RSP Permian Overview (NYSE: RSPP) Large, contiguous, core acreage blocks in the Concentrated Acreage Position in the Core of the Midland Basin Midland Basin 280,000 net effective horizontal acres (1) and 64,000 net surface acres (96%…
Recent Company Highlights Strong financial and operational performance in 2015 Grew production by 77% and proved reserves by 50% over 2014 Spent 20 million less capital than the midpoint of the revised capital budget of 400 - 420…
Footprint & Inventory Growth Since IPO Since the IPO in January 2014, RSP has more than doubled acreage and horizontal inventory in its Focus Area Increase in Focus Area Net Locations Focus Area Acquisitions Since IPO 1,750 1,500…
Continuing to Drive Down Costs Production growth, efficiency gains and cost improvements driving meaningful reduction in per unit costs Drill bit F&D Costs All-in F&D Costs 20.00 18.21 25.00 23.28 20.00 15.00 10.59 15.00 13.88…
Track Record of Production and Proved Reserve Growth RSP had a strong year of growth, increasing production by 77% and growing proved reserves by 50% RSP has roughly tripled production and proved reserves in the last two years Annual…
Peer Leading Reserve Replacement Ratio and F&D Costs Drill-bit success and capital efficiency driving reserve Reserve Replacement and F&D Costs growth 2014 2015 Proved Developed and Proved Undeveloped Reserves Drillbit F&D ( / Boe)…
Continuing Bolt-on Acreage Acquisitions in Core Areas Subsequent to the third quarter of 2015, RSP Map of Recent Acquisitions acquired 29 million of bolt-on interests in properties we acquired during 2015 (1) 1,250 net acres 115…
Q4 and Full Year 2015 Financial Results 4Q production averaged 24.3 MBoe/d (75% oil, 13% NGL, 12% Natural Gas) 4Q15 & 2015 Increase of 50% compared to 4Q14 Financial 1.4 MBoe/d offline due to Crossbar Ranch fire and winter weather…
Low Cost Structure and Strong Margins Six straight quarters of declining cash costs and high oil mix allow us to maintain healthy cash margins in a challenging environment Historical Cash Margins and Costs (per Boe) Realized Oil…
RSP Permian 2016 Guidance Production Capital Program Overview ( in millions) 2015 2016E 28,000 27,000 Drilling & Completion 354 185 - 235 23,000 Boe/d 23,000 Infrastructure & Other 37 15 - 25 18,000 21,047 Total Capital 391…
Ability to Self-Fund Drilling & Completion Through 2017 RSP currently has over 100 million in cash and an undrawn 600 million revolving credit facility Despite a challenging commodity price environment, RSP can keep 2017 production…
RSP is in a Strong Liquidity Position Selective use of capital markets to maintain strong Pro forma Capitalization Table (1) balance sheet and liquidity 12/31/2015 Equity and debt offerings during 2015: ( in millions) Pro forma 148…
Continuously Improving Drilling Efficiencies Drilling costs have declined by over 50% per foot since 2014, a substantial portion of which is due to increased efficiencies Drilling Cost Reductions (2014 to 2015) Feet drilled per Day…
Well Costs Continue to Decline Lower D&C Target Both drilling and completion costs on a per lateral foot basis have declined for six straight quarters 2016 AFE well costs of 5.5 million for a 7,500 lateral have already been achieved…
Well Results Continue to Improve RSPs operated horizontal well results continue to Increasing IP Rates and Average Lateral Lengths improve 1,200 8,500 Completing more wells in areas with better 1,000 8,000 geology and more…
2016 Operational Focus 2016 Planned Operated Horizontal Completions Dropped to 2 operated horizontal rigs in February ANDREWS CO 20% Continue cost reduction program MARTIN CO ECTOR CO Continue increased spacing density…
Western Glasscock County Update Initial Glasscock Results Similar to Spanish Trail Glasscock Well Results to Date MIDLAND CO GLASSCOCK CO Lat IP30 % IP 30 per 60 day cum Well Name Formation Length (Boe/d) Oil 1,000' (Mboe) Woody…
Early Production Results Demonstrate Prolific Glasscock Potential Results from the Wolfcamp A and Wolfcamp B have significantly outperformed the type curves utilized at the time of the Glasscock acquisition in 2014 as well as RSPs best…
Spanish Trail Extended Reach Laterals RSP is currently developing the Companys longest laterals drilled to date on the Spanish Trail lease (11,000) Two Wolfcamp B wells and two Wolfcamp A wells on production with strong results…
Eagle Ford Comparison to RSPs Midland Basin Acreage Eagle Ford development originally targeted the lower unit (150 RSP Well Density Optimization (Current Targets) thick) and is now expanding into the upper unit (150) Initial Development…
Early Spacing Test Results are Encouraging In the Wolfcamp A & Wolfcamp B, RSP has several data points verifying the current spacing of 1,000 on the core type curve RSP will continue to test higher densities in the Wolfcamp In the…
Significant Upside to Focus Area Inventory from Further Downspacing RSP believes spacing tests may show significant Spacing Assumptions (Wells per 1-Mile Section) upside to current spacing assumptions Current Spacing Increased Density…
Adjusted EBITDAX and Adjusted Net Income Reconciliation Quarter Ended December 31, 12 Months Ended December 31, ( in thousands, except per unit amounts) 2015 2014 2015 2014 Revenues Oil sales 67,318 71,646 263,286 257,830 Natural…
Extensive Multi-Year Drilling Inventory with Strong Rates of Return Gross Focus Area Horizontal Inventory Net Focus Area Horizontal Inventory 4,500 4,328 Net…
Wolfcamp A & B Overview Single Well Economics Wolfcamp A (1) Performance of Wolfcamp A wells to date is as strong as any zone in RSPs inventory 150% 100% of WA Inventory on this type curve RSP now has 16 Wolfcamp A wells with…
Lower & Middle Spraberry Overview Lower Spraberry remains the top performing Single Well Economics Lower Spraberry (1) zone in RSPs inventory, but Middle Spraberry 150% economics also reflect robust potential 85% of LS Inventory on…
Lower Spraberry and Middle Spraberry Type Curves Spraberry Type Curve and Operated Wells in Core Counties since Mid-2014 (Normalized to 7,500) 200 16 Lower Spraberry wells 150 Cumulative MBoe 100 6 Middle Spraberry wells…
Wolfcamp A and Wolfcamp B Type Curves Wolfcamp A/B Type Curves and Operated Wells in Core Counties since Mid-2014 (Normalized to 7,500) 200 16 Wolfcamp A wells 150 Cumulative MBoe 100 17 Wolfcamp B wells 50 EURs: 75%…
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