November 2018 Company Presentation – WildHorse Resource Development

WildHorse Resource Development · Nov 9, 2018 · 26 slides

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FOCUSED Creating value through operational excellence Company Presentation November 2018
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 418,000 net acres 3,200 net locations Emerging Austin Chalk…
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 BP 431 (2) WildHorse 418 Magnolia 359 Sanchez…
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…
Creating Value Through Results-Driven Execution 2018 Objectives Recent Highlights Divest North Louisiana assets Closed divestiture March 2018 Further delineate Eagle Ford position and evaluate Austin Chalk potential Brought…
Controlling Our Destiny Developing In-Field Sand Mine Overview In-Field Location Reduces Costs Sand mine is operational and fully in service by YE18 Annual capacity of 2.0 MM tons(1) WRD 2018 sand demand of 1.2 MM tons 40 years…
Midstream, Vendor Services, Water and Infrastructure Overview Significant Midstream & Vendor Infrastructure Ample Water Supply Multiple vendors with limited long-term contracts for Brazos key services provides flexibility and ample…
Visible Takeaway Capacity at Premium Pricing Current Status: 104% WTI Realization(1) Significant Takeaway Optionality Substantially all WRD oil production on pipeline to OK AR NM Gulf Coast and sold at LLS premium pricing TX LA…
WRD Eagle Ford Has Advantaged Oil Pricing Gulf Coast Offers Superior Realizations Q318 Comparative Basin Differentials(2) Advantaged pricing due to proximity to (5.71) Gulf Coast and superior markets WRD Premium to: Bakken Permian…
Cash Margin: WRD Eagle Ford vs. Competing Basins(1) (Q318) /Boe 80.00 71.02 69.60 69.60 70.23 69.60 70.00 69.60 Q318 Avg. WTI Price 13.47 60.00 16.71 19.78 25.30 26.97 Commodity Mix 3.88 3.15 50.00 7.69 4.39 Differential…
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…
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 IP30 = 711 Boe/d (91% oil) EUR: 91 Boe/Ft IP30 = 602…
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…
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 Gas IP-30 (Mcf/d) 6,740 Gas Gas EUR (MMcf) 234…
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…
Strong Balance Sheet and Liquidity Position Financial Highlights Capitalization & Liquidity 9/30/2018 - MM WRD Revolving Credit Facility Drawn 399 Ample liquidity of over 900 million in cash and 6.875% Senior Notes(1) 700 undrawn…
Industry-Leading Metrics at an Attractive Valuation Debt Adjusted Production Growth 17-18E(1) 2018E ROCE(2) 70% 15% 60% 50% 10% 40% Peer avg 6% 30% Peer avg 19% 5% 20% 10% 0% 0% WRD SRCI LPI CRZO WLL WPX QEP 2019 Enterprise…
WildHorse Commodity Hedging Overview Highlights Hedge Summary(2) Q4 2018 2019 2020 Disciplined and balanced commodity Crude Oil Hedge Contracts: hedging strategy Swap contracts: Volume (Mbbl) 1,399 6,652 4,512 Proactive policy…
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…
APPENDIX
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 Total Common Shares Outstanding…
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…
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…
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…
Cautionary Statements and Additional Disclosures GP&T Revenue Recognition Reconciliation Third Quarter 2018 The table below reconciles gathering, processing and transportation (GP&T) expense to the reporting convention prior to the…
WildHorse Company Tear Sheet Profile Investors WildHorse Resource Development Investor Relations Contacts: Corporation is an independent oil and Pearce Hammond, CFA natural gas company focused on the Vice President, Investor Relations…

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