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June 2017 Investor Presentation – Concho Resources, Inc.

Concho Resources, Inc. · Jun 6, 2017 · 23 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. June 2017 Investor Presentation – Concho Resources, Inc. – slide 1
    Investor Presentation JUNE 2017
  2. June 2017 Investor Presentation – Concho Resources, Inc. – slide 2
    Concho Resources Largest Pure-Play Permian Company Premier Permian Assets Leading exposure to the Permian Basin New Mexico Shelf 930,000 gross (600,000 net) acres Four core areas benefit capital flexibility Midland Northern Basin…
  3. June 2017 Investor Presentation – Concho Resources, Inc. – slide 3
    Driving Superior Capital Efficiency through Scale Defining the Scale Advantage Premier Permian Position Size & Quality High-quality assets, better well productivity, exceptional source of upside Long lateral, manufacturing-style…
  4. June 2017 Investor Presentation – Concho Resources, Inc. – slide 4
    Manufacturing Growth Maximizing Returns & Recoveries of High-Quality Resource Manufacturing Mode is New Mexico Shelf Manufacturing Transforming Our Business Across the Portfolio: Key Projects Midland Large-scale projects Northern…
  5. June 2017 Investor Presentation – Concho Resources, Inc. – slide 5
    Growing Production and Controlling Costs Increasing Quarterly Production Controlling Costs (/Boe) MBoepd Production Expense Cash G&A Interest Expense 181.4 14.53 164.3 13.06 152.9 145.2 4.27 11.50 139.5 11.33 4.13 10.46…
  6. June 2017 Investor Presentation – Concho Resources, Inc. – slide 6
    Executing a Disciplined Capital Program Operating Cash D&C Capital vs. Cash Flows (mm) Flows Exceeded D&C Drilling & Completion Capital1 Cash Flow from Operations Production (MBoepd) Capital for Past Seven Quarters 731 181 164…
  7. June 2017 Investor Presentation – Concho Resources, Inc. – slide 7
    2017 Capital Program Capital-Efficient Growth & Value Creation Maximizing Scale 2017 Capital Program Allocation Extending Efficiency Gains Advantage through Diversified Capital Total capital program: 1.6bn to 1.8bn1 Rig Count…
  8. June 2017 Investor Presentation – Concho Resources, Inc. – slide 8
    Performance Track Record, Robust Outlook Delivering Differentiated Growth Visible Growth from High-Quality Assets Expect 2017 annual production growth of MBoepd 21% - 25% within cash flow Crude oil production expected to grow 25%…
  9. June 2017 Investor Presentation – Concho Resources, Inc. – slide 9
    Strong Balance Sheet Enhances Flexibility Net Debt / EBITDAX1 Peers 4.4x CXO Today vs. YE15 600mm less absolute debt 3.6x 55mm less annual interest expense Lower cost of capital 2.7x 2.2x 2.1x 2.0x 2.0x 1.9x Average2: 2.0x 1.6x…
  10. June 2017 Investor Presentation – Concho Resources, Inc. – slide 10
    Track Record of Peer-Leading Execution 10-Year Production Growth per Debt-Adjusted Share (CAGR)1 Peers 23% 19% 20% 13% 9% 9% 8% Average2: 6% 6% 5% 2% A B C D E F G H I J K L M N -1% -1% -1% -3% -3% Data per…
  11. June 2017 Investor Presentation – Concho Resources, Inc. – slide 11
    Key Messages Committed to Disciplined Capital Our Scale & Our Strategy Allocation Execution Strength Wins Hire the best Capital spending on Drive productivity gains high-ROR projects Develop the best asset base Control costs…
  12. June 2017 Investor Presentation – Concho Resources, Inc. – slide 12
    Appendix
  13. June 2017 Investor Presentation – Concho Resources, Inc. – slide 13
    Northern Delaware Basin Industry-Leading Exposure to Prolific Stacked Resource 380,000 gross 1Q17 Results (260,000 net) acres Added 16 horizontal wells (avg. lateral length 5,084) Record Performance: 12,000 Horizontal Drilling…
  14. June 2017 Investor Presentation – Concho Resources, Inc. – slide 14
    Northern Delaware Basin: Red Hills Area Oil-Rich, Multi-Zone Development Red Hills Multi-Zone Well Performance 440 LEA 400 Average per Well Cumulative Production (MBoe)1 360 Red Hills Area 320 EDDY 280 2 1 3 4 240…
  15. June 2017 Investor Presentation – Concho Resources, Inc. – slide 15
    Northern Delaware Basin: Deep Area Extending the Oil-Rich Fairway North Deep Area Deep Area Bone Spring Well Performance LEA 1 Average Per Well Cumulative Production (MBoe)1 1 EDDY Outstanding Bone Spring…
  16. June 2017 Investor Presentation – Concho Resources, Inc. – slide 16
    Southern Delaware Basin Core Position in Rapidly Advancing Oil Play 160,000 gross 1Q17 Results (100,000 net) acres Added 9 horizontal wells (avg. lateral length 8,184) 1,300 Horizontal Drilling Avg. 30-day peak rate: 1,632 Boepd (73%…
  17. June 2017 Investor Presentation – Concho Resources, Inc. – slide 17
    Midland Basin Building Momentum with Large-Scale Development Projects 260,000 gross 1Q17 Results (160,000 net) acres Added 21 horizontal wells (avg. lateral length 9,910) 4,000 Horizontal Drilling Avg. 30-day peak rate: 1,164 Boepd…
  18. June 2017 Investor Presentation – Concho Resources, Inc. – slide 18
    New Mexico Shelf Improving Recoveries in Legacy Oil Play 130,000 gross 1Q17 Results (80,000 net) acres Added 7 horizontal wells (avg. lateral length 4,517) 2,100 Horizontal Drilling Avg. 30-day peak rate: 546 Boepd (84% oil) Record…
  19. June 2017 Investor Presentation – Concho Resources, Inc. – slide 19
    2017 Operational & Financial Outlook 2017 Guidance 2Q17 GUIDANCE Production 182 - 186 MBoepd Annual growth 21% - 25% Oil mix 62% - 64% Price realizations, excluding commodity derivatives Crude oil differential to NYMEX (per Bbl)…
  20. June 2017 Investor Presentation – Concho Resources, Inc. – slide 20
    Hedge Position 2017 2018 2019 Disciplined hedging Second Third Fourth Total Total Total program protects Oil Swaps1: capital program and Volume (Bbl) 8,679,480 7,966,370 7,188,080 23,833,930 23,933,124 14,160,000 Price per Bbl 56.48…
  21. June 2017 Investor Presentation – Concho Resources, Inc. – slide 21
    Capitalization As of Strong Financial 3/31/2017 Position Recent transactions Cash 771 and liability management reduce Debt leverage metrics and Revolving Credit Facility - increase liquidity 5.500% Senior Notes due 2022 600 5.500%…
  22. June 2017 Investor Presentation – Concho Resources, Inc. – slide 22
    Reconciliation of Net Income (Loss) to EBITDAX (Unaudited) EBITDAX (as defined below) is presented herein and reconciled from the GAAP measure of net income (loss) because of its wide acceptance by the investment community as a financial…
  23. June 2017 Investor Presentation – Concho Resources, Inc. – slide 23
    Costs Incurred (Unaudited) The following table summarizes costs incurred for oil and natural gas producing activities for the periods indicated: Three Months Ended March 31, December 31, September 30, June 30, March 31, December 31,…

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