BARCLAYS CEO ENERGY- POWER CONFERENCE September 5, 2017
RSP PERMIAN OVERVIEW RSP OVERVIEW CONTIGUOUS ACREAGE POSITION IN CORE OF PERMIAN BASIN(1) 95,000 net acres across highly contiguous acreage blocks in the core of the Midland and Delaware Basins 4,500 net royalty acres in the…
2Q HIGHLIGHTS 2Q17 vs. 1Q17 LOE/BOE Production Cash G&A/BOE EBITDAX 20% 13% Excluding G&T 16% 9% 7% Including G&T Strong second quarter results attributable to organic growth in the Midland Basin, full…
ACQUISITIONS UPDATE Acquired leasehold and mineral interests in the Delaware LOCATOR MAP OF 2Q17 ACQUISITIONS & TRADES Basin Total aggregate purchase price of 228 MM, closed 3Q 6,000 net leasehold acres and 4,500 net royalty…
CAPITALIZATION AND LIQUIDITY SUMMARY 900MM elected commitment under the Companys revolving CAPITALIZATION TABLE credit facility with 1.1B borrowing base and 2.5B maximum lender commitments ( in millions) 6/30/2017 Key financial…
HEDGE PROFILE RSP continuing to protect 45+ floor into 4Q17 and 2018 Opportunistically added 12 MBo/d and 10 MBo/d, respectively, in recent crude rally HEDGE CONTRACT DETAIL Crude Oil (Bbl, /Bbl) 3Q17 4Q17 3Q17 4Q17 1Q18 2Q18 3Q18…
DRILLING AND COMPLETION ACTIVITY UPDATE During 2Q17, RSP drilled 22 and GROSS OPERATED ACTIVITY completed 18 operated HZ wells 10 Midland, 8 Delaware completions 56 53 Expect to drill 52-56 and complete 48-53 in 2H17 Deferring 6-8…
FULL YEAR 2017 GUIDANCE FULL YEAR 2017 GUIDANCE SUMMARY COMMENTARY 1H17 Reiterate full year 2017 production, unit cost and capex 2017 Guidance Range Actuals guidance ranges Production Revised completion guidance to 80-85 gross…
OUTLOOK FOR 2H17 AND BEYOND Continued focus on corporate-level returns and capital efficiency, not growth for growths sake Strong execution YTD, reiterate 2017 production, unit cost, and capex guidance Look to closely…
PRODUCTION PER DEBT-ADJUSTED SHARE GROWTH RSP consistently ranks 1 or 2 in production per debt-adjusted share growth 250% 217% 200% 199% 150% 152% 138% 134% 132% 128% 106% 100% 98% 96% 50% 0% Q2 2014 Q3…
OPERATIONAL UPDATE
MIDLAND BASIN POSITION 46,500 CONTIGUOUS FOOTPRINT + STACKED RESOURCE net acres 1,750 2,890 net drilling locations(1) 200 MMBoe Proved Reserves(2) 1.0 1.6 BBoe Total Resource 3,400 Potential(1) (1) Based on range from base…
MIDLAND BASIN INVENTORY 60% of drilling in 2018 targeting platinum inventory with CURRENT SPACING ASSUMPTIONS expected IRR 50% at 50 oil Base Spacing Mid - Upside Spacing 50% estimated weighted average return for 2018 drilling…
MIDLAND BASIN ACTIVITY UPDATE Excellent and consistent well results confirming enhanced completion design and asset quality RECENT WELL RESULTS MIDLAND BASIN ACTIVITY Lateral Length IP30 IP30 / Well Name Zone (Feet) (BOED) 1,000…
EXCELLENT WOLFCAMP RESULTS APPROACHING CENTRAL BASIN PLATFORM Strength of recent Wolfcamp A results approaching Central Basin Platform LOCATOR MAP expand RSP platinum drilling inventory 20-30 additional highly economic drilling…
DELAWARE BASIN POSITION 47,100 CONTIGUOUS FOOTPRINT + STACKED RESOURCE net leasehold acres 4,500 net royalty acres(1) 2,410 Lea net drilling locations(2) New Mexico Texas 80 MMBoe Proved Reserves(3) 5,700 1.8 BBoe Total…
DELAWARE BASIN INVENTORY 65% of drilling in 2018 targeting platinum inventory with CURRENT SPACING ASSUMPTIONS expected IRR 50% at 50 oil Base Spacing (Avg. Wells/Section) 65% estimated weighted average return for 2018 drilling…
DELAWARE BASIN ACTIVITY UDPATE Excellent well results reflecting improvements in drilling and completion designs RECENT WELLWELL RESULTS RESULTS DELAWARE BASIN ACTIVITY Lateral Length IP 30 IP30 / % Well Name Zone (Feet) (BOED)…
OFFSET OPERATORS CONTINUE TO DE-RISK EASTERN EDGE Solid results from offset operators along eastern edge of Delaware Basin further de-risk RSPs Winkler County acreage WELL RESULTS EASTERN DELAWARE BASIN ACTIVITY Deepest IP24…
SIMILAR UPPER WOLFCAMP SECTION FLANKING BOTH SIDES OF CENTRAL BASIN PLATFORM Midland Basin western acreage approaching Central Basin Platform edge analogous to far eastern portion of Delaware Basin position Midland Basin properties…
DELAWARE BASIN WELL PERFORMANCE Majority of RSPP existing operated wells have exceeded DELAWARE BASIN WELLS NEARING OR EXCEEDING PAYOUT or are approaching payout threshold, despite more conservative initial flowback At 50/bbl flat and…
DELAWARE BASIN WELL PERFORMANCE IMPROVEMENT 2017 wells drilled to date outperforming 2015 / 2016 vintage wells UPPER WOLFCAMP WELL PERFORMANCE BY VINTAGE 180,000 *Results normalized to 7,500' 160,000 140,000 120,000 Cum'l…
DELIVERING VALUE HIGH RETURN FOCUS ON RETURNS ASSETS & LOW COST & EXECUTION STRUCTURE STRONG FINANCIAL EXPERIENCED POSITION MANAGEMENT 25
APPENDIX
2ND BONE SPRING UPDATE: 2 DISTINCT LANDING ZONES Ludeman 505H (4,400 LL) has produced 147 MBoe…
DELAWARE BASIN 3D & SURFACE MICROSEISMIC BRUNSON D MICROSEISMIC Purchased 108 sq mi 3D data set from Fairfield Nodal (at time of Silver Hill acquisition) Acquiring new 137 sq mi 3D data set from TGS (Oct. 2017 delivery) Monitoring…
DELAWARE BASIN WOLFCAMP C & D ACTIVITY Wolfcamp C&D have been drilled by WPX, EOG, Concho, Devon & Cimarex Comparable log response on RSP leasehold Similar to other Wolfcamp zones, expect trend of increasing oil percentage as you…
FULL DEVELOPMENT UNDERWAY ACROSS MIDLAND BASIN ACREAGE RSP has several units approaching CROSS BAR RANCH SECTION 17 JOHNSON RANCH SECTION 10 full development of primary zones across breadth of acreage position 1st Prod Start…
2Q17 FINANCIAL RESULTS Production growth of 20% and EBITDAX growth of 9% over prior quarter despite lower oil prices LOE/Boe (excl. G&T) 13% lower than prior quarter, driven by Midland Basin efficiency gains and infrastructure gains D&C…
ADJUSTED EBITDAX AND ADJUSTED NET INCOME RECONCILIATION Reconciliation of Net Income (Loss) to Adjusted EBITDAX (in thousands) Three Months Ended June 30, Three Months Ended March 31, 2017 2016 2017 Net income (loss) 31,090 (9,801)…
Loading...
