Concho Resources Leading Development of the Permian Basin Leadership Position The Permian Basin 640,000 net acres Our home for 30+ years Permian Basin Home-field advantage with HQ in Midland, Texas New Mexico The pillars of our…
Global Context Innovation and Technology Game Changers for U.S. Oil Growth Millions of Barrels of Crude Oil Produced Per Day The U.S. Oil Growth Story Is a Permian 2008 2018 Oil Growth Story Russia 9.3 United States Permian Other…
Well Positioned to Deliver Value-Added Growth and Free Cash Flow Leveraging Our Unique Competitive Advantages Our Advantages Breadth and Depth Execution Strength Superior Capital Financial of High-Quality and Scale Efficiency…
Execution Strength & Scale Delivering Strong Performance Our Performance Our Advantages Delivering Volumes at Reducing Controllable Extending Track Record of Execution Strength & High-End of Guidance Cash Costs Disciplined…
Breadth & Depth of High-Quality Portfolio 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…
Superior Capital Efficiency Large-Scale Development Accelerating Innovation, Improving Capital Efficiency Our Performance Our Advantages Maximizing Lateral Length Fine-Tuning Completions Increasing Productivity Execution Strength &…
Financial Strength Prioritizing Financial Discipline & Balance Sheet Strength Financial Discipline Our Advantages Investment grade credit ratings Average Coupon Rate & Track record of cash flow exceeding D&C capital Debt Maturity…
Outlook
2019 Capital Program Compelling Growth and Free Cash Flow Outlook Capital Spending Focus on Sustainable Free Cash Flow Growth Capital Program (bn) Gearing around a 50 WTI price environment 2019 capital outlook FCF+ inclusive of…
2019 Development Outlook Advancing Large-Scale Development 1st Well Directing capital to high-return, large-scale projects Key Projects Production Start 80%+ capital allocated to large-scale projects Increasing lateral length 20% y/y…
Capital Allocation Framework Driving Shareholder Returns Our Mindset Reflects evolution Historically Disciplined approach to growth of the E&P Historically guided by Enhance free cash business model guided by growth…
Key Messages Leveraging Competitive Advantages to Deliver Sustainable Performance Well Positioned to Delivering production growth and free cash flow Deliver Sustainable, Strong oil growth and sustainable free cash flow growth…
Appendix
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…
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…
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…
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…
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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