> YZ[\ l \pThe Free Software Foundation B=PF0*8X@"1 Helvetica1Courier1Courier New1Courier New1 Helvetica$#,##0_);($#,##0)$#,##0_);[Red]($#,##0)$#,##0.00_);($#,##0.00)$#,##0.00_);[Red]($#,##0.00)**_($* #,##0_);_($* (#,##0);_($* ""_);_(@_)*)'_(* #,##0_);_(* (#,##0);_(* ""_);_(@_)5,2_($* #,##0.00_);_($* (#,##0.00);_($* ""??_);_(@_)2+/_(* #,##0.00_);_(* (#,##0.00);_(* ""??_);_(@_)2$#,##0.00;[Red]$#,##0.003$#,##0.00;[Red]($#,##0.00)4$#,##0;[Red]($#,##00)50.00%;[Red](0.00%)60%;[Red](0%)7#,##0.00;[Red](#,##0.00)8#,##0;[Red](#,##0) + ) , * Ј ~~ ؈ ~~#؈ ~~ ؈ ~~8#܈ ~~4#܈ ~~<#܈ ~~3#܈ ~~7#܈ ~~83ffff̙̙3f3fff3f3f33333f33{SRC ENERGY INC
SIGNATURES.
Balance Sheet\PIncome Statementh
Cash Flows,Major CustomersMajor Customers (1)Change in estimatesbCapitalized OverheadDivestituresDivestitures (1)2025 Senior Notes2025 Senior Notes (1)&Offsetting of Derivative Assets&Offsetting of Derivative As (1)&Offsetting of Derivative As (2)&Offsetting of Derivative As (3)&(Fair Value Measurements and Dis&5Fair Value Measurements and (1)&BFair Value of Financial Instrum&AOFair Value of Financial Ins (1)\
Stock optionslStock options (1)&Restricted stock units and stoc&Total Shareholder Return TSR PS&Total Shareholder Return TS (1)$Corporate Goals PSUs $Corporate Goals PSUs (1)&˼14 Revenue from Contracts with
Volume CommitmentsVehicle Leases{Vehicle Leases (1)Market ConditionsMarket Conditions (1)?Core OperationsCore Operations (1)&,Oil Natural Gas and NGL Product
@LOECNDD A%uZGeneral and Administrative G A`iSources and UsesvCapital ExpendituresAdjusted EBITDALegal ProceedingsItem 6 Exhibits
l a
dMbP?_*+%,&٭e2?'٭e2?(٭e2?)٭e2?",D/??,
SIGNATURES
Balance SheetIncome Statement
Cash FlowsMajor CustomersMajor Customers (1)Change in estimatesCapitalized OverheadDivestituresDivestitures (1)2025 Senior Notes2025 Senior Notes (1)!Offsetting of Derivative Assets!Offsetting of Derivative As (1)!Offsetting of Derivative As (2)!Offsetting of Derivative As (3)!Fair Value Measurements and Dis!Fair Value Measurements and (1)!Fair Value of Financial Instrum!Fair Value of Financial Ins (1)
Stock optionsStock options (1)!Restricted stock units and stoc!Total Shareholder Return TSR PS!Total Shareholder Return TS (1)Corporate Goals PSUs Corporate Goals PSUs (1)!14 Revenue from Contracts with Volume CommitmentsVehicle LeasesVehicle Leases (1)Market ConditionsMarket Conditions (1)Core OperationsCore Operations (1)!Oil Natural Gas and NGL ProductLOEDD A General and Administrative G ASources and UsesCapital ExpendituresAdjusted EBITDALegal ProceedingsItem 6 ExhibitsU }6}!
SRC Energy Inc.10Q
05/02/2018SRC ENERGY INC. !
Large accelerated filer ?
Accelerated filer o5Nonaccelerated filer o (Do not check if#Smaller reporting company o$
a smaller reporting company)!Emerging growth company o$____________________________1)Created by Morningstar Document Research.0(http://documentresearch.morningstar.com/.*thPlT#=PF0*8X>
@
l <o%.
dMbP?_*+%,&٭e2?'٭e2?(٭e2?)٭e2?",D/??,SRC ENERGY INC
Balance SheetIncome Statement
Cash FlowsMajor CustomersMajor Customers (1)Change in estimatesCapitalized OverheadDivestituresDivestitures (1)2025 Senior Notes2025 Senior Notes (1)!Offsetting of Derivative Assets!Offsetting of Derivative As (1)!Offsetting of Derivative As (2)!Offsetting of Derivative As (3)!Fair Value Measurements and Dis!Fair Value Measurements and (1)!Fair Value of Financial Instrum!Fair Value of Financial Ins (1)
Stock optionsStock options (1)!Restricted stock units and stoc!Total Shareholder Return TSR PS!Total Shareholder Return TS (1)Corporate Goals PSUs Corporate Goals PSUs (1)!14 Revenue from Contracts with Volume CommitmentsVehicle LeasesVehicle Leases (1)Market ConditionsMarket Conditions (1)Core OperationsCore Operations (1)!Oil Natural Gas and NGL ProductLOEDD A General and Administrative G ASources and UsesCapital ExpendituresAdjusted EBITDALegal ProceedingsItem 6 ExhibitsU }y
}:}$ }
<
SRC Energy Inc.10Q
05/02/2018
SIGNATURES
Page&Part I  FINANCIAL INFORMATION
Item 1.(
Financial Statements (unaudited)
%Condensed Consolidated Balance Sheets~
2*as of March 31, 2018 and December 31, 2017,$Condensed Consolidated Statements of~
3+Operations for the three months ended March31, 2018 and 2017,$Condensed Consolidated Statements of~
3+Cash Flows for the three months ended March31, 2018 and 20171)Notes to Condensed Consolidated Financial~
StatementsItem 2.,$Management's Discussion and Analysis~
Z80of Financial Condition and Results of OperationsDlym= @wGUcY !"#$%&'()*+,./0123456789:; Item 3.0 (Quantitative and Qualitative Disclosures ~
!!About Market Risk""""#Item 4.#Controls and Procedures#~
#$$$$#%Part II  OTHER INFORMATION%%&&&&'Item 1.'Legal Proceedings'~
'(((()Item 1A.)Risk Factors)~
)****+Item 2./+'Unregistered Sales of Equity Securities+~
+,,and Use of Proceeds.Item 3.%.Defaults of Senior Securities.~
.////0Item 4.0Mine Safety Disclosures0~
011112Item 5.2Other Information2~
233334Item 6.4Exhibits4~
455556
SIGNATURES6~
678$9____________________________1:)Created by Morningstar Document Research.0;(http://documentresearch.morningstar.com/<NvFW
gV&\,sK=PF0*8X>
@2;;::9966%%
l F/?LM
dMbP?_*+%,&٭e2?'٭e2?(٭e2?)٭e2?",D/??,SRC ENERGY INC
SIGNATURESIncome Statement
Cash FlowsMajor CustomersMajor Customers (1)Change in estimatesCapitalized OverheadDivestituresDivestitures (1)2025 Senior Notes2025 Senior Notes (1)!Offsetting of Derivative Assets!Offsetting of Derivative As (1)!Offsetting of Derivative As (2)!Offsetting of Derivative As (3)!Fair Value Measurements and Dis!Fair Value Measurements and (1)!Fair Value of Financial Instrum!Fair Value of Financial Ins (1)
Stock optionsStock options (1)!Restricted stock units and stoc!Total Shareholder Return TSR PS!Total Shareholder Return TS (1)Corporate Goals PSUs Corporate Goals PSUs (1)!14 Revenue from Contracts with Volume CommitmentsVehicle LeasesVehicle Leases (1)Market ConditionsMarket Conditions (1)Core OperationsCore Operations (1)!Oil Natural Gas and NGL ProductLOEDD A General and Administrative G ASources and UsesCapital ExpendituresAdjusted EBITDALegal ProceedingsItem 6 ExhibitsU }7}$
F
SRC Energy Inc.10Q
05/02/2018
Balance Sheet
ASSETS
March 31, 2018
December 31, 2017Current assets:!Cash and cash equivalents~
`~
Accounts receivable:
'Oil, natural gas, and NGL sales~
~
?
Trade~
z$~
ZOther current assets~
l~
2oTotal current assets~
~
Property and equipment:1)Oil and gas properties, full cost method:%Proved properties, net of accumulated~
v\>~
b=; depletionWells in progress~
z ~
v1)Unproved properties and land, not subject~
0~
q0to depletion#Oil and gas properties, net~
x~
*r)!Other property and equipment, net~
\~
^)!Total property and equipment, net~
mx~
rGoodwill~
~
Other assets~
~
#Total assets~
z~
2~D
lvj
vbQ!)= !"#$%&'()*+,./0123456789:;<=>? ,!$LIABILITIES AND SHAREHOLDERS' EQUITY!!!"Current liabilities:"""#%Accounts payable and accrued expenses~
#6##~
##$Revenue payable~
$ε$$~
$$ %Production taxes payable~
%%%~
%2%$&Asset retirement obligations~
&RA&&~
&2&(' Commodity derivative liabilities~
'ڴ''~
'z'!(Total current liabilities~
(
((~
(Y())))!*Revolving credit facility *?** *?*,+$Notes payable, net of issuance costs~
+ ++~
+* +$,Asset retirement obligations~
,ʋ,,~
,b,Deferred taxes~
Z ?.Other liabilities~
.f$..~
.V#./Total liabilities~
/2//~
///0000/1'Commitments and contingencies (See Note11111~
2>33334Shareholders' equity:44455Preferred stock  $0.01 par value, 10,000,000 5?55 5?5/6'shares authorized: no shares issued and7outstanding48,Common stock  $0.001 par value, 300,000,000~
888~
8869.shares authorized: 241,902,501 and 241,365,5221:)shares issued and outstanding as of March4;,31, 2018 and December 31, 2017, respectively"<Additional paidin capital~
<5Z<<~
<Y<=Retained deficit~
===~
==">Total shareholders' equity~
>T>>~
>JO>????Dl8l4
@*EEEDDCC@@@@>>>>====<<<<88885555////....,,,,++++****((((''''&&&&%%%%$$$$####
l 1`f
dMbP?_*+%,&٭e2?'٭e2?(٭e2?)٭e2?",D/??,SRC ENERGY INC
SIGNATURES
Balance Sheet
Cash FlowsMajor CustomersMajor Customers (1)Change in estimatesCapitalized OverheadDivestituresDivestitures (1)2025 Senior Notes2025 Senior Notes (1)!Offsetting of Derivative Assets!Offsetting of Derivative As (1)!Offsetting of Derivative As (2)!Offsetting of Derivative As (3)!Fair Value Measurements and Dis!Fair Value Measurements and (1)!Fair Value of Financial Instrum!Fair Value of Financial Ins (1)
Stock optionsStock options (1)!Restricted stock units and stoc!Total Shareholder Return TSR PS!Total Shareholder Return TS (1)Corporate Goals PSUs Corporate Goals PSUs (1)!14 Revenue from Contracts with Volume CommitmentsVehicle LeasesVehicle Leases (1)Market ConditionsMarket Conditions (1)Core OperationsCore Operations (1)!Oil Natural Gas and NGL ProductLOEDD A General and Administrative G ASources and UsesCapital ExpendituresAdjusted EBITDALegal ProceedingsItem 6 ExhibitsU }U5}$
1
SRC Energy Inc.10Q
05/02/2018Income Statement
$
Three Months Ended March 31,~
~
*"Oil, natural gas, and NGL revenues~
~
:
Expenses: Lease operating expenses~
b{~
*:$Transportation and gathering~
~
Production taxes~
~
.&Depreciation, depletion, and accretion~
fC~
Unused commitment charge ?~
v
"General and administrative~
~
"Total expenses~
C~
BOperating income~
~
Other income (expense):)!Commodity derivatives gain (loss)~
~
44,Interest expense, net of amounts capitalized ? ?Interest income~
&~
.Other income~
V~
$Total other income (expense)~
&~
8D
lsg1d.eO%r !"#$%&'()*+,./0" Income before income taxes~
^ ~
6 !!!!"Income tax expense~
"Z"" "?"#
Net income~
###~
#6#$$$$$%Net income per common share:%%%
&Basic&HzG?&&&?&'Diluted'HzG?'''?'((((,)$Weightedaverage shares outstanding:)))
*Basic~
*]9**~
*
@000//..++++****''''&&&&####""""
l Dxք
dMbP?_*+%,&٭e2?'٭e2?(٭e2?)٭e2?",D/??,SRC ENERGY INC
SIGNATURES
Balance SheetIncome StatementMajor CustomersMajor Customers (1)Change in estimatesCapitalized OverheadDivestituresDivestitures (1)2025 Senior Notes2025 Senior Notes (1)!Offsetting of Derivative Assets!Offsetting of Derivative As (1)!Offsetting of Derivative As (2)!Offsetting of Derivative As (3)!Fair Value Measurements and Dis!Fair Value Measurements and (1)!Fair Value of Financial Instrum!Fair Value of Financial Ins (1)
Stock optionsStock options (1)!Restricted stock units and stoc!Total Shareholder Return TSR PS!Total Shareholder Return TS (1)Corporate Goals PSUs Corporate Goals PSUs (1)!14 Revenue from Contracts with Volume CommitmentsVehicle LeasesVehicle Leases (1)Market ConditionsMarket Conditions (1)Core OperationsCore Operations (1)!Oil Natural Gas and NGL ProductLOEDD A General and Administrative G ASources and UsesCapital ExpendituresAdjusted EBITDALegal ProceedingsItem 6 ExhibitsU }8}$
D
SRC Energy Inc.10Q
05/02/2018
Cash Flows
$
Three Months Ended March 31,~
~
%Cash flows from operating activities:
Net income~
~
6
.&Adjustments to reconcile net income to2*net cash provided by operating activities:.&Depletion, depreciation, and accretion~
fC~
1)Settlement of asset retirement obligation~
~
$Provision for deferred taxes~
Z ?( Stockbased compensation expense~
+~
).&Marktomarket of commodity derivative
contracts:2*Total (gain) loss on commodity derivatives~
VZ~
6 contracts0(Cash settlements on commodity derivative~
~
F contracts4,Changes in operating assets and liabilities:~
~
1)Net cash provided by operating activities~
~
%Cash flows from investing activities:1)Acquisition of oil and gas properties and~
>~
x
leaseholdsDI
lym
Pn ^HI4G !"#$%&'()*+,./0123456789:;<=>? %Capital expenditures for drilling and~
~
b !completion activities""Other capital expenditures~
""""~
"B".#&Acquisition of land and other property~
###~
##$
and equipment5%Proceeds from sales of oil and gas properties~
%b%%~
%P%& and other'%Net cash used in investing activities~
'ޘ''~
''(((()%Cash flows from financing activities:)))*Offering costs~
*** *?*.+&Proceeds from the employee exercise of~
+++ +?+,
stock options7/Payment of employee payroll taxes in connection~
~
F.with shares withheld3/+Proceeds from the revolving credit facility /?//~
/8/0%Principal repayments on the revolving 0?00~
001credit facility32+Financing fees on issuance of notes payable~
222 2?233+and amendments to revolving credit facility4Capital lease payments~
444 4?405(Net cash provided by (used in) financing~
555~
5F56
activities7777/8'Net increase in cash, cash equivalents,~
8f88~
889and restricted cash::::.;&Cash, cash equivalents, and restricted~
;;;~
;?;#<cash at beginning of period====.>&Cash, cash equivalents, and restricted~
>`>>~
>b#>?cash at end of periodDln}~N/{zl? ~W'@ABC@$A____________________________1B)Created by Morningstar Document Research.0C(http://documentresearch.morningstar.com/<=PF0*8X>
@:CCBBAA>>>>;;;;88885555444422220000////++++****''''%%%%####""""
l
dMbP?_*+%,&٭e2?'٭e2?(٭e2?)٭e2?",D/??,SRC ENERGY INC
SIGNATURES
Balance SheetIncome Statement
Cash FlowsMajor Customers (1)Change in estimatesCapitalized OverheadDivestituresDivestitures (1)2025 Senior Notes2025 Senior Notes (1)!Offsetting of Derivative Assets!Offsetting of Derivative As (1)!Offsetting of Derivative As (2)!Offsetting of Derivative As (3)!Fair Value Measurements and Dis!Fair Value Measurements and (1)!Fair Value of Financial Instrum!Fair Value of Financial Ins (1)
Stock optionsStock options (1)!Restricted stock units and stoc!Total Shareholder Return TSR PS!Total Shareholder Return TS (1)Corporate Goals PSUs Corporate Goals PSUs (1)!14 Revenue from Contracts with Volume CommitmentsVehicle LeasesVehicle Leases (1)Market ConditionsMarket Conditions (1)Core OperationsCore Operations (1)!Oil Natural Gas and NGL ProductLOEDD A General and Administrative G ASources and UsesCapital ExpendituresAdjusted EBITDALegal ProceedingsItem 6 ExhibitsU }}$ } }$ }
SRC Energy Inc.10Q
05/02/2018Major Customers:
$
Three Months Ended March 31,Major Customers~
~
Company A31%23%
Company B
19%
22% Company C17%31% Company D13% *$____________________________1)Created by Morningstar Document Research.0(http://documentresearch.morningstar.com/.sg+QrfZ2=PF0*8X>
@"
l h
dMbP?_*+%,&٭e2?'٭e2?(٭e2?)٭e2?",D/??,SRC ENERGY INC
SIGNATURES
Balance SheetIncome Statement
Cash FlowsMajor CustomersChange in estimatesCapitalized OverheadDivestituresDivestitures (1)2025 Senior Notes2025 Senior Notes (1)!Offsetting of Derivative Assets!Offsetting of Derivative As (1)!Offsetting of Derivative As (2)!Offsetting of Derivative As (3)!Fair Value Measurements and Dis!Fair Value Measurements and (1)!Fair Value of Financial Instrum!Fair Value of Financial Ins (1)
Stock optionsStock options (1)!Restricted stock units and stoc!Total Shareholder Return TSR PS!Total Shareholder Return TS (1)Corporate Goals PSUs Corporate Goals PSUs (1)!14 Revenue from Contracts with Volume CommitmentsVehicle LeasesVehicle Leases (1)Market ConditionsMarket Conditions (1)Core OperationsCore Operations (1)!Oil Natural Gas and NGL ProductLOEDD A General and Administrative G ASources and UsesCapital ExpendituresAdjusted EBITDALegal ProceedingsItem 6 ExhibitsU }}$ }}$ }0
SRC Energy Inc.10Q
05/02/2018Major Customers:
As of
As ofMajor CustomersMarch 31, 2018December 31, 2017 Company A22%16%
Company B
21%
26% Company C15%23% Company D *11%$____________________________1)Created by Morningstar Document Research.0(http://documentresearch.morningstar.com/.sg+{0QE9=PF0*8X>
@
l ' #
dMbP?_*+%,&٭e2?'٭e2?(٭e2?)٭e2?",D/??,SRC ENERGY INC
SIGNATURES
Balance SheetIncome Statement
Cash FlowsMajor CustomersMajor Customers (1)Capitalized OverheadDivestituresDivestitures (1)2025 Senior Notes2025 Senior Notes (1)!Offsetting of Derivative Assets!Offsetting of Derivative As (1)!Offsetting of Derivative As (2)!Offsetting of Derivative As (3)!Fair Value Measurements and Dis!Fair Value Measurements and (1)!Fair Value of Financial Instrum!Fair Value of Financial Ins (1)
Stock optionsStock options (1)!Restricted stock units and stoc!Total Shareholder Return TSR PS!Total Shareholder Return TS (1)Corporate Goals PSUs Corporate Goals PSUs (1)!14 Revenue from Contracts with Volume CommitmentsVehicle LeasesVehicle Leases (1)Market ConditionsMarket Conditions (1)Core OperationsCore Operations (1)!Oil Natural Gas and NGL ProductLOEDD A General and Administrative G ASources and UsesCapital ExpendituresAdjusted EBITDALegal ProceedingsItem 6 ExhibitsU }1}$
'
SRC Energy Inc.10Q
05/02/2018Change in estimates:
As of
As ofMarch 31, 2018December 31, 20171)Oil and gas properties, full cost method:#
Costs of proved properties:
#Producing and nonproducing~
h~
vyc1)Less, accumulated depletion and full cost~
~
ceiling impairments( Subtotal, proved properties, net~
v\>~
b=;"Costs of wells in progress~
z ~
v.&Costs of unproved properties and land,!not subject to depletion:)!Lease acquisition and other costs~
$0~
0Land~
t~
p.&Subtotal, unproved properties and land~
0~
q0.&Costs of other property and equipment:$Other property and equipment~
~
&Less, accumulated depreciation~
V~
/'Subtotal, other property and equipment,~
\~
^netD[
l{ocz!oo?S.qy !"#$%& )!!Total property and equipment, net~
!mx!!~
!r!"#$$____________________________1%)Created by Morningstar Document Research.0&(http://documentresearch.morningstar.com/xcWK#=PF0*8X>
@&&%%$$!!!!
l
dMbP?_*+%,&٭e2?'٭e2?(٭e2?)٭e2?",D/??,SRC ENERGY INC
SIGNATURES
Balance SheetIncome Statement
Cash FlowsMajor CustomersMajor Customers (1)Change in estimatesDivestituresDivestitures (1)2025 Senior Notes2025 Senior Notes (1)!Offsetting of Derivative Assets!Offsetting of Derivative As (1)!Offsetting of Derivative As (2)!Offsetting of Derivative As (3)!Fair Value Measurements and Dis!Fair Value Measurements and (1)!Fair Value of Financial Instrum!Fair Value of Financial Ins (1)
Stock optionsStock options (1)!Restricted stock units and stoc!Total Shareholder Return TSR PS!Total Shareholder Return TS (1)Corporate Goals PSUs Corporate Goals PSUs (1)!14 Revenue from Contracts with Volume CommitmentsVehicle LeasesVehicle Leases (1)Market ConditionsMarket Conditions (1)Core OperationsCore Operations (1)!Oil Natural Gas and NGL ProductLOEDD A General and Administrative G ASources and UsesCapital ExpendituresAdjusted EBITDALegal ProceedingsItem 6 ExhibitsU }}$
SRC Energy Inc.10Q
05/02/2018Capitalized Overhead:
$
Three Months Ended March 31,~
~
Capitalized overhead~
0~
)
$____________________________1)Created by Morningstar Document Research.0(http://documentresearch.morningstar.com/(Tznb:."=PF0*8X>
@B
l #
dMbP?_*+%,&٭e2?'٭e2?(٭e2?)٭e2?",D/??,SRC ENERGY INC
SIGNATURES
Balance SheetIncome Statement
Cash FlowsMajor CustomersMajor Customers (1)Change in estimatesCapitalized OverheadDivestitures (1)2025 Senior Notes2025 Senior Notes (1)!Offsetting of Derivative Assets!Offsetting of Derivative As (1)!Offsetting of Derivative As (2)!Offsetting of Derivative As (3)!Fair Value Measurements and Dis!Fair Value Measurements and (1)!Fair Value of Financial Instrum!Fair Value of Financial Ins (1)
Stock optionsStock options (1)!Restricted stock units and stoc!Total Shareholder Return TSR PS!Total Shareholder Return TS (1)Corporate Goals PSUs Corporate Goals PSUs (1)!14 Revenue from Contracts with Volume CommitmentsVehicle LeasesVehicle Leases (1)Market ConditionsMarket Conditions (1)Core OperationsCore Operations (1)!Oil Natural Gas and NGL ProductLOEDD A General and Administrative G ASources and UsesCapital ExpendituresAdjusted EBITDALegal ProceedingsItem 6 ExhibitsU }*}$
SRC Energy Inc.10Q
05/02/2018Divestitures
$
Three Months Ended March 31,~
~
+#Depletion of oil and gas properties~
4~
~"
Depreciation and accretion~
N
~
:
Total DD&A Expense~
fC~
$____________________________1)Created by Morningstar Document Research.0(http://documentresearch.morningstar.com/,wk4pdX0=PF0*8X>
@b
l
dMbP?_*+%,&٭e2?'٭e2?(٭e2?)٭e2?",D/??,SRC ENERGY INC
SIGNATURES
Balance SheetIncome Statement
Cash FlowsMajor CustomersMajor Customers (1)Change in estimatesCapitalized OverheadDivestitures2025 Senior Notes2025 Senior Notes (1)!Offsetting of Derivative Assets!Offsetting of Derivative As (1)!Offsetting of Derivative As (2)!Offsetting of Derivative As (3)!Fair Value Measurements and Dis!Fair Value Measurements and (1)!Fair Value of Financial Instrum!Fair Value of Financial Ins (1)
Stock optionsStock options (1)!Restricted stock units and stoc!Total Shareholder Return TSR PS!Total Shareholder Return TS (1)Corporate Goals PSUs Corporate Goals PSUs (1)!14 Revenue from Contracts with Volume CommitmentsVehicle LeasesVehicle Leases (1)Market ConditionsMarket Conditions (1)Core OperationsCore Operations (1)!Oil Natural Gas and NGL ProductLOEDD A General and Administrative G ASources and UsesCapital ExpendituresAdjusted EBITDALegal ProceedingsItem 6 ExhibitsU }6}$
SRC Energy Inc.10Q
05/02/2018Divestitures
)
!Three Months Ended March 31, 20182*Asset retirement obligations, December 31,~
~

%Obligations incurred with development~
~
activities%Obligations assumed with acquisitions~
Accretion expense~
"5Obligations discharged with asset retirements~
Rand divestitures.&Asset retirement obligation, March 31,~
~
Less, current portion~
Longterm portion~
ʋ$____________________________1)Created by Morningstar Document Research.0(http://documentresearch.morningstar.com/<Swk;YCnRznF=PF0*8X>
@b
l
dMbP?_*+%,&٭e2?'٭e2?(٭e2?)٭e2?",D/??,SRC ENERGY INC
SIGNATURES
Balance SheetIncome Statement
Cash FlowsMajor CustomersMajor Customers (1)Change in estimatesCapitalized OverheadDivestituresDivestitures (1)2025 Senior Notes (1)!Offsetting of Derivative Assets!Offsetting of Derivative As (1)!Offsetting of Derivative As (2)!Offsetting of Derivative As (3)!Fair Value Measurements and Dis!Fair Value Measurements and (1)!Fair Value of Financial Instrum!Fair Value of Financial Ins (1)
Stock optionsStock options (1)!Restricted stock units and stoc!Total Shareholder Return TSR PS!Total Shareholder Return TS (1)Corporate Goals PSUs Corporate Goals PSUs (1)!14 Revenue from Contracts with Volume CommitmentsVehicle LeasesVehicle Leases (1)Market ConditionsMarket Conditions (1)Core OperationsCore Operations (1)!Oil Natural Gas and NGL ProductLOEDD A General and Administrative G ASources and UsesCapital ExpendituresAdjusted EBITDALegal ProceedingsItem 6 ExhibitsU }'}$ }}$ }}
$
SRC Energy Inc.10Q
05/02/20182025 Senior Notes
Settlement Period
Derivative
Volumes
WeightedAverage
&
WeightedAverage Ceiling Price
Instrument(Bbls per day)Floor PriceCrude Oil  NYMEX WTI
"
Apr 1, 2018  Dec 31, 2018
Collar
~
B
q=
ףE@
QN@
Settlement Period
DerivativeVolumesWeightedAverage
&WeightedAverage Ceiling Price
Instrument(MMBtu per day)Floor Price( Natural Gas  CIG Rocky Mountain
"Apr 1, 2018  Dec 31, 2018Collar~
b@
(\@
$____________________________1)Created by Morningstar Document Research.0(http://documentresearch.morningstar.com/4' ~rf
L$ bVJ"=PF0*8X>
@
l
dMbP?_*+%,&٭e2?'٭e2?(٭e2?)٭e2?",D/??,SRC ENERGY INC
SIGNATURES
Balance SheetIncome Statement
Cash FlowsMajor CustomersMajor Customers (1)Change in estimatesCapitalized OverheadDivestituresDivestitures (1)2025 Senior Notes!Offsetting of Derivative Assets!Offsetting of Derivative As (1)!Offsetting of Derivative As (2)!Offsetting of Derivative As (3)!Fair Value Measurements and Dis!Fair Value Measurements and (1)!Fair Value of Financial Instrum!Fair Value of Financial Ins (1)
Stock optionsStock options (1)!Restricted stock units and stoc!Total Shareholder Return TSR PS!Total Shareholder Return TS (1)Corporate Goals PSUs Corporate Goals PSUs (1)!14 Revenue from Contracts with Volume CommitmentsVehicle LeasesVehicle Leases (1)Market ConditionsMarket Conditions (1)Core OperationsCore Operations (1)!Oil Natural Gas and NGL ProductLOEDD A General and Administrative G ASources and UsesCapital ExpendituresAdjusted EBITDALegal ProceedingsItem 6 ExhibitsU }}$ }}$ }
} $
SRC Energy Inc.10Q
05/02/20182025 Senior Notes
Settlement Period
Derivative
Volumes
Fixed Price
Instrument(Bbls per day)Propane  Mont Belvieu"
Apr 1, 2018  Dec 31, 2018
Swap
~
@@
$____________________________1)Created by Morningstar Document Research.0(http://documentresearch.morningstar.com/*h~rfm=PF0*8X>
@:
l
dMbP?_*+%,&٭e2?'٭e2?(٭e2?)٭e2?",D/??,SRC ENERGY INC
SIGNATURES
Balance SheetIncome Statement
Cash FlowsMajor CustomersMajor Customers (1)Change in estimatesCapitalized OverheadDivestituresDivestitures (1)2025 Senior Notes2025 Senior Notes (1)!Offsetting of Derivative As (1)!Offsetting of Derivative As (2)!Offsetting of Derivative As (3)!Fair Value Measurements and Dis!Fair Value Measurements and (1)!Fair Value of Financial Instrum!Fair Value of Financial Ins (1)
Stock optionsStock options (1)!Restricted stock units and stoc!Total Shareholder Return TSR PS!Total Shareholder Return TS (1)Corporate Goals PSUs Corporate Goals PSUs (1)!14 Revenue from Contracts with Volume CommitmentsVehicle LeasesVehicle Leases (1)Market ConditionsMarket Conditions (1)Core OperationsCore Operations (1)!Oil Natural Gas and NGL ProductLOEDD A General and Administrative G ASources and UsesCapital ExpendituresAdjusted EBITDALegal ProceedingsItem 6 ExhibitsU }$}$ }$}$
SRC Energy Inc.10Q
05/02/20187/Offsetting of Derivative Assets and Liabilities
As of March 31, 2018
Underlying
Balance Sheet.&Gross Amounts of Recognized Assets and#Gross Amounts Offset in the7/Net Amounts of Assets and Liabilities PresentedLocationLiabilities
Balance Sheetin the
Balance Sheet&Commodity derivative contractsCurrent assets~
~
r
$?&Commodity derivative contractsNoncurrent assets
$?
$?
$?&Commodity derivative contractsCurrent liabilities~
j~
r
~
ڴ&Commodity derivative contractsNoncurrent liabilities
$?
$?
$?$____________________________1)Created by Morningstar Document Research.0(http://documentresearch.morningstar.com/2w xl`THDQT=PF0*8X>
@
l ]
dMbP?_*+%,&٭e2?'٭e2?(٭e2?)٭e2?",D/??,SRC ENERGY INC
SIGNATURES
Balance SheetIncome Statement
Cash FlowsMajor CustomersMajor Customers (1)Change in estimatesCapitalized OverheadDivestituresDivestitures (1)2025 Senior Notes2025 Senior Notes (1)!Offsetting of Derivative Assets!Offsetting of Derivative As (2)!Offsetting of Derivative As (3)!Fair Value Measurements and Dis!Fair Value Measurements and (1)!Fair Value of Financial Instrum!Fair Value of Financial Ins (1)
Stock optionsStock options (1)!Restricted stock units and stoc!Total Shareholder Return TSR PS!Total Shareholder Return TS (1)Corporate Goals PSUs Corporate Goals PSUs (1)!14 Revenue from Contracts with Volume CommitmentsVehicle LeasesVehicle Leases (1)Market ConditionsMarket Conditions (1)Core OperationsCore Operations (1)!Oil Natural Gas and NGL ProductLOEDD A General and Administrative G ASources and UsesCapital ExpendituresAdjusted EBITDALegal ProceedingsItem 6 ExhibitsU }$}$ }$}$
SRC Energy Inc.10Q
05/02/20187/Offsetting of Derivative Assets and Liabilities
As of December 31, 2017
Underlying
Balance Sheet.&Gross Amounts of Recognized Assets and#Gross Amounts Offset in the7/Net Amounts of Assets and Liabilities PresentedLocationLiabilities
Balance Sheetin the
Balance Sheet&Commodity derivative contractsCurrent assets~
~
b
$?&Commodity derivative contractsNoncurrent assets
$?
$?
$?&Commodity derivative contractsCurrent liabilities~
~
b
~
z&Commodity derivative contractsNoncurrent liabilities
$?
$?
$?$____________________________1)Created by Morningstar Document Research.0(http://documentresearch.morningstar.com/2z xl`THANQ=PF0*8X>
@
l :
dMbP?_*+%,&٭e2?'٭e2?(٭e2?)٭e2?",D/??,SRC ENERGY INC
SIGNATURES
Balance SheetIncome Statement
Cash FlowsMajor CustomersMajor Customers (1)Change in estimatesCapitalized OverheadDivestituresDivestitures (1)2025 Senior Notes2025 Senior Notes (1)!Offsetting of Derivative Assets!Offsetting of Derivative As (1)!Offsetting of Derivative As (3)!Fair Value Measurements and Dis!Fair Value Measurements and (1)!Fair Value of Financial Instrum!Fair Value of Financial Ins (1)
Stock optionsStock options (1)!Restricted stock units and stoc!Total Shareholder Return TSR PS!Total Shareholder Return TS (1)Corporate Goals PSUs Corporate Goals PSUs (1)!14 Revenue from Contracts with Volume CommitmentsVehicle LeasesVehicle Leases (1)Market ConditionsMarket Conditions (1)Core OperationsCore Operations (1)!Oil Natural Gas and NGL ProductLOEDD A General and Administrative G ASources and UsesCapital ExpendituresAdjusted EBITDALegal ProceedingsItem 6 ExhibitsU }8}$
SRC Energy Inc.10Q
05/02/20187/Offsetting of Derivative Assets and Liabilities
$
Three Months Ended March 31,~
~
.&Realized loss on commodity derivatives~
~
&7
/Unrealized gain (loss) on commodity derivatives~
~
6
Total gain (loss)~
~
4$____________________________1)Created by Morningstar Document Research.0(http://documentresearch.morningstar.com/,xl`TH6*=PF0*8X>
@b
l '
dMbP?_*+%,&٭e2?'٭e2?(٭e2?)٭e2?",D/??,SRC ENERGY INC
SIGNATURES
Balance SheetIncome Statement
Cash FlowsMajor CustomersMajor Customers (1)Change in estimatesCapitalized OverheadDivestituresDivestitures (1)2025 Senior Notes2025 Senior Notes (1)!Offsetting of Derivative Assets!Offsetting of Derivative As (1)!Offsetting of Derivative As (2)!Fair Value Measurements and Dis!Fair Value Measurements and (1)!Fair Value of Financial Instrum!Fair Value of Financial Ins (1)
Stock optionsStock options (1)!Restricted stock units and stoc!Total Shareholder Return TSR PS!Total Shareholder Return TS (1)Corporate Goals PSUs Corporate Goals PSUs (1)!14 Revenue from Contracts with Volume CommitmentsVehicle LeasesVehicle Leases (1)Market ConditionsMarket Conditions (1)Core OperationsCore Operations (1)!Oil Natural Gas and NGL ProductLOEDD A General and Administrative G ASources and UsesCapital ExpendituresAdjusted EBITDALegal ProceedingsItem 6 ExhibitsU }1}$
SRC Energy Inc.10Q
05/02/20187/Offsetting of Derivative Assets and Liabilities
$
Three Months Ended March 31,~
~
Monthly settlement~
~
1
)Previously incurred premiums attributable
?
~
&to settled commodity contractsTotal realized loss~
~
&$____________________________1)Created by Morningstar Document Research.0(http://documentresearch.morningstar.com/.(xl`TH"%
=PF0*8X>
@b
l 4
dMbP?_*+%,&٭e2?'٭e2?(٭e2?)٭e2?",D/??,SRC ENERGY INC
SIGNATURES
Balance SheetIncome Statement
Cash FlowsMajor CustomersMajor Customers (1)Change in estimatesCapitalized OverheadDivestituresDivestitures (1)2025 Senior Notes2025 Senior Notes (1)!Offsetting of Derivative Assets!Offsetting of Derivative As (1)!Offsetting of Derivative As (2)!Offsetting of Derivative As (3)!Fair Value Measurements and (1)!Fair Value of Financial Instrum!Fair Value of Financial Ins (1)
Stock optionsStock options (1)!Restricted stock units and stoc!Total Shareholder Return TSR PS!Total Shareholder Return TS (1)Corporate Goals PSUs Corporate Goals PSUs (1)!14 Revenue from Contracts with Volume CommitmentsVehicle LeasesVehicle Leases (1)Market ConditionsMarket Conditions (1)Core OperationsCore Operations (1)!Oil Natural Gas and NGL ProductLOEDD A General and Administrative G ASources and UsesCapital ExpendituresAdjusted EBITDALegal ProceedingsItem 6 ExhibitsU }<(}$
SRC Energy Inc.10Q
05/02/2018.&Fair Value Measurements and Disclosure
1
)Fair Value Measurements at March 31, 2018Level 1Level 2 Level 3
Total)!Financial assets and liabilities:
"
Commodity derivative asset
$?
$?
$?
$?
&Commodity derivative liability
$?~
ڴ
$?~
ڴ$____________________________1)Created by Morningstar Document Research.0(http://documentresearch.morningstar.com/,Lui]QPU=PF0*8X>
@
l A
dMbP?_*+%,&٭e2?'٭e2?(٭e2?)٭e2?",D/??,SRC ENERGY INC
SIGNATURES
Balance SheetIncome Statement
Cash FlowsMajor CustomersMajor Customers (1)Change in estimatesCapitalized OverheadDivestituresDivestitures (1)2025 Senior Notes2025 Senior Notes (1)!Offsetting of Derivative Assets!Offsetting of Derivative As (1)!Offsetting of Derivative As (2)!Offsetting of Derivative As (3)!Fair Value Measurements and Dis!Fair Value of Financial Instrum!Fair Value of Financial Ins (1)
Stock optionsStock options (1)!Restricted stock units and stoc!Total Shareholder Return TSR PS!Total Shareholder Return TS (1)Corporate Goals PSUs Corporate Goals PSUs (1)!14 Revenue from Contracts with Volume CommitmentsVehicle LeasesVehicle Leases (1)Market ConditionsMarket Conditions (1)Core OperationsCore Operations (1)!Oil Natural Gas and NGL ProductLOEDD A General and Administrative G ASources and UsesCapital ExpendituresAdjusted EBITDALegal ProceedingsItem 6 ExhibitsU }<(}$
SRC Energy Inc.10Q
05/02/2018.&Fair Value Measurements and Disclosure
/
'Fair Value Measurements at December 31,~
Level 1Level 2 Level 3
Total)
!Financial assets and liabilities:
"Commodity derivative asset
$?
$?
$?
$?&Commodity derivative liability
$?~
z
$?~
z$____________________________1)Created by Morningstar Document Research.0(http://documentresearch.morningstar.com/.xui]QR8==PF0*8X>
@
l LN
dMbP?_*+%,&٭e2?'٭e2?(٭e2?)٭e2?",D/??,SRC ENERGY INC
SIGNATURES
Balance SheetIncome Statement
Cash FlowsMajor CustomersMajor Customers (1)Change in estimatesCapitalized OverheadDivestituresDivestitures (1)2025 Senior Notes2025 Senior Notes (1)!Offsetting of Derivative Assets!Offsetting of Derivative As (1)!Offsetting of Derivative As (2)!Offsetting of Derivative As (3)!Fair Value Measurements and Dis!Fair Value Measurements and (1)!Fair Value of Financial Ins (1)
Stock optionsStock options (1)!Restricted stock units and stoc!Total Shareholder Return TSR PS!Total Shareholder Return TS (1)Corporate Goals PSUs Corporate Goals PSUs (1)!14 Revenue from Contracts with Volume CommitmentsVehicle LeasesVehicle Leases (1)Market ConditionsMarket Conditions (1)Core OperationsCore Operations (1)!Oil Natural Gas and NGL ProductLOEDD A General and Administrative G ASources and UsesCapital ExpendituresAdjusted EBITDALegal ProceedingsItem 6 ExhibitsU }U5}$
SRC Energy Inc.10Q
05/02/2018+#Fair Value of Financial Instruments
$
Three Months Ended March 31,~
~
&Revolving bank credit facility
$?~
Notes payable~
J
~
"
0(Amortization of issuance costs and other~
~
"Less: interest capitalized~
k~
f4,Interest expense, net of amounts capitalized
$?
$?$____________________________1)Created by Morningstar Document Research.0(http://documentresearch.morningstar.com/0xl`T"Uwk_7=PF0*8X>
@
l [
dMbP?_*+%,&٭e2?'٭e2?(٭e2?)٭e2?",D/??,SRC ENERGY INC
SIGNATURES
Balance SheetIncome Statement
Cash FlowsMajor CustomersMajor Customers (1)Change in estimatesCapitalized OverheadDivestituresDivestitures (1)2025 Senior Notes2025 Senior Notes (1)!Offsetting of Derivative Assets!Offsetting of Derivative As (1)!Offsetting of Derivative As (2)!Offsetting of Derivative As (3)!Fair Value Measurements and Dis!Fair Value Measurements and (1)!Fair Value of Financial Instrum
Stock optionsStock options (1)!Restricted stock units and stoc!Total Shareholder Return TSR PS!Total Shareholder Return TS (1)Corporate Goals PSUs Corporate Goals PSUs (1)!14 Revenue from Contracts with Volume CommitmentsVehicle LeasesVehicle Leases (1)Market ConditionsMarket Conditions (1)Core OperationsCore Operations (1)!Oil Natural Gas and NGL ProductLOEDD A General and Administrative G ASources and UsesCapital ExpendituresAdjusted EBITDALegal ProceedingsItem 6 ExhibitsU }2}$
SRC Energy Inc.10Q
05/02/2018+#Fair Value of Financial Instruments
$
Three Months Ended March 31,~
~
Stock options~
~
z&
Performancevested stock units~
b
~
6
.&Restricted stock units and stock bonus~
~
shares&Total stockbased compensation~
5~
02*Less: stockbased compensation capitalized~
~
/'Total stockbased compensation expensed~
+~
)$____________________________1)Created by Morningstar Document Research.0(http://documentresearch.morningstar.com/4xl`T3WEe=PF0*8X>
@
l k
dMbP?_*+%,&٭e2?'٭e2?(٭e2?)٭e2?",D/??,SRC ENERGY INC
SIGNATURES
Balance SheetIncome Statement
Cash FlowsMajor CustomersMajor Customers (1)Change in estimatesCapitalized OverheadDivestituresDivestitures (1)2025 Senior Notes2025 Senior Notes (1)!Offsetting of Derivative Assets!Offsetting of Derivative As (1)!Offsetting of Derivative As (2)!Offsetting of Derivative As (3)!Fair Value Measurements and Dis!Fair Value Measurements and (1)!Fair Value of Financial Instrum!Fair Value of Financial Ins (1)Stock options (1)!Restricted stock units and stoc!Total Shareholder Return TSR PS!Total Shareholder Return TS (1)Corporate Goals PSUs Corporate Goals PSUs (1)!14 Revenue from Contracts with Volume CommitmentsVehicle LeasesVehicle Leases (1)Market ConditionsMarket Conditions (1)Core OperationsCore Operations (1)!Oil Natural Gas and NGL ProductLOEDD A General and Administrative G ASources and UsesCapital ExpendituresAdjusted EBITDALegal ProceedingsItem 6 ExhibitsU }}y}$ }0.} $
SRC Energy Inc.10Q
05/02/2018
Stock options
Number of Shares
'
WeightedAverage Exercise Price
.
&WeightedAverage Remaining Contractual

%Aggregate Intrinsic Value (thousands)Life&Outstanding, December 31, 2017~
X(\"@ 7.0 years ~
K
Granted
?
?
Exercised~
HzG@ ~
JExpired~
b
ףp=&@
Forfeited~
B+p=
#'@
#Outstanding, March 31, 2018~
CHzG#@ 7.0 years ~
P%Outstanding, Exercisable at March 31,~
(\"@ 6.6 years ~
5~
$____________________________1)Created by Morningstar Document Research.0(http://documentresearch.morningstar.com/4R vjN09+=PF0*8X>
@
l r~
dMbP?_*+%,&٭e2?'٭e2?(٭e2?)٭e2?",D/??,SRC ENERGY INC
SIGNATURES
Balance SheetIncome Statement
Cash FlowsMajor CustomersMajor Customers (1)Change in estimatesCapitalized OverheadDivestituresDivestitures (1)2025 Senior Notes2025 Senior Notes (1)!Offsetting of Derivative Assets!Offsetting of Derivative As (1)!Offsetting of Derivative As (2)!Offsetting of Derivative As (3)!Fair Value Measurements and Dis!Fair Value Measurements and (1)!Fair Value of Financial Instrum!Fair Value of Financial Ins (1)
Stock options!Restricted stock units and stoc!Total Shareholder Return TSR PS!Total Shareholder Return TS (1)Corporate Goals PSUs Corporate Goals PSUs (1)!14 Revenue from Contracts with Volume CommitmentsVehicle LeasesVehicle Leases (1)Market ConditionsMarket Conditions (1)Core OperationsCore Operations (1)!Oil Natural Gas and NGL ProductLOEDD A General and Administrative G ASources and UsesCapital ExpendituresAdjusted EBITDALegal ProceedingsItem 6 ExhibitsU }}$ }
}$ } 0.}
$ }
}$ }0.
SRC Energy Inc.10Q
05/02/2018
Stock options
Outstanding Options
Exercisable Options Range of Exercise PricesOptions1)WeightedAverage Exercise Price per Share. &WeightedAverage Remaining Contractual
Options
1)WeightedAverage Exercise Price per Share.&WeightedAverage Remaining Contractual Life
Life
Under $5.00
~
(\@
3.8 years
~
(\@
3.8 years
$5.00  $6.99~
"W=Q@ 6.7 years
~
$
@ 5.6 years$7.00  $10.99~
*]Q"@ 7.2 years
~
.0
\("@ 6.9 years$11.00  $13.46~
)\('@ 7.2 years
~
Z
333333'@ 7.1 years
Total~
CHzG#@ 7.0 years
~
(\"@ 6.6 years$____________________________1)Created by Morningstar Document Research.0(http://documentresearch.morningstar.com/2}vj$=PF0*8X>
@
l ֊
dMbP?_*+%,&٭e2?'٭e2?(٭e2?)٭e2?",D/??,SRC ENERGY INC
SIGNATURES
Balance SheetIncome Statement
Cash FlowsMajor CustomersMajor Customers (1)Change in estimatesCapitalized OverheadDivestituresDivestitures (1)2025 Senior Notes2025 Senior Notes (1)!Offsetting of Derivative Assets!Offsetting of Derivative As (1)!Offsetting of Derivative As (2)!Offsetting of Derivative As (3)!Fair Value Measurements and Dis!Fair Value Measurements and (1)!Fair Value of Financial Instrum!Fair Value of Financial Ins (1)
Stock optionsStock options (1)!Total Shareholder Return TSR PS!Total Shareholder Return TS (1)Corporate Goals PSUs Corporate Goals PSUs (1)!14 Revenue from Contracts with Volume CommitmentsVehicle LeasesVehicle Leases (1)Market ConditionsMarket Conditions (1)Core OperationsCore Operations (1)!Oil Natural Gas and NGL ProductLOEDD A General and Administrative G ASources and UsesCapital ExpendituresAdjusted EBITDALegal ProceedingsItem 6 ExhibitsU }y#}y}$
SRC Energy Inc.10Q
05/02/20185Restricted stock units and stock bonus awards
Number of Shares
.
&WeightedAverage GrantDate Fair Value%Not vested, December 31, 2017~
j^BHz!@Granted~
"'=
ףp="@
Vested~
N
ףp=
W @
Forfeited~
&RQ$@"Not vested, March 31, 2018~
^VQ8"@$____________________________1)Created by Morningstar Document Research.0(http://documentresearch.morningstar.com/.znbVJ#vs=PF0*8X>
@R
l 
dMbP?_*+%,&٭e2?'٭e2?(٭e2?)٭e2?",D/??,SRC ENERGY INC
SIGNATURES
Balance SheetIncome Statement
Cash FlowsMajor CustomersMajor Customers (1)Change in estimatesCapitalized OverheadDivestituresDivestitures (1)2025 Senior Notes2025 Senior Notes (1)!Offsetting of Derivative Assets!Offsetting of Derivative As (1)!Offsetting of Derivative As (2)!Offsetting of Derivative As (3)!Fair Value Measurements and Dis!Fair Value Measurements and (1)!Fair Value of Financial Instrum!Fair Value of Financial Ins (1)
Stock optionsStock options (1)!Restricted stock units and stoc!Total Shareholder Return TS (1)Corporate Goals PSUs Corporate Goals PSUs (1)!14 Revenue from Contracts with Volume CommitmentsVehicle LeasesVehicle Leases (1)Market ConditionsMarket Conditions (1)Core OperationsCore Operations (1)!Oil Natural Gas and NGL ProductLOEDD A General and Administrative G ASources and UsesCapital ExpendituresAdjusted EBITDALegal ProceedingsItem 6 ExhibitsU }+}}$}$ }}$
SRC Energy Inc.10Q
05/02/2018/'Total Shareholder Return ("TSR") PSUs 
$
Three Months Ended March 31,~
~
&Weightedaverage expected term 2.8 years 2.9 years,
$Weightedaverage expected volatility~
%
~
%'Weightedaverage riskfree rateHzG@ %q=
ףp? %$____________________________1)Created by Morningstar Document Research.0(http://documentresearch.morningstar.com/,th\P(A5)=PF0*8X>
@2
l a
dMbP?_*+%,&٭e2?'٭e2?(٭e2?)٭e2?",D/??,SRC ENERGY INC
SIGNATURES
Balance SheetIncome Statement
Cash FlowsMajor CustomersMajor Customers (1)Change in estimatesCapitalized OverheadDivestituresDivestitures (1)2025 Senior Notes2025 Senior Notes (1)!Offsetting of Derivative Assets!Offsetting of Derivative As (1)!Offsetting of Derivative As (2)!Offsetting of Derivative As (3)!Fair Value Measurements and Dis!Fair Value Measurements and (1)!Fair Value of Financial Instrum!Fair Value of Financial Ins (1)
Stock optionsStock options (1)!Restricted stock units and stoc!Total Shareholder Return TSR PSCorporate Goals PSUs Corporate Goals PSUs (1)!14 Revenue from Contracts with Volume CommitmentsVehicle LeasesVehicle Leases (1)Market ConditionsMarket Conditions (1)Core OperationsCore Operations (1)!Oil Natural Gas and NGL ProductLOEDD A General and Administrative G ASources and UsesCapital ExpendituresAdjusted EBITDALegal ProceedingsItem 6 ExhibitsU }y#}
}$
SRC Energy Inc.10Q
05/02/2018/'Total Shareholder Return ("TSR") PSUs 
Number of Units 1
.
&WeightedAverage GrantDate Fair Value%Not vested, December 31, 2017~
2:zG"@Granted~
Q8*@
Vested
?
?
Forfeited ? ?"Not vested, March 31, 2018~
MQ$@$____________________________1)Created by Morningstar Document Research.0(http://documentresearch.morningstar.com/.th\P(.=PF0*8X>
@R
l y
dMbP?_*+%,&٭e2?'٭e2?(٭e2?)٭e2?",D/??,SRC ENERGY INC
SIGNATURES
Balance SheetIncome Statement
Cash FlowsMajor CustomersMajor Customers (1)Change in estimatesCapitalized OverheadDivestituresDivestitures (1)2025 Senior Notes2025 Senior Notes (1)!Offsetting of Derivative Assets!Offsetting of Derivative As (1)!Offsetting of Derivative As (2)!Offsetting of Derivative As (3)!Fair Value Measurements and Dis!Fair Value Measurements and (1)!Fair Value of Financial Instrum!Fair Value of Financial Ins (1)
Stock optionsStock options (1)!Restricted stock units and stoc!Total Shareholder Return TSR PS!Total Shareholder Return TS (1)Corporate Goals PSUs (1)!14 Revenue from Contracts with Volume CommitmentsVehicle LeasesVehicle Leases (1)Market ConditionsMarket Conditions (1)Core OperationsCore Operations (1)!Oil Natural Gas and NGL ProductLOEDD A General and Administrative G ASources and UsesCapital ExpendituresAdjusted EBITDALegal ProceedingsItem 6 ExhibitsU }0}}$ }}$
SRC Energy Inc.10Q
05/02/2018Corporate Goals PSUs 
$
Three Months Ended March 31,~
~
+#Weightedaverage shares outstanding~
]9~
@2
l "
dMbP?_*+%,&٭e2?'٭e2?(٭e2?)٭e2?",D/??,SRC ENERGY INC
SIGNATURES
Balance SheetIncome Statement
Cash FlowsMajor CustomersMajor Customers (1)Change in estimatesCapitalized OverheadDivestituresDivestitures (1)2025 Senior Notes2025 Senior Notes (1)!Offsetting of Derivative Assets!Offsetting of Derivative As (1)!Offsetting of Derivative As (2)!Offsetting of Derivative As (3)!Fair Value Measurements and Dis!Fair Value Measurements and (1)!Fair Value of Financial Instrum!Fair Value of Financial Ins (1)
Stock optionsStock options (1)!Restricted stock units and stoc!Total Shareholder Return TSR PS!Total Shareholder Return TS (1)Corporate Goals PSUs !14 Revenue from Contracts with Volume CommitmentsVehicle LeasesVehicle Leases (1)Market ConditionsMarket Conditions (1)Core OperationsCore Operations (1)!Oil Natural Gas and NGL ProductLOEDD A General and Administrative G ASources and UsesCapital ExpendituresAdjusted EBITDALegal ProceedingsItem 6 ExhibitsU }0}y}$ }y}$
SRC Energy Inc.10Q
05/02/2018Corporate Goals PSUs 
$
Three Months Ended March 31,~
~
0(Potentially dilutive common shares from:
Stock options 1~
j
~
=
TSR PSUs 1,2 ?~
2: Corporate Goals PSUs 2,3~
B4 ?.&Restricted stock units and stock bonus~
S~
$shares 1
Total~
.y%~
RG$____________________________1)Created by Morningstar Document Research.0(http://documentresearch.morningstar.com/4ymaYDmaU=PF0*8X>
@2
l <
dMbP?_*+%,&٭e2?'٭e2?(٭e2?)٭e2?",D/??,SRC ENERGY INC
SIGNATURES
Balance SheetIncome Statement
Cash FlowsMajor CustomersMajor Customers (1)Change in estimatesCapitalized OverheadDivestituresDivestitures (1)2025 Senior Notes2025 Senior Notes (1)!Offsetting of Derivative Assets!Offsetting of Derivative As (1)!Offsetting of Derivative As (2)!Offsetting of Derivative As (3)!Fair Value Measurements and Dis!Fair Value Measurements and (1)!Fair Value of Financial Instrum!Fair Value of Financial Ins (1)
Stock optionsStock options (1)!Restricted stock units and stoc!Total Shareholder Return TSR PS!Total Shareholder Return TS (1)Corporate Goals PSUs Corporate Goals PSUs (1)Volume CommitmentsVehicle LeasesVehicle Leases (1)Market ConditionsMarket Conditions (1)Core OperationsCore Operations (1)!Oil Natural Gas and NGL ProductLOEDD A General and Administrative G ASources and UsesCapital ExpendituresAdjusted EBITDALegal ProceedingsItem 6 ExhibitsU }}$
SRC Energy Inc.10Q
05/02/20181)14. Revenue from Contracts with Customers
$
Three Months Ended March 31, Revenues (in thousands):~
~
Oil~
~
v
Natural Gas and NGLs~
~
~
~
:$____________________________1)Created by Morningstar Document Research.0(http://documentresearch.morningstar.com/,~rfZNnsg[3=PF0*8X>
@b
l '
dMbP?_*+%,&٭e2?'٭e2?(٭e2?)٭e2?",D/??,SRC ENERGY INC
SIGNATURES
Balance SheetIncome Statement
Cash FlowsMajor CustomersMajor Customers (1)Change in estimatesCapitalized OverheadDivestituresDivestitures (1)2025 Senior Notes2025 Senior Notes (1)!Offsetting of Derivative Assets!Offsetting of Derivative As (1)!Offsetting of Derivative As (2)!Offsetting of Derivative As (3)!Fair Value Measurements and Dis!Fair Value Measurements and (1)!Fair Value of Financial Instrum!Fair Value of Financial Ins (1)
Stock optionsStock options (1)!Restricted stock units and stoc!Total Shareholder Return TSR PS!Total Shareholder Return TS (1)Corporate Goals PSUs Corporate Goals PSUs (1)!14 Revenue from Contracts with Vehicle LeasesVehicle Leases (1)Market ConditionsMarket Conditions (1)Core OperationsCore Operations (1)!Oil Natural Gas and NGL ProductLOEDD A General and Administrative G ASources and UsesCapital ExpendituresAdjusted EBITDALegal ProceedingsItem 6 ExhibitsU }}$ }
}$
SRC Energy Inc.10Q
05/02/2018Volume Commitments
Year ending December 31,
Oil(MBbls)Remainder of 2018~
5~
~
P
~
~
>~
~
"~
?
Thereafter ?
Total~
$____________________________1)Created by Morningstar Document Research.0(http://documentresearch.morningstar.com/4B}qe5T ~G;/=PF0*8X>
@*
l B
dMbP?_*+%,&٭e2?'٭e2?(٭e2?)٭e2?",D/??,SRC ENERGY INC
SIGNATURES
Balance SheetIncome Statement
Cash FlowsMajor CustomersMajor Customers (1)Change in estimatesCapitalized OverheadDivestituresDivestitures (1)2025 Senior Notes2025 Senior Notes (1)!Offsetting of Derivative Assets!Offsetting of Derivative As (1)!Offsetting of Derivative As (2)!Offsetting of Derivative As (3)!Fair Value Measurements and Dis!Fair Value Measurements and (1)!Fair Value of Financial Instrum!Fair Value of Financial Ins (1)
Stock optionsStock options (1)!Restricted stock units and stoc!Total Shareholder Return TSR PS!Total Shareholder Return TS (1)Corporate Goals PSUs Corporate Goals PSUs (1)!14 Revenue from Contracts with Volume CommitmentsVehicle Leases (1)Market ConditionsMarket Conditions (1)Core OperationsCore Operations (1)!Oil Natural Gas and NGL ProductLOEDD A General and Administrative G ASources and UsesCapital ExpendituresAdjusted EBITDALegal ProceedingsItem 6 ExhibitsU }6}$
SRC Energy Inc.10Q
05/02/2018Vehicle Leases
Year ending December 31:
Vehicles Leases
Office LeasesRemainder of 2018~
n~
~
~
z~
~
~
z
~
R
~
~
~
F~
~
~
Thereafter ? ?$Total minimum lease payments~
~
:<5Less: Amount representing estimated executory~
ncost"Net minimum lease payments~
v*"Less: Amount representing interest~
3+Present value of net minimum lease payments~
*$____________________________1)Created by Morningstar Document Research.0(http://documentresearch.morningstar.com/<ui$p\qa=PF0*8X>
@
l $
dMbP?_*+%,&٭e2?'٭e2?(٭e2?)٭e2?",D/??,SRC ENERGY INC
SIGNATURES
Balance SheetIncome Statement
Cash FlowsMajor CustomersMajor Customers (1)Change in estimatesCapitalized OverheadDivestituresDivestitures (1)2025 Senior Notes2025 Senior Notes (1)!Offsetting of Derivative Assets!Offsetting of Derivative As (1)!Offsetting of Derivative As (2)!Offsetting of Derivative As (3)!Fair Value Measurements and Dis!Fair Value Measurements and (1)!Fair Value of Financial Instrum!Fair Value of Financial Ins (1)
Stock optionsStock options (1)!Restricted stock units and stoc!Total Shareholder Return TSR PS!Total Shareholder Return TS (1)Corporate Goals PSUs Corporate Goals PSUs (1)!14 Revenue from Contracts with Volume CommitmentsVehicle LeasesMarket ConditionsMarket Conditions (1)Core OperationsCore Operations (1)!Oil Natural Gas and NGL ProductLOEDD A General and Administrative G ASources and UsesCapital ExpendituresAdjusted EBITDALegal ProceedingsItem 6 ExhibitsU }:}$
$
SRC Energy Inc.10Q
05/02/2018Vehicle Leases
$
Three Months Ended March 31,+#Supplemental cash flow information:~
~
Interest paid~
~
Income taxes paid
?
?
4,Noncash investing and financing activities:+#Accrued well costs as of period end~
~
%Asset retirement obligations incurred~
~~
#with development activities,$Asset retirement obligations assumed~
~
*with acquisitions5Obligations discharged with asset retirements~
R~
and divestitures80Net changes in operating assets and liabilities:Accounts receivable~
v~
~%Accounts payable and accrued expenses~
E~
RRevenue payable~
~
& Production taxes payable~
R~
Other~
2~
&3+Changes in operating assets and liabilities~
~
D^
lui ~%>^71&Z !"# $!____________________________1")Created by Morningstar Document Research.0#(http://documentresearch.morningstar.com/<=PF0*8X>
@##""!!
l i
dMbP?_*+%,&٭e2?'٭e2?(٭e2?)٭e2?",D/??,SRC ENERGY INC
SIGNATURES
Balance SheetIncome Statement
Cash FlowsMajor CustomersMajor Customers (1)Change in estimatesCapitalized OverheadDivestituresDivestitures (1)2025 Senior Notes2025 Senior Notes (1)!Offsetting of Derivative Assets!Offsetting of Derivative As (1)!Offsetting of Derivative As (2)!Offsetting of Derivative As (3)!Fair Value Measurements and Dis!Fair Value Measurements and (1)!Fair Value of Financial Instrum!Fair Value of Financial Ins (1)
Stock optionsStock options (1)!Restricted stock units and stoc!Total Shareholder Return TSR PS!Total Shareholder Return TS (1)Corporate Goals PSUs Corporate Goals PSUs (1)!14 Revenue from Contracts with Volume CommitmentsVehicle LeasesVehicle Leases (1)Market Conditions (1)Core OperationsCore Operations (1)!Oil Natural Gas and NGL ProductLOEDD A General and Administrative G ASources and UsesCapital ExpendituresAdjusted EBITDALegal ProceedingsItem 6 ExhibitsU }}$
SRC Energy Inc.10Q
05/02/2018Market Conditions
Year Ended December 31,
Year Ended August 31,~
~
~
~~
~~
z~
vAverage NYMEX prices
Oil (per Bbl)
ףp=
wI@
E@
=
ףp]H@
33333SN@
)\Y@
QW@
Natural gas (per Mcf)~
)\(@ p=
ף@
(\@Q@ffffff@$____________________________1)Created by Morningstar Document Research.0(http://documentresearch.morningstar.com/,~rfFNT=PF0*8X>
@
l
dMbP?_*+%,&٭e2?'٭e2?(٭e2?)٭e2?",D/??,SRC ENERGY INC
SIGNATURES
Balance SheetIncome Statement
Cash FlowsMajor CustomersMajor Customers (1)Change in estimatesCapitalized OverheadDivestituresDivestitures (1)2025 Senior Notes2025 Senior Notes (1)!Offsetting of Derivative Assets!Offsetting of Derivative As (1)!Offsetting of Derivative As (2)!Offsetting of Derivative As (3)!Fair Value Measurements and Dis!Fair Value Measurements and (1)!Fair Value of Financial Instrum!Fair Value of Financial Ins (1)
Stock optionsStock options (1)!Restricted stock units and stoc!Total Shareholder Return TSR PS!Total Shareholder Return TS (1)Corporate Goals PSUs Corporate Goals PSUs (1)!14 Revenue from Contracts with Volume CommitmentsVehicle LeasesVehicle Leases (1)Market ConditionsCore OperationsCore Operations (1)!Oil Natural Gas and NGL ProductLOEDD A General and Administrative G ASources and UsesCapital ExpendituresAdjusted EBITDALegal ProceedingsItem 6 ExhibitsU }}$
SRC Energy Inc.10Q
05/02/2018Market Conditions
$
Three Months Ended March 31,~
~
Oil (NYMEX WTI)
Average NYMEX Price
RqO@
GzI@
Realized Price *zGL@@E@Differential *QR"Gas (NYMEX Henry Hub)Average NYMEX Price~
Gz@Realized PriceQ@HzG@DifferentialQffffffֿNGL Realized Pricefffff&3@zG/@$____________________________1)Created by Morningstar Document Research.0(http://documentresearch.morningstar.com/<~rf_2Zh=PF0*8X>
@
l
dMbP?_*+%,&٭e2?'٭e2?(٭e2?)٭e2?",D/??,SRC ENERGY INC
SIGNATURES
Balance SheetIncome Statement
Cash FlowsMajor CustomersMajor Customers (1)Change in estimatesCapitalized OverheadDivestituresDivestitures (1)2025 Senior Notes2025 Senior Notes (1)!Offsetting of Derivative Assets!Offsetting of Derivative As (1)!Offsetting of Derivative As (2)!Offsetting of Derivative As (3)!Fair Value Measurements and Dis!Fair Value Measurements and (1)!Fair Value of Financial Instrum!Fair Value of Financial Ins (1)
Stock optionsStock options (1)!Restricted stock units and stoc!Total Shareholder Return TSR PS!Total Shareholder Return TS (1)Corporate Goals PSUs Corporate Goals PSUs (1)!14 Revenue from Contracts with Volume CommitmentsVehicle LeasesVehicle Leases (1)Market ConditionsMarket Conditions (1)Core Operations (1)!Oil Natural Gas and NGL ProductLOEDD A General and Administrative G ASources and UsesCapital ExpendituresAdjusted EBITDALegal ProceedingsItem 6 ExhibitsU }U}$ }U}$ }U}$ } $}
$ }U}
$ }U}$
SRC Energy Inc.10Q
05/02/2018Core Operations
Vertical WellsOperated WellsNonOperated WellsTotals
GrossNet
Gross Net
GrossNet~
~
v
~
~
~
.
~
6
$____________________________1)Created by Morningstar Document Research.0(http://documentresearch.morningstar.com/*yhth l=PF0*8X>
@j
l +
dMbP?_*+%,&٭e2?'٭e2?(٭e2?)٭e2?",D/??,SRC ENERGY INC
SIGNATURES
Balance SheetIncome Statement
Cash FlowsMajor CustomersMajor Customers (1)Change in estimatesCapitalized OverheadDivestituresDivestitures (1)2025 Senior Notes2025 Senior Notes (1)!Offsetting of Derivative Assets!Offsetting of Derivative As (1)!Offsetting of Derivative As (2)!Offsetting of Derivative As (3)!Fair Value Measurements and Dis!Fair Value Measurements and (1)!Fair Value of Financial Instrum!Fair Value of Financial Ins (1)
Stock optionsStock options (1)!Restricted stock units and stoc!Total Shareholder Return TSR PS!Total Shareholder Return TS (1)Corporate Goals PSUs Corporate Goals PSUs (1)!14 Revenue from Contracts with Volume CommitmentsVehicle LeasesVehicle Leases (1)Market ConditionsMarket Conditions (1)Core Operations!Oil Natural Gas and NGL ProductLOEDD A General and Administrative G ASources and UsesCapital ExpendituresAdjusted EBITDALegal ProceedingsItem 6 ExhibitsU }U}$ }U}$ }U}$ } $}
$ }U}
$ }U}$
SRC Energy Inc.10Q
05/02/2018Core Operations
Horizontal WellsOperated WellsNonOperated WellsTotals
GrossNet
Gross Net
GrossNet~
~
~
n
~
~
*
~
b
$____________________________1)Created by Morningstar Document Research.0(http://documentresearch.morningstar.com/*{hthj=PF0*8X>
@j
l ">?
dMbP?_*+%,&٭e2?'٭e2?(٭e2?)٭e2?",D/??,SRC ENERGY INC
SIGNATURES
Balance SheetIncome Statement
Cash FlowsMajor CustomersMajor Customers (1)Change in estimatesCapitalized OverheadDivestituresDivestitures (1)2025 Senior Notes2025 Senior Notes (1)!Offsetting of Derivative Assets!Offsetting of Derivative As (1)!Offsetting of Derivative As (2)!Offsetting of Derivative As (3)!Fair Value Measurements and Dis!Fair Value Measurements and (1)!Fair Value of Financial Instrum!Fair Value of Financial Ins (1)
Stock optionsStock options (1)!Restricted stock units and stoc!Total Shareholder Return TSR PS!Total Shareholder Return TS (1)Corporate Goals PSUs Corporate Goals PSUs (1)!14 Revenue from Contracts with Volume CommitmentsVehicle LeasesVehicle Leases (1)Market ConditionsMarket Conditions (1)Core OperationsCore Operations (1)LOEDD A General and Administrative G ASources and UsesCapital ExpendituresAdjusted EBITDALegal ProceedingsItem 6 ExhibitsU }}$ } U}
$
"
SRC Energy Inc.10Q
05/02/201891Oil, Natural Gas, and NGL Production and Revenues
$
Three Months Ended March 31,
Percentage~
~
ChangeProduction:
Oil (MBbls) 1~
~
~
"
%Natural Gas (MMcf) 2~
x~
5~
%NGLs (MBbls) 1~
~
^~
%MBOE 3~
?~
~
r
%
BOED 4~
V~
>~
r
% Revenues (in thousands): Oil~
~
v~
%Natural Gas~
~
n~
B
%NGLs~
~
ZU~
%~
~
:~
%Average sales price:
Oil 5zGL@@E@~
%Natural GasQ@HzG@~
%NGLsfffff&3@zG/@~
R
%
BOE 5
ףp=A@QE;@~
z
%$____________________________D^lvj^RFlG?I+6gabV !1 )Created by Morningstar Document Research.0!(http://documentresearch.morningstar.com/=PF0*8X>
@"!!
l 8M
dMbP?_*+%,&٭e2?'٭e2?(٭e2?)٭e2?",D/??,SRC ENERGY INC
SIGNATURES
Balance SheetIncome Statement
Cash FlowsMajor CustomersMajor Customers (1)Change in estimatesCapitalized OverheadDivestituresDivestitures (1)2025 Senior Notes2025 Senior Notes (1)!Offsetting of Derivative Assets!Offsetting of Derivative As (1)!Offsetting of Derivative As (2)!Offsetting of Derivative As (3)!Fair Value Measurements and Dis!Fair Value Measurements and (1)!Fair Value of Financial Instrum!Fair Value of Financial Ins (1)
Stock optionsStock options (1)!Restricted stock units and stoc!Total Shareholder Return TSR PS!Total Shareholder Return TS (1)Corporate Goals PSUs Corporate Goals PSUs (1)!14 Revenue from Contracts with Volume CommitmentsVehicle LeasesVehicle Leases (1)Market ConditionsMarket Conditions (1)Core OperationsCore Operations (1)!Oil Natural Gas and NGL ProductDD A General and Administrative G ASources and UsesCapital ExpendituresAdjusted EBITDALegal ProceedingsItem 6 ExhibitsU }}$
SRC Energy Inc.10Q
05/02/2018LOE
$
Three Months Ended March 31,~
~
Production costs~
x~
F6
Workover~
~
Total LOE~
b{~
*:Per BOE:Production costs=
ףp=?\(\@Workover{Gz?{Gz? Total LOEzG?p=
ף@$____________________________1)Created by Morningstar Document Research.0(http://documentresearch.morningstar.com/6{tPw?"
=PF0*8X>
@
l Y
dMbP?_*+%,&٭e2?'٭e2?(٭e2?)٭e2?",D/??,SRC ENERGY INC
SIGNATURES
Balance SheetIncome Statement
Cash FlowsMajor CustomersMajor Customers (1)Change in estimatesCapitalized OverheadDivestituresDivestitures (1)2025 Senior Notes2025 Senior Notes (1)!Offsetting of Derivative Assets!Offsetting of Derivative As (1)!Offsetting of Derivative As (2)!Offsetting of Derivative As (3)!Fair Value Measurements and Dis!Fair Value Measurements and (1)!Fair Value of Financial Instrum!Fair Value of Financial Ins (1)
Stock optionsStock options (1)!Restricted stock units and stoc!Total Shareholder Return TSR PS!Total Shareholder Return TS (1)Corporate Goals PSUs Corporate Goals PSUs (1)!14 Revenue from Contracts with Volume CommitmentsVehicle LeasesVehicle Leases (1)Market ConditionsMarket Conditions (1)Core OperationsCore Operations (1)!Oil Natural Gas and NGL ProductLOE General and Administrative G ASources and UsesCapital ExpendituresAdjusted EBITDALegal ProceedingsItem 6 ExhibitsU }*}$
SRC Energy Inc.10Q
05/02/2018DD A
$
Three Months Ended March 31,(in thousands)~
~
+#Depletion of oil and gas properties~
4~
~"
Depreciation and accretion~
N
~
:
Total DD&A~
fC~
DD&A expense per BOE)\("@(\ @$____________________________1)Created by Morningstar Document Research.0(http://documentresearch.morningstar.com/0s.rB=PF0*8X>
@r
l h
dMbP?_*+%,&٭e2?'٭e2?(٭e2?)٭e2?",D/??,SRC ENERGY INC
SIGNATURES
Balance SheetIncome Statement
Cash FlowsMajor CustomersMajor Customers (1)Change in estimatesCapitalized OverheadDivestituresDivestitures (1)2025 Senior Notes2025 Senior Notes (1)!Offsetting of Derivative Assets!Offsetting of Derivative As (1)!Offsetting of Derivative As (2)!Offsetting of Derivative As (3)!Fair Value Measurements and Dis!Fair Value Measurements and (1)!Fair Value of Financial Instrum!Fair Value of Financial Ins (1)
Stock optionsStock options (1)!Restricted stock units and stoc!Total Shareholder Return TSR PS!Total Shareholder Return TS (1)Corporate Goals PSUs Corporate Goals PSUs (1)!14 Revenue from Contracts with Volume CommitmentsVehicle LeasesVehicle Leases (1)Market ConditionsMarket Conditions (1)Core OperationsCore Operations (1)!Oil Natural Gas and NGL ProductLOEDD ASources and UsesCapital ExpendituresAdjusted EBITDALegal ProceedingsItem 6 ExhibitsU }}$
SRC Energy Inc.10Q
05/02/2018*"General and Administrative ("G A")
$
Three Months Ended March 31,(in thousands)~
~
G&A costs incurred~
~
Capitalized costs~
~
"
Total G&A~
~
"NonCash G&A~
+~
)Cash G&A~
Rj~
VV Total G&A~
~
"NonCash G&A per BOE(\?zG?Cash G&A per BOEQ?Gz@G&A Expense per BOE@(\@$____________________________1)Created by Morningstar Document Research.0(http://documentresearch.morningstar.com/<ymaU!o?>B=PF0*8X>
@
l u
dMbP?_*+%,&٭e2?'٭e2?(٭e2?)٭e2?",D/??,SRC ENERGY INC
SIGNATURES
Balance SheetIncome Statement
Cash FlowsMajor CustomersMajor Customers (1)Change in estimatesCapitalized OverheadDivestituresDivestitures (1)2025 Senior Notes2025 Senior Notes (1)!Offsetting of Derivative Assets!Offsetting of Derivative As (1)!Offsetting of Derivative As (2)!Offsetting of Derivative As (3)!Fair Value Measurements and Dis!Fair Value Measurements and (1)!Fair Value of Financial Instrum!Fair Value of Financial Ins (1)
Stock optionsStock options (1)!Restricted stock units and stoc!Total Shareholder Return TSR PS!Total Shareholder Return TS (1)Corporate Goals PSUs Corporate Goals PSUs (1)!14 Revenue from Contracts with Volume CommitmentsVehicle LeasesVehicle Leases (1)Market ConditionsMarket Conditions (1)Core OperationsCore Operations (1)!Oil Natural Gas and NGL ProductLOEDD A General and Administrative G ACapital ExpendituresAdjusted EBITDALegal ProceedingsItem 6 ExhibitsU }8}$
SRC Energy Inc.10Q
05/02/2018Sources and Uses
$
Three Months Ended March 31,~
~
'Net cash provided by operations~
~
Capital expenditures~
~
~
Z
7/Net cash provided by other investing activities~
b~
P7/Net cash provided by (used in) equity financing~
~
F
activities2*Net cash used in debt financing activities~
R ?/'Net increase in cash, cash equivalents,~
f~
and restricted cash$____________________________1)Created by Morningstar Document Research.0(http://documentresearch.morningstar.com/4sg4YS=PF0*8X>
@
l
dMbP?_*+%,&٭e2?'٭e2?(٭e2?)٭e2?",D/??,SRC ENERGY INC
SIGNATURES
Balance SheetIncome Statement
Cash FlowsMajor CustomersMajor Customers (1)Change in estimatesCapitalized OverheadDivestituresDivestitures (1)2025 Senior Notes2025 Senior Notes (1)!Offsetting of Derivative Assets!Offsetting of Derivative As (1)!Offsetting of Derivative As (2)!Offsetting of Derivative As (3)!Fair Value Measurements and Dis!Fair Value Measurements and (1)!Fair Value of Financial Instrum!Fair Value of Financial Ins (1)
Stock optionsStock options (1)!Restricted stock units and stoc!Total Shareholder Return TSR PS!Total Shareholder Return TS (1)Corporate Goals PSUs Corporate Goals PSUs (1)!14 Revenue from Contracts with Volume CommitmentsVehicle LeasesVehicle Leases (1)Market ConditionsMarket Conditions (1)Core OperationsCore Operations (1)!Oil Natural Gas and NGL ProductLOEDD A General and Administrative G ASources and UsesAdjusted EBITDALegal ProceedingsItem 6 ExhibitsU }0.}$
SRC Energy Inc.10Q
05/02/2018Capital Expenditures
$
Three Months Ended March 31,~
~
%Capital expenditures for drilling and~
~
completion activities.&Acquisitions of oil and gas properties~
~
and leasehold*.&Capitalized interest, capitalized G&A,~
~
.S and other,$Accrual basis capital expenditures**~
(~
$____________________________1)Created by Morningstar Document Research.0(http://documentresearch.morningstar.com/4{oc* }znF=PF0*8X>
@r
l
dMbP?_*+%,&٭e2?'٭e2?(٭e2?)٭e2?",D/??,SRC ENERGY INC
SIGNATURES
Balance SheetIncome Statement
Cash FlowsMajor CustomersMajor Customers (1)Change in estimatesCapitalized OverheadDivestituresDivestitures (1)2025 Senior Notes2025 Senior Notes (1)!Offsetting of Derivative Assets!Offsetting of Derivative As (1)!Offsetting of Derivative As (2)!Offsetting of Derivative As (3)!Fair Value Measurements and Dis!Fair Value Measurements and (1)!Fair Value of Financial Instrum!Fair Value of Financial Ins (1)
Stock optionsStock options (1)!Restricted stock units and stoc!Total Shareholder Return TSR PS!Total Shareholder Return TS (1)Corporate Goals PSUs Corporate Goals PSUs (1)!14 Revenue from Contracts with Volume CommitmentsVehicle LeasesVehicle Leases (1)Market ConditionsMarket Conditions (1)Core OperationsCore Operations (1)!Oil Natural Gas and NGL ProductLOEDD A General and Administrative G ASources and UsesCapital ExpendituresLegal ProceedingsItem 6 ExhibitsU }2}$
SRC Energy Inc.10Q
05/02/2018Adjusted EBITDA
$
Three Months Ended March 31,~
~
Adjusted EBITDA:
Net income~
~
6
.&Depreciation, depletion, and accretion~
fC~
( Stockbased compensation expense~
+~
).&Marktomarket of commodity derivative
contracts:2*Total (gain) loss on commodity derivatives~
VZ~
6 contracts0(Cash settlements on commodity derivative~
~
F contracts0(Interest income, net of interest expense~
~
Income tax expense~
Z ?Adjusted EBITDA~
~
n$____________________________1)Created by Morningstar Document Research.0(http://documentresearch.morningstar.com/@Dth`
,J58th@=PF0*8X>
@
l R
dMbP?_*+%,&٭e2?'٭e2?(٭e2?)٭e2?",D/??,SRC ENERGY INC
SIGNATURES
Balance SheetIncome Statement
Cash FlowsMajor CustomersMajor Customers (1)Change in estimatesCapitalized OverheadDivestituresDivestitures (1)2025 Senior Notes2025 Senior Notes (1)!Offsetting of Derivative Assets!Offsetting of Derivative As (1)!Offsetting of Derivative As (2)!Offsetting of Derivative As (3)!Fair Value Measurements and Dis!Fair Value Measurements and (1)!Fair Value of Financial Instrum!Fair Value of Financial Ins (1)
Stock optionsStock options (1)!Restricted stock units and stoc!Total Shareholder Return TSR PS!Total Shareholder Return TS (1)Corporate Goals PSUs Corporate Goals PSUs (1)!14 Revenue from Contracts with Volume CommitmentsVehicle LeasesVehicle Leases (1)Market ConditionsMarket Conditions (1)Core OperationsCore Operations (1)!Oil Natural Gas and NGL ProductLOEDD A General and Administrative G ASources and UsesCapital ExpendituresAdjusted EBITDAItem 6 ExhibitsU }0}$ }}$
SRC Energy Inc.10Q
05/02/2018Legal Proceedings
Period
(
Total Number of Shares Purchased
$
Average Price Paid per Share.&January 1, 2018  January 31, 2018 (1)~
Q!@0(February 1, 2018  February 28, 2018 (1)~
zGa"@*
"March 1, 2018  March 31, 2018 (1)
~
ʔ
ףp=
"@
Total~
f$____________________________1)Created by Morningstar Document Research.0(http://documentresearch.morningstar.com/,~rfr=PF0*8X>
@B
l +LG
dMbP?_*+%,&٭e2?'٭e2?(٭e2?)٭e2?",D/??,SRC ENERGY INC
SIGNATURES
Balance SheetIncome Statement
Cash FlowsMajor CustomersMajor Customers (1)Change in estimatesCapitalized OverheadDivestituresDivestitures (1)2025 Senior Notes2025 Senior Notes (1)!Offsetting of Derivative Assets!Offsetting of Derivative As (1)!Offsetting of Derivative As (2)!Offsetting of Derivative As (3)!Fair Value Measurements and Dis!Fair Value Measurements and (1)!Fair Value of Financial Instrum!Fair Value of Financial Ins (1)
Stock optionsStock options (1)!Restricted stock units and stoc!Total Shareholder Return TSR PS!Total Shareholder Return TS (1)Corporate Goals PSUs Corporate Goals PSUs (1)!14 Revenue from Contracts with Volume CommitmentsVehicle LeasesVehicle Leases (1)Market ConditionsMarket Conditions (1)Core OperationsCore Operations (1)!Oil Natural Gas and NGL ProductLOEDD A General and Administrative G ASources and UsesCapital ExpendituresAdjusted EBITDALegal ProceedingsU }I }$ }6
+
SRC Energy Inc.10Q
05/02/2018Item 6. Exhibits
Exhibit
ExhibitNumber?@0(Certification of the Principal Executive
.
&Officer pursuant to Rule 13a14(a) and1)Rule 15d14(a) of the Securities Exchange4,Act of 1934, as adopted, pursuant to Section/'302 of the SarbanesOxley Act of 2002 *333333?@0(Certification of the Principal Financial.&Officer pursuant to Rule 13a14(a) and1)Rule 15d14(a) of the Securities Exchange4,Act of 1934, as adopted, pursuant to Section/'302 of the SarbanesOxley Act of 2002 *@@1)Certifications of the Principal Executive/'Officer and Principal Financial Officer5pursuant to 18 USC 1350, as adopted, pursuant0(to Section 906 of the SarbanesOxley Act
of 2002 **101.INSXBRL Instance Document101.SCH&XBRL Taxonomy Extension Schema101.CAL4,XBRL Taxonomy Extension Calculation Linkbase101.DEF3+XBRL Taxonomy Extension Definition Linkbase101.LAB.&XBRL Taxonomy Extension Label LinkbaseDz lsgCc{)BYM !"#$%&'()* 101.PRE , $XBRL Taxonomy Extension Presentation!!!Linkbase"""### $*$$Filed herewith
%**%%Furnished herewith&'$(____________________________1))Created by Morningstar Document Research.0*(http://documentresearch.morningstar.com/a=
=PF0*8X>
@**))((
Root Entry FBook
!"#$%&'()*+,./0123456789:;<=>?@ABCDEFGHIJKLMNOPQRSTUVWXYZ[\]^_`abcdefghijklmnopqrstuvwxyz{}~
!"#$%&'()*+,./0123456789:;<=>?@ABCDEFGHIJKLMNOPQRSTUVWX