RSP Permian Overview Large, contiguous, core acreage blocks in the Midland Contiguous Acreage in the Core of the Midland Basin Basin 188,000 net effective horizontal acres (1) and 47,000 net surface acres (95% operated, 99% rights…
Financial Highlights First Quarter 2015 Financial Results Q1 2015 production averaged 15.9 MBoe/d (75% Oil, 14% NGLs, 11% Natural Gas) Increase of 86% compared to Q1 2014 Q1 2015 exit rate production of 17.7 MBoe/d (1) Excluding…
Successful Track Record of Production Growth RSP has doubled production since the IPO in early 2014 and expects growth to continue Monthly Net Production Over Operating History (1) Annual Production Growth (1) 20,000 20,000…
Historically Low Cost Structure and Strong Margins Our operations and commodity mix allow us to generate healthy cash margins in a challenging environment Historical Cash Margins and Costs (per Boe) Realized Price per Boe (Excluding…
Proved Reserves Doubled in 2014 Proved Reserves Growth Approximately doubled both Proved Developed and Proved Undeveloped Reserves year over year 106.4 Only 5% of RSPs horizontal locations are booked as PUDs 100 Reserve life of…
Leader in Operational Efficiency Overview Hedged Cash Margin per Boe (1) 60.00 During 2014 and Q1 2015, RSP has maintained strong 51.37 cash margins by keeping cash operating costs per unit 50.00 46.52 41.69 low and realizations…
RSP Deferred Completion Activity During the Quarter Q1 Drilling & Completion Activity Summary Drilled Completed WOF During the first quarter, RSP completed 8 horizontal wells as an operator (2 Middle Spraberry, 4 Lower Spraberry and…
Recent Operational Highlights Notable Recent Operational Highlights Q1 Operated Horizontal Completions Three-well pad: Lower Spraberry, Spanish Trail 4817 Wolfcamp B and Middle Spraberry Cross Bar Average lateral length of 7,400,…
Leader in Multi-Zone Horizontal Development in the Midland Basin As on operator, RSP has tested at least 7 different combinations of multi-zone, multi-well pad development RSP expects strong results as it develops across all areas of…
Update on Horizontal Well Costs Target well costs have decreased by 30% since peak levels in Q4 2014, 20% due to lower service costs and another 10% due to increased efficiencies The illustration below depicts a 7,500 lateral well at…
Lower Targeted Well Costs Result in Attractive Returns The 30% decrease in estimated D&C costs is equivalent to a 20 increase in the price of oil over the life of the well These attractive single-well economics allow RSP to continue…
Core Acreage is Well-Suited for Development Advantages for Contiguous RSPs Acreage Positions in Focus Area Core of the Midland Basin Operating areas in a concentrated proximity Shared infrastructure 89% HBP 100% All Depths…
RSP Full Development Test on Johnson Ranch Johnson Ranch Full 960-Acre Development 1021 WA 1017 (WD) WA N At Johnson Ranch, RSP has completed 10 Wolfcamp A / 1019 WA 1017 (WB) WA Wolfcamp B wells across a mile on a 960-acre tract…
Continued Success and Development at Spanish Trail Lease RSP Spanish Trail Development RSP now has 9 horizontal wells on production and 5 horizontal wells waiting on completion on its Spanish N Trail lease Results remain among the…
Recent Middle Spraberry Results Significantly Outperforming Type Curve Johnson Ranch Recent Middle Spraberry Well Results 912 Avg 30 Average Average 90- 1811 Lateral Avg 30 day Day IP / 90-Day Cum Day Cum / Cross Bar Ranch Well Name…
Leading Wolfcamp A Development in this Area of the Midland Basin 1019 1017 Wolfcamp A wells have outperformed Wolfcamp B type 1717 curve, and zone will be included in initial development 1018 1017 4 additional wells starting…
LS Glasscock County Update 2015 Drilling Program Testing Multiple Horizons DEAN N GLASSCOCK CO. WC A WOODY 520 WC B BRUNSON 544 LS DEAN CALVERLEY WC A 655 U WC B L WC B RSP Acreage 19
RSP in a Strong Financial Position to Execute its Strategy Financial Strategy Pro Forma Capitalization Table (1) Following its equity offering in Q1 2015, RSP ( in millions) 3/31/2015 has over 600 million of liquidity Cash 122…
RSP Permian Planning for the Future Focus on Executing Development of High-Quality Multi-Year Inventory Maximize Efficiency by Continuing 100% Multi-Well, Multi-Zone Pad Development Leverage Results of Science and Pilots in Setting…
Appendix 22
Adjusted EBITDAX and Adjusted Net Income Reconciliation Adjusted EBITDAX and Adjusted Net Income Reconciliation ( in thousands, except per unit amounts) Quarter Ended March 31, 2015 2014 Actual Pro Forma Actual Revenues Oil sales…
Protecting Cash Flows Through Hedging Program RSP has hedged the majority its projected PDP oil production and approximately half of its expected total oil production through the end of 2015 RSP has begun to layer on hedges for 2016…
Extensive Multi-Year Drilling Inventory with Strong Rates of Return Identified Horizontal Locations Identified Vertical Locations 3,500 3,250 Operated horizontal locations booked as 5 wells across a 3,000 section in Wolfcamp (1,100…
Wolfcamp A/B Horizontals Continue to Improve RSP has 17 wells in the Wolfcamp B and 3 wells in the Wolfcamp A with production history, with an average lateral length of 6,500 Type curve reflects an estimation of the average well in…
Lower Spraberry Results Continue to Exceed Expectations RSP has 15 wells in the Lower Spraberry with production history, with an average lateral length of 7,150 Type curve reflects an estimation of the average well in RSPs remaining…
Initial Middle Spraberry Results Reflect Upside RSP has 11 wells in the Middle Spraberry with production history, with an average lateral length of 7,400 Type curve reflects an estimation of the average well in RSPs remaining Focus…
RSPs Type Curves and Results Compared to Midland Basin Peers RSPs well results compare favorably with other Midland producers type curves, especially in Midland, Martin and Andrews counties, which along with Glasscock county comprise…
RSP Permian 2015 Guidance Production Capital Program Overview 20,000 (MM) 18,500 17,000 Drilling & Completion 380 - 420 17,500 Boe/d 14,000 Infrastructure & Other 20 - 30 11,000 Total Capital Budget 400 - 450 8,000 11,868…
Cross Bar Microseismic Conclusions and Implications Hypothetical Development Scheme Implied by Cross Bar Ranch Microseismic Study Preliminary Microseismic Conclusions: Middle Spraberry Micro Seismic indicates 10 Middle wells…
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