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Silverback Exploration Acquisition – Centennial Resources Development

Centennial Resources Development · Nov 28, 2016 · 11 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. Silverback Exploration Acquisition – Centennial Resources Development – slide 1
    Core Oil Southern Delaware Basin Silverback Exploration Acquisition Overview November 2016
  2. Silverback Exploration Acquisition – Centennial Resources Development – slide 2
    Silverback acquisition overview Transformative acquisition of core, bolt-on Reeves County acreage An affiliate of Riverstone has agreed to acquire the E&P assets of Silverback Centennial (42,309 net acres) Exploration (Silverback or…
  3. Silverback Exploration Acquisition – Centennial Resources Development – slide 3
    Key transaction highlights Highly contiguous, operated bolt-on acreage position Significant inventory of operated extended laterals and sizeable resource potential Accretive to NAV, production and cash flow Attractive well…
  4. Silverback Exploration Acquisition – Centennial Resources Development – slide 4
    Centennial executes on strategic, opportunistic transaction Great fit, strengthens the Centennial position Silverback acquisition is consistent with strategy to add Delaware Basin acreage of similar quality to existing CDEV position…
  5. Silverback Exploration Acquisition – Centennial Resources Development – slide 5
    Delivering on investor returns Acquisition consistent with Centennial 2020 Game Plan Objective: Best equity performance of any U.S. Small Cap E&P through 2020 Game Plan: Selectively pursue transformative acquisition in Permian…
  6. Silverback Exploration Acquisition – Centennial Resources Development – slide 6
    Significant enhancement to 2020 Game Plan P Highly contiguous operated acreage position Contiguous Reeves County position with 35,000 net acres (44,000 gross acres) Acreage is 95% operated, with 88% working interest on operated…
  7. Silverback Exploration Acquisition – Centennial Resources Development – slide 7
    Silverback acquisition adds extensive inventory of economic locations across a larger pro forma operated footprint Material increase in inventory life, operated extended lateral locations and resource potential Total locations1…
  8. Silverback Exploration Acquisition – Centennial Resources Development – slide 8
    Wolfcamp A oil results comparable to CDEV acreage SBE Area WC A vs CDEV NSAI PUD1,2 Centennial Acreage Silverback Acreage 140 CDEV NSAI Avg PUD (Oil EUR: 457 MBo) SBE Area WC A3 CDEV NSAI Avg PUD + 20% (Oil EUR: 548 MBo) Cumulative…
  9. Silverback Exploration Acquisition – Centennial Resources Development – slide 9
    Single well returns analogous to existing inventory Higher GOR drives equivalent oil production with higher returns and EURs 75% of Silverbacks acreage has a higher Gas-to-Oil ratio than CDEVs existing Wolfcamp A GOR Map1 acreage…
  10. Silverback Exploration Acquisition – Centennial Resources Development – slide 10
    Centennial pro forma horizontal development plan Initiate development on acquired acreage and continue shift to extended laterals Near-term development planned across the entirety of the pro forma core acreage footprint Increase focus…
  11. Silverback Exploration Acquisition – Centennial Resources Development – slide 11
    The Centennial Team Name Position Background Mark Papa Chief Executive Officer Formerly Chief Executive Officer of EOG Resources Formerly Partner of Riverstone; Current Advisor to Riverstone Sean Smith Chief Operating Officer Legacy…

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