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Penn Virginia Energy Inc
Jefferies 2011 Global Energy Conference
| H. Baird Whithead | Page 14 of 11 |
February 11, 2016
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"Jefferies 2011 Global Energy Conference"
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14 High-Margin, Liquid-Rich Reserves and Production Mid-Continent: Liquids-Rich Play Types Anadarko Basin • Positioning – CHK development drilling JV • ~10,000 net acres in Washita Co. • Operate about one-third; ~28% WI • ~80 drilling locations in JV as of YE10 – ~40,000 net acres in other exploratory plays • Testing to resume in 2012 and 2013 • Reserve Characteristics / Geology – Granite Wash: 48% liquids; attractive IRRs – Other play types: Tonkawa, Cleveland, Viola, St. Louis, Springer, other – Historical EURs > 5.0 Bcfe; assuming 4.0 Bcfe for remaining wells • 2011 Activity – Up to 20 (8.7 net) Granite Wash wells – Non-operated drilling – Up to $89MM of CAPEX (20% of total) Note: Based on 11/2/11 operational update