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1Q 2016 Investor Presentation – Parsley Energy Inc.

Parsley Energy Inc. · May 4, 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.

Slides

  1. 1Q 2016 Investor Presentation – Parsley Energy Inc. – slide 1
    INVESTOR PRESENTATION 1Q 2016
  2. 1Q 2016 Investor Presentation – Parsley Energy Inc. – slide 2
    Parsley Energy Investment Summary Market Snapshot 1Q16 Production Premier Acreage Position(6) NYSE Symbol: PE 1Q16 Production: 29.1 MBoe/d Market Cap: 4,260 MM(1) 1Q16 Production Mix Net Debt: 386 MM(2) Oil: 65% Enterprise Value: 4,646…
  3. 1Q 2016 Investor Presentation – Parsley Energy Inc. – slide 3
    Ongoing Production Momentum 31.5 34.5 14 35 29.1 12 30 25.2 10 25 22.2 21.6 Net Production (MBoe/d) 18.9 Rig Count 8 20 18.2 15.3 6 14.0 15 9.2 4 10 2 5 0 0 1Q14 2Q14 3Q14 4Q14 1Q15 2Q15 3Q15…
  4. 1Q 2016 Investor 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 Announced in April the acquisition of 14,197 net Miami Beach 34-123-1H (Cimarex) Peak 24-hr IP: 1,692…
  5. 1Q 2016 Investor 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. 1Q 2016 Investor Presentation – Parsley Energy Inc. – slide 6
    Consistently Strong Wolfcamp Results Peer-leading Wolfcamp A and B wells tracking above 1 MMBoe Peer-leading Wolfcamp Wells(2) EUR type curve 140 225 180-Day Cum Prod (MBoe) 120 100 200 80 60 175 40 20 Cumulative…
  7. 1Q 2016 Investor Presentation – Parsley Energy Inc. – slide 7
    Robust Returns Drilling and Completion Costs (MM)(2) Favorable combination of rising oil prices and falling costs makes for compelling returns 7.0 6.5 Wolfcamp A/B type curve implied returns close 6.0 5.5 5.2 to 60% at strip…
  8. 1Q 2016 Investor Presentation – Parsley Energy Inc. – slide 8
    Pads Projects Enhance Returns Majority of 2016 wells will be two-well or three-well Estimated Project Economics - 3-Well Pad vs. 3 Single Wells(1) pads +12% +6 Increase in Project Rate of Return Transition to pads has…
  9. 1Q 2016 Investor Presentation – Parsley Energy Inc. – slide 9
    Outstanding Initial Well Results in the S. Delaware Basin Cilantro 2524-C3-1H Trees State 16-1H Strong production trend for Parsley operated and JV horizontal Operator: Jagged Peak Operator: Parsley Energy wells in the S. Delaware,…
  10. 1Q 2016 Investor Presentation – Parsley Energy Inc. – slide 10
    Abundant Southern Delaware Basin Resource Potential 24 miles A A Thick, geopressured Wolfcamp APRIL 2016 ACQUISITION RISKED TREES RANCH interval across S. Delaware ACREAGE ACREAGE acreage 2,400 Oil production throughout…
  11. 1Q 2016 Investor Presentation – Parsley Energy Inc. – slide 11
    Favorable LOE Trend Lease Operating Expense (/Boe) LOE per Boe down several consecutive quarters 9.63 9.12 Down to 10% of produced water truck-hauled in 7.63 1Q16, reducing disposal costs considerably 5.57 Weatherization and…
  12. 1Q 2016 Investor Presentation – Parsley Energy Inc. – slide 12
    Strong Financial Profile 738 MM of liquidity Liquidity Summary (MM) First lien borrowing base availability 575 Fully undrawn borrowing base maintained at 575 Cash on hand 164 MM Total liquidity 738 Favorable maturity schedule, with…
  13. 1Q 2016 Investor Presentation – Parsley Energy Inc. – slide 13
    Substantial Hedge Position 2016 2017 Close to 100% of 2016 oil volumes hedged at 2Q16 3Q16 4Q16 1Q17 2Q17 3Q17 4Q17 midpoint of production guidance range, with Put Spreads (MBbls/d)(1) 18.8 21.8 23.5 20.5 20.2 6.3 6.3 meaningful…
  14. 1Q 2016 Investor Presentation – Parsley Energy Inc. – slide 14
    2016 Capital Program Existing production and incremental completions associated with acquisitions announced in April 2016 expected to contribute 1,500 Boe/d to full-year 2016 production Projected capital expenditures increased by 30…
  15. 1Q 2016 Investor Presentation – Parsley Energy Inc. – slide 15
    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…
  16. 1Q 2016 Investor Presentation – Parsley Energy Inc. – slide 16
    Selected Operating Data Parsley Energy, Inc. Selected Operating Data (Unaudited) Three months ended March 31, March 31, 2016 2015 Net production volumes: Oil (MBbls) 1,731 1,009 Natural gas (MMcf) 2,944 2,302 NGLs (MBbls) 425…
  17. 1Q 2016 Investor Presentation – Parsley Energy Inc. – slide 17
    Adjusted Net Income Parsley Energy, Inc. Adjusted Net Loss and Net Loss Per Share (Unaudited, in thousands, except per share data) Three months ended March 31, 2016 March 31, 2015 Net loss attributable to Parsley Energy, Inc.…
  18. 1Q 2016 Investor Presentation – Parsley Energy Inc. – slide 18
    Adjusted EBITDAX Parsley Energy, Inc. Adjusted EBITDAX (Unaudited, in thousands) Three months ended March 31, 2016 2015 Adjusted EBITDAX reconciliation to net income: Net loss attributable to Parsley Energy, Inc. stockholders…
  19. 1Q 2016 Investor Presentation – Parsley Energy Inc. – slide 19
    Durable, High-quality Drilling Inventory High average working interest of Horizontal Inventory Growth Midland Basin Horizontal 80% across horizontal drilling Inventory Distribution Delaware Basin Estimated Midland Basin inventory…
  20. 1Q 2016 Investor Presentation – Parsley Energy Inc. – slide 20
    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…

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