RSP Overview Market Snapshot Permian Basin Pure Play NYSE Symbol: RSPP Market Cap(1): 2.0 billion Net Debt(2): 0.1 billion Enterprise Value: 2.1 billion Dawson Area Pro Forma Production and Reserves(3) Average Daily Production…
RSP Permians Strategy Focused on Maximizing Returns to Shareholders Acquire Contiguous Delineate Acreage Position Liquids-Rich Assets Across Multiple Zones - Oil-weighted - Utilize data from legacy vertical - Contiguous acreage…
Company Highlights Overview RSP Multiple Target Zones Provide Substantial Horizontal Inventory(1) Attractively positioned asset base Large, concentrated acreage blocks in core of Midland Basin Oil-weighted (65% oil, 84%…
Q1 2014 Financial Update Financial Update Pro Forma Daily Production (2) During the first quarter of 2014, production on a pro forma basis Boe/d 10,000 averaged approximately 9.3 MBoe/d, a production increase of 9,339 19% over Q4…
Current Activity Operations Update Recent Well Results Lateral 30-Day IP 2nd operated vertical rig arrived in Q1 Well Name County Length (ft) Zone (Boe/d) Status 4th operated horizontal rig arrived in April Kemmer 4210LS Headlee…
Recent Acquisition Overview Bolt-On Acquisitions East Cowden Acquisition Dude Acquisition Since IPO, RSP has closed 3 separate transactions adding horizontal inventory Combined purchase price of 79 million funded by borrowings under…
Reserves, Hedging, Liquidity and 2014 Outlook Pro Forma Proved Reserves as of 12/31/13(1) Liquidity (as of March 31, 2014) 55.6 MMBoe Cash 10.7 Natural Gas 16% Credit Facility 110.0 Net Debt 99.3 PD 42% NGLs Revolver Borrowing…
Asset Overview 11
RSPs Focus Area Is in One of the Most Prolific Areas of the Midland Basin RSPs Acreage Midland Basin Historical Oil Production Heat Map Best-month oil Borden production (bbl) Dawson Area Dawson Area 6,000 4,000-6,000 3,000-4,000…
Strong Vertical Operator Performance Compared to Midland Basin Peers Operator Well Distribution by Peak Month Production (2010-2012) 100% 90% 80% 70% 60% Top 10% 75-90% 50% 50-75% 40% 25-50% 10-25% 30% Bottom 10%…
Leader in Multiple Pay Zones in the Midland Basin RSP Permian and other industry players have unlocked multiple target zones for horizontal drilling RSP Success / Industry Commentary Industry Horizontal Drilling Targets Formations…
Extensive Multi-Year Drilling Inventory with Strong Rates of Return Identified Vertical Highlights Identified Horizontal Locations Locations Multi-year inventory of horizontal and 2,500 vertical drilling projects Operated horizontal…
Horizontal Drilling Driving Production Growth Experienced Midland Basin technical team has a proven track record of production growth - 80% of D&C capex directed to horizontal drilling - Targeting 40% production growth in 2014 10,000…
Large, Concentrated Acreage Blocks Provide Operating Advantages Large, Concentrated Acreage Blocks Map of Focus Area RSP leasehold ideally situated for horizontal development North to South blocked-up position, which lays out…
Wolfcamp B Horizontal Results Remain Strong RSP Activity Wolfcamp A/B Type Curve 27 producing Wolfcamp B wells (9 operated) 7,000' Lateral 11 waiting on completion (2 operated) and 3 drilling Well Cost (MM) 7.5 (1 operated) EUR…
Early Spraberry Results Above Expectations RSP Activity Lower Spraberry Type Curve 7 producing Lower Spraberry wells (6 operated) 3 waiting on completion and 3 drilling (4 total operated) 7,000' Lateral Kemmer 4210H (5,247 lateral)…
Spraberry Horizontal Potential Provides Significant Upside Leader in the Spraberry Substantial Horizontal Spraberry Inventory - Net Locations First operator to drill horizontal Lower Spraberry and 500 474 horizontal Middle Spraberry…
Consistent Pay Intervals Across RSPs Contiguous Acreage Position Midland to Dawson Co. Stratigraphic Cross Section West to East Geologic Analog All target intervals are present across RSPs acreage Similar log characteristics with…
Horizontal Spraberry Activity Strong Early Results Map of Spraberry Activity RSP Permian Pioneer Cross Bar Ranch 2017LS (Middle Spraberry) University 7-43 16H (Lower Spraberry) Drilling 24-hr IP: 1,660 Boe/d Cum: 73 MBoe 6,995…
Midland Basin Horizontal Wells Industry Activity RSPs successful Wolfcamp results are complemented by nearby operators announcements Map of Midland Basin Activity RSP Permian Garza Pioneer Lynn Kent University 7-43 10H (Wolfcamp D /…
RSPs Horizontal Success Horizontal Well Locator RSP Operated Horizontal Wells Summary 3-Stream Cumulative Martin Lateral Well Name County Well Zone 30-day IP Production Length (ft) 5 (Boe/d) (MBoe) Andrews 3 6 2 1 Cross Bar…
RSPs Key Horizontal Development Pilot Projects For 2014 Commentary 2014 Planned Horizontal Wells 1. Johnson Ranch 1018 & 1019 2-well stacked offsetting pads for Wolfcamp B Wolfcamp A spacing pattern test. Project 1 on production by…
Wolfcamp A/B Spacing Pilot Encouraging Early Results Cross Bar Ranch 1717H Wolfcamp A/B Pilot Map of Cross Bar Ranch 1717 1717WA - Flowing 1,012 Boe/d (89% oil) on day 14 - Peak rate not yet reached 1717WB - Flowing 704 Boe/d (95%…
Development Scheme and Multi-Zone Well Pads 5 horizontal laterals per zone on each 960-acre unit 5 target pay zones 25 horizontal long laterals with potential upside from additional stacked pay zones Horizontal Fairway…
Horizontal Well Costs Coming Down Capital costs decreasing due to experience, efficiencies, completion / well design optimization, and pad development Operated Horizontal Drilling & Completion Costs Per Average Operated Drilling Costs…
RSPs Pro Forma Capitalization and Hedging Pro Forma Capitalization Hedging Detail ( in millions) 3/31/2014 Weighted Weighted Weighted Average Average Average Cash 11 Floor price Ceiling price Swap price Description & Production…
Adjusted EBITDAX and Adjusted Net Income Reconciliation Adjusted EBITDAX and Adjusted Net Income Reconciliation ( in thousands, except per unit amounts) RSP Permian, Inc. Pro Forma Actual & Predecessor Quarter Ended Quarter Ended…
Identified Opportunities for Future Upside RSPs well costs are decreasing and IP rates outperforming type curves, leading to Increased Economics/ increasing economics Locations RSP evaluating increasing lateral density and drilling…
Loading...
