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4Q 2018 Earnings Presentation – Concho Resources, Inc.

Concho Resources, Inc. · Feb 19, 2019 · 16 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. 4Q 2018 Earnings Presentation – Concho Resources, Inc. – slide 1
    4Q 2018 Quarterly Update February 19, 2019
  2. 4Q 2018 Earnings Presentation – Concho Resources, Inc. – slide 2
    Key Messages Executing Near-Term Goals, Focusing on Long-Term Returns 2018 A Transformational Year for Concho Well Positioned to Deliver Sustainable, Profitable Deliver strong performance Performance Executed one of the largest…
  3. 4Q 2018 Earnings Presentation – Concho Resources, Inc. – slide 3
    Deliver Strong Performance 2018 Operational & Financial Summary 2018 Review Delivering Volumes at Reducing Controllable Extending Track Record of Deliver strong High-End of Guidance Cash Costs Disciplined Investment performance…
  4. 4Q 2018 Earnings Presentation – Concho Resources, Inc. – slide 4
    Advance Large-Scale Development Efficiencies Optimizing Development 2018 Review Maximizing Lateral Length Fine-Tuning Completions Increasing Productivity Deliver strong Avg. Lateral Length (ft.) Stages per Well Proppant / Lateral Ft.…
  5. 4Q 2018 Earnings Presentation – Concho Resources, Inc. – slide 5
    Enhance our Asset Portfolio Active Portfolio Management 2018 Review Concho Acreage: Year-End 2017 Concho Acreage: Year-End 2018 Deliver strong performance Advance large-scale Midland Midland Basin Basin development efficiencies…
  6. 4Q 2018 Earnings Presentation – Concho Resources, Inc. – slide 6
    Strengthen Financial Position & Investment Case Financial Discipline a Competitive Advantage 2018 Review Investment grade credit ratings Average Coupon Rate & Track record of cash flow exceeding D&C capital Debt Maturity Deliver…
  7. 4Q 2018 Earnings Presentation – Concho Resources, Inc. – slide 7
    High-Quality Resource Capture Growing Capital-Efficient Reserve Base Expanding Premium Resource Depth Proved Reserves (MMBoe) 12 BBoe of Horizontal Resource Proved Developed Proved Undeveloped 1,187 Premium Resource: Two-thirds of…
  8. 4Q 2018 Earnings Presentation – Concho Resources, Inc. – slide 8
    4Q18 Results Highlights Operational & Financial Summary Activity Overview Production totaled 307 MBoepd; oil production totaled 199 MBopd Net income of 1.5bn, or 7.55 per share; adjusted net income of 189mm, or 0.94 per share…
  9. 4Q 2018 Earnings Presentation – Concho Resources, Inc. – slide 9
    Updated 2019 Capital Program Moderating Capital Spending Reinforcing Our Focus on Free Cash Flow Growth Capital Program (bn) Gearing around a 50 WTI price environment 2019 capital outlook FCF+ inclusive of dividend 3.4-3.6 Strong FCF…
  10. 4Q 2018 Earnings Presentation – Concho Resources, Inc. – slide 10
    Updated 2019 Development Outlook Enhancing our Capital Efficiency Advancing Large-Scale Development 1st Well Directing capital to high-return, large-scale projects Key Projects Production Start 80%+ capital allocated to large-scale…
  11. 4Q 2018 Earnings Presentation – Concho Resources, Inc. – slide 11
    Updated 2019 Plans, Maintaining Capital Allocation Framework Our Mindset Reflects evolution Historically Disciplined approach to growth of the E&P Historically guided by Enhance free cash business model guided by growth…
  12. 4Q 2018 Earnings Presentation – Concho Resources, Inc. – slide 12
    Appendix
  13. 4Q 2018 Earnings Presentation – Concho Resources, Inc. – slide 13
    Reconciliation of Net Income to Adjusted Net Income and Adjusted Earnings per Share (Unaudited) The Companys presentation of adjusted net income and adjusted earnings per share that exclude the effect of certain items are non-GAAP…
  14. 4Q 2018 Earnings Presentation – Concho Resources, Inc. – slide 14
    Reconciliation of Net Income to Adjusted EBITDAX (Unaudited) Adjusted 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…
  15. 4Q 2018 Earnings Presentation – Concho Resources, Inc. – slide 15
    Hedge Position Updated as of February 19, 2019 2019 2020 2021 1Q 2Q 3Q 4Q Total Total Total 1 Oil Price Swaps : Volume (Bbl) 13,709,250 13,383,750 11,998,000 11,232,000 50,323,000 39,340,000 8,027,000 Price per Bbl 56.55 56.12…
  16. 4Q 2018 Earnings Presentation – Concho Resources, Inc. – slide 16
    2019 Guidance Updated as of February 19, 2019 1Q19 Guidance 2019 Guidance Production 2019 300 MBoepd 306 MBoepd Guidance Production Lease Operating Expense Total production growth 21% - 25% 6.30 to 6.50 per Boe Oil production growth…

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