Core Oil Delaware Basin Pure-Play Second Quarter 2017 Earnings Presentation August 7, 2017
Centennial Q2 2017 highlights Reported 20.8mm of GAAP net income(1) and 63.1mm of adjusted EBITDAX(2) Increased Q2 2017 average daily oil production volumes by 66% compared to Q1 2017; average daily oil equivalent volumes up 61%…
Operational and financial outperformance Production growth Cash flow / income growth Oil production (Bo/d) Oil equivalent production (Boe/d) Adjusted EBITDAX1 ( mm) Net income2 ( mm) % oil of total production 17,435 29,664 20.8 63.1…
Industry leading well results in Reeves County Publicly released well results since Q4 2016 CDEV / offset operator Reeves County well results (IP-30 Bo/d / 1,000) Centennial Reeves County well locator map Russell 6H 359 Stephens 2H…
Tangible results from new technical team on Silverback acreage Average cumulative oil production by operator on acquired Silverback acreage (MBo; normalized to 4,500, includes all lateral lengths) 70 66 Operator evolution 2017…
Russell and Stephens wells significantly outperforming our best well ever drilled as of Q1 Single section laterals…
Recent extended laterals outperforming legacy results Two section laterals (8,000) cum. oil production (Mbo) Well locator and summary results 100 Ninja 4-50 49 1H has Centennial average: 2016-Q1 2017 (4 wells) produced greater than…
Summary Q2 2017 Financial Results Financial summary (mm)1 ( in millions, unless specified) Q2 2017 Q1 2017 % change Average Daily Production (Boe/d) 29,664 18,469 61% Average Daily Oil Production (Bo/d) 17,435 10,489 66% % Oil 59%…
Superior leverage profile provides operational flexibility Net Debt / Total Capitalization1 Net Debt / 2017E EBITDAX1 82% 3.0x 21% 19% 1.9x 18% 1.8x 18% 1.4x 13% 1.3x 12% 1.1x 0.8x 0.2x 1% 0% 0.0x Peer 1…
Simplifying Centennials Equity Capital Base Evolution of shares outstanding (Class A & Class C)1 Key initiatives to-date: Redemption of public 23.5 275.8 warrants 26.1 Conversion of Series B 6.2 36.5 preferred shares 183.5…
Revised 2017 Guidance Summary Guidance summary Updated FY 2017 guidance Post - GMT Updated Deferring addition of 7th rig, 6 rigs flat 2017 FY Guidance 2017 FY Guidance for second half of 2017 Net Average Daily Production (Boe/d)…
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 Bo/d in 2016 to 60,000 by 2020 Become…
Centennial Resource Development Overview Core Delaware Basin Pure-Play Increased Q2 2017 average daily oil production volumes by 66% compared to Q1 2017; average daily oil equivalent volumes up 61% Increased commodity mix from 57%…
Reconciliation of Adjusted EBITDAX to Net Income Adjusted EBITDAX reconciliation ( thousands)1 Q2 2017 Q1 2017 Successor For the three months For the three months October 11, 2016 through Adjusted EBITDAX reconciliation to net…
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