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UBS Global Oil and Gas Conference – Concho Resources, Inc.

Concho Resources, Inc. · May 20, 2015 · 15 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. UBS Global Oil and Gas Conference – Concho Resources, Inc. – slide 1
    Investor Presentation MAY 2015
  2. UBS Global Oil and Gas Conference – Concho Resources, Inc. – slide 2
    Concho Resources Strategic acreage position in the Permian Basin 1.1 MM gross (700,000 net) acres Core areas in the Delaware Basin, Midland Basin and New Mexico Shelf High-quality, long-life reserve base 637.2 MMBoe estimated…
  3. UBS Global Oil and Gas Conference – Concho Resources, Inc. – slide 3
    The Concho Advantage Concentrated, high-quality acreage positions in the Delaware Basin, Midland Basin and New Mexico Shelf High-Quality Assets Successful track record of strategic and bolt-on acquisitions with development upside…
  4. UBS Global Oil and Gas Conference – Concho Resources, Inc. – slide 4
    Recent Results Highlight Execution Strength 1Q15 Total Production Growth Delaware Basin Growth Engine: OIL PRODUCTION 30% Growth 132.2 Horizontal Production Growth Year-over-Year Marks 21st 124.8 Consecutive Quarter 113.5 107.8…
  5. UBS Global Oil and Gas Conference – Concho Resources, Inc. – slide 5
    2015 Capital Program Rig Program Progression Capital Program Allocation FY15 OUTLOOK Production Growth Target 37 12% 18% to 22% 35 19 Rigs since 4Q14 12% CAPTURING 30 SERVICE COST REDUCTIONS 24 20% Savings vs. YE14 Well…
  6. UBS Global Oil and Gas Conference – Concho Resources, Inc. – slide 6
    Northern Delaware Basin ACREAGE POSITION Significant resource captured from large 365,000 gross acreage position and multiple target zones (255,000 net) acres Continue to deliver industry-leading results in the northern Delaware…
  7. UBS Global Oil and Gas Conference – Concho Resources, Inc. – slide 7
    Execution-Driven Capital Efficiency NORTHERN DELAWARE BASIN Operational Drilling Days Drilling Cost/Lateral Foot (/Ft) Efficiencies that 36 Lateral Length (39)% Improve Returns and Up 17% Withstand Price 27 589 Cycles (25)%…
  8. UBS Global Oil and Gas Conference – Concho Resources, Inc. – slide 8
    Resource and Results NORTHERN DELAWARE BASIN Deep Inventory of Identified Horizontal Locations Well Avg. Peak Rate (Boepd) Identified Wells per Formation Count1 30-Day (% Oil) 24-Hour Locations Section Brushy Canyon 19 632 (82%)…
  9. UBS Global Oil and Gas Conference – Concho Resources, Inc. – slide 9
    Southern Delaware Basin ACREAGE POSITION LOVING Strong well results driven by enhanced geologic 275,000 gross model and completion design (170,000 net) acres Added 8 new horizontal wells with at least 30 WARD days of production…
  10. UBS Global Oil and Gas Conference – Concho Resources, Inc. – slide 10
    Midland Basin HORIZONTAL CORE Targeting oil-prone, repeatable Wolfcamp and Spraberry zones ACREAGE POSITION Strong well results driven by drilling and completion optimization 200,000 gross (110,000 net) acres ANDREWS MARTIN Added 12…
  11. UBS Global Oil and Gas Conference – Concho Resources, Inc. – slide 11
    New Mexico Shelf ACREAGE POSITION Deep inventory of high-return, low-cost 160,000 gross locations (110,000 net) acres 1,600 horizontal Yeso locations CHAVES 1,000 vertical Yeso locations CURRENT RIG Horizontal drilling and…
  12. UBS Global Oil and Gas Conference – Concho Resources, Inc. – slide 12
    Key Takeaways Optimizing drilling and completion techniques, improving resource recovery and returns Executing a returns-based, disciplined capital program with operational flexibility Maintaining financial strength is a top…
  13. UBS Global Oil and Gas Conference – Concho Resources, Inc. – slide 13
    Appendix
  14. UBS Global Oil and Gas Conference – Concho Resources, Inc. – slide 14
    2015 Operational & Financial Outlook Production 2Q15 OUTLOOK Year-over-year growth 18% - 22% Production: Oil mix 63% - 65% 138 - 142 MBoepd Price realizations, excluding commodity derivatives (% of NYMEX) Crude oil (per Bbl) 90% -…
  15. UBS Global Oil and Gas Conference – Concho Resources, Inc. – slide 15
    Hedge Position 2Q15 - 4Q15 2015 OIL HEDGES Second Quarter Third Quarter Fourth Quarter Total 2016 2017 15.7 MMBbls Oil Swaps: (a) 65% Production1 Volume (Bbl) 5,114,000 5,719,000 4,904,000 15,737,000 14,859,000 5,568,000 Price (Bbl)…

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