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April 2016 Corporate Presentation – Parsley Energy Inc.

Parsley Energy Inc. · Apr 11, 2016 · 20 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.

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  1. April 2016 Corporate Presentation – Parsley Energy Inc. – slide 1
    INVESTOR PRESENTATION April 2016
  2. April 2016 Corporate Presentation – Parsley Energy Inc. – slide 2
    Parsley Energy Investment Summary Market Snapshot 4Q15 Production Premier Acreage Position(6) NYSE Symbol: PE 4Q15 Production: 25.2 MBoe/d Market Cap: 4,307 MM(1) 4Q15 Production Mix Net Debt: 281 MM(2) Oil: 63% Enterprise Value: 4,588…
  3. April 2016 Corporate Presentation – Parsley Energy Inc. – slide 3
    Adding Scale in Core Areas Announced the addition of approximately 23,000 net acres on 4/4/2016, which increases Parsleys net acreage by 20% 14,197 net acres in the Delaware Basin 8,711 net acres in the Midland Basin 359 million…
  4. April 2016 Corporate Presentation – Parsley Energy Inc. – slide 4
    Building Critical Mass in the Southern Delaware Walking O C3-28-3H (Anadarko) Peak 24-hr IP: 1,353 Boe/d Lateral Length: 4,225 Acquiring 14,197 net acres for approximately 144 Miami Beach 34-123-1H (Cimarex) Peak 24-hr IP: 1,692…
  5. April 2016 Corporate Presentation – Parsley Energy Inc. – slide 5
    Extending Running Room in the Midland Basin King D 4907H (Pioneer) Shackelton 31-5HM (Apache) Peak 24-hr IP: 1,898 Boe/d Peak 24-hr IP: 1,037 Boe/d Lateral Length: 9,839 Lateral Length: 4,394 Woody 4-2H (RSP Permian) Calverley 1H…
  6. April 2016 Corporate Presentation – Parsley Energy Inc. – slide 6
    Ongoing Production Momentum 55% Y/Y production Oil volumes up 69% Y/Y oil growth in growth in 2015 27% Q/Q 2016 at the midpoint 35 25 28 20 +27% Net Oil Production (MBo/d) Net Production (MBoe/d) 21 15 14…
  7. April 2016 Corporate Presentation – Parsley Energy Inc. – slide 7
    Consistently Strong Wolfcamp Results Peer-leading Wolfcamp A and B wells tracking above 1 MMBoe Peer-leading Wolfcamp Wells(2) EUR type curve 160 200 30-Day Peak IP/1,000 Stim. 180-Day Cum Prod (MBoe) 225 120 150…
  8. April 2016 Corporate Presentation – Parsley Energy Inc. – slide 8
    4Q15 Production Highlights Wolfcamp wells continued to set company records in 4Q15 Robbie 17-8-4403H Completed Formation: Wolfcamp B Peak 30-day IP: 1,133 Boe/d Lateral Length: 4,358 Record 30-day IP per 1,000 of 260 Boe/d…
  9. April 2016 Corporate Presentation – Parsley Energy Inc. – slide 9
    Pads Driving Lower Costs Transition to pads amplifying downtrend in drilling Completion Cost per Stage costs and completion costs 70 70% Approximately 75% of 2016 wells will be two-well or 60 60% Avg. Cost per Stage (M)…
  10. April 2016 Corporate Presentation – Parsley Energy Inc. – slide 10
    Resilient Returns Drilling and completion cost reductions support healthy Drilling and Completion Costs (MM)(2) returns despite depressed commodity prices -31% Wolfcamp A/B type curve implied returns exceed 40% at strip prices(1),…
  11. April 2016 Corporate Presentation – Parsley Energy Inc. – slide 11
    Outstanding Initial Well Results in the S. Delaware Basin Cilantro 2524-C3-1H Trees State 16-1H Parsley confirmed oil Operator: Jagged Peak Operator: Parsley Energy producing zones Peak 24-hour IP: 2,175 Boe/d Peak 24-hour IP: 1,558…
  12. April 2016 Corporate Presentation – Parsley Energy Inc. – slide 12
    Durable, High-quality Drilling Inventory High average working interest of Horizontal Inventory Growth Horizontal High-grading Inventory Horizontal Quality Drilling Inventory 83% across horizontal drilling inventory +36% YE14 YE15…
  13. April 2016 Corporate Presentation – Parsley Energy Inc. – slide 13
    Updated 2016 Capital Program Overview Gross Horizontal Completions Capital Expenditures (MM) Completions up 46% Y/Y at the midpoint Capex up only 8% Y/Y at the midpoint despite increased activity 80 500 60 375 40 250 410-460 65-75…
  14. April 2016 Corporate Presentation – Parsley Energy Inc. – slide 14
    Updated 2016 Capital Program Detail Acquired production and incremental completions expected to contribute 1,500 Boe/d to expected 2016 average production Projected capital expenditures increase by 30 MM to accommodate additional…
  15. April 2016 Corporate Presentation – Parsley Energy Inc. – slide 15
    Favorable Unit Cost Trends Lease Operating Expense (/Boe) Cash G&A (/Boe) 10 10 9 9 7.83 8 8 5.50- 7 7 6.50 4.75- 5.87 5.75 6 6 5 5 4 4 3 3 2 2 1 1 0 0 1Q15 1Q15 2Q15 2Q15 3Q15 3Q15 4Q15 4Q15 FY15 FY15 FY16E…
  16. April 2016 Corporate Presentation – Parsley Energy Inc. – slide 16
    Strong Balance Sheet Liquidity Summary (MM) 844 million of liquidity First lien borrowing base availability 575 Favorable maturity schedule, with 7.5% senior notes due Cash on hand 269 in 2022 Total liquidity 844 In April 2016,…
  17. April 2016 Corporate Presentation – Parsley Energy Inc. – slide 17
    Substantial Hedge Position 2016 2017 Close to 100% of 2016 oil volumes hedged at 1Q16 2Q16 3Q16 4Q16 1Q17 2Q17 3Q17 4Q17 midpoint of production guidance range, with Put Spreads (MBbls/d)(1) 20.2 18.8 21.8 23.5 20.5 20.2 2.4 2.4…
  18. April 2016 Corporate Presentation – Parsley Energy Inc. – slide 18
    Strong Reserve Growth Reserve summary, as of 12/31/15, prepared by Netherland, Sewell & Associates, Inc. Proved reserves up 36% Y/Y despite a 49% decrease in SEC oil prices Oil (MMBbls) Nat Gas (Bcf) NGL (MMBbls) Total (MMBoe) PDP…
  19. April 2016 Corporate Presentation – Parsley Energy Inc. – slide 19
    Value-adding Infrastructure Expansion Reduced Transport Costs 100% 2.50 75% 80% 2.00 60% 1.50 45% 44% 40% 1.00 19% 20% 0.50 Gathering System in Place 0% 0% 0.00 1Q2015 1Q15 2Q2015 2Q15 3Q2015 3Q15 4Q2015 4Q15 2H2016…
  20. April 2016 Corporate Presentation – Parsley Energy Inc. – slide 20
    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…

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