.
News PRESS RELEASE Contact: Jeffrey P. Hayden, CFA, VP - Investor Relations (713) 328-1044 Kim Pinyopusarerk, Manager - Investor Relations (713) 358-6430 CARRIZO OIL & GAS ANNOUNCES THIRD QUARTER RESULTS
More informationIPAA Oil & Gas Investment Symposium April 20, 2015
IPAA Oil & Gas Investment Symposium April 20, 2015 Forward Looking Statement This presentation contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section
More informationMAY UPDATE. May 2018
MAY UPDATE May 2018 Forward Looking Statements This presentation contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 ("Securities Act"), Section 21E of the
More informationCOMPANY UPDATE March 2018
COMPANY UPDATE March 2018 Forward-Looking Statements This presentation contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 ("Securities Act"), Section 21E
More informationCHESAPEAKE ENERGY CORPORATION REPORTS FINANCIAL AND OPERATIONAL RESULTS FOR THE 2010 THIRD QUARTER
FOR IMMEDIATE RELEASE NOVEMBER 3, 2010 CHESAPEAKE ENERGY CORPORATION REPORTS FINANCIAL AND OPERATIONAL RESULTS FOR THE 2010 THIRD QUARTER Company Reports 2010 Third Quarter Net Income to Common Stockholders
More informationNYSE: WLL. WLL: Strongly Positioned The Premier Bakken & Niobrara Operator Corporate Presentation November 2016
WLL: Strongly Positioned The Premier Bakken & Niobrara Operator Corporate Presentation November 2016 Forward-Looking Statements and Non-GAAP Measures This presentation contains statements that Whiting
More informationEXCO Resources, Inc Merit Drive, Suite 1700, LB 82, Dallas, Texas (214) FAX (972)
EXCO Resources, Inc. 12377 Merit Drive, Suite 1700, LB 82, Dallas, Texas 75251 (214) 368-2084 FAX (972) 367-3559 EXCO RESOURCES, INC. REPORTS FIRST QUARTER 2012 RESULTS DALLAS, TEXAS, May 1, 2012 EXCO
More informationPDC Energy Announces 2018 First Quarter Operating and Financial Results Including Production Increase of 34% to 8.9 Million Barrels of Oil Equivalent
PDC Energy Announces 2018 First Quarter Operating and Financial Results Including Production Increase of 34% to 8.9 Million Barrels of Oil Equivalent May 2, 2018 DENVER, May 02, 2018 (GLOBE NEWSWIRE) --
More informationSOUTHWESTERN ENERGY ANNOUNCES 2015 FINANCIAL AND OPERATING RESULTS
NEWS RELEASE SOUTHWESTERN ENERGY ANNOUNCES 2015 FINANCIAL AND OPERATING RESULTS Houston, Texas February 25, 2016...Southwestern Energy Company (NYSE: SWN) today announced its financial and operating results
More informationInvestor Presentation HOWARD WEIL ENERGY CONFERENCE MARCH 2015
Investor Presentation HOWARD WEIL ENERGY CONFERENCE MARCH 2015 Forward-Looking Statements and Other Disclaimers This presentation contains forward-looking statements within the meaning of Section 27A of
More informationAnalyst Presentation October 27, 2016
Analyst Presentation October 27, 2016 EQT Cautionary Statements EQT Corporation (NYSE: EQT) EQT Plaza 625 Liberty Avenue, Suite 1700 Pittsburgh, PA 15222 Pat Kane - Chief Investor Relations Officer (412)
More informationForward-Looking & Other Cautionary Statements
Enercom s The Oil and Gas Conference 20 August 18-19, 2015 Forward-Looking & Other Cautionary Statements The following presentation includes forward -looking statements. These statements relate to future
More informationForward-Looking & Other Cautionary Statements
TPH 11 th Annual Hotter N Hell Energy Conference June 17, 2015 Forward-Looking & Other Cautionary Statements The following presentation includes forward -looking statements. These statements relate to
More informationINVESTOR PRESENTATION. February 2019
INVESTOR PRESENTATION February 2019 Disclaimer: Forward Looking Statements and Non-GAAP Information This presentation contains various statements, including those that express belief, expectation or intention,
More informationEnerCom- The Oil & Gas Conference
EnerCom- The Oil & Gas Conference Clay Gaspar, Chief Operating Officer August 16, 2016 WPX Highlights 2Q ACTION ITEMS COMPLETED $538MM EQUITY OFFERING WILLISTON BASIN ACQUIRED 7,800 NET ACRES IN DELAWARE
More informationAnalyst Presentation. October 29, 2018
Analyst Presentation October 29, 2018 Key Investment Highlights Premier Natural Gas Asset Base 680,000 core net Marcellus acres / ~2,400 undeveloped locations Contiguous acreage position allows longer
More informationLAREDO PETROLEUM ANNOUNCES 2014 THIRD-QUARTER FINANCIAL AND OPERATING RESULTS
15 West 6 th Street, Suite 900 Tulsa, Oklahoma 74119 (918) 513-4570 Fax: (918) 513-4571 www.laredopetro.com LAREDO PETROLEUM ANNOUNCES 2014 THIRD-QUARTER FINANCIAL AND OPERATING RESULTS TULSA, OK November
More informationAbraxas Petroleum. Corporate Update. February Raven Rig #1; McKenzie County, ND
Abraxas Petroleum Corporate Update February 2018 Raven Rig #1; McKenzie County, ND Forward Looking Statements The information presented herein may contain predictions,estimates and other forward looking
More informationMAY 6, 2014 INVESTOR PRESENTATION WPX STRATEGIC ALLIANCE OVERVIEW
MAY 6, 2014 INVESTOR PRESENTATION WPX STRATEGIC ALLIANCE OVERVIEW Forward-Looking Statements Statements made by representatives of Legacy Reserves LP (the Partnership ) during the course of this presentation
More informationFayetteville Shale Transaction
Fayetteville Shale Transaction Supplement to August Investor Update September 4, 2018 Forward-Looking Statements This presentation includes forward-looking statements. Forward-looking statements relate
More informationSandRidge Energy, Inc. Reports Financial and Operational Results for Fourth Quarter and Full Year of 2017 HIGHLIGHTS DURING 2017 INCLUDE:
SandRidge Energy, Inc. Reports Financial and Operational Results for Fourth Quarter and Full Year of 2017 Oklahoma City, Oklahoma, February 21, 2018 SandRidge Energy, Inc. (the Company or SandRidge ) (NYSE:SD)
More informationEQT Reports Second Quarter 2012 Earnings
July 26, 2012 EQT Reports Second Quarter 2012 Earnings Strong Operating Performance Overshadowed By Lower Commodity Prices PITTSBURGH--(BUSINESS WIRE)-- EQT Corporation (NYSE: EQT) today announced second
More informationSOUTHWESTERN ENERGY ANNOUNCES FIRST QUARTER 2018 RESULTS
NEWS RELEASE SOUTHWESTERN ENERGY ANNOUNCES FIRST QUARTER 2018 RESULTS Delivers solid operating performance and executes new credit facility Spring, Texas April 26, 2018...Southwestern Energy Company (NYSE:
More informationCredit Suisse 24 th Annual Energy Summit Bill Way, President and CEO NYSE: SWN
Credit Suisse 24 th Annual Energy Summit Bill Way, President and CEO NYSE: SWN Forward-Looking Statements This presentation contains forward-looking statements. Forward-looking statements relate to future
More information1Q18 EARNINGS OUTSTANDING EXECUTION
1Q18 EARNINGS OUTSTANDING EXECUTION MAY 3, 2018 PLEASE READ THIS PRESENTATION MAKES REFERENCE TO: Forward-looking statements This presentation contains forward-looking statements within the meaning of
More informationAntero Resources Reports First Quarter 2017 Financial and Operational Results
NEWS RELEASE Antero Resources Reports First Quarter 2017 Financial and Operational Results 5/8/2017 DENVER, May 8, 2017 /PRNewswire/ -- Antero Resources Corporation (NYSE: AR) ("Antero" or the "Company")
More informationForward Looking Statements
August 2008 Forward Looking Statements This communication contains forward-looking statements within the meaning of the U.S. Private Securities Litigation Reform Act of 1995, including statements regarding
More information947 MMcfe/d. 3.1 Tcfe
1 June 2015 Forward looking Statements This presentation contains projections and other forward looking statements within the meaning of Section 27A of the U.S. Securities Act of 1933 and Section 21E of
More informationBLUE RIDGE MOUNTAIN RESOURCES. January 2018
BLUE RIDGE MOUNTAIN RESOURCES January 2018 Forward-Looking and Cautionary Statements In general. Blue Ridge Mountain Resources, Inc., together with its subsidiaries and affiliates, is referred to in this
More informationLAREDO PETROLEUM ANNOUNCES 2014 FIRST-QUARTER FINANCIAL AND OPERATING RESULTS
15 West 6 th Street, Suite, 900 Tulsa, Oklahoma 74119 (918) 513-4570 Fax: (918) 513-4571 www.laredopetro.com LAREDO PETROLEUM ANNOUNCES 2014 FIRST-QUARTER FINANCIAL AND OPERATING RESULTS TULSA, OK May
More informationDiamondback Energy, Inc. Announces Second Quarter 2018 Financial and Operating Results and Announces Accretive Acquisition
Announces Second Quarter 2018 Financial and Operating Results and Announces Accretive Acquisition August 8, 2018 MIDLAND, Texas, Aug. 08, 2018 (GLOBE NEWSWIRE) -- (NASDAQ:FANG) ( Diamondback or the Company
More informationAbraxas Petroleum. Corporate Update. April Raven Rig #1; McKenzie County, ND
Abraxas Petroleum Corporate Update April 2018 Raven Rig #1; McKenzie County, ND Forward Looking Statements The information presented herein may contain predictions,estimates and other forward looking statements
More informationNOVEMBER 2016 INVESTOR PRESENTATION
NOVEMBER 2016 INVESTOR PRESENTATION CAUTIONARY STATEMENTS Forward Looking Statement This presentation includes "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933,
More informationCapital One Securities, Inc. Energy Conference. December 11, 2013
Capital One Securities, Inc. Energy Conference December 11, 2013 Forward-Looking Statement This presentation contains forward-looking statements within the meaning of Section 27A of the Securities Act
More informationDecember 11, WPX Energy, Inc. Capital One Securities 9th Annual Energy Conference
December 11, 2014 WPX Energy, Inc. Capital One Securities 9th Annual Energy Conference Disclaimer The information contained in this summary has been prepared to assist you in making your own evaluation
More informationAnalyst Presentation October 22, 2015
Analyst Presentation October 22, 2015 EQT Cautionary Statements EQT Corporation (NYSE: EQT) EQT Plaza 625 Liberty Avenue, Suite 1700 Pittsburgh, PA 15222 Pat Kane - Chief Investor Relations Officer (412)
More information