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2Q 2017 Investor Presentation – Parsley Energy Inc.

Parsley Energy Inc. · Aug 3, 2017 · 21 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. 2Q 2017 Investor Presentation – Parsley Energy Inc. – slide 1
    INVESTOR PRESENTATION 2Q 2017
  2. 2Q 2017 Investor Presentation – Parsley Energy Inc. – slide 2
    2Q17 Highlights Multi-faceted Value Creation Premier Permian Position High-margin growth Parsley Energy Leasehold Production up 18% vs 1Q17 ANDREWS MARTIN LEA Portfolio optimization HOWARD GLASSCOCK Acreage trades…
  3. 2Q 2017 Investor Presentation – Parsley Energy Inc. – slide 3
    Sustained Production Momentum Quarterly Production Trajectory Strong production momentum despite intensive delineation agenda 100 2Q17 daily net production up 18% versus 1Q17 80.0 - 90.0 and 81% year-over-year 80 Raising…
  4. 2Q 2017 Investor Presentation – Parsley Energy Inc. – slide 4
    Top-Tier Capital Efficiency Operating Margin (/Boe) Recycle Ratio(1) 35 6.00 Parsley Energy 30 5.00 25 Parsley Energy 4.00 20 3.00 15 2.00 10 1.00 5 0 0.00 Oily E&P Companies Gassy E&P Companies Oily E&P Companies…
  5. 2Q 2017 Investor Presentation – Parsley Energy Inc. – slide 5
    Accretive Acreage Trades Recent acreage trades enhance development potential of core Midland Basin Acreage Trades operated footprint Traded out of scattered non-operated properties with low working interest (WI) into concentrated…
  6. 2Q 2017 Investor Presentation – Parsley Energy Inc. – slide 6
    Delineation Milestones Midland Basin Delineation Objectives Midland Basin Delineation 1 First Wolfcamp C well Parsley Energy Leasehold 2 First Upper Wolfcamp A well GLASSCOCK 3 330 Downspacing in Upper/Lower Wolfcamp B 4…
  7. 2Q 2017 Investor Presentation – Parsley Energy Inc. – slide 7
    Strong Indications from Wolfcamp C Interval First Wolfcamp C well (Taylor) still naturally flowing and Wolfcamp C Fairway & Well Locations continues robust production trend with 215,000 barrels 200 600 1,000 of oil recovered through…
  8. 2Q 2017 Investor Presentation – Parsley Energy Inc. – slide 8
    Promising Results from Wolfcamp B Downspacing Pilot Initial results from 8-well Wolfcamp B project at 330 Downspaced Test Results Suggest Value-Add Potential(1) spacing support downspacing potential with projected NPV uplift of 30%+…
  9. 2Q 2017 Investor Presentation – Parsley Energy Inc. – slide 9
    Second Wolfcamp A Landing Zone Confirmed Encouraging results from first Upper / Lower Strong Production Trends from Upper / Lower WC A Stack Test Wolfcamp A stack test, confirming a second landing zone in the Wolfcamp A interval…
  10. 2Q 2017 Investor Presentation – Parsley Energy Inc. – slide 10
    Three Productive Wolfcamp Targets in Pecos County Positive results in two previously-untested Promising Results in Wolfcamp Zone Delineation Tests Wolfcamp flow units in Pecos County, one above 100 Cumulative Production…
  11. 2Q 2017 Investor Presentation – Parsley Energy Inc. – slide 11
    Robust Well Performance Trends Strong well performance despite high proportion of Midland Basin Normalized IP30s Continue to Strengthen(1) delineation projects 200 185* The Morgan 25-26-4215H in Upton County set a new 180 171…
  12. 2Q 2017 Investor Presentation – Parsley Energy Inc. – slide 12
    Significant Productivity Gain with Compressed Stage Design Initial Wolfcamp B compressed stage test outperforming Compressed Stage Test Outperforming Standard Design direct offset with standard design by 20% with less than 5%…
  13. 2Q 2017 Investor Presentation – Parsley Energy Inc. – slide 13
    Strong Financial Position Peer-leading(1) liquidity of 1.5 billion Ample Liquidity provides ample flexibility to fund efficient 1,500 MM growth plan Fully undrawn borrowing base of 1.4 503 billion, with company-elected commitment…
  14. 2Q 2017 Investor Presentation – Parsley Energy Inc. – slide 14
    Substantial Oil Hedge Position Estimated Percent of 2018 Oil Hedged(1) Proactive hedging program protects cash 80% flow and balance sheet Parsley Energy 70% Over 70% of consensus oil volumes 60% hedged in 2018 50% 40%…
  15. 2Q 2017 Investor Presentation – Parsley Energy Inc. – slide 15
    Updated 2017 Guidance Production 2017E (Previous) 2017E (Updated) Increasing FY17 and 4Q17 production guidance on stronger Annual Net Production (MBoe/d) 65 71 67 - 73 well productivity % Oil 68 73% 67 70% Adjusting product mix to…
  16. 2Q 2017 Investor Presentation – Parsley Energy Inc. – slide 16
    Parsley Energy Investment Summary GAINES DAWSON Premier acreage Parsley Energy Leasehold Proven execution Strong financial position ANDREWS MITCHELL Robust returns MARTIN HOWARD Abundant resource upside Capital efficient…
  17. 2Q 2017 Investor Presentation – Parsley Energy Inc. – slide 17
    Investment Highlights SUPPLEMENTARY SLIDES 18
  18. 2Q 2017 Investor Presentation – Parsley Energy Inc. – slide 18
    Expansive, High-quality Drilling Inventory Extensive inventory of premium drilling Horizontal Drilling Inventory(1) locations provides visibility to years of high- WELLS PER return production growth GROSS NET SECTION Development…
  19. 2Q 2017 Investor Presentation – Parsley Energy Inc. – slide 19
    Robust Well Economics Midland Basin ROR and NPV Sensitivities 40 WTI 50 WTI 60 WTI 50% 5.0 90% 8.0 140% 10.0 Current D&C Costs(1) 4.5 80% 7.0 120% 40% 4.0 70% 8.0 6.0 3.5 100% 60% 5.0 6.0 30% 3.0 80% 50% 2.5 4.0 40% 60%…
  20. 2Q 2017 Investor Presentation – Parsley Energy Inc. – slide 20
    Efficient Reserve Growth PD F&D (/Boe) Ranks Highly among Oily E&Ps(1) YE16 proved reserves up 80% Y/Y (oil 40 up 85% Y/Y) despite writing off 35 remaining 18 MMBoe of vertical PUD 30 reserves 25 20 Parsley Energy Strong organic…
  21. 2Q 2017 Investor Presentation – Parsley Energy Inc. – slide 21
    Substantial Oil Hedge Position 3Q17 4Q17 1Q18 2Q18 3Q18 4Q18 1Q19 2Q19 3Q19 4Q19 Put Spreads (MBbls/d)1 35.7 45.5 26.7 26.4 26.1 26.1 6.7 6.6 Put Price (/Bbl) 51.23 50.96 52.81 51.88 50.00 50.00 50.00 50.00 Short Put Price (/Bbl)…

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