Core Oil Delaware Basin Pure-Play Third Quarter 2017 Earnings Presentation November 6, 2017
Centennial Q3 2017 highlights Reported Q3 2017 daily production of 34,700 Boe/d and 21,108 Bo/d Represents an increase of 17% and 21%, respectively, compared to Q2 2017 Increased oil commodity mix to 61% in Q3, up from 59% in Q2…
Industry leading well results in Reeves County CDEV / offset operator Reeves County well results (IP-30 Bo/d / 1,000) Centennial Reeves County well locator map Matador 6-33 3H 375 Russell 6H 359 Single section laterals…
Q3 2017 Well Result Highlights Single section laterals Matador 6-33 3H CH Knight 6H Romeo 1H Strong initial New Mexico well result Matador well is CDEVs best well to-date Strong results from Arroyo area outperforming YTD 2017…
Q3 2017 Well Result Highlights Extended laterals Eady A 4 59-60 1H & Eady B 4 59-60 2H Roadrunner 5H, Brooks 3H & Brooks 4H In-basin proppant outperformance Solid results from Q3 two-section laterals 90 90 80 80 Cum. oil…
Completion design evolution improving production Q3 cum. oil production for single section laterals…
In-basin proppant provides meaningful cost savings Overview Performance of first wells utilizing in-basin proppant Centennial has entered into a long-term proppant supply agreement with a 45 local sand provider 2017 YTD average…
Operational execution driving financial results Production Cash flow / capital expenditures Oil production (Bo/d) Oil equivalent production (Boe/d) Adjusted EBITDAX1 ( mm) D&C capex incurred ( mm) % oil of total production 74.3…
Superior leverage profile provides operational flexibility Net Debt / Total Capitalization1 Net Debt / 2017E EBITDAX1 2.2x 62% 2.0x 1.5x 1.5x 1.3x 1.3x 24% 1.2x 22% 21% 19% 17% 16% 0.6x 5% 0% 0.0x Peer…
Liquidity supported by borrowing base growth Liquidity summary ( mm)1 Borrowing base increases driven primarily by organic Liquidity profile production growth (9/30/17 balance sheet) Borrowing base 575 Fall 2017 redetermination…
Revised 2017 Guidance Summary Guidance summary Updated FY 2017 guidance Updated Production guidance increased slightly 2017 FY Guidance 2017 FY Guidance Net Average Daily Production (Boe/d) 27,350 - 31,650 27,850 - 32,150 200…
Q3 2017 Financial Results Financial summary (mm, unless otherwise noted)1 ( in millions, unless specified) Q1 2017 Q2 2017 Q3 2017 Average Daily Production (Boe/d) 18,469 29,664 34,700 Average Daily Oil Production (Bo/d) 10,489…
Centennial Resource Development Overview Core Delaware Basin Pure-Play Increased Q3 2017 average daily oil production volumes by 21% compared to Q2 2017; average daily oil equivalent volumes up 17% Q3 2017 highlights Increased…
Reconciliation of Adjusted EBITDAX to Net Income Adjusted EBITDAX reconciliation ( thousands)1 Q1 2017 Q2 2017 Q3 2017 For the three months ended For the three months ended For the three months ended Adjusted EBITDAX reconciliation…
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