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19th Annual Executive Oil Conference – Concho Resources, Inc.

Concho Resources, Inc. · Oct 15, 2013 · 19 slides

Investor presentation from the Shale Experts oil & gas presentation and slide database. Every page is imaged and its text indexed for search across operators, plays, basins and time.

Slides

  1. 19th Annual Executive Oil Conference – Concho Resources, Inc. – slide 1
    October 15, 2013 Executive Oil Conference Presentation
  2. 19th Annual Executive Oil Conference – Concho Resources, Inc. – slide 2
    Concho Resources Inc. Company Highlights Permian Basin Leading pure-play Permian Basin operator 447 MMBoe year-end 2012 estimated proved reserves1 422% reserve replacement ratio2 Results in 2Q 2013: Drilled 196 gross wells…
  3. 19th Annual Executive Oil Conference – Concho Resources, Inc. – slide 3
    Permian Basin Oil Growth Total Permian Basin Oil Production (MBopd) 2,000 1,168 1,030 938 853 880 882 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 Historical Projected Source: Independent research…
  4. 19th Annual Executive Oil Conference – Concho Resources, Inc. – slide 4
    Permian Basin Horizontal Drilling Activity Horizontal Rig Growth since 1Q11 % Horizontal % Vertical 495 503 486 434 439 436 441 438 410 420 360 75% 72% 68% 60% 59% 55% 66% 77% 88% 84% 87% 40% 41% 45% 25% 28% 32% 34% 16%…
  5. 19th Annual Executive Oil Conference – Concho Resources, Inc. – slide 5
    Permian Basin Current Activity Delaware Basin Permian Basin Rig Activity Midland Basin Rig count: 147 Rig count: 228 78% horizontal (114) 36% horizontal (81) Over 1,500 horizontal wells with Over 450 horizontal wells with first…
  6. 19th Annual Executive Oil Conference – Concho Resources, Inc. – slide 6
    Delaware Basin Impressive Track Record Horizontal Delaware Basin Production1 Delaware Basin Operations Production (Mboepd) Average Rig Count Horizontal Delaware Basin production grew 31.7 37% in 2Q13 over 1Q13 a new record Crude…
  7. 19th Annual Executive Oil Conference – Concho Resources, Inc. – slide 7
    Northern Delaware Basin Horizontal Well Performance Northern Delaware Basin Quarterly Well Performance Rate (Boepd) Avg. Lateral % Oil1 Deep 8 57 2Q13 4,402' 77% 1 ,407 35 wells Lusk 7 65 1Q13 4,144' 71% 1 ,361 18 wells…
  8. 19th Annual Executive Oil Conference – Concho Resources, Inc. – slide 8
    Northern Delaware Basin Development and Inventory Mulit-Zone Well Count1 Target Zone Average Rate (Boepd) YE12 Inventory (30-Day / 24-Hr Peak) 576 / 1,030 Pending 2 55 684 / 1,233 1,016 4,000 5,000 Gross Interval 115…
  9. 19th Annual Executive Oil Conference – Concho Resources, Inc. – slide 9
    Emerging Play Southern Delaware Basin Southern Delaware Basin Southern Delaware Basin Activity Primary activity to date has been focused on Reeves County North Harpoon and Big Chief prospects Successful drilling results and…
  10. 19th Annual Executive Oil Conference – Concho Resources, Inc. – slide 10
    Emerging Play Horizontal Wolfberry (Midland Basin) Horizontal Wolfberry Midland Basin Horizontal Wolfberry Activity Increasing 2013 horizontal Wolfberry activity for 2nd time this year Plan to drill 11 additional horizontal wells by…
  11. 19th Annual Executive Oil Conference – Concho Resources, Inc. – slide 11
    Why Concho Established premier asset position in the Permian Basin Delaware Basin Midland Basin New Mexico Shelf Identified significant resource potential across core assets capable of delivering long-term growth Building…
  12. 19th Annual Executive Oil Conference – Concho Resources, Inc. – slide 12
    Appendix
  13. 19th Annual Executive Oil Conference – Concho Resources, Inc. – slide 13
    Permian Basin Central Delaware Platform Midland Basin Basin DELAWARE CENTRAL MIDLAND PERIOD SERIES BASIN PERIOD SERIES PLATFORM PERIOD SERIES BASIN FORMATION FORMATION FORMATION TANSILL TANSILL LEONARD GUADALAUPE…
  14. 19th Annual Executive Oil Conference – Concho Resources, Inc. – slide 14
    Permian Basin Oil Takeaway Capacity Existing Takeaway Borger Cushing Refineries MBopd Big Spring 70 Holly Frontier Navajo 100 Borger Refinery (net from Permian) 115 Western 125 Wichita Falls Total 410 Oil Pipelines MBopd…
  15. 19th Annual Executive Oil Conference – Concho Resources, Inc. – slide 15
    Permian Basin NGL Takeaway Capacity Existing Takeaway NGL Pipelines MBblpd Existing NGL Infrastructure 707 Inflows from Rockies Recent NGL Infrastructure Additions Lone Star West Texas 210 DCP Sand Hills 200 Total 1,117…
  16. 19th Annual Executive Oil Conference – Concho Resources, Inc. – slide 16
    EBITDAX Reconciliation Historical EBITDAX T hree T hree Six Last Months Ended Months Ended Months Ended T welv e Months March 31, June 30, June 30, June 30, (in thousands) 2013 2013 2012 2013 2012 2013 Net incom e…
  17. 19th Annual Executive Oil Conference – Concho Resources, Inc. – slide 17
    Adjusted Net Income Reconciliation Historical Adjusted Net Income T hree T hree Six Months Ended Months Ended Months Ended March 31, June 30, June 30, (in thousands, ex cept per share am ounts) 2013 2013 2012 2013 2012 Net incom e…
  18. 19th Annual Executive Oil Conference – Concho Resources, Inc. – slide 18
    Unhedged Cash Margin Reconciliation Historical Unhedged Cash Margin 2012 2013 ( in thousands, ex cept per unit data) 2Q12 3Q12 4Q12 1Q13 2Q13 Net incom e . 31 9,297 5,988 7 5,287 30,093 84,7 00 Ex ploration and abandonments 1 4,398…
  19. 19th Annual Executive Oil Conference – Concho Resources, Inc. – slide 19
    Hedges as of 10/1/13 Current Hedges as of 10/1/13 2013 4Q T otal 2014 2015 2016 2017 Oil Swaps: (a) V olume (Bbl) .......................................... 4,61 4,000 4,61 4,000 1 5,040,000 1 1 ,7 1 7 ,000 429,000 1 68,000 Price…

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