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Penn Virginia Energy Inc
Howard Weil Inc 39th Annual Energy Conference - Investor Presentation
| H. Baird Whitehead | Page 20 of 11 |
April 20, 2014
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"Howard Weil Inc 39th Annual Energy Conference - Investor Presentation"
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20 2011 Guidance Table Production: Natural gas (Bcf) 37.4 - 39.6 Crude oil (MBbls) 1,100 - 1,300 NGLs (MBbls) 1,000 - 1,100 Equivalent production (Bcfe) 50.0 - 54.0 Equivalent daily production (MMcfe per day) 137.0 - 147.9 Operating expenses: Lease operating ($ per Mcfe)* $ 0.75 - 0.80 Gathering, processing and transportation costs ($ per Mcfe)* $ 0.32 - 0.33 Production and ad valorem taxes (percent of oil and gas revenues)* 6.5% - 7.0% General and administrative* $ 44.5 - 45.5 Equity-based compensation $ 6.0 - 8.0 Exploration $ 45.0 - 50.0 Depreciation, depletion and amortization ($ per Mcfe) $ 2.75 - 3.00 Capital expenditures: Development drilling $ 205.0 - 225.0 Exploratory drilling $ 40.0 - 52.0 Pipeline, gathering, facilities $ 8.0 - 11.0 Seismic $ 17.0 - 21.0 Lease acquisitions, field projects and other $ 30.0 - 36.0 Total oil and gas capital expenditures $ 300.0 - 345.0 Full-Year 2011 Guidance * Prior to the sale of PVG, these line items were combined for guidance purposes and shown as "Cash operating expenses" with the Corporate G&A expenses reflected separately. With the sale of PVG, PVA will operate in only one industry segment. As such, we believe that a more detailed breakdown of these operating expenses, and presentation of consolidated G&A, will provide more useful guidance information to investors.