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SRC Energy
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May 2019 Corporate Presentation
| Lynn A. Peterson | Page 2 of 11 |
June 12, 2025
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"May 2019 Corporate Presentation "
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Forward-looking Statements and Other Disclaimers This presentation contains “forward-looking statements” within the meaning of Section 7A of the Securities Act of 1933 and Section 1E of the Securities Exchange Act of 1934. All statements, other than statements of historical fact, included in this presentation that address activities, events or developments that SRC Energy Inc. (the “Company”) expects, believes or anticipates will or may occur in the future are forward-looking statements. Forward-looking statements contained in this presentation include statements, estimates and projections regarding the availability of midstream services and infrastructure and the Company's future financial position, operations, performance, costs, business strategy, oil and natural gas reserves, drilling program, capital expenditure budget and sources of financing for the budget, liquidity and capital resources, the timing and success of projects, derivative activities. The words “estimate,” “project,” “predict,” “believe,” “expect,” “anticipate,” “potential,” “could,” “may,” “foresee,” “plan,” “goal” or other similar expressions that convey the uncertainty of future events or outcomes are intended to identify forward-looking statements. However, the absence of these words does not mean that the statements are not forward-looking. These statements are based on certain assumptions made by the Company based on management's experience, expectations and perception of historical trends, current conditions, anticipated future developments and other factors believed to be appropriate. Forward-looking statements are not guarantees of performance. Although the Company believes the expectations reflected in its forward-looking statements are reasonable and are based on reasonable assumptions, no assurance can be given that these assumptions are accurate or that any of these expectations will be achieved (in full or at all) or will prove to have been correct. Moreover, such statements are subject to a number of assumptions, risks and uncertainties, many of which are beyond the control of the Company, which may cause actual results to differ materially from those implied or expressed by the forward-looking statements. These include the risk factors discussed or referenced in the Company's most recent Form 10-K; risks relating to declines in the prices the Company receives, or sustained depressed prices the company receives, for its oil and natural gas; uncertainties about the estimated quantities of oil and natural gas reserves; drilling and operating risks; the adequacy of the Company’s capital resources and liquidity including, but not limited to, access to additional borrowing capacity under the Company’s credit facility; the effects of government regulation, permitting and other legal requirements, including new legislation or regulation of hydraulic fracturing and the export of oil and natural gas; the impact of potential changes in the Company’s credit ratings; environmental hazards, such as uncontrollable flows of oil, natural gas, brine, well fluids, toxic gas or other pollution into the environment, including groundwater contamination; difficult and adverse conditions in the domestic and global capital and credit markets; risks related to the concentration of the Company’s operations in the DJ Basin of northeast Colorado; disruptions to, capacity constraints in or other limitations on the pipeline systems that deliver the Company’s oil, natural gas liquids and natural gas and other processing and transportation considerations; the costs and availability of equipment, resources, services and personnel required to perform the Company’s drilling and operating activities; potential financial losses or earnings reductions from the Company’s commodity price risk-management program; risks and liabilities related to the integration of acquired properties or businesses; uncertainties about the Company’s ability to replace reserves and economically develop its current reserves; general economic and business conditions, either internationally or domestically; competition in the oil and natural gas industry; uncertainty concerning the Company’s assumed or possible future results of operations; and other important factors that could cause actual results to differ materially from those projected. Estimates of the net present value of a property do not necessarily correspond to the current or future fair market value of the property in part due to the foregoing risks and uncertainties. We calculated the example per-well economics figures on slide 7 based on the assumptions set forth in the notes on that slide, results from other wells we have drilled on our acreage and our judgment regarding the expected performance of future wells. The example results may not be representative of expected results for all locations and results from individual wells may vary widely. Accordingly, you should not place undue reliance on any of the Company’s forward-looking statements. Any forward-looking statement speaks only as of the date on which such statement is made, and the Company undertakes no obligation to correct or update any forward-looking statement, whether as a result of new information, future events or otherwise, except as required by applicable law.