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August 2018 Corporate Presentation – WildHorse Resource Development

WildHorse Resource Development · Aug 8, 2018 · 27 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. August 2018 Corporate Presentation – WildHorse Resource Development – slide 1
    FOCUSED Creating value through operational excellence Company Presentation August 2018
  2. August 2018 Corporate Presentation – WildHorse Resource Development – slide 2
    Premier Pure-Play Eagle Ford Oil Producer Strong Investment Thesis Premier Eagle Ford Acreage Position Eagle Ford Acreage(1) Large Position in Eagle Ford Oil Window 404,000 net acres 3,200 net locations Emerging Austin Chalk…
  3. August 2018 Corporate Presentation – WildHorse Resource Development – slide 3
    WRD Among Largest Eagle Ford Operators Operator Acreage Positions(1) Net Acreage Positions(1) Eagle Ford Shale (000s Acres) Oil Wet Gas/Condensate EOG Resources 520 Dry Gas (2) BP 431 WildHorse 404 Magnolia 359 Sanchez 286…
  4. August 2018 Corporate Presentation – WildHorse Resource Development – slide 4
    Returns Focused Strategy Deliver Profitable Prudently delineate large, contiguous acreage position Growth and Value Develop emerging Austin Chalk play and other zones Creation Continue successful acquisition strategy at attractive…
  5. August 2018 Corporate Presentation – WildHorse Resource Development – slide 5
    Creating Value Through Results Driven Execution 2018 Objectives Recent Highlights Complete North Louisiana divestiture Closed divestiture March 2018 Brought online 47 gross Eagle Ford wells Further delineate Eagle Ford position…
  6. August 2018 Corporate Presentation – WildHorse Resource Development – slide 6
    Controlling Our Destiny Developing In-Field Sand Mine Overview In-Field Location Reduces Costs Annual capacity of 2.0 MM tons WRD 2018 sand demand of 1.2 MM tons 40 years of reserves at current pace Grain and mesh consistent…
  7. August 2018 Corporate Presentation – WildHorse Resource Development – slide 7
    Midstream, Vendor Services, Water and Infrastructure Overview Significant Midstream & Vendor Infrastructure Optionality Around Takeaway Capacity Multiple vendors with limited long-term contracts for key services provides flexibility…
  8. August 2018 Corporate Presentation – WildHorse Resource Development – slide 8
    WRD Eagle Ford Has Advantaged Oil Pricing Gulf Coast Offers Superior Realizations Q218 Comparative Basin Differentials(2) Advantaged pricing due to proximity to (7.27) Gulf Coast and superior markets WRD Premium to: Bakken Bakken…
  9. August 2018 Corporate Presentation – WildHorse Resource Development – slide 9
    Cash Margin: WRD Eagle Ford vs. Competing Basins(1) (Q218) /Boe 70.00 68.20 67.88 67.88 67.88 67.88 67.88 Q2 2018 Avg. WTI Price 60.00 13.47 15.46 17.09 23.94 26.00 1.20 2.76 50.00 2.96 6.95 Commodity Mix 4.38 5.92 0.96…
  10. August 2018 Corporate Presentation – WildHorse Resource Development – slide 10
    Large Eagle Ford Position Reflects Opportunistic Consolidation Strategy 1st CWEI and Comstock SM Energy January 2015 Multiple Acquisitions Sept 2015(1) 2nd CWEI December 2015 June/July 2015 Previous Position Previous Position…
  11. August 2018 Corporate Presentation – WildHorse Resource Development – slide 11
    Delineation Results Continue to be Excellent Eagle Ford producing Horizontal Well Activity(1) Ascari B 1H Wilde EF 1H / Teal EF 1H(4) wells exist across entire EUR: 110 Boe/Ft EUR: 91 Boe/Ft IP30 = 711 Boe/d (91% oil) IP30 = 602…
  12. August 2018 Corporate Presentation – WildHorse Resource Development – slide 12
    WRD Eagle Ford Acreage Has Attractive Reservoir Properties Geology Overview Eagle Ford Maturity Window Gross Lower Eagle Ford thickness ranges from 50 to 100 across the acreage position Geosteering focusing on the high…
  13. August 2018 Corporate Presentation – WildHorse Resource Development – slide 13
    WRD Well Economics Eagle Ford Type Curve Austin Chalk Type Curve IP-30 (Bbl/d) 621 IP-30 (Bbl/d) 126 Oil Oil Oil EUR (MBbl) 508 Oil EUR (MBbl) 123 IP-30 (Mcf/d) 480 IP-30 (Mcf/d) 6,740 Gas Gas Gas EUR (MMcf) 234 Gas…
  14. August 2018 Corporate Presentation – WildHorse Resource Development – slide 14
    Eagle Ford 2017 Proved Reserve Growth Reserves Overview Proved Reserves Breakout 2017 Proved Reserves 2017 Proved Reserves PV-10(1) of proved reserves increased by 412% to 12% 3.2 billion at YE 2017 Oil 86 15% PD 268% increase in…
  15. August 2018 Corporate Presentation – WildHorse Resource Development – slide 15
    Strong Balance Sheet and Liquidity Position Financial Highlights Capitalization & Liquidity 6/30/2018 - MM Ample liquidity of over 800 million in cash and WRD Revolving Credit Facility Drawn 249 6.875% Senior Notes(1) 700 undrawn…
  16. August 2018 Corporate Presentation – WildHorse Resource Development – slide 16
    Industry-Leading Metrics at an Attractive Valuation Debt Adjusted Production Growth 17-18E(1) 2018E ROCE(2) 15% 60% 50% 40% 10% Peer avg 27% Peer avg 7% 30% 20% 5% 10% 0% 0% SRCI WRD CRZO LPI SN OAS WPX WLL QEP 2019…
  17. August 2018 Corporate Presentation – WildHorse Resource Development – slide 17
    Full Year 2018 Guidance (as of February 12, 2018) FY 2018 Guidance Low High Net Average Daily Production (Mboe/d) 46 49 Oil (Mbbls/d) 31 35 Natural Gas (MMcf/d) 45 55 NGLs (Mbbls/d) 5 7 Average Costs (per Boe) Lease…
  18. August 2018 Corporate Presentation – WildHorse Resource Development – slide 18
    WildHorse Commodity Hedging Overview Highlights Hedge Summary(2) Disciplined and balanced commodity Q3 - Q4 2018 2019 2020 Crude Oil Hedge Contracts: hedging strategy Swap contracts: Volume (Mbbl) 2,959 6,652 4,512 Proactive…
  19. August 2018 Corporate Presentation – WildHorse Resource Development – slide 19
    Premier Eagle Ford Pure Play Oil Producer Large Position in Eagle Ford Oil Window Proven Ability to Execute Advantaged Oil Price Differentials & Access to Markets Top-Tier Returns, Growth and Margins Abundant Service…
  20. August 2018 Corporate Presentation – WildHorse Resource Development – slide 20
    APPENDIX
  21. August 2018 Corporate Presentation – WildHorse Resource Development – slide 21
    WRD Ownership Chart NGP and The Carlyle Group Public 450MM Series A Perpetual Management(1) Convertible Preferred Stock Stockholders 46.8%(2) 24.1%(2) 29.1%(2) Company Shares Breakout WildHorse Resource Total Common Shares…
  22. August 2018 Corporate Presentation – WildHorse Resource Development – slide 22
    WRD Perpetual Convertible Preferred Equity Summary Issuer WildHorse Resource Development Corporation (NYSE: WRD) Purchaser The Carlyle Group, through its U.S. buyout fund Carlyle Partners VI Size 450.4 million liquidation preference…
  23. August 2018 Corporate Presentation – WildHorse Resource Development – slide 23
    WRD CG&A Reserve Detail (1) Oil Natural Gas NGLs Total % Oil PV-10 (MBbl) (MMcf) (MBbl) (MBoe) (%) (M) PDP 61,393 57,720 12,093 83,106 74% 1,232,999 PDNP 3,099 455 46 3,221 96% 31,448 December 31, 2017(2) PUD 217,146 223,019…
  24. August 2018 Corporate Presentation – WildHorse Resource Development – slide 24
    Reconciliation of Adjusted EBITDAX This presentation and accompanying schedules include the non-GAAP financial measure Adjusted EBITDAX. The accompanying schedule provides a reconciliation of the non-GAAP financial measure to its most…
  25. August 2018 Corporate Presentation – WildHorse Resource Development – slide 25
    Cautionary Statements and Additional Disclosures Cash General and Administrative Expenses Our presentation of cash general and administrative (G&A) expenses is a non-GAAP measure. We define cash G&A as total G&A determined in…
  26. August 2018 Corporate Presentation – WildHorse Resource Development – slide 26
    Cautionary Statements and Additional Disclosures GP&T Revenue Recognition Reconciliation Second Quarter 2018 The table below reconciles gathering, processing and transportation (GP&T) expense to the reporting convention prior to the…
  27. August 2018 Corporate Presentation – WildHorse Resource Development – slide 27
    WildHorse Company Tear Sheet Profile Investors WildHorse Resource Development Investor Relations: Contact: Corporation is an independent oil and Pearce Hammond, CFA natural gas company focused on the Vice President, Investor Relations…

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