Barclays CEO Energy-Power Conference September 9, 2015
RSP Permian Overview (NYSE: RSPP) Large, contiguous, core acreage blocks in the Midland Concentrated Acreage Position in the Core of the Midland Basin Basin 215,000 net effective horizontal acres (1) and 57,000 net surface acres…
Recent 2015 Highlights Q2 2015 production averaged 19.9 MBoe/d (76% Oil, 14% NGLs, 10% Natural Gas) Increase of 86% compared to Q2 2014 Increase of 25% compared to Q1 2015 Quarterly production exit rate of 24 MBoe/d Acquired…
Recent Acquisitions Complement Core Acreage Acquired 5,700 net acres in the Midland Basin Map of Acquired Acreage for 274 million 1.6 MBoe/d of existing production Martin 3,897 162 net horizontal locations in five zones with…
Track Record of Production Growth In August 2015, RSP increased production guidance to 19.5 20.0 MBoe/d Increased oil production mix to 75%, resulting in a 14% increase to implied oil volumes at the midpoint Strong Total Production…
Low Costs and High Oil Mix Generate Strong Cash Margins E&P Universe 2015 Estimated Oil Mix as a Percent of Total Production (1) 100% U.S. E&P Company RSPP 75% Permian Peer (2) 50% Median: 47% 25% H A B D RSPP…
... And Strong Margins Plus Well Performance Lead to Capital Efficiency Best-in-class in the Permian and the broader E&P universe in both efficient production growth and cash returns E&P Universe Q2 2014 Q2 2015 Production Growth per…
Permian Leader in Efficiencies 2014 Finding & Development Costs (per Boe) Strong production and reserve growth with low corporate overhead 25.00 23.28 20.00 18.21 Peer-leading F&D costs and reserve 13.88 15.00 replacement 10.59…
RSP is in a Strong Financial Position Pro Forma Capitalization Table (1) Selective use of capital markets to 6/30/2015 maintain strong balance sheet and ( in millions) Pro Forma liquidity Cash 158 Recently closed 182 million equity…
Achieving Significant Cost Savings Significant cost savings since late 2014, both due to service cost concessions and increased efficiencies Target 6.2 - 6.4 million drill and complete costs for a 7,500 well Includes early flowback…
Wolfcamp A/B Overview Map of Wolfcamp A Wells Drilled Performance of Wolfcamp A wells to date is 1017 as strong as any zone in RSPs inventory 1019 1719 1717 RSP now has 11 Wolfcamp A wells with 1017 production history Cross Bar…
Wolfcamp A/B Wells Continue to Improve During 2014, RSP improved its completion methodology and began to drill wells farther east on the acreage position, where the vast majority of inventory is located Wolfcamp A/B Type Curve and…
Upper Wolfcamp Full Development Test 1021 WA 1017 (WD) WA At Johnson Ranch, RSP has completed 10 Wolfcamp A / 1019 WA 1017 (WB) WA N Wolfcamp B wells across a mile on a 960-acre tract Average production for the 10 wells is trending…
Lower Spraberry Overview Lower Spraberry remains the top performing Map of Recent Lower Spraberry Activity zone in RSPs inventory 1717 The majority of RSPs activity continues to 1719 target the Lower Spraberry 1717 Multiple…
Lower Spraberry Performance Remains Strong Well performance generates meaningful single-well returns in challenging commodity price environments Lower Spraberry Type Curve and Operated Well Production in Core Counties since Mid-2014…
Middle Spraberry Overview Map of Producing Middle Spraberry Wells Middle Spraberry results continue to improve Johnson Ranch Six recent wells completed on the eastern 912 portion of the acreage outperforming Lower Cross Bar Ranch…
Middle Spraberry Results Reflect Upside Results in core areas are vastly outperforming type curves and reflect a zone with strong potential Economics of Middle Spraberry wells in core areas compare favorably with Upper Wolfcamp Middle…
LS Glasscock County Update 2015 Drilling Program Testing Multiple Horizons DEAN WC A 520 WC B Spud Calverley 9-4 1H 544 (WA) Late Q2 LS DEAN WC A 655 U WC B RSP Acreage L WC B 2015 Acquisitions…
RSP Permian Positioned for Growth Concentrated asset base in the core of Northern Midland Basin Multiple quality reservoirs High Quality Assets Lowest F&D cost in the Basin Multi-well pad development drives efficiency 25 years of…
Appendix 22
Adjusted EBITDAX and Adjusted Net Income Reconciliation Adjusted EBITDAX and Adjusted Net Income Reconciliation ( in thousands, except per unit amounts) Quarter Ended June 30, Six Months Ended June 30, 2015 2014 2015 2014 Revenues…
Hedging Program Summary RSP has hedged 35% of its remaining 2015 oil production at a floor price of 86 RSP has begun to layer on hedges for 2016 and will continue to opportunistically add hedges Oil Hedge Summary Q3 2015 Q4 2015 2015…
2015 Guidance Production Capital Program Overview (MM) 21,000 20,000 Drilling & Completion 380 - 420 17,000 19,500 Boe/d Infrastructure & Other 20 - 30 13,000 Total Capital Budget 400 - 450 9,000 11,868 (15% Non-Operated)…
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…
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…
Loading...
