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MAY 2015 INVESTOR PRESENTATION – Pioneer Natural Resources Co.

Pioneer Natural Resources Co. · May 4, 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. MAY 2015 INVESTOR PRESENTATION – Pioneer Natural Resources Co. – slide 1
    Pioneer Proprietary Investor Presentation May 2015
  2. MAY 2015 INVESTOR PRESENTATION – Pioneer Natural Resources Co. – slide 2
    2015E Capital Spending and Cash Flow1 Capital program of 1.85 B (excludes potential rig adds in 2H) Drilling Capital: 1.6 B 1,050 MM northern Spraberry/Wolfcamp (65% of total) o 735 MM for horizontal drilling program Sensitivity to…
  3. MAY 2015 INVESTOR PRESENTATION – Pioneer Natural Resources Co. – slide 3
    Northern Wolfcamp Horizontal Production Data1 Wolfcamp A Average production from all Wolfcamp A and B Wolfcamp A wells (25) avg. lateral: 8,600 feet interval wells drilled since early 2013 in northern 280 Spraberry/Wolfcamp tracking…
  4. MAY 2015 INVESTOR PRESENTATION – Pioneer Natural Resources Co. – slide 4
    Northern Spraberry/Wolfcamp: High-Grading Drilling Activity in 2015 Reduced horizontal rig count to 6 rigs by the end Pioneers Northern Spraberry/Wolfcamp of February 2015 Drilling Areas High-grading drilling activity to areas and…
  5. MAY 2015 INVESTOR PRESENTATION – Pioneer Natural Resources Co. – slide 5
    Southern Wolfcamp JV: High-Grading Drilling Activity in 2015 Reduced horizontal rig count to 4 rigs by the end of February Pioneers Southern Wolfcamp JV Area 2015 Drilling Areas High-grading drilling activity to areas and intervals…
  6. MAY 2015 INVESTOR PRESENTATION – Pioneer Natural Resources Co. – slide 6
    Forecasting 2015 Production Growth of 20%+ in Spraberry/Wolfcamp Spraberry/Wolfcamp Net Production (MBOEPD)1 119+ MBOEPD 46 horizontal wells placed on production in Q1 Prepared to add 2 rigs per month 15 in northern acreage and 31…
  7. MAY 2015 INVESTOR PRESENTATION – Pioneer Natural Resources Co. – slide 7
    Spraberry/Wolfcamp Infrastructure Development 2015 capital program includes 410 MM for Spraberry/Wolfcamp infrastructure Drilling capital oTank batteries/saltwater disposal facilities to support high-graded drilling program: 215 MM…
  8. MAY 2015 INVESTOR PRESENTATION – Pioneer Natural Resources Co. – slide 8
    Updated Spraberry/Wolfcamp Horizontal POP Forecast Updated Spraberry/Wolfcamp 89 Horizontal POP Count Forecast Pioneer Pumping Services will have spare capacity to complete additional wells if rigs are added in 2H 66 65 50…
  9. MAY 2015 INVESTOR PRESENTATION – Pioneer Natural Resources Co. – slide 9
    Pioneers Year-End 2014 Proved Reserves1 Added 177 MMBOE from the drillbit, or 239% of full- year production, at a drillbit F&D cost of 19.65 per BOE2 Reflects significant drilling campaigns in horizontal Spraberry/Wolfcamp Shale and…
  10. MAY 2015 INVESTOR PRESENTATION – Pioneer Natural Resources Co. – slide 10
    Geologic Provinces of the Permian Basin PEDERNAL UPLIFT & ROOSEVELT POSITIVE OZONA PLATFORM Basin DEVILS Basement RIVER Uplift UPLIFT Shelf Thrust Belt Permian Basin is composed of multiple uplifts and basins that…
  11. MAY 2015 INVESTOR PRESENTATION – Pioneer Natural Resources Co. – slide 11
    Wolfcamp Depositional Model Midland Basin Platform Platform Carbonate Land Carbonate Shelf Edge Carbonate Pelagic Sediments Clastic Detrital Slope Sediments & Reef Talus Fluvial - Deltaic Silt Cloud in Suspension Midland…
  12. MAY 2015 INVESTOR PRESENTATION – Pioneer Natural Resources Co. – slide 12
    Regional Cross Section D-D 13 horizontal play intervals identified (so far) Successful Horizontal Wells in the Play 10 intervals have been tested successfully Future Horizontal Play 3 additional intervals remain to be tested North…
  13. MAY 2015 INVESTOR PRESENTATION – Pioneer Natural Resources Co. – slide 13
    Midland Basin: Stacked Play Potential Midland Basin Delta log R (excess electrical resistance) Clear Fork Red intervals indicate hydrocarbons Petrophysical analysis indicates significantly more oil in place U. Spraberry M.…
  14. MAY 2015 INVESTOR PRESENTATION – Pioneer Natural Resources Co. – slide 14
    Midland Basin Horizontal Resource Potential 75 BBOE Recoverable Resource Potential Spraberry Wolfcamp D Shales 13 BBOE 14 BBOE Wolfcamp C 2 BBOE Wolfcamp A Wolfcamp B 19 BBOE 27 BBOE 75 BBOE recoverable resource…
  15. MAY 2015 INVESTOR PRESENTATION – Pioneer Natural Resources Co. – slide 15
    Spraberry/Wolfcamp Rig Count Counties: Andrews, Borden, Crockett, Dawson, Ector, Gaines, Glasscock, Howard, Irion, Martin, Midland, Mitchell, Reagan, Schleicher, Scurry, Sterling, Tom Green and Upton 33% Vertical Rigs (dropped 150…
  16. MAY 2015 INVESTOR PRESENTATION – Pioneer Natural Resources Co. – slide 16
    Production Growth Profiles For 3 Largest U.S. Oil Shale Plays Includes Horizontal Wells Only Eagle Ford 107 Horizontal Rigs (down from max of 203 rigs in 2014) Bakken 80 Horizontal Rigs (down from max of 179 rigs in 2014)…
  17. MAY 2015 INVESTOR PRESENTATION – Pioneer Natural Resources Co. – slide 17
    Spraberry/Wolfcamp Production History Includes Vertical and Horizontal Wells Spraberry/Wolfcamp production has increased 630,000 BOEPD since 2009 From 2009 to 2012, production growth primarily attributable to increased…
  18. MAY 2015 INVESTOR PRESENTATION – Pioneer Natural Resources Co. – slide 18
    Drilling Results Confirming Pioneers Midland Basin Sweet Spot PXD Wolfcamp B Prospectivity Map (Early 2013) 2014 ITG Research Report Wolfcamp (All Zones) Test Rates Higher Tier 1 Tier 2 Pioneer Land Pioneer Wolfcamp B wells…
  19. MAY 2015 INVESTOR PRESENTATION – Pioneer Natural Resources Co. – slide 19
    Crude Pipeline Capacity to Gulf Coast Permian Basin Crude Takeaway Capacity Cushing Operator Origin Destination Name Capacity Time Frame Plains Permian Cushing Basin 450,000 Oxy Permian Cushing Centurion 75,000 Sunoco Permian GC…
  20. MAY 2015 INVESTOR PRESENTATION – Pioneer Natural Resources Co. – slide 20
    Spraberry/Wolfcamp Midstream Infrastructure Gas Processing Pipeline NGL Takeaway Targa System to Mont Belvieu PXD has 27% interest Chaparral & West Texas Current capacity: 655 MMCFD1 Pipelines o Includes new Edward plant Sale Ranch…

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