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4Q and FY 2018 Earnings Presentation – Rosehill Resources Inc.

Rosehill Resources Inc. · Mar 28, 2019 · 25 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 and FY 2018 Earnings Presentation – Rosehill Resources Inc. – slide 1
    Fourth Quarter and Full-Year 2018 Results MARCH 28. 2019
  2. 4Q and FY 2018 Earnings Presentation – Rosehill Resources Inc. – slide 2
    Investment Highlights Core position in Northern and Southern Delaware Basin of 13,800 acres Permian Pure Play Deep inventory of 500+ operated locations from multiple stacked benches Delaware Focused Actively expanding position from…
  3. 4Q and FY 2018 Earnings Presentation – Rosehill Resources Inc. – slide 3
    Pure Play Delaware Basin Operator Well positioned in one of the most prolific basins in the United States Leading Delaware Basin small-cap E&P company Lea County Two core operating areas: Northern and Southern Net Acres: 13,800…
  4. 4Q and FY 2018 Earnings Presentation – Rosehill Resources Inc. – slide 4
    Fourth Quarter 2018 Updates and 2019 Objectives Recent Highlights 2019 Objectives Exceeded upper end of 2018 guidance for Pursue accretive acreage acquisitions production and Adjusted EBITDAX Q418 Adjusted EBITDAX of 63.6 million,…
  5. 4Q and FY 2018 Earnings Presentation – Rosehill Resources Inc. – slide 5
    Continued Growth of Proved Reserves and PV-10 Year-end 2018 proved reserves totaled 48.4 Proved Reserves December 31, 2018 (1) MMBoe Oil Gas NGL Total PV-10 Total proved reserves up 55% YoY Reserve Category (MBbls) (MMcf) (MBbls)…
  6. 4Q and FY 2018 Earnings Presentation – Rosehill Resources Inc. – slide 6
    2019 Guidance Capital investment aligned with Adjusted EBITDAX Provide 13% year-over-year production growth based on midpoint of guidance Maintain momentum into 2020 with growth from Q418 to Q419 2018 2019 Metric Actuals Guidance…
  7. 4Q and FY 2018 Earnings Presentation – Rosehill Resources Inc. – slide 7
    Hedge Positions Protect 2019+ Cash Flows Adjusted EBITDAX Sensitivity Leverage Ratio Sensitivity (based on midpoint of 2019 guidance and 2019 hedge positions) (based on midpoint of 2019 guidance and 2019 hedge positions) 30 2.0x…
  8. 4Q and FY 2018 Earnings Presentation – Rosehill Resources Inc. – slide 8
    Drilling Locations Provide Substantial Inventory 571 513 58 20 Rig-Years of Drilling Inventory 155 Additional Locations from Fam-in Acreage Not Included 83 76 76 56 26 14 27 Brushy Canyon Avalon Bone Spring 1st Bone 2nd Bone…
  9. 4Q and FY 2018 Earnings Presentation – Rosehill Resources Inc. – slide 9
    Emerging Southern Delaware Basin Future Growth Area Producing Formation Bell/Cherry Canyon Wolfcamp A Brushy Canyon Sand Structure Asset consisting of 300+ locations Avalon Equivalent CI = 100 Ft Parsley (3 Well Pad) across 5 to 6…
  10. 4Q and FY 2018 Earnings Presentation – Rosehill Resources Inc. – slide 10
    Southern Delaware Geological Update Pilot Well Wolfcamp Structure Five initial pilots and associated State Blanco 58 CI = 100 Ft laterals drilled with four laterals A3 IP 24 Boepd Wolfcamp A State Blanco 58 completed to date 3 Well…
  11. 4Q and FY 2018 Earnings Presentation – Rosehill Resources Inc. – slide 11
    Finding the Sweet Spot in Southern Delaware Basin Upper Wolfcamp Southern Delaware reservoirs are in a A A localized < 9.4 Miles < 4.4 Miles Lith Lith Lith depositional Sweet Oil in Place Oil in Place Oil in Place Spot between the…
  12. 4Q and FY 2018 Earnings Presentation – Rosehill Resources Inc. – slide 12
    Northern Delaware Basin Execution Type Log Heart of the Delaware Tatanka Fed 1H Peak Rate: 1,532 Boepd Offset operators (APC, EOG, CXO, etc.) Wolfcamp A Lower actively developing 11 distinct benches over a 4,500 foot thick…
  13. 4Q and FY 2018 Earnings Presentation – Rosehill Resources Inc. – slide 13
    Strong Northern Delaware Basin Well Performance 3rd Bone Spring Sand Wolfcamp A Upper Wolfcamp A Lower 300 300 300 250 250 250 200 200 200 Cum. Oil Production (MBO) Cum. Oil Production (MBO) Cum. Oil Production (MBO)…
  14. 4Q and FY 2018 Earnings Presentation – Rosehill Resources Inc. – slide 14
    Well Economics and Type Curve Summary Northern Delaware Northern Delaware Type Curves 1,000 350 WCA X/Y WCA Lower BS Sand Wolfcamp A Wolfcamp A 2nd Bone Spring 300 Type Curve X/Y Lower Sand 800 Cumulative Oil (MBo) 250…
  15. 4Q and FY 2018 Earnings Presentation – Rosehill Resources Inc. – slide 15
    16 Midstream Infrastructure Flexible and Well-Positioned for Growth Northern Delaware Ample Transport MidCush Basis 99% Oil Piped as Significantly Hedged in Capacity to Midland of March 2019 Core Loving oil and gas gathering…
  16. 4Q and FY 2018 Earnings Presentation – Rosehill Resources Inc. – slide 16
    Water Assets Create Flexibility and Value Gross Water Production - Northern and Southern 240,000 200,000 Currently utilizing 30% of 30 day average (Bwpd) available disposal capacity 160,000 235,000 Bwpd Disposal Capacity…
  17. 4Q and FY 2018 Earnings Presentation – Rosehill Resources Inc. – slide 17
    Capital Efficient Growth With Low Leverage Average Daily Production (Boepd) Adjusted EBITDAX (MM) (2) 210 - 230 20,000 - 21,500 204 18,337 5,838 47 2017 2018 2019 E 2017 2018 2019 E Capital Spending (MM) Debt / TTM…
  18. 4Q and FY 2018 Earnings Presentation – Rosehill Resources Inc. – slide 18
    Rosehills compelling investment profile Rosehill is valued below peers based on enterprise multiples. Enterprise Value / 2019 Adjusted EBITDAX (1) 9.0x 8.0x 7.0x 6.0x Peer Average = 5.6x 5.0x 4.0x 3.1x 3.0x 2.0x 1.0x…
  19. 4Q and FY 2018 Earnings Presentation – Rosehill Resources Inc. – slide 19
    Capital Structure Capitalization and Liquidity (MM) (1) Borrowing Base increase to 300MM(1) Cash 20 Increase driven by larger production base and improved Revolving Credit Facility 194 cost profile 10% Second Lien Note 94…
  20. 4Q and FY 2018 Earnings Presentation – Rosehill Resources Inc. – slide 20
    Focused on the Future Well done is better than well said and we have the results to prove it Economic Growth Drill and Complete Existing Inventory of 500+ Locations Organic Leasing Accretive Acquisitions Conservative Financial…
  21. 4Q and FY 2018 Earnings Presentation – Rosehill Resources Inc. – slide 21
    Experienced Management Team Gary Hanna Chairman, Interim President and CEO Over 35 years of industry experience with Rosehill since September 2015 Former Chairman of Energy XXI Gulf Coast Inc.; Former Director of Hercules Offshore…
  22. 4Q and FY 2018 Earnings Presentation – Rosehill Resources Inc. – slide 22
    Board of Directors Gary Hanna Chairman, Interim President & CEO Over 35 years of industry experience with Rosehill since September 2015 Former Chairman of Energy XXI Gulf Coast Inc.; Former Director of Hercules Offshore Inc. Former…
  23. 4Q and FY 2018 Earnings Presentation – Rosehill Resources Inc. – slide 23
    Hedging Profile Hedge positions 2019 2020 2021 2022 Crude Oil Swaps Hedge Volume (Bbl) 2,664,000 1,960,000 2,160,000 1,100,000 Average Price (/Bbl) 53.59 60.09 61.21 58.42 Crude Oil Collars Hedge Volume (Bbl) 601,000 Average Ceiling…
  24. 4Q and FY 2018 Earnings Presentation – Rosehill Resources Inc. – slide 24
    Non-GAAP Measures The following tables present a reconciliation of Adjusted EBITDAX to net income (loss), the most directly comparable GAAP financial measure for the periods indicated. Q4'18 Q3'18 YE'18 YE'17 2019 Guidance (In…
  25. 4Q and FY 2018 Earnings Presentation – Rosehill Resources Inc. – slide 25
    Non-GAAP Measures PV-10 is a non-GAAP financial measures used by management, investors and analysts to estimate the present value, discounted at 10% per annum, of estimated future cash flows of the Companys estimated proved reserves…

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