Parsley Energy Overview Market Snapshot 3Q15 Production Premier Acreage Position NYSE Symbol: PE 3Q15 Production: 21.6 MBoe/d Market Cap: 2,879 MM(1) 3Q15 Production Mix Net Debt: 434 MM(2) Oil: 58% Enterprise Value: 3,313 MM Natural…
Production Momentum Building Strong production trend, Production up month-by- 30 12 with Q3 up 41% Y/Y and month in Q3 on back- down just 3% Q/Q despite weighted completion lower Q2 activity schedule 25 10 8 20 Net Production (MBoe/d)…
High-grading Asset Base Since the beginning of 2Q15, netted over 10 MM in cash while A increasing the size and quality of drilling inventory NET LATERAL CASH LOCATIONS EXTENSIONS Divestitures (Tier I/Other): 50 MM (144) 0 Acquisitions…
Acre-For-Acre Trades Boost Inventory at No Cost EXAMPLE Before Trade After Trade 8 - 5,000 8 7,500 laterals + 4 5,000 laterals New Locations Existing Locations Extended Locations Operator 1 Operator 1 Operator 2 Operator 2…
Durable, High-quality Drilling Inventory High-grading Horizontal Drilling Inventory 97% of horizontal inventory located in Focus Area 80% High average working interest of 85% across horizontal drilling 76% inventory translates to…
Ongoing Cycle-Time Compression Cycle times trending lower with significant upside remaining based on 3Q15 progress and first pad and record single-well data points. Frac Stages per Day Spud to Total Depth Days per 1,000 Lateral(1) 9.0…
Promising Pad Results Point to Lower Times and Costs Char Hughes Lease First two pad wells shaved several days off drill times and Drilling & Completion Costs(1) approximately 2 million off completed well costs versus 8 single…
Efficiencies Translating to Lower Costs Completions Average Cost per Stage Pronounced downtrend in drilling costs and completion costs 80 70 Expect lower Q4 drilling and completion costs based 60 on intra-quarter progress in Q3 and…
Lower Costs Driving Higher Returns and NPV Drilling and completion costs down 25% from 4Q14 peak Drilling and Completion Costs(2) -25% Peer-leading Wolfcamp wells and improving costs and cycle times generate 50%+ returns at strip…
Wolfcamp Results Outpacing 1 MMBoe Type Curve 250 Peer-leading Wolfcamp A/B production tracking above 1 MMBoe EUR type curve Greater outperformance relative to type curve at end 3Q15 than at end 2Q15, indicating favorable decline rates…
Peer-leading Wolfcamp Wells Parsleys Wolfcamp A/B wells have the highest 30-day initial production (IP) rates and 180-day cumulative production among peers 160 200 140 175 180-Day Cumulative Production (MBoe) 120 150 30-Day Peak IP /…
Well-positioned in the Spraberry Shale North Midland County North Upton County Expect similar rock quality in central portion of the Midland Basin as in west side of the Basin Logs suggest the Lower Spraberry has similar source…
Unlocking Value in the Southern Delaware Appraising horizontal potential of 30,000 net acre Trees Ranch prospect in the Southern Delaware Basin Activity converging on Parsleys acreage, with notable operators running rigs in the…
2015 Guidance Summary 2015 Capital Program 2015 Production Guidance Drilling & Completion (MM) 285 - 325 +55% Y/Y Infrastructure & Facilities (MM) 40 - 50 Total Capital Expenditures (MM) 325 - 375 25 21.5-22.5 Gross Horizontal Wells…
Strong Balance Sheet to Fund Leading Production Growth 698 million of liquidity after giving effect to increased borrowing Liquidity Summary (MM) base First lien borrowing base availability 575 Borrowing base increased by 15% from…
Substantial Hedge Position Protects Cash Flows Recently added to hedge position, increasing 2015 2016 2017 coverage in 2016 and 2017 4Q15 1Q16 2Q16 3Q16 4Q16 1Q17 2Q17 3Q17 4Q17 Put Spreads (MBbls/d)(2) 12.4 17.5 18.8 21.8 23.5 9.7…
Investment Highlights Premier Midland Basin acreage, with favorable combination of depth, thickness, and thermal maturity Superior Well Peer-leading Wolfcamp A/B results outpacing 1 MMBoe EUR type curve; 30-day IP rates and 180-day…
Investment Highlights APPENDIX 20
Q3 2015 Selected Operating Data For the Three Months Ended September 30, June 30, September 30, 2015 2015 2014 Net production volumes: Oil (MBbls) 1,153 1,183 733 Natural gas (MMcf) 2,628 2,698 2,062 NGLs (MBbls) 393 392 333…
Q3 2015 Adjusted Net Income(1) Three Months Ended Nine Months Ended September 30, 2015 September 30, 2015 Net income (loss) attributable to Parsley Energy, Inc. stockholders 909 (35,244) Derivative gain (34,290) (23,699) Net…
Q3 2015 Adjusted EBITDAX For the Three Months Ended For the Nine Months Ended September 30, September 30, 2015 2014 2015 2014 Adjusted EBITDAX reconciliation to net income: Net income attributable to Parsley Energy, Inc.…
Growing Reserves Reserve summary, as of 12/31/14, prepared by NSAI Drill-bit F&D of 19.68/Boe(1) Reserves up 66% Y/Y PDP up 126% Y/Y Reserves reflect voluntary removal of 14 MMBoe of reserves associated with potential vertical well…
Loading...
