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2Q 2018 Investor Presentation – Parsley Energy Inc.

Parsley Energy Inc. · Aug 7, 2018 · 21 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 Investor Presentation – Parsley Energy Inc. – slide 1
    INVESTOR PRESENTATION 2Q 2018
  2. 2Q 2018 Investor Presentation – Parsley Energy Inc. – slide 2
    Parsley Energy Overview Premier Permian Pure-Play Parsley Leasehold Parsley Energy Acreage(5) Superior acreage portfolio Midland Basin ANDREWS MARTIN Advantaged marketing position LEA HOWARD Track record of efficient…
  3. 2Q 2018 Investor Presentation – Parsley Energy Inc. – slide 3
    Achieving Scale in Record Time Fastest to 100 MBoe/d Parsley 100 Net Production (MBoe/d) 80 60 40 No oil-focused E&P has grown production from 10 to 100 MBoe/d faster than Parsley Energy(1) 20 16% compound quarterly…
  4. 2Q 2018 Investor Presentation – Parsley Energy Inc. – slide 4
    Best-in-Class Reinvestment Runway Parsley Energy Acreage Durable, high quality inventory Midland Parsley Operated Rigs(1) yields long reinvestment runway Basin MARTIN % of Dev Inventory Drilled % of Dev Inventory Remaining Robust…
  5. 2Q 2018 Investor Presentation – Parsley Energy Inc. – slide 5
    Executing Across the Business Delivering more net wells and higher oil production with efficient development program Net POPs Trending Higher Development Execution 180 Cumulative Net Operated POPs More Gross POPs(1) FY18 POP…
  6. 2Q 2018 Investor Presentation – Parsley Energy Inc. – slide 6
    Operational Momentum on Optimized Footprint Development Execution - Positive Efficiency Trends Asset Execution Solidifying the Core Trades, bolt-ons, and buy-outs block up core 1,200 operated footprint, enhancing capital efficiency…
  7. 2Q 2018 Investor Presentation – Parsley Energy Inc. – slide 7
    Foundations of Advantaged Marketing Position Early-Mover Gathering Contracts Attractive Barrel Advantaged Takeaway Flow Assurance Robust Historical and Projected Ample takeaway capacity and unrestrictive volume Volume Growth…
  8. 2Q 2018 Investor Presentation – Parsley Energy Inc. – slide 8
    Incremental Flow Assurance Marketing strategy centered around two guiding principles: dependability and diversification Legacy transportation agreements secured foundational takeaway capacity of 95 MBo/d Incremental agreements, if all…
  9. 2Q 2018 Investor Presentation – Parsley Energy Inc. – slide 9
    Pricing Insulation Marketing strategy centered around two guiding principles: dependability and diversification Proactive oil price diversification translated to peer- Leading Oil Price Realization(1) leading realizations during 2Q18…
  10. 2Q 2018 Investor Presentation – Parsley Energy Inc. – slide 10
    Operational Spotlight Glasscock County Growing portfolio of well results across Glasscock acreage Favorable Glasscock Operational Efficiency Trends confirms Glasscock County asset quality 1,500 1,000 2Q18 completion activity weighted…
  11. 2Q 2018 Investor Presentation – Parsley Energy Inc. – slide 11
    Extracting More Value per Barrel Retaining almost 80% of robust realized price as Peer-leading LOE Trend(2) marketing advantages, operating cost compression, and scale benefits flow through 8.50 8.00 Resumed downward Company-Record…
  12. 2Q 2018 Investor Presentation – Parsley Energy Inc. – slide 12
    Updated Guidance Summary Production 2018E (Prior) 2018E (Updated) 2018 Guidance Highlights Annual Net Oil Production (MBo/d) 65 - 70 68.0 - 70.5 Annual Net Production (MBoe/d)(1) 98 - 108 106 - 111 Strong execution on simplified…
  13. 2Q 2018 Investor Presentation – Parsley Energy Inc. – slide 13
    Strong, Flexible Financial Position Peer-leading(1) liquidity of 1.3 billion(2) provides ample flexibility to fund efficient growth Favorable debt maturity schedule with earliest notes maturity in 2024 Weighted average cost of…
  14. 2Q 2018 Investor Presentation – Parsley Energy Inc. – slide 14
    Investment Highlights SUPPLEMENTARY SLIDES 15 15
  15. 2Q 2018 Investor Presentation – Parsley Energy Inc. – slide 15
    Oil Hedge Position Open Crude Oil Derivatives Positions Hedge structure retains upside to 3Q18 4Q18 1Q19 2Q19 3Q19 4Q19 higher oil prices Put Spreads WTI (MBbls/d)(1) 34.2 37.5 20.0 19.8 24.5 24.5 Long Put Price (/Bbl) 49.64 49.67…
  16. 2Q 2018 Investor Presentation – Parsley Energy Inc. – slide 16
    Top-Tier Capital Efficiency Operating Margin (/Boe)(1) Recycle Ratio(2) 45 4.0 Parsley Energy 40 Parsley Energy 35 3.0 30 25 2.0 20 15 1.0 10 5 0 0.0 Oil-focused E&P Companies Gas-focused E&P Companies Oil-focused…
  17. 2Q 2018 Investor Presentation – Parsley Energy Inc. – slide 17
    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…
  18. 2Q 2018 Investor Presentation – Parsley Energy Inc. – slide 18
    Reference Curves Imply Compelling Economics Midland Basin Oil Curve(1) Estimated Midland Basin Well Payout Period(2) 500 100% 2.5 Gross Cumulative Oil % Oil of 3-Stream Processed 400 90% Production (MBo) 2.0 Payout…
  19. 2Q 2018 Investor Presentation – Parsley Energy Inc. – slide 19
    Adjusted EBITDAX Reconciliation Three Months Ended June 30, Six Months Ended June 30, Unaudited, in thousands Adjusted EBITDAX reconciliation to net income: 2018 2017 2018 2017 Net income attributable to Parsley Energy, Inc.…
  20. 2Q 2018 Investor Presentation – Parsley Energy Inc. – slide 20
    Operating Cash Margin Reconciliation Three Months Ended June 30, Six Months Ended June 30, in thousands 2018 2017 2018 2017 Net income attributable to Parsley Energy, Inc. stockholders 119,155 40,746 202,045 70,188 Net income…
  21. 2Q 2018 Investor Presentation – Parsley Energy Inc. – slide 21
    Impact of ASC 606 Adoption Three Months Ended June 30, 2018 ASC 605 Adjustment ASC 606 Production revenues (in thousands): Oil sales 396,325 -- 396,325 Natural gas sales 11,094 1,141 12,235 Natural gas liquids sales 51,945 5,330…

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