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Q3 2017 Presentation – Concho Resources, Inc.

Concho Resources, Inc. · Oct 31, 2017 · 17 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. Q3 2017 Presentation – Concho Resources, Inc. – slide 1
    Quarterly Update 3Q17 OCTOBER 31, 2017
  2. Q3 2017 Presentation – Concho Resources, Inc. – slide 2
    Third-Quarter 2017 Highlights Executing Near-Term Goals, Focusing on Long-Term Returns Quarterly production of 193.2 MBoepd (26% production growth year-over-year) 31% crude oil production growth year-over-year Initial large-scale…
  3. Q3 2017 Presentation – Concho Resources, Inc. – slide 3
    Track Record of Capital Discipline Spending within Cash Flow and Delivering Differentiated Growth Cash Flow vs. D&C Capital (bn) Performance Track Record Cash flow from Operations Drilling & Completion Capital1 Past performance…
  4. Q3 2017 Presentation – Concho Resources, Inc. – slide 4
    Strengthening Financial Position Fortified Balance Sheet Provides Significant Flexibility Long-Term Debt Profile (mm) Key Highlights CREDIT RATINGS 3,350 Investment grade credit ratings S&P: BBB- (Stable) Fitch: BBB- (Stable) 600…
  5. Q3 2017 Presentation – Concho Resources, Inc. – slide 5
    Large-Scale Project Development Maximizing Returns & Recoveries of High-Quality Resource New Mexico Shelf Benefits of Scaling Development Manufacturing Across the Portfolio: 1 Midland Accelerating innovation across asset base Key…
  6. Q3 2017 Presentation – Concho Resources, Inc. – slide 6
    Northern Delaware Basin Industry-Leading Exposure to Prolific Stacked Resource 380,000 gross Multi-Interval, Spacing Projects: (260,000 net) acres 1 Windward: 8-well, 2-mile lateral Avalon project, 660 12,000 Horizontal Drilling…
  7. Q3 2017 Presentation – Concho Resources, Inc. – slide 7
    Northern Delaware Basin: Red Hills Area Oil-Rich, Multi-Zone Development Long-Term Well Performance 440 LEA 400 Average per Well Cumulative Production (MBoe)1 360 Red Hills Area Viking Helmet 1H Wolfcamp 320 Sands avg.…
  8. Q3 2017 Presentation – Concho Resources, Inc. – slide 8
    Northern Delaware Basin: Deep Area Extending Multi-Zone Resource Activity Deep Area Long-Term Well Performance 640 LEA Mas Federal 4H Wolfcamp Sands avg. peak 90-day rate 2 of 1,212 Boepd (80% oil) and 560 2 3 4,392 lateral…
  9. Q3 2017 Presentation – Concho Resources, Inc. – slide 9
    Southern Delaware Basin Core Position in Rapidly Advancing Oil Play 160,000 gross Multi-Interval, Spacing Project: (100,000 net) acres 1 Brass Monkey: 8-well, 2-mile+ laterals targeting 3rd Bone Spring and 1,300 Horizontal Drilling…
  10. Q3 2017 Presentation – Concho Resources, Inc. – slide 10
    Midland Basin Building Momentum with Large-Scale Development Projects 270,000 gross 3Q17 Results (170,000 net) acres Added 7 Lower Spraberry horizontal wells (avg. lateral length MARTIN 4,000 Horizontal Drilling 1 10,106)…
  11. Q3 2017 Presentation – Concho Resources, Inc. – slide 11
    Key Messages Executing Clear, Cycle- Disciplined Capital Industry-Leading Scale Tested Strategy Allocation and Execution Hire the best Capital spending on Drive productivity gains high-return projects Develop the best asset base…
  12. Q3 2017 Presentation – Concho Resources, Inc. – slide 12
    Appendix
  13. Q3 2017 Presentation – Concho Resources, Inc. – slide 13
    Hedge Position 2017 2018 2019 Fourth First Second Third Fourth Total Total FY18 OIL HEDGES Oil Price Swaps1: Volume (Bbl) 10,216,080 9,133,629 8,146,170 7,471,318 6,972,007 31,723,124 23,759,500 86.9 MBopd Price per Bbl 51.33 51.54…
  14. Q3 2017 Presentation – Concho Resources, Inc. – slide 14
    2017 Operational & Financial Outlook 2017 Guidance 4Q17 GUIDANCE Production 200 204 MBoepd Annual growth 24% - 26% FY17 Tracking Above High End Oil mix 62% Price realizations, excluding commodity derivatives Crude oil…
  15. Q3 2017 Presentation – Concho Resources, Inc. – slide 15
    Reconciliation of Net Loss to Adjusted Net Income and Adjusted Earnings per Share (Unaudited) The Companys presentation of adjusted net income and adjusted earnings per share that exclude the effect of certain items are non-GAAP…
  16. Q3 2017 Presentation – Concho Resources, Inc. – slide 16
    Reconciliation of Net Loss to EBITDAX (Unaudited) EBITDAX (as defined below) is presented herein and reconciled from the GAAP measure of net loss because of its wide acceptance by the investment community as a financial indicator of a…
  17. Q3 2017 Presentation – Concho Resources, Inc. – slide 17
    Costs Incurred (Unaudited) The following table summarizes costs incurred for oil and natural gas producing activities for the periods indicated: (in millions) Three Months Ended September 30, June 30, March 31, December 31, September…

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