Concho Resources Premier Permian Basin Assets Strategic acreage position in the Permian Basin New Mexico Shelf 1 million gross (650,000 net) acres Core areas in the Delaware Basin, Midland Basin and New Mexico Shelf High-quality,…
First Quarter 2016 Highlights Delivering on Near-Term Objectives, Focusing on Long-Term Value Creation Operational Financial Strategic Production of 139.5 MBoepd, up 1Q16 adjusted cash flows Closed acquisition of core 6% over 1Q15…
2016 Capital Plan Executing a Disciplined, Returns-Based Capital Plan 2016 Capital Allocation 2016 capital plan unchanged at a range of 1.1bn to 1.3bn1 Drilling & Completion Infrastructure and other 35% less capital year-over-year1…
Capital Discipline Preserving Financial Strength; Improving Capital Efficiency Spending Within Cash Flows Creating Value Through the Cycle D&C Capital (mm)1 Adjusted Cash Flows D&C capital1 down 70% since 4Q14 900 250 (mm)2…
Improving Capital Productivity Enables Differentiated Long-Term Growth within Cash Flow Average Lateral Length 2016 Development (ft.) 7,000 Focus on extended laterals 5,000 5,200 Shift to pad development generates cost and time…
Northern Delaware Basin Industry-Leading Position with Multi-Zone Potential 2016 Plans ACREAGE POSITION 355,000 gross Pad drilling to drive operational efficiencies (250,000 net) acres Primary targets include 2nd Bone Spring, EDDY…
Southern Delaware Basin Consolidating High-Quality Acreage 2016 Plans ACREAGE POSITION 200,000 gross REEVES WARD Focused development on Wolfcamp (125,000 net) acres North Harpoon acquisition adds 12,000 net acres of core…
Midland Basin Optimizing Development HORIZONTAL CORE 2016 Plans ACREAGE POSITION Plan to add 2 rigs during May 2016 200,000 gross (110,000 net) acres ANDREWS MARTIN Expect to move to 5 rig program in June 2016 Build on…
New Mexico Shelf Enhancing Value in Legacy Oil Play 2016 Plans ACREAGE POSITION 150,000 gross Rate-of-return competitive at low oil prices (100,000 net) acres Focus on Upper Blinebry and Paddock EDDY LEA Optimize well spacing and…
Track Record of Prudent Financial Management Debt Maturity Profile1 (mm) STRONG CREDIT Strong Balance Sheet Credit facility 7.000% 5.500% 6.500% 5.500% RATINGS 0.5bn cash on the balance sheet S&P BB+ 2,500 Moodys Ba1 Substantial…
Creating Value Through the Cycle Proven strategy, Executing a disciplined, returns-based capital plan experienced team and high-quality assets to weather Investing within cash flows commodity price cycles Preserving financial…
Appendix
Hedge Position 2016 2Q16 - 4Q16 Second Third Fourth Quarter Quarter Quarter Total 2017 2018 OIL HEDGES Oil Swaps: (a) 60 MBopd Volume (Bbl) 5,985,000 5,460,000 5,054,000 16,499,000 19,110,000 6,540,000 Price per Bbl 73.38 74.21…
2016 Operational & Financial Outlook 2016 2Q16 OUTLOOK Guidance Production Production: Annual growth 0% 138 to 142 MBoepd Oil mix 60% - 64% Price realizations, excluding commodity derivatives Crude oil differential to NYMEX (/Bbl)…
EBITDAX Reconciliation (Unaudited) The Company defines EBITDAX as net income (loss), plus (1) exploration and abandonments expense, (2) depreciation, depletion and amortization expense, (3) accretion expense, (4) impairments of…
Adjusted Cash Flows Reconciliation (Unaudited) The following table provides a reconciliation of the GAAP measure of cash flows from operating activities to adjusted cash flows (non-GAAP) for the periods indicated: Three Months…
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