Core Oil Southern Delaware Basin Goldman Sachs Global Energy Conference January 2017
The Centennial Strategy A complete and well-rounded business approach: Best-in-class production growth Grow net oil production from 6,100(1) to 50,000 Bo/d by 2020 (from Wolfcamp only) High quality asset in one of North Americas…
Centennial Overview Core Delaware Basin Pure-Play Large, contiguous position in Southern Acreage in the Oily Southern Delaware Core Delaware Basin 77,500 net acres primarily in Reeves County 87% operated Low-risk, oil-rich base…
Delaware Basin Reservoir Fluid Trends Convergence of High Productivity and High Oil Content Centennial located in the oil window of the WC Reservoir Fluid Trend: Gas-Oil Ratio (1) Delaware Basin Oil content 70% on 3 stream basis on…
Building An Extensive Inventory of Economic Locations Across a Larger Operated Footprint Material increase in inventory life, operated extended lateral locations and resource potential Total locations(1) Operated locations(1)…
Driving Operational Improvements D&C CAPEX Q3 Completed Wells (MM) (1) When analyzing D&C capital efficiency, Lateral Length (ft) Centennial continues to be a top tier 8 5,000 4,536 4,455 performer 4,500 7 4,000…
Stacked Pay Provides Extensive Resource Potential Centennial Producing from Five Unique Zones with Upside for Seven More Multiple Stacked Pay Zones Wolfcamp GR RES POR KER Sw LITH OIP G.SAT Wolfcamp A is largely delineated across…
Best-In-Class Leverage Metrics Net Debt / TTM Adjusted EBITDAX (x) Centennial vs Permian Public Peers (1) (2) (3) 3.0x 2.6x 2.6x 2.6x 1.8x 1.7x Zero Debt + 100MM Cash at YE 2016 0.0x Peer 1 Peer 2 Peer 3 Peer 4…
Centennial Horizontal Development Plan Near-term development planned across the entirety of the core acreage footprint Increase focus on extended lateral locations Wolfcamp A will remain primary target and Wolfcamp B & C and 3rd Bone…
Delivering on Investor Returns Objective: Best equity performance of any U.S. Small Cap E&P through 2020 Game Plan: Selectively pursue transformative acquisition in Permian 2016 Maintain one of the lowest net debt positions of…