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1Q 2019 Earnings Presentation – Concho Resources, Inc.

Concho Resources, Inc. · Apr 30, 2019 · 17 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. 1Q 2019 Earnings Presentation – Concho Resources, Inc. – slide 1
    1Q 2019 Quarterly Update April 30, 2019
  2. 1Q 2019 Earnings Presentation – Concho Resources, Inc. – slide 2
    1Q19 Highlights Executing Near-Term Goals, Focusing on Long-Term Returns Delivering strong execution Exceeded high end of production guidance; completed major projects ahead of schedule Confidence in full-field development…
  3. 1Q 2019 Earnings Presentation – Concho Resources, Inc. – slide 3
    Delivering Strong Execution 1Q19 Performance High-Margin Oil Growth 1Q19 Review Delivering Production Growth Focusing on Ahead of Expectations Cost Control Delivering strong Production (MBoepd) +44% y/y Cash Expenses excl. GP&T…
  4. 1Q 2019 Earnings Presentation – Concho Resources, Inc. – slide 4
    1Q19 Operational Highlights Strong Performance Across High-Quality Portfolio Asset Performance Activity Overview Delaware Basin Midland Basin Added 23 wells (avg. lateral length 9,125) Added 27 wells (avg. lateral length 10,379)…
  5. 1Q 2019 Earnings Presentation – Concho Resources, Inc. – slide 5
    Confidence in Full-Field Development Driving Efficiencies Running a Large, Manufacturing-Like Program to 2019 Key Projects Maximize Resource Recovery and Economics 1st Well Key Projects Production Start 4 Dimensions of Full-Field…
  6. 1Q 2019 Earnings Presentation – Concho Resources, Inc. – slide 6
    Raising Growth Outlook; Maintaining Capital Program Guidance Improving Capital Efficiency 2019 Capital Program & Growth Outlook 1Q19 Review Capital Outlook FCF+ Inclusive of Dividend Delivering strong Old New execution Oil Growth…
  7. 1Q 2019 Earnings Presentation – Concho Resources, Inc. – slide 7
    Capital Allocation Framework Track Record of Disciplined Capital Stewardship; Strategy for Deploying Excess Cash Historically Maintain a strong balance sheet Why Focus on Historically guided by Enhance free cash Free Cash Flow…
  8. 1Q 2019 Earnings Presentation – Concho Resources, Inc. – slide 8
    Generating Strong Returns on Investment Oryx I Oil Gathering System Monetization Oryx I Monetization Generates Strong Returns 1Q19 Review While Continuing to Support Growth Outlook Delivering strong Announced sale of Oryx I…
  9. 1Q 2019 Earnings Presentation – Concho Resources, Inc. – slide 9
    Driving Value Through Midstream & Marketing Focus Scale Drives Key Strategies Permian Oil Takeaway Key Strategies 1Q19 Review Strong Growth Leading to Infrastructure Focus on maximizing realized commodity prices Build Out Oil basis…
  10. 1Q 2019 Earnings Presentation – Concho Resources, Inc. – slide 10
    1Q19 Highlights Executing Near-Term Goals, Focusing on Long-Term Returns Delivering strong execution Leveraging Our Unique Exceeded high end of production guidance; completed major projects ahead of schedule Competitive Advantages…
  11. 1Q 2019 Earnings Presentation – Concho Resources, Inc. – slide 11
    Appendix
  12. 1Q 2019 Earnings Presentation – Concho Resources, Inc. – slide 12
    Permian Natural Gas Dynamics Demand Pull Necessary to Improve Market Outlook Regional Gas Price Differentials Oil & Liquids-Weighted Revenue Stream Waha Basis El Paso Permian Basis 1Q19 Revenue Mix - Gulf Coast Express New long-…
  13. 1Q 2019 Earnings Presentation – Concho Resources, Inc. – slide 13
    1Q19 Commodity Price Realizations Pre & Post - Derivative Price Realizations Calculating Revenues, Excluding Derivatives Calculating Derivative Settlements Calculating Total Realized Prices, Including Derivatives Oil (/Bbl) Oil Gain…
  14. 1Q 2019 Earnings Presentation – Concho Resources, Inc. – slide 14
    Reconciliation of Net Income (Loss) 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…
  15. 1Q 2019 Earnings Presentation – Concho Resources, Inc. – slide 15
    Reconciliation of Net Income (Loss) to Adjusted EBITDAX (Unaudited) Adjusted EBITDAX (as defined below) is presented herein and reconciled from the GAAP measure of net income (loss) because of its wide acceptance by the investment…
  16. 1Q 2019 Earnings Presentation – Concho Resources, Inc. – slide 16
    Hedge Position Updated as of April 30, 2019 2019 2020 2021 2Q 3Q 4Q Total Total Total 1 Oil Price Swaps : Volume (Bbl) 16,819,750 14,829,000 12,513,000 44,161,750 39,340,000 13,137,000 Price per Bbl 57.21 57.06 56.65 57.00 57.21…
  17. 1Q 2019 Earnings Presentation – Concho Resources, Inc. – slide 17
    2019 Guidance Updated as of April 30, 2019 2Q19 Guidance 2019 Guidance 2019 Production Guidance 316 MBoepd 322 MBoepd Production Total production growth 23% - 27% Oil production growth 27% - 31% Price realizations, excluding…

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