Second-Quarter 2016 Highlights Delivering on Near-Term Objectives, Focusing on Long-Term Value Creation Operational Financial Strategic Production of 145.2 MBoepd, up Strong operational performance Balance sheet continues to 4% over…
Delivering Strong Production Volumes Raised FY16 Production Outlook Fewer Wells Delivering Strong Production Volumes Production (MBoepd) Gross Well Completions 2Q16 production exceeded high-end of 180 guidance range 147.4 149.3…
Maintaining Focus on Cost Control Sustainable Efficiencies Reducing Operating Costs Per-Unit LOE (/Boe) Annual Significantly reduced per-unit LOE Key initiatives: 7.45 7.46 Asset-wide focus on transporting water disposal volumes…
Executing a Disciplined Capital Program Preserving Financial Strength; Improving Capital Productivity Spending Within Cash Flows (mm) D&C Capital1 Operating Cash Flows D&C capital1 down 65% since 4Q14 & Cash Settlements from…
Enhancing Value Improving Well Performance and Reducing Costs Continuous improvement in well performance Decrease in Total Well Cost / Lateral Foot Drilling & completion optimization driving strong well performance Since 1Q15…
Northern Delaware Basin Industry-Leading Position with Multi-Zone Potential 2016 Plans ACREAGE POSITION 355,000 gross Multi-well pad drilling to drive operational (250,000 net) acres efficiencies EDDY Primary targets include 2nd…
Oil-Rich Avalon Shale Completion Optimization Enhancing Well Performance Avalon Cumulative Production NORTHERN DELAWARE BASIN Completion optimization 200 enhancing well performance 2016 Avg. 2015 Avg. Delineated Upper and Lower…
Southern Delaware Basin Core Position in Rapidly Advancing Oil Play 2016 Plans ACREAGE POSITION 200,000 gross REEVES WARD Focused development on Wolfcamp (125,000 net) acres Delineating 3rd Bone Spring Sand zone CURRENT RIG 2Q16…
Midland Basin Optimizing Development 2016 Plans HORIZONTAL CORE ACREAGE POSITION Build on long-lateral success and shift to multi-well pad 200,000 gross drilling ANDREWS MARTIN (110,000 net) acres Optimize completion technique…
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…
Key Messages Conchos Development Optimization Enhances Asset Value Consistent execution of our strategy Large-scale, diversified asset base within the Permian provides competitive advantage Capital flexibility across assets Intense…
Hedge Position 2016 Third Fourth 2H16 OIL HEDGES Quarter Quarter Total 2017 2018 Oil Swaps1: 57.1 MBopd Volume (Bbl) 5,460,000 5,054,000 10,514,000 19,110,000 9,240,000 Price per Bbl 74.21 59.38 67.08 55.36 48.81 Oil Basis…
2016 Operational & Financial Outlook 2016 3Q16 OUTLOOK Guidance Production Production: Annual growth 0% - 2% 144 to 148 MBoepd Oil mix 60% - 64% Price realizations, excluding commodity derivatives Crude oil differential to NYMEX…
Reconciliation of Net Loss to Adjusted Net Income & Adjusted Earnings per Share Presentation (Unaudited) The Companys presentation of adjusted net income and adjusted earnings per share that exclude the effect of certain items are…
Reconciliation of Net Loss to EBITDAX (Unaudited) EBITDAX (as defined below) is presented herein and reconciled from the GAAP measure of net loss because of its wide acceptance by the investment community as a financial indicator of a…
Operating Cash Flows & Cash Settlements from Derivatives (Unaudited) The following table summarizes operating cash flows and cash settlements from derivatives for the periods indicated: Three Months Ended June 30, March 31, December…
Costs Incurred (Unaudited) The following table summarizes costs incurred for oil and natural gas producing activities for the periods indicated: Three Months Ended June 30, March 31, December 31, September 30, June 30, March 31,…
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