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September 2017 Investor Presentation – Parsley Energy Inc.

Parsley Energy Inc. · Sep 22, 2017 · 24 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. September 2017 Investor Presentation – Parsley Energy Inc. – slide 1
    INVESTOR PRESENTATION September 2017
  2. September 2017 Investor Presentation – Parsley Energy Inc. – slide 2
    Parsley Energy Overview Premier Permian Pure-Play Parsley Leasehold Superior acreage portfolio Parsley Energy Leasehold Premier combination of acreage quality and quantity ANDREWS Large, concentrated development blocks in heart of…
  3. September 2017 Investor Presentation – Parsley Energy Inc. – slide 3
    Sustained Production Momentum Quarterly Production Trajectory Strong production momentum despite intensive delineation agenda 100 80.0 - 90.0 2Q17 daily net production up 18% versus 1Q17 and 81% year-over-year 80 At 2Q17…
  4. September 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. September 2017 Investor Presentation – Parsley Energy Inc. – slide 5
    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…
  6. September 2017 Investor Presentation – Parsley Energy Inc. – slide 6
    Substantial Oil Hedge Position Estimated Percent of 2018 Oil Hedged(1) Proactive hedging program protects cash 100% flow and balance sheet Parsley Energy 90% 80% Over 90% of consensus oil volumes 70% hedged in 2018 60% 50%…
  7. September 2017 Investor Presentation – Parsley Energy Inc. – slide 7
    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…
  8. September 2017 Investor Presentation – Parsley Energy Inc. – slide 8
    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…
  9. September 2017 Investor Presentation – Parsley Energy Inc. – slide 9
    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 255,000 barrels 200 600 1,000 of oil recovered through…
  10. September 2017 Investor Presentation – Parsley Energy Inc. – slide 10
    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…
  11. September 2017 Investor Presentation – Parsley Energy Inc. – slide 11
    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%+…
  12. September 2017 Investor Presentation – Parsley Energy Inc. – slide 12
    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…
  13. September 2017 Investor Presentation – Parsley Energy Inc. – slide 13
    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%…
  14. September 2017 Investor Presentation – Parsley Energy Inc. – slide 14
    2017 Guidance Summary Production 2017E (Previous) 2017E (Updated) At 2Q17 update: Annual Net Production (MBoe/d) 65 71 67 - 73 Increased FY17 and 4Q17 production guidance on stronger % Oil 68 73% 67 70% well productivity Adjusted…
  15. September 2017 Investor Presentation – Parsley Energy Inc. – slide 15
    Parsley Energy Investment Summary GAINES DAWSON Premier acreage in oil Parsley Energy Leasehold windows Strong financial position ANDREWS MITCHELL Robust returns MARTIN Abundant resource upside HOWARD Capital efficient…
  16. September 2017 Investor Presentation – Parsley Energy Inc. – slide 16
    Investment Highlights SUPPLEMENTARY SLIDES 17
  17. September 2017 Investor Presentation – Parsley Energy Inc. – slide 17
    Midland Basin Production Overview Midland Basin GOR and % Oil Trends(1) Wolfcamp A/B wells showing 10,000 100% relatively stable GOR and oil % 9,000 90% after initial drawdown period 3-Stream Net of POP Oil Cut % 8,000 80%…
  18. September 2017 Investor Presentation – Parsley Energy Inc. – slide 18
    Efficient Midland Basin Drilling Midland Basin Drill Times(1) 0' Three casing string design proving 1,000' effective across Midland Basin drilling program 2,000' No shift in drilling pace through the 3,000' San Andres zone…
  19. September 2017 Investor Presentation – Parsley Energy Inc. – slide 19
    Capital Efficient Oil Growth 2Q17 % Liquids Organic Bo/d Added per MM Capex LTM(1) 100% 60 90% 40 Parsley Energy Parsley Energy 80% 20 70% 0 60% (20) 50% (40) 40% (60) Favorable production mix, with high…
  20. September 2017 Investor Presentation – Parsley Energy Inc. – slide 20
    Positive Well Performance Trends Strong well performance in 2Q17 despite high Midland Basin Normalized IP30s Continue to Strengthen(1) proportion of delineation projects 200 185* During 2Q17, the Morgan 25-26-4215H in Upton County…
  21. September 2017 Investor Presentation – Parsley Energy Inc. – slide 21
    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…
  22. September 2017 Investor Presentation – Parsley Energy Inc. – slide 22
    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%…
  23. September 2017 Investor Presentation – Parsley Energy Inc. – slide 23
    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…
  24. September 2017 Investor Presentation – Parsley Energy Inc. – slide 24
    Substantial Oil Hedge Position 3Q17 4Q17 1Q18 2Q18 3Q18 4Q18 1Q19 2Q19 3Q19 4Q19 Put Spreads (MBbls/d)1 35.7 45.5 38.3 37.9 42.4 45.7 6.7 6.6 Put Price (/Bbl) 51.23 50.96 51.74 51.09 49.52 49.55 50.00 50.00 Short Put Price (/Bbl)…

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