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2Q 2018 Earnings Presentation – Centennial Resources Development

Centennial Resources Development · Aug 6, 2018 · 14 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. 2Q 2018 Earnings Presentation – Centennial Resources Development – slide 1
    Core Oil Delaware Basin Pure-Play Second Quarter 2018 Earnings Presentation August 6, 2018
  2. 2Q 2018 Earnings Presentation – Centennial Resources Development – slide 2
    Centennial Resource Development Overview Q2 2018 Financial and Operational Highlights Asset Map Increased daily equivalent production 6% quarter-over-quarter and 94% Lea year-over-year Reported daily crude oil volumes in line with…
  3. 2Q 2018 Earnings Presentation – Centennial Resources Development – slide 3
    Q2 2018 Well Result Highlights Executing on the transition to pad development Well Productivity Review Cumulative Oil Production (Mbo) Pad Locator Map 45 Q2 2018: Average Extended Lateral1 Ninja Ward FY 2017 Q1 2018 Average…
  4. 2Q 2018 Earnings Presentation – Centennial Resources Development – slide 4
    CWI Long 3-Well Pad Review Most productive wells on CDEV acreage to date (First production: Week of June 24) Upper Wolfcamp A 3-well pad development with an average lateral length of 9,850 Pad Average IP-30 (Boe/d): 2,445 Boe/d (78%…
  5. 2Q 2018 Earnings Presentation – Centennial Resources Development – slide 5
    Continued 3rd Bone Spring Sand Execution Red Rock A Unit T09H and U04H Test Overview Cumulative Oil Production (Mbo) 40 Red Rock A Red Rock A Confirmation well in the 3rd Bone Spring Unit T09H Unit U04H Sand following the successful…
  6. 2Q 2018 Earnings Presentation – Centennial Resources Development – slide 6
    Crude and Natural Gas Takeaway & Infrastructure Review Firm transportation / firm sales agreements in place for both crude oil and natural gas production Essentially all Southern Delaware Basin crude oil production gathered on pipe…
  7. 2Q 2018 Earnings Presentation – Centennial Resources Development – slide 7
    Advantaged Southern Delaware Midstream Infrastructure Extensive oil gathering and gas gathering / processing infrastructure across CDEVs Reeves County acreage position Essentially all Southern Delaware Basin crude oil production…
  8. 2Q 2018 Earnings Presentation – Centennial Resources Development – slide 8
    Hedge Position Overview Hedge Portfolio Quarterly Review1 FY 2018 FY 2019 Q3 Q4 Bal 18 Q1 Q2 Q3 Q4 FY 2019 MidCush Basis Swaps Total Volume (Bbl) 828,000 828,000 1,656,000 540,000 91,000 1,380,000 920,000 2,931,000 Daily Volume…
  9. 2Q 2018 Earnings Presentation – Centennial Resources Development – slide 9
    Q2 2018 Financial Results Summary Financial summary (mm, unless otherwise noted) ( in millions, unless specified) Q2 2017 Q1 2018 Q2 2018 Oil Production (Bo/d) 17,435 31,573 31,271 Natural Gas Production (Mcf/d) 48,042 85,372…
  10. 2Q 2018 Earnings Presentation – Centennial Resources Development – slide 10
    Q2 2018 Capital Structure and Liquidity Overview Capital structure overview Capitalization and Liquidity ( mm)1 Maintaining conservative leverage profile As of Capitalization summary 6/30/2018 Net Debt / Total Book Capitalization…
  11. 2Q 2018 Earnings Presentation – Centennial Resources Development – slide 11
    Maintaining Low Leverage Profile Net Debt / Total Capitalization1 Net Debt / LQA EBITDAX1,2 47% 2.8x 30% 1.6x 1.4x 22% 20% 18% 18% 1.0x 0.8x 0.8x 11% 0.6x Peer 1 Peer 2 Peer 3 Peer 4 Peer 5 Peer 6 CDEV Peer 1…
  12. 2Q 2018 Earnings Presentation – Centennial Resources Development – slide 12
    2018 Guidance Summary Guidance summary FY 2018 Guidance Update Essentially all unit costs guided downward based on FY 2018 Guidance effective cost-control year-to-date Production Net Average Daily Production (Boe/d) 55,750 -…
  13. 2Q 2018 Earnings Presentation – Centennial Resources Development – slide 13
    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…
  14. 2Q 2018 Earnings Presentation – Centennial Resources Development – slide 14
    Reconciliation of Adjusted EBITDAX to Net Income Adjusted EBITDAX reconciliation ( thousands)1 Q2 2017 Q1 2018 Q2 2018 3 months ended 3 months ended 3 months ended Adjusted EBITDAX reconciliation to net income: June 30, 2017 March…

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