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1Q 2018 Earnings Presentation – Centennial Resources Development

Centennial Resources Development · May 8, 2018 · 12 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 – Centennial Resources Development – slide 1
    Core Oil Delaware Basin Pure-Play Q1 2018 Earnings Presentation May 8, 2018
  2. 1Q 2018 Earnings Presentation – Centennial Resources Development – slide 2
    Centennial 2018 Game Plan Grow net oil production 85% to 35,500 Bo/d Grow net oil production from 19,200 Bo/d in 2017 to 65,000 Bo/d in 2020 Maintain mid-cap industry leadership position regarding oil shale G&G and well completion…
  3. 1Q 2018 Earnings Presentation – Centennial Resources Development – slide 3
    Q1 2018 Financial and Operational Highlights Increased first quarter daily oil production 15% versus Q4 2017 to 31,573 Bo/d Grew oil and equivalent production volumes 201% and 193% year-over-year, respectively Announced strong…
  4. 1Q 2018 Earnings Presentation – Centennial Resources Development – slide 4
    Continuing to Deliver Strong Quarterly Results Production (Bo/d and Boe/d) Adjusted EBITDAX1 ( mm) Cash operating costs ( / Boe) 54,069 Net income2 Cash G&A3 Oil equivalent production (Boe/d) 161.6 Production / Ad Valorem Taxes Oil…
  5. 1Q 2018 Earnings Presentation – Centennial Resources Development – slide 5
    Q1 2018 Well Result Highlights Summary Results and Well Locator Juliet Fed Com 1H1 Sieber Trust B13H2 CDEV delivered positive results across its New Mexico Wolfcamp A Delineation Strong Wolfcamp B Result acreage position in multiple…
  6. 1Q 2018 Earnings Presentation – Centennial Resources Development – slide 6
    Advantaged Southern Delaware Midstream Infrastructure Oil Infrastructure Gas Infrastructure Extensive oil gathering infrastructure across CDEVs Reeves County Significant gas gathering / processing infrastructure across CDEVs acreage…
  7. 1Q 2018 Earnings Presentation – Centennial Resources Development – slide 7
    Unhedged Oil: Driving Realization Benefits Centennial remains 100% unhedged on crude oil pricing, offering full exposure to the recent price uplift and future upside Centennial has 10,000 Bbl/d of Midland-Cushing Basis differential…
  8. 1Q 2018 Earnings Presentation – Centennial Resources Development – slide 8
    Q1 2018 Financial Results Financial summary (mm, unless otherwise noted)1 ( in millions, unless specified) Q1 2017 Q4 2017 Q1 2018 Average Daily Production (Boe/d) 18,469 44,304 54,069 Average Daily Oil Production (Bo/d) 10,489…
  9. 1Q 2018 Earnings Presentation – Centennial Resources Development – slide 9
    Capital Structure and Liquidity Overview Capital structure overview Capitalization and Liquidity ( mm)1 Conservative leverage profile Capitalization summary As of Net Debt / Q1 annualized EBITDAX of 0.6x 3/31/2018 Net Debt / Total…
  10. 1Q 2018 Earnings Presentation – Centennial Resources Development – slide 10
    Low Leverage Profile Net Debt / Total Capitalization1 Net Debt / LQA EBITDAX1,2 44% 2.0x 1.6x 27% 1.4x 22% 1.1x 19% 18% 0.8x 11% 0.6x 10% 0.5x Peer 1 Peer 2 Peer 3 Peer 4 Peer 5 Peer 6 CDEV Peer 1 Peer…
  11. 1Q 2018 Earnings Presentation – Centennial Resources Development – slide 11
    Hedge Position Overview Centennial Hedge Position Centennial recently executed additional hedges for 2018 2019 Mid-Cush basis differentials, Waha basis differentials (Remainder)1 and Henry Hub Fixed price swaps - Crude Oil Crude…
  12. 1Q 2018 Earnings Presentation – Centennial Resources Development – slide 12
    Reconciliation of Adjusted EBITDAX to Net Income Adjusted EBITDAX reconciliation ( thousands)1 Q1 2017 Q4 2017 Q1 2018 3 months ended 3 months ended 3 months ended Adjusted EBITDAX reconciliation to net income: March 31, 2017…

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