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Scotia Howard Weil 2018 Energy Conference – RSP Permian Inc.

RSP Permian Inc. · Mar 26, 2018 · 34 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. Scotia Howard Weil 2018 Energy Conference – RSP Permian Inc. – slide 1
    SCOTIA HOWARD WEIL 2018 ENERGY CONFERENCE March 26, 2018
  2. Scotia Howard Weil 2018 Energy Conference – RSP Permian Inc. – slide 2
    RSP PERMIAN INVESTMENT OPPORTUNITY UNMATCHED CORE LOW CORPORATE COST ACREAGE POSITION IN STRUCTURE AND DEPTH BOTH THE MIDLAND OF OPERATIONAL AND DELAWARE BASINS EXPERIENCE 3
  3. Scotia Howard Weil 2018 Energy Conference – RSP Permian Inc. – slide 3
    RSP PERMIAN OVERVIEW RSP OVERVIEW CONTIGUOUS ACREAGE POSITION IN CORE OF PERMIAN BASIN 92,000 net acres across highly contiguous acreage blocks in the core of the Midland and Delaware Basins 6,000 net royalty acres in the Delaware…
  4. Scotia Howard Weil 2018 Energy Conference – RSP Permian Inc. – slide 4
    2017 MAINTAINED FOCUS ON SHAREHOLDER RETURNS AND STRENGTHENING OUR BALANCE SHEET DURING A PERIOD OF TRANSFORMATIONAL GROWTH 2016 2017 SUPERIOR DEBT-ADJUSTED PRODUCTION GROWTH (4) Production 300% 29.2 89% 55.3 (MBoe/d) Proved…
  5. Scotia Howard Weil 2018 Energy Conference – RSP Permian Inc. – slide 5
    2017 WELL PRODUCTIVITY UNDERSCORES ASSET QUALITY 120 Excellent results with 6-Month Oil IPs per 1k Foot (Bo/d) 100 continued improvement across breadth of 80 position 60 Notably, results include CONTINUED LEADERSHIP IN 40…
  6. Scotia Howard Weil 2018 Energy Conference – RSP Permian Inc. – slide 6
    THE 200 CLUB RSP WELLS WITH IP30 200 BOE/D PER 1,000 FT 450 Over 50 RSP wells with IP30 200 Boe/d per 1,000 400 Distribution 50% Midland / 50% Delaware, across 9 different reservoirs 350 IP30 / 1,000 (Boe/d) 300 250 200…
  7. Scotia Howard Weil 2018 Energy Conference – RSP Permian Inc. – slide 7
    2018 FOCUSED CAPITAL PROGRAM 2018E CAPEX SUMMARY 2018 PLANNED DRILLING LOCATIONS BY ZONE Other BS D&C: 725 - 785 MM WB Delaware 4% Infra & Other: 90 - 110 MM Midland Total Development: 815 - 895 MM XY WA 39% 60% Delaware D&C…
  8. Scotia Howard Weil 2018 Energy Conference – RSP Permian Inc. – slide 8
    2018 DUC BACKLOG SPRING-LOADS PRODUCTION TRAJECTORY 36 drilled but uncompleted wells (DUCs) carried over from 2017 to 2018 Ability to capture lower expected average completion cost in 2018 Results in YoY improvement in capital…
  9. Scotia Howard Weil 2018 Energy Conference – RSP Permian Inc. – slide 9
    FULL YEAR 2018 GUIDANCE FULL YEAR 2018 GUIDANCE SUMMARY COMMENTARY 2018 Guidance Range 7 operated rigs currently (3 Midland, 4 Delaware) Production Avg. Daily Production (Boe/d) 72,000 - 78,000 8th rig expected to arrive in April…
  10. Scotia Howard Weil 2018 Energy Conference – RSP Permian Inc. – slide 10
    CORPORATE GOALS: 2018 & BEYOND 2019- 2018 2021+ 2020 35% production growth 30%+ production growth Continue measured at midpoint acceleration…
  11. Scotia Howard Weil 2018 Energy Conference – RSP Permian Inc. – slide 11
    MIDLAND BASIN MIDDLE SPRABERRY UPDATE MIDDLE SPRABERRY ACTIVITY MIDDLE SPRABERRY PRODUCTION (CUML MBOE) 180 First MS well completed with LL: 7,000' 160 modern frac design 140 120 Cuml. MBoe 100 80 60 40…
  12. Scotia Howard Weil 2018 Energy Conference – RSP Permian Inc. – slide 12
    DELAWARE BASIN CORE A/XY UPDATE RSP Delaware Basin A / XY wells completed with modern frac design (8+ clusters / stage, 1,800 lbs / ft) outperforming 1.5 MMBoe benchmark curve (200 MBoe/ft) DELAWARE BASIN CORE A/XY PERFORMANCE…
  13. Scotia Howard Weil 2018 Energy Conference – RSP Permian Inc. – slide 13
    DELAWARE BASIN BRUNSON D 3-WELL PAD UPDATE BRUNSON D LOCATOR MAP BRUNSON D 3-WELL PAD PRODUCTION (BOE/D) 10,000 Brunson D 3-Well Pad Current: 5,855 Boe/d (66% oil) 1,000 Wells shut Boe/d in 2/9/18 Lateral IP24 / 100…
  14. Scotia Howard Weil 2018 Energy Conference – RSP Permian Inc. – slide 14
    DELAWARE BASIN THIRD BONE SPRING ACTIVITY 3RD BONE SPRING PRODUCTION (CUML MBOE) 180 160 140 120 Cuml. MBoe 100 80 60 40 20 0 0 30 60 90 120 150 RSP Completions Days Earlier Vintage 3rd Bone Spring Wells (6…
  15. Scotia Howard Weil 2018 Energy Conference – RSP Permian Inc. – slide 15
    FOUNDATION IN PLACE, POSITIONED TO EXECUTE RSP WELL-POSITIONED FOR STRONG EXECUTION LOW COST STRUCTURE INDUSTRY LEADING WELL RESULTS & DECADES OF TIER I INVENTORY INFRASTRUCTURE & ORGANIZATIONAL PLATFORM IN…
  16. Scotia Howard Weil 2018 Energy Conference – RSP Permian Inc. – slide 16
    APPENDIX
  17. Scotia Howard Weil 2018 Energy Conference – RSP Permian Inc. – slide 17
    STRONG FINANCIAL POSITION WITH AMPLE LIQUIDITY During Fall 2017 redetermination, increased borrowing base CAPITALIZATION TABLE to 1.5 B from 1.1 B, reiterated 900 MM Company-elected commitment under the amended and restated credit…
  18. Scotia Howard Weil 2018 Energy Conference – RSP Permian Inc. – slide 18
    ACTIVELY BUILDING HEDGE POSITION INTO 2018 AND 2019 60% of 2018 estimated oil volumes hedged, based on midpoint of guidance Protecting 48 floor in 2018 and 54 floor in 2019, on average HEDGE CONTRACT DETAIL Crude Oil (Bbl, /Bbl)…
  19. Scotia Howard Weil 2018 Energy Conference – RSP Permian Inc. – slide 19
    4Q17 AND FY17 FINANCIAL RESULTS 4Q17 4Q16 FY 17 FY 16 4Q17 4Q16 FY 17 FY 16 Avg. Daily Production Cash Op. Exp. (/Boe) Oil (MBbl/d) 44.3 25.4 39.6 21.3 LOE 5.25 4.41 5.13 4.93 Gas (MMcf/d) 45.8 24.8 41.4 19.6 G&T 0.89 0.57 0.96…
  20. Scotia Howard Weil 2018 Energy Conference – RSP Permian Inc. – slide 20
    ADJUSTED EBITDAX AND ADJUSTED NET INCOME RECONCILIATION Reconciliation of Net Income (Loss) to Adjusted EBITDAX Three Months Ended Twelve Months Ended (in thousands) December 31, 2017 September 30, 2017 December 31, 2016 December 31,…
  21. Scotia Howard Weil 2018 Energy Conference – RSP Permian Inc. – slide 21
    2017 TOP WELLS 2017 - TOP 10 MIDLAND WELLS 2017 - TOP 10 DELAWARE WELLS 9 9 1 76 8 1 8 10 52 34 7 10 45 23 6 Lateral IP30 / Lateral IP30 / Frac Length 1,000 Frac Length 1,000 Well Name Month Zone (Feet) (Boe/d) %…
  22. Scotia Howard Weil 2018 Energy Conference – RSP Permian Inc. – slide 22
    MIDLAND BASIN POSITION 46,700 CONTIGUOUS FOOTPRINT + STACKED RESOURCE net acres 1,600 net drilling locations(1) 1.0 BBoe Total Resource Potential(1) 3,400 (1) Based on base case well spacing. 23
  23. Scotia Howard Weil 2018 Energy Conference – RSP Permian Inc. – slide 23
    MIDLAND BASIN INVENTORY CURRENT BASE SPACING ASSUMPTIONS Numerous spacing pilots ongoing Ector Mid./Mar./Andr. Glasscock Formation Avg. Avg. Avg. Increased proportion of longer lateral wells in Wells/Section Wells/Section…
  24. Scotia Howard Weil 2018 Energy Conference – RSP Permian Inc. – slide 24
    MIDLAND BASIN WELLS CONTINUE TO EXCEL MIDLAND BASIN WELL PERFORMANCE BY VINTAGE (ALL OPERATED WELLS) 250 Avg. LL: 8,600' 200 Avg. LL: 7,100' 150 Cuml. MBoe Avg. LL: 7,400' AVG. WELL SPACING (FEET) FIRST…
  25. Scotia Howard Weil 2018 Energy Conference – RSP Permian Inc. – slide 25
    MIDLAND BASIN: MAXIMIZING ASSET VALUE IN WOLCAMP A RSPP began drilling Wolfcamp A target in 2014 when other operators were focused on Wolfcamp B Wolfcamp A development has now increased to 8 wells per section in some areas with…
  26. Scotia Howard Weil 2018 Energy Conference – RSP Permian Inc. – slide 26
    MIDLAND BASIN: STACKED DEVELOPMENT EXCEEDING EXPECTATIONS SPANISH TRAIL SECTION 47 (MIDLAND COUNTY) CALVERLEY SECTION 9 (GLASSCOCK COUNTY) 350 300 300 250 250 200 Cuml. MBoe Cuml. MBoe 200 150 150 100 100 Weighted…
  27. Scotia Howard Weil 2018 Energy Conference – RSP Permian Inc. – slide 27
    MIDLAND BASIN BASE CASE WELL SPACING ILLUSTRATION MIDLAND MARTIN / ANDREWS 560 Middle Middle Spraberry 560 Spraberry 75 Jo Mill 75 Jo Mill 410 Lower Lower Spraberry 330 Spraberry 180 Dean 175 Dean 235 Wolfcamp Wolfcamp A…
  28. Scotia Howard Weil 2018 Energy Conference – RSP Permian Inc. – slide 28
    DELAWARE BASIN POSITION 45,200 CONTIGUOUS FOOTPRINT + STACKED RESOURCE net leasehold acres 6,000 net royalty acres(1) 2,380 net drilling locations(2) 1.8 BBoe Total 5,700 Resource Potential(2) (1) Net royalty acre defined…
  29. Scotia Howard Weil 2018 Energy Conference – RSP Permian Inc. – slide 29
    DELAWARE BASIN INVENTORY CURRENT SPACING ASSUMPTIONS Early stage in determining optimal spacing patterns Base Spacing (Avg. Wells/Section) Significant upside to inventory pending results from: Formation West / Central East Avalon 8 6…
  30. Scotia Howard Weil 2018 Energy Conference – RSP Permian Inc. – slide 30
    DELAWARE BASIN: WOLFCAMP XY SAND ACTIVITY RSP Completions 31
  31. Scotia Howard Weil 2018 Energy Conference – RSP Permian Inc. – slide 31
    DELAWARE BASIN: WOLFCAMP A ACTIVITY RSP Completions 32
  32. Scotia Howard Weil 2018 Energy Conference – RSP Permian Inc. – slide 32
    DELAWARE BASIN: WOLFCAMP B ACTIVITY RSP Completions 33
  33. Scotia Howard Weil 2018 Energy Conference – RSP Permian Inc. – slide 33
    DELAWARE BASIN BASE CASE WELL SPACING ILLUSTRATION WEST & CENTRAL(1) 1000 Avalon 600 1st Bone 1000 2nd Bone 300 3rd Bone XY 500 Wolfcamp A Wolfcamp 400 B 1 mile EAST 1000 Avalon 600 1st Bone…
  34. Scotia Howard Weil 2018 Energy Conference – RSP Permian Inc. – slide 34
    ADDITIONAL DISCLOSURES Supplemental Non-GAAP Financial Measures The Company defines Adjusted EBITDAX as oil and gas revenues including net cash receipts (payments) on settled derivative instruments and premiums paid on put options that…

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