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JP Morgan Inaugural Energy Equity Conference – Concho Resources, Inc.

Concho Resources, Inc. · Jun 29, 2016 · 18 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. JP Morgan Inaugural Energy Equity Conference – Concho Resources, Inc. – slide 1
    J.P. Morgan Inaugural Energy Equity Conference JUNE 27, 2016
  2. JP Morgan Inaugural Energy Equity Conference – Concho Resources, Inc. – slide 2
    Conchos Strategy Focused on Creating Value Highly technical, motivated team People Legacy of successful consolidation in the Permian Basin High-quality assets in the Delaware Basin, Midland Basin & New Mexico Shelf Assets…
  3. JP Morgan Inaugural Energy Equity Conference – Concho Resources, Inc. – slide 3
    The Permian Basin Resource-Rich with Long-Term Development Opportunities Key Advantages Conchos Assets Geographic reach (its big) Resource rich New Mexico Shelf Multi-zone opportunities Midland Basin Repeatability…
  4. JP Morgan Inaugural Energy Equity Conference – Concho Resources, Inc. – slide 4
    Skilled Consolidator Building a Premier Permian Company Skilled Consolidator Todays Focus: Active Portfolio Management Key acquisitions established premier Permian Well-defined, high-quality inventory position Enhance core areas…
  5. JP Morgan Inaugural Energy Equity Conference – Concho Resources, Inc. – slide 5
    Execution Strength Conchos Development Machine Enhances Asset Value 1,015 15 18,000 Total Horizontal Rigs Running Identified Horizontal Wells Drilled Largest Rig Program Drilling Locations 2009-1Q16 in the Permian Large-scale,…
  6. JP Morgan Inaugural Energy Equity Conference – Concho Resources, Inc. – slide 6
    Execution Strength Performance Track Record Production Leading Permian production growth Oil Production (MBopd) Total Production (MBoepd) 2015 production up 28% over 2014, exceeding 143.3 initial expectations of 16%-20% growth 2-year…
  7. JP Morgan Inaugural Energy Equity Conference – Concho Resources, Inc. – slide 7
    Results Support our Strategy PROVED RESERVES Concho IPO (2007) Today 27% CAGR Proved Reserves 91.0 623.5 (MMBoe) PRODUCTION Production 13.8 143.3 34% CAGR (MBoepd) 260,000 gross 1,000,000 gross Permian Acreage (110,000 net)…
  8. JP Morgan Inaugural Energy Equity Conference – Concho Resources, Inc. – slide 8
    Capital Discipline Preserving Financial Strength; Improving Capital Efficiency Strong Capital Discipline D&C Capital (mm)1 900 250 D&C capital1 down 70% since 4Q14 Resilient production base 800 807 Total daily production is up…
  9. JP Morgan Inaugural Energy Equity Conference – Concho Resources, Inc. – slide 9
    2016 Capital Plan Executing a Disciplined, Returns-Based Capital Plan 2016 Capital Allocation 2016 capital plan unchanged at a range of 1.1bn to Drilling & Completion Infrastructure and other 1.3bn1 Activity 35% less capital…
  10. JP Morgan Inaugural Energy Equity Conference – Concho Resources, Inc. – slide 10
    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…
  11. JP Morgan Inaugural Energy Equity Conference – Concho Resources, Inc. – slide 11
    Key Messages Leveraging Our Strengths Premier asset base in the Permian Basin Consistent execution of our strategy Commitment to capital discipline Intense focus on operational excellence Active portfolio management Long-Term…
  12. JP Morgan Inaugural Energy Equity Conference – Concho Resources, Inc. – slide 12
    Appendix
  13. JP Morgan Inaugural Energy Equity Conference – Concho Resources, Inc. – slide 13
    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…
  14. JP Morgan Inaugural Energy Equity Conference – Concho Resources, Inc. – slide 14
    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…
  15. JP Morgan Inaugural Energy Equity Conference – Concho Resources, Inc. – slide 15
    Midland Basin Optimizing Development HORIZONTAL CORE 2016 Plans ACREAGE POSITION 5-rig program beginning June 2016 200,000 gross ANDREWS MARTIN (110,000 net) acres Build on long-lateral success and shift to pad drilling Optimize…
  16. JP Morgan Inaugural Energy Equity Conference – Concho Resources, Inc. – slide 16
    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…
  17. JP Morgan Inaugural Energy Equity Conference – Concho Resources, Inc. – slide 17
    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…
  18. JP Morgan Inaugural Energy Equity Conference – Concho Resources, Inc. – slide 18
    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)…

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