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Q2 2015 INVESTOR UPDATE – Concho Resources, Inc.

Concho Resources, Inc. · Jul 30, 2015 · 18 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. Q2 2015 INVESTOR UPDATE – Concho Resources, Inc. – slide 1
    Quarterly Update 2Q15 JULY 30, 2015
  2. Q2 2015 INVESTOR UPDATE – Concho Resources, Inc. – slide 2
    Second Quarter 2015 Highlights Operational Financial Full-Year 2015 Outlook Record quarterly production of Strong operational performance Raised production growth target 147.4 MBoepd, up 37% year- accompanied by solid financial range…
  3. Q2 2015 INVESTOR UPDATE – Concho Resources, Inc. – slide 3
    Second Quarter 2015 Execution Total Production Growth Oil Production Growth Delaware Basin Growth Engine: Horizontal Production Growth 37% Growth 45% Growth 66% Growth Year-over-Year Year-over-Year Year-over-Year 147.4 81.6 99.2…
  4. Q2 2015 INVESTOR UPDATE – Concho Resources, Inc. – slide 4
    Continued Improvement in Cost Structure LOE & WORKOVER Cash Operating Expenses (/Boe) 10% Lower 17.81 Year-Over-Year 17.24 15.46 CASH G&A 14.20 13.99 16% Lower 4.05 3.77 Year-Over-Year 3.63 3.65 3.39 5.61 5.21 4.06…
  5. Q2 2015 INVESTOR UPDATE – Concho Resources, Inc. – slide 5
    Northern Delaware Basin ACREAGE POSITION 2Q15 Well Results 365,000 gross Added 52 HZ wells with 30 days production (255,000 net) acres data in 2Q15 (avg. lateral length 5,152) Avg. 30-day peak rate: 994 Boepd (71% oil) Avg. 24-hour…
  6. Q2 2015 INVESTOR UPDATE – Concho Resources, Inc. – slide 6
    The Oil-Rich Avalon Shale Brushy NORTHERN Canyon DELAWARE BASIN Upper Avalon Avalon 1st Bone EDDY LEA Spring Lower 2nd Bone Avalon Spring CULBERSON LOVING CXO ACREAGE 3rd Bone Spring Targeting multiple benches in the…
  7. Q2 2015 INVESTOR UPDATE – Concho Resources, Inc. – slide 7
    The Oil-Rich Avalon Shale Enhanced Completions Avalon Shale Enhanced Completions NORTHERN Well Performance DELAWARE BASIN Enhanced completion design unlocks oil-rich 140 Avalon shale Improves oil recovery 120 Improves capital…
  8. Q2 2015 INVESTOR UPDATE – Concho Resources, Inc. – slide 8
    Southern Delaware Basin ACREAGE POSITION WARD 2Q15 Well Results 275,000 gross Added 12 HZ wells with 30 days production data in 2Q15 (170,000 net) acres (avg. lateral length 6,302) Avg. 30-day peak rate: 1,163 Boepd (78% oil) Avg.…
  9. Q2 2015 INVESTOR UPDATE – Concho Resources, Inc. – slide 9
    Midland Basin HORIZONTAL CORE 2Q15 Well Results ACREAGE POSITION Added 21 HZ wells with 30 days production data in 200,000 gross 2Q15 (avg. lateral length 5,930) (110,000 net) acres ANDREWS MARTIN Avg. 30-day peak rate: 758 Boepd…
  10. Q2 2015 INVESTOR UPDATE – Concho Resources, Inc. – slide 10
    New Mexico Shelf CHAVES ACREAGE POSITION LEA 2Q15 Well Results 160,000 gross EDDY Added 17 HZ wells with 30 days production data in (110,000 net) acres 2Q15 (avg. lateral length 4,204) Avg. 30-day peak rate: 331 Boepd (83% oil)…
  11. Q2 2015 INVESTOR UPDATE – Concho Resources, Inc. – slide 11
    2015 Capital Program Rig Program Progression Capital Program Allocation FY15 OUTLOOK Avg. Quarterly Rig Count Total Capital: 1.8 BN to 2.0 BN UPDATE Raised Production 37 12% Growth Target to 21 Rigs 24% to 26% since 4Q14 12%…
  12. Q2 2015 INVESTOR UPDATE – Concho Resources, Inc. – slide 12
    Key Takeaways Well-positioned for Operational efficiencies driving faster cycle times through-cycle performance Enhanced completions improving well performance across portfolio Cost structure aligning with low commodity price…
  13. Q2 2015 INVESTOR UPDATE – Concho Resources, Inc. – slide 13
    Appendix
  14. Q2 2015 INVESTOR UPDATE – Concho Resources, Inc. – slide 14
    Inventory and Results NORTHERN Deep Inventory of Identified Horizontal Locations DELAWARE BASIN Well Avg. Peak Rate (Boepd) Identified Wells per Formation Count1 30-Day (% Oil) 24-Hour Locations2 Section Brushy Canyon 21 620 (81%)…
  15. Q2 2015 INVESTOR UPDATE – Concho Resources, Inc. – slide 15
    2015 Operational & Financial Outlook Production 3Q15 OUTLOOK Year-over-year growth 24% - 26% Production: Oil mix 64% - 66% 143 to 147 MBoepd Price realizations, excluding commodity derivatives (% of NYMEX) Crude oil (per Bbl) 90% -…
  16. Q2 2015 INVESTOR UPDATE – Concho Resources, Inc. – slide 16
    Hedge Position 2H15 OIL HEDGES 2015 Third Quarter Fourth Quarter Total 2016 2017 63.8 MBopd Oil Swaps: (a) 75% Production1 Volume (Bbl) 6,169,000 5,579,000 11,748,000 18,059,000 6,288,000 Price per Bbl 75.14 75.24 75.19 75.71 64.57…
  17. Q2 2015 INVESTOR UPDATE – Concho Resources, Inc. – slide 17
    Adjusted Net Income Reconciliation (Unaudited) Three Months Ended June 30, (in thousands, except per share amounts) 2015 2014 Net income (loss) - as reported (120,483) 11,769 Adjustments for certain non-cash and unusual items:…
  18. Q2 2015 INVESTOR UPDATE – Concho Resources, Inc. – slide 18
    EBITDAX Reconciliation (Unaudited) The Company defines EBITDAX as net income (loss), plus (1) exploration and abandonments expense, (2) depreciation, depletion and amortization expense, (3) accretion expense, (4) non-cash stock- based…

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