Parsley Energy Investment Summary Market Snapshot 1Q16 Production Premier Acreage Position(7) NYSE Symbol: PE 1Q16 Production: 29.1 MBoe/d Market Cap: 5,045 MM(1) 1Q16 Production Mix Net Debt: 454 MM(2) Oil: 65% Enterprise Value: 5,499…
S. Delaware Acquisition Overview On May 23, announced acquisition of mineral rights under approximately 30,000 acres in the Delaware Basin for 280.5 million Average royalty interest of 17.5% Acquiring additional working interest…
S. Delaware Acquisition Detail Minerals Acquisition Acquiring mineral rights in 29,813 acres in the S. Delaware Basin for 280.5 million Average NRI increases from 75% to 92.5% on affected acreage Mineral rights increase NRI on 186…
Economic Uplift on S. Delaware Mineral Acreage Strong production trend for Parsley operated and JV Wolfcamp Increased revenue with no incremental capital expenditures or horizontal wells, tracking above NSAI assigned type curve…
Abundant S. 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 Wolfcamp…
Consistently Strong Midland Basin 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…
Robust Midland Basin 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…
Pad 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 amplified…
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…
Strong Financial Profile 821 MM of liquidity Liquidity Summary (MM) First lien borrowing base availability 525 Fully undrawn borrowing base maintained at 575 MM Cash on hand 296 at spring redetermination; to be reduced to 525 MM…
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; adding to Put Spreads (MBbls/d)(1) 18.8 21.8 23.5 20.5 20.2 9.6 9.6…
2016 Capital Program Favorable production mix trend expected to continue in 2016 Expect strong capital efficiency on leading production growth Production Previous Updated 4/4/2016 Oil as % of Total Production Production (MBoe/d) 30…
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…
Durable, High-quality Drilling Inventory Ample running room with more Horizontal Inventory Growth Midland Basin Horizontal than 1,100 Midland Basin Wolfcamp Inventory Distribution A and Wolfcamp B drilling locations Delaware Basin…
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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