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June 2015 Corporate presentation – Parsley Energy Inc.

Parsley Energy Inc. · Jun 2, 2015 · 20 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. June 2015 Corporate presentation – Parsley Energy Inc. – slide 1
    Investor Presentation June 2015
  2. June 2015 Corporate presentation – Parsley Energy Inc. – slide 2
    Parsley Energy Overview Market Snapshot Production Premier Acreage Position NYSE Symbol: PE 1Q15 Production: 18.9 MBoe/d Market Cap: 2,356 MM(1) 1Q15 Production Mix Net Debt: 529 MM(2) Oil: 59% Enterprise Value: 2,885 MM(3) Natural Gas:…
  3. June 2015 Corporate presentation – Parsley Energy Inc. – slide 3
    Strong Production Growth Profile Q1 production up Q/Q Production Raised FY2015 despite estimated 1,500 increased production guidance by Boe/d weather impact again in April 12% at the midpoint 2021.5 21.5(1) 1.5 1819 18.9…
  4. June 2015 Corporate presentation – Parsley Energy Inc. – slide 4
    Wolfcamp B Wells Stronger Every Quarter Wolfcamp B well productivity up 32% Y/Y(1) 250 231 216 204 207 200 175 150 100 50 0 Q1 2014 Q2 2014 Q3 2014 Q4 2014 Q1 2015 Peak 30-Day Boepd/1,000 feet Sand per…
  5. June 2015 Corporate presentation – Parsley Energy Inc. – slide 5
    Introducing 1 MMBoe EUR Wolfcamp Type Curve Type curve updated to reflect Parsley well results; Rate of Return (%) / Value, PV-10 (MM) previous type curve based on industry well results D&C Oil Price(1) 800 MBoe 1 MMBoe 1.2 MMBoe…
  6. June 2015 Corporate presentation – Parsley Energy Inc. – slide 6
    Midland Basin Activity Concentrated in Parsleys Focus Area Location of offset activity supports value of Parsleys acreage position Roughly half of the horizontal rigs running in the Midland Basin are positioned in Parsleys Focus…
  7. June 2015 Corporate presentation – Parsley Energy Inc. – slide 7
    Stacked Lateral Potential 1 Mile Horizontal 1 Mile Spacing 1 Mile Assumptions 1 Mile 1 Mile PREVIOUS CURRENT Middle Spraberry 990 Lower Spraberry 870 660 990 Wolfcamp A 660 870 660 Wolfcamp B 660 660 Wolfcamp C…
  8. June 2015 Corporate presentation – Parsley Energy Inc. – slide 8
    Inventory Growth Horizontal Drilling Inventory(1) 23% Core(2) Tier I(3) Total(4) Gross Net Gross Net Gross Net M Spraberry(5) 73 56 --- --- 73 56 2,500 2,237 L Spraberry 153 117 131 98 284 215 Wolfcamp A 283 236 163 125 447 361…
  9. June 2015 Corporate presentation – Parsley Energy Inc. – slide 9
    2015 Capital Program Update Efficient Spending Plan Capital Program Overview 600 Production up 46% 25 Efficient spending plan generates 40%+ Y/Y production growth Y/Y at midpoint on sharply reduced capital budget, with production…
  10. June 2015 Corporate presentation – Parsley Energy Inc. – slide 10
    Infrastructure Investments Prepare for Production Growth Over 90 miles of water transfer installed by end Q2 tied to 18 disposal systems Expected to reduce water hauling (1 LOE line item) by 60% Oil pipeline operational 30 tank…
  11. June 2015 Corporate presentation – Parsley Energy Inc. – slide 11
    Promising Southern Delaware Acreage Position Leasehold and Seismic Update Flexible development schedule; secured 3-year lease extensions covering majority of Southern Delaware acreage Proprietary 3D seismic survey confirms limited…
  12. June 2015 Corporate presentation – Parsley Energy Inc. – slide 12
    Strong Liquidity Position Enhances Flexibility Strong balance sheet to fund drilling plan through 2016, with 527 Pro Forma Liquidity(1) million of pro forma liquidity based on committed portion of borrowing base ( millions) Common…
  13. June 2015 Corporate presentation – Parsley Energy Inc. – slide 13
    Strong Hedge Position Enhances Financial Strength Most of estimated 2015 oil production (As of end 1Q15) 2Q15 3Q15 4Q15 1Q16 2Q16 3Q16 4Q16 1Q17 2Q17 hedged, more barrels hedged in 2016 than Put Spreads (MBbl/day) 7.6 9.1 10.3 11.0 12.2…
  14. June 2015 Corporate presentation – Parsley Energy Inc. – slide 14
    Gas Hedge Position Boosts Realizations (As of end 1Q15) 2Q15 3Q15 4Q15 Three Way Collars (1) (BBtu/day) 9.9 9.8 9.8 Call Price (/MMBtu) 5.25 5.25 5.25 Put Price (/MMBtu) 4.50 4.50 4.50 Short Put Price (/MMBtu) 3.75 3.75…
  15. June 2015 Corporate presentation – Parsley Energy Inc. – slide 15
    Investment Highlights Premier asset quality, with acreage in deepest, thickest portion of Midland Basin Superior Well At strip prices, Wolfcamp wells generating 60% ROR and 8 MM PV-10 Results Robust IPs from Core area Wolfcamp B wells…
  16. June 2015 Corporate presentation – Parsley Energy Inc. – slide 16
    Appendix
  17. June 2015 Corporate presentation – Parsley Energy Inc. – slide 17
    Q1 2015 Selected Operating Data For the three months ended March 31, 2015 2014 (Unaudited) Net production volumes: Oil (MBbls) 1,009 491. Natural gas (MMcf) 2,302 1,016. NGLs (MBbls) 310 165. Total (MBoe)(1) 1,703 825.…
  18. June 2015 Corporate presentation – Parsley Energy Inc. – slide 18
    Q1 2015 Adjusted Net Income For the three months ended (unaudited, thousands) March 31, 2015 Net loss attributable to Parsley Energy Inc. Stockholders (17,024) Derivative gain (7,142) Net cash receipts on settled derivative…
  19. June 2015 Corporate presentation – Parsley Energy Inc. – slide 19
    Q1 2015 Adjusted EBITDA For the three months ended March 31, 2015 2014 (unaudited, thousands): Net income (loss) attributable to Parsley Energy, Inc. stockholders (17,024) 1,983 Net loss attributable to noncontrolling interests…
  20. June 2015 Corporate presentation – Parsley Energy Inc. – slide 20
    Reserve Detail Reserve summary, as of 12/31/14, prepared by Netherland, Sewell & Associates, Inc. (NSAI) Drill-bit F&D of 19.68/Boe(1) Reserves up 66% Y/Y PDP up 126% Y/Y PV-10 up 79% Y/Y (2) Oil (Mbbls) Nat Gas (Mmcf) NGL…

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