Barclays Global CEO Energy Power Conference – Centennial Resources Development

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Slides

Marks Conclusions from Recent Global Oil Data and 2Q US E&P Earnings Calls Barclays CEO Energy-Power Conference September 4, 2018
What We Said at Last Years Barclays Conference 2018 oil price would be higher than 2017 due to tightening supply / demand Shale completion technical improvements will slow considerably 2018 US oil production would be powerful but…
Global Oil Supply / Demand Overall Global supply / demand still very tight System likely to tighten further in 2019 Global surplus capacity 1.5 MMBD in 100 MMBD system very small cushion US Supply Majority of 2Q US E&Ps…
Centennials 2Q Position One of the few: o To not increase FY capex while maintaining oil guidance o To lower essentially every FY unit cost category o Permian mid-caps to have both oil and gas takeaway problems essentially solved…
Flow Assurance For Both Oil & Natural Gas 100% of expected residue gas under firm transportation or firm sales agreements to Waha and out of the Basin through 2021 On September 4th, announced an additional crude oil firm sales…
Texas Delaware Basin Well Productivity Average Oil Well Performance Since 2017 (9-Month Cumulative Oil Production; Bo / ft.) Large-caps 30 26 25 20 Cumulative Oil / Foot Median: 18 Bo / Ft. 15 10 5 0…
What About GAAP Earnings Expect 7% GAAP ROCE and ROE this year At 75 WTI, expect 14% GAAP ROCE and 17% GAAP ROE in 2020 Objective within two years have competitive GAAP returns with other non-energy industry groups 8