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1Q 2018 Earnings Presentation – Parsley Energy Inc.

Parsley Energy Inc. · May 3, 2018 · 19 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. 1Q 2018 Earnings Presentation – Parsley Energy Inc. – slide 1
    INVESTOR PRESENTATION 1Q 2018
  2. 1Q 2018 Earnings Presentation – Parsley Energy Inc. – slide 2
    Parsley Energy Overview Premier Permian Pure-Play Parsley Leasehold Superior acreage portfolio Parsley Energy Leasehold Midland Basin Premier combination of acreage quality and quantity ANDREWS MARTIN Large, concentrated…
  3. 1Q 2018 Earnings Presentation – Parsley Energy Inc. – slide 3
    1Q18 Update: Executing on Simplified Development Plan Company-record operating cash margin Value-Creating Production Growth percentage as marketing advantages, 60 600 59.3 MBo/d operating cost compression, and scale benefits flow…
  4. 1Q 2018 Earnings Presentation – Parsley Energy Inc. – slide 4
    Set Up For Sustained Success Strong 1Q18 results reflective of ongoing development plan Midland 18 9 PE 1Q18 Pads Basin 1Q18 PE Operated Rigs(1) 16 8 PE Leasehold MARTIN 14 7 ANDREWS HOWARD LEA 12 6 1Q18 Frac Crews…
  5. 1Q 2018 Earnings Presentation – Parsley Energy Inc. – slide 5
    Advantaged Takeaway Positioning Flow Assurance Marketing strategy centered around two guiding principles: dependability and diversification Oil Takeaway Advantages Flexible Access to Key Downstream Markets Parsley Oil Gathering…
  6. 1Q 2018 Earnings Presentation – Parsley Energy Inc. – slide 6
    Advantaged Takeaway Positioning Diversified Pricing Marketing strategy centered around two guiding principles: dependability and diversification Exposure to Multiple Pricing Points(1) Leading Oil Price Realization(2) 54…
  7. 1Q 2018 Earnings Presentation – Parsley Energy Inc. – slide 7
    Delaware Spotlight - Operations Delaware Basin oil production up more than 50% Q/Q on Drilling Efficiency Gains improving productivity and efficiency trends 700 Two new Parsley-record Delaware Basin wells in southeast +32% portion…
  8. 1Q 2018 Earnings Presentation – Parsley Energy Inc. – slide 8
    Delaware Spotlight Enhanced Economics Mineral ownership amplifies Delaware production at no Delaware Mineral Interests Boost Returns additional cost More than doubled production associated with Delaware WARD minerals in 1Q18 Ample…
  9. 1Q 2018 Earnings Presentation – Parsley Energy Inc. – slide 9
    Guidance Summary Production 2018E 2018 Guidance Highlights Annual Net Oil Production (MBo/d) 65 70 2018 organic oil growth of 50% YoY at midpoint Annual Net Total Production (MBoe/d)(1) 98 108 Steady development pace of approximately…
  10. 1Q 2018 Earnings Presentation – Parsley Energy Inc. – slide 10
    Strong, Flexible Financial Position Peer-leading(1) liquidity of 1.5 billion(2) Ample Borrowing Capacity(3) provides ample flexibility to fund efficient 2,500 growth 2,000 Borrowing Base (MM) Borrowing base quadrupled in last…
  11. 1Q 2018 Earnings Presentation – Parsley Energy Inc. – slide 11
    Investment Highlights SUPPLEMENTARY SLIDES 12 12
  12. 1Q 2018 Earnings Presentation – Parsley Energy Inc. – slide 12
    Expansive, High-quality Drilling Inventory Extensive inventory of premium drilling locations Horizontal Drilling Inventory(1) provides visibility to years of high-return production growth WELLS PER GROSS NET SECTION Development…
  13. 1Q 2018 Earnings Presentation – Parsley Energy Inc. – slide 13
    Top-Tier Capital Efficiency Operating Margin (/Boe)(1) Recycle Ratio(2) 40 4.0 Parsley Energy 35 Parsley Energy 30 3.0 25 20 2.0 15 10 1.0 5 0 - Oily E&P Companies Gassy E&P Companies Oily E&P Companies Gassy E&P…
  14. 1Q 2018 Earnings Presentation – Parsley Energy Inc. – slide 14
    Consistently Efficient Reserve Growth YE17 proved reserves up 87% Y/Y (oil up 82% Y/Y) Three-year proved reserve CAGR of 66% Organic reserves replacement ratio of 683%(1) Positive performance revisions of 4.5 MMBo to oil PDP reserves…
  15. 1Q 2018 Earnings Presentation – Parsley Energy Inc. – slide 15
    Robust Organic Value Creation Parsleys portfolio of highly economic development projects allows it to employ incremental capital at high rates of return Growth in proved developed reserve value (PD Value) translated to 70%(1) return on…
  16. 1Q 2018 Earnings Presentation – Parsley Energy Inc. – slide 16
    Reference Curves Imply Compelling Economics Midland Basin Oil Curve(1) Estimated Midland Basin Well Payout Period(2) 500 100% 2.5 Gross Cumulative Oil Production % Oil of 3-Stream Processed 400 90% 2.0 Payout (Years)…
  17. 1Q 2018 Earnings Presentation – Parsley Energy Inc. – slide 17
    Substantial Oil Hedge Position 2Q18 3Q18 4Q18 1Q19 2Q19 3Q19 4Q19 Put Spreads (MBbls/d)(1) 11.5 34.2 37.5 20.6 20.3 11.4 11.4 Long Put Price (/Bbl) 52.50 49.64 49.67 54.32 54.32 55.71 55.71 Short Put Price (/Bbl) 42.50 39.64 39.67…
  18. 1Q 2018 Earnings Presentation – Parsley Energy Inc. – slide 18
    Adjusted EBITDAX Reconciliation Three Months Ended March 31, Unaudited, in thousands Adjusted EBITDAX reconciliation to net income: 2018 2017 Net income attributable to Parsley Energy, Inc. stockholders 82,890 29,442 Net income…
  19. 1Q 2018 Earnings Presentation – Parsley Energy Inc. – slide 19
    Impact of ASC 606 Adoption Three Months Ended March 31, 2018 ASC 605 Adjustment ASC 606 Production revenues (in thousands): Oil sales 331,103 -- 331,103 Natural gas sales 15,586 1,838 17,424 Natural gas liquids sales 36,191 4,429…

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