Concho Enhances Southern Delaware Basin Position Active Portfolio Management JANUARY 18, 2016
Transaction Highlights Active Portfolio Management through Acreage Acquisition, Exchange and Divestiture Expanding North Harpoon prospect Acquiring 12,000 net acres Current production: 3.6 MBoepd Acreage Divestiture Proved reserves1:…
Strategic Impact Opportunistic and Disciplined Portfolio Management Consolidating Premier oil resource play with significant exposure to improving operational High-Quality Southern efficiencies Delaware Acreage Potential for resource…
Enhancing Core Southern Delaware Position Pre-Transactions Post-Transactions North Harpoon Acquisition Adds 12,000 net acres of core WARD WARD leasehold North Harpoon North Harpoon Privately negotiated transaction Consolidator of…
North Harpoon Wolfcamp Delivering Industry-Leading Results as Development Program Grows Strong, Repeatable Well Results WARD North Harpoon North Harpoon Wolfcamp Avg. 30-Day Peak Avg. 24-Hour Peak Rate (Boepd) Rate (Boepd)…
North Harpoon Wolfcamp Optimizing Development with Long-Lateral Wells 1.5-Mile Lateral vs. 1-Mile Lateral North Harpoon Wolfcamp Return Profile Current Well Cost ROR Lateral Type (MM) (40/2.50) 1.5-Mile Lateral 7.9 - 8.4 40% - 45%…
Reinforcing Financial Position STRONG FINANCIAL Unaudited Pro Forma Balance Sheet (as of 9/30/2015) POSITION Adjustments Transactions reduce Actual Pro Forma October 2015 North Harpoon Loving County leverage metrics & 9/30/2015 1 2…