Core Oil Delaware Basin Pure-Play Barclays Global CEO-Energy Power Conference September 6, 2017
2017 Game Plan Objective: Best equity performance of any U.S. Mid Cap E&P through 2020 Grow net oil production 215% to 18,000 Bo/d P Become mid-cap technical leader in G&G and well completion technology P Achieve above average…
Q2 2017 Highlights Stellar Q2 production growth Increased Q2 2017 average daily oil production volumes by 66% compared to Q1 2017; average daily oil equivalent volumes up 61% Increased FY 2017 oil and oil equivalents production…
Increased FY Production Guidance While Reducing Rig Count Production growth Net average daily production (Boe/d) Oil net average daily production (Bbls/d) 29,500 18,000 15,750 25,750 2017 FY Guidance 2017 FY Guidance 2017…
Improved Profit Indicators Cash flow / income growth Adjusted EBITDAX1 ( mm) Net income2 ( mm) 63.1 36.4 9.8 Q1 2017 Q2 2017 Q1 2017 Q2 2017 (1) Adjusted EBITDAX is not presented in accordance with generally accepted accounting…
Industry Leading Well Results in Reeves County CDEV / offset operator Reeves County well results (IP-30, Bo/d / 1,000) Reeves County well locator map Russell 6H 359 Stephens 2H 359 Single section laterals…
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 Best Well Single section laterals…
Recent Extended Laterals Outperforming Legacy Results Two section laterals (8,000) Well locator and summary results 100 Centennial average: 2016-Q1 2017 (4 wells) Ninja 4-50 49 1H WARD Production from Centennial average: Q2 2017…
Improved Well Results Due to Better geologic targeting In-house well steering Frac upgrades 13
Centennial Provides Investors with Peer Leading Growth and Best-In-Class Leverage Metrics Debt-Adjusted Production Per Share Growth Net Debt / Total Capitalization(2) (2017 2019 CAGR)(1) 71% 79% 62% 22% 22% 21% 19%…
Centennial Summary Good acreage position Proven technical team Conservative management Highest debt-adjusted oil growth CAGR Lowest debt 15
Appendix 16
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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