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2Q 2018 Investor Presentation – Concho Resources, Inc.

Concho Resources, Inc. · Aug 1, 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. 2Q 2018 Investor Presentation – Concho Resources, Inc. – slide 1
    2Q 2018 Quarterly Update August 1, 2018
  2. 2Q 2018 Investor Presentation – Concho Resources, Inc. – slide 2
    Concho Resources Strong Track Record of Profitable Growth The Permian Basin Competitive Advantages The Permian Basin: Our home for 30+ years Execution strength & Home-field advantage with HQ in Midland, Texas scale Superior capital…
  3. 2Q 2018 Investor Presentation – Concho Resources, Inc. – slide 3
    Closed Acquisition of RSP Permian Solidified Leading Position in the Permian Basin Enhanced Portfolio Enhanced Scale + Development Platform for Long-Term Value Creation & Growth 640,000 net acres Largest pure-play Permian…
  4. 2Q 2018 Investor Presentation – Concho Resources, Inc. – slide 4
    2Q18 Update
  5. 2Q 2018 Investor Presentation – Concho Resources, Inc. – slide 5
    2Q18 Performance Executing Near-Term Goals, Focusing on Long-Term Returns 2Q18 Highlights High-Margin Growth Production (MBoepd) Delivering Strong, Consistent Execution Oil Gas Total production of 229 MBoepd in line with the high end…
  6. 2Q 2018 Investor Presentation – Concho Resources, Inc. – slide 6
    2Q18 Operational Highlights Scaling Development to Maximize Returns & Recoveries New Mexico Shelf Northern Delaware Basin Southern Delaware Basin Northern Added 16 horizontal wells (avg. lateral Added 5 horizontal wells (avg.…
  7. 2Q 2018 Investor Presentation – Concho Resources, Inc. – slide 7
    2Q18 Northern Delaware Basin Quickly Advancing Large-Scale Development 2Q18 Project Highlight Northern Delaware Basin 1 Columbus 4-well development project targeting the Wolfcamp A zone 660 spacing Avg. per well 30-day peak rate…
  8. 2Q 2018 Investor Presentation – Concho Resources, Inc. – slide 8
    2Q18 Midland Basin Maximizing Scale Advantage 2Q18 Project Highlights Midland Basin 1 PFU 102/103 5-well, multi-zone development project Targets include: Spraberry, Wolfcamp A and Wolfcamp B Martin Avg. per well 30-day peak rate…
  9. 2Q 2018 Investor Presentation – Concho Resources, Inc. – slide 9
    Midstream & Marketing Strategies A Decade of Proactive Infrastructure Investment Ahead of Growth Regional Gathering Systems Midland Gathering systems move 90% of crude to key intra-basin markets, with Basin the balance primarily…
  10. 2Q 2018 Investor Presentation – Concho Resources, Inc. – slide 10
    Prioritizing Capital Discipline Differentiated Production Growth & Free Cash Flow1 Cash Flow from Operating Activities vs. D&C Capital (mm) 228 229 High-Quality Assets & 211 Disciplined Reinvestment Drives 80.00 193 Free Cash Flow1…
  11. 2Q 2018 Investor Presentation – Concho Resources, Inc. – slide 11
    Updated 2018 Outlook for RSP Acquisition Delivering Strong Growth within Cash Flow Production (MBoepd) Capital Program Guidance1 3Q18e 4Q18e FY18e Total capital program guidance1: Incl. RSP 7/19 Full Qtr. of RSP Incl. RSP 7/19 2.5 to…
  12. 2Q 2018 Investor Presentation – Concho Resources, Inc. – slide 12
    Jumpstarting Large-Scale Development on RSP Assets Key Value Levers Unlock Significant Value on Day 1 Directing Capital & Resources to Key Large-Scale Projects Across Entire Portfolio Manufacturing Mode Long-lateral development…
  13. 2Q 2018 Investor Presentation – Concho Resources, Inc. – slide 13
    Delivering Long-Term Differentiated Performance Leading Permian Portfolio Positioned to Win Running Our Playbook Prudent Liability Management 2Q18 Long-Term Debt Profile (mm) Driving Strong, Prioritizing Capital 1,690 4,161 Credit…
  14. 2Q 2018 Investor Presentation – Concho Resources, Inc. – slide 14
    Appendix
  15. 2Q 2018 Investor Presentation – Concho Resources, Inc. – slide 15
    Reconciliation of Net Income to Adjusted Net Income and Net Income per Diluted Share to Adjusted Net Income per Diluted Share (Unaudited) The Companys presentation of adjusted net income and adjusted net income per diluted share that…
  16. 2Q 2018 Investor Presentation – Concho Resources, Inc. – slide 16
    Reconciliation of Net Income to EBITDAX (Unaudited) EBITDAX (as defined below) is presented herein and reconciled from the GAAP measure of net income because of its wide acceptance by the investment community as a financial indicator.…
  17. 2Q 2018 Investor Presentation – Concho Resources, Inc. – slide 17
    Costs Incurred (Unaudited) The table below provides the costs incurred for oil and natural gas producing activities for the periods indicated: Three Months Ended June 30, March 31, December 31, September 30, June 30, March 31, December…
  18. 2Q 2018 Investor Presentation – Concho Resources, Inc. – slide 18
    Hedge Position Includes RSP Commodity Derivative Positions 2018 2019 2020 REMAINING 2018 Third Fourth Total Total Total OIL BASIS SWAPS Oil Price Swaps1: Volume (Bbl) 12,574,318 11,666,007 24,240,325 38,768,000 16,726,000 113 MBopd…
  19. 2Q 2018 Investor Presentation – Concho Resources, Inc. – slide 19
    2018 Operational & Financial Outlook Includes RSP Beginning on the Acquisition Closing Date (July 19, 2018) 2018 3Q18 PRODUCTION Guidance 280-285 MBoepd Production (65% oil) Production (MBoepd) 260 - 263 Crude oil production mix 64%…

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