Core Oil Delaware Basin Pure Play GMT Exploration Acquisition Overview May 1, 2017
GMT Exploration acquisition overview Strategic entry into core, liquids-rich Northern Delaware Basin Opportunity summary Centennial Resource Development has agreed to acquire the E&P assets of GMT Exploration (GMT) for a total cash…
GMT acquisition adds core, liquids-rich inventory in the Northern Delaware Basin Pro forma Centennial summary GMT acreage and offset operators Net acreage Total drilling inventory Operated Operated Non-operated +16% Non-operated…
GMT Exploration acquisition rationale P Northern Delaware 11,860 net acres provide sizeable entry point with capacity for future consolidation Basin entry in the heart High percentage of State and Fee Lands (81%) simplifies…
Attractive valuation in light of increased industry activity and productivity in the Northern Delaware Basin Rig activity and 2016 Hz wells drilled by county Average 6-Month cumulative production per well (Mboe) 43 2 Northern…
Geologic diversity: 7+ proven zones across position Assumed spacing summary Inventory summary (Gross horizontal drilling locations) Operated Non-operated Formations Avalon Standalone GMT Exploration PF PF GMT GMT Total CDEV CDEV…
Geographic diversity: Well delineated, liquids-rich position Delaware Basin GOR map Historical wells drilled by formation GMT position located in the GMT position well liquids-rich core of the delineated by Northern Delaware Basin…
Strong well results support near-term capital allocation Cumulative oil prod. (includes only single section laterals) Wells included in GMT / offset operator analysis ( of wells)1 100,000 3rd Bone Spring average 2nd Bone Spring (61)…
Centennial 2020 Game Plan Delivering investor returns through operational outperformance Objective: Best equity performance of any U.S. Mid Cap E&P through 2020 Grow net oil production from 5,757 in 2016 to 60,000 Bbls/d by 2020…
Liquidity profile supported by borrowing base growth Significant borrowing base increases driven by organic production growth and Silverback acquisition 50mm incremental borrowing base capacity following closing of Silverback…
2017 Guidance Update and Q1 2017 summary Guidance summary Updated FY 2017 guidance Centennials estimated daily oil production Initial Updated volumes during Q1 2017 were approximately 10,500 Bbls/d, which represents an increase of…
GMT acquisition aligns with the Centennial strategy Delivering shareholder returns: Northern Delaware Basin entry in the heart of the Bone Spring trend Enhances pro forma geologic and geographic diversity Attractive purchase…
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