1Q Overview Adjusted EPS Adjusted EBITDA Adjusted EBITDA Margin 0.47 Above consensus expectations 153 MM Above consensus expectations 27 /Boe Driven by high-return Eagle Ford Total Production Oil Production Total…
2019 Development Plan On Track to Hit Full-year Budget 525-575 MM Budget 1Q Net Activity vs. Capex Drilling Activity 51% Eagle Ford Completion Activity 46% DC&I Capex 41% 60% Delaware Basin Drilling Activity 33%…
Eagle Ford Shale Operations Summary 1Q Highlights Historical Production Completed two large-scale multipad projects 50 Production currently 17,000 Bbls/d gross 40 Continued to generate operational efficiencies MBoe/d 30…
Eagle Ford Shale Strong Performance from Pena and RPG Multipads Total Oil Production 20,000 45 18,000 Gross Oil Production 40 No. of Wells Online 16,000 No. Wells Online 35 14,000 30 12,000 Bbls/d 25 10,000 20 8,000…
Eagle Ford Shale Program Focused on Multipad Projects Upcoming Multipad Projects Well Total Frac Average Area Count Stages Lateral Brown Trust 13 413 6,400 ft. Irvin 14 481 6,900 ft. Arnold 9 420 9,300 ft. Arnold Irvin…
Delaware Basin Operations Summary 1Q Highlights Historical Production Completed initial multi-layer cube test with 35 encouraging early results 30 25 Production impacted by a significant increase in MBoe/d planned downtime…
Delaware Basin Conducting Cube Tests to Optimize Development St. Clair Pad Crowley Pad Frac Sequencing Design WCA WCA WCA Bounded Unbounded Bounded 11H WCA 11H WCBU WCBU Bounded Unbounded 11H 11H WCB WCBL 12H Upper WCBL WCBL…
Delaware Basin Encouraging Early Results from Initial Cube Test Total Production1 Summary Highlights 12,000 Early peak rate of 10,600 Boe/d 10,000 60% oil, 78% liquids 8,000 Strong performance seen from Wolfcamp A wells Boe/d…
Financial Summary 1Q Highlights Revenue Drivers Exposure to premium-priced seaborne markets 70 55 continued to drive strong crude oil netbacks 68 66 50 Sequential production decline associated with 64 MBoe/d /Boe 62 45…
Balance Sheet Improvement Remains a Focus Free Cash Flow Targeted for Debt Reduction Historical Leverage Metrics1 Revolving Credit Facility 3.5x Targeting 1.25 billion borrowing base commitment Leverage Net Debt / Adjusted…
Hedging Program Disciplined Strategy Protects Cash Flows 2019 Program 2020+ Program Goals Swaps Collars Hedge 50%-75% of crude oil production Hedge 50% of crude oil production Target floor price 50/Bbl Target floor…
Guidance Summary Actual Guidance Highlights 1Q 2019 2Q 2019 FY 2019 Production Volumes: Efficiency gains and cost savings Total (Boe/d) 61,960 66,500 - 67,500 66,800 - 67,800 contribute to a 35% year-over-year Crude Oil % 66% 64%…
Non-GAAP Reconciliation Reconciliation of Net Income Attributable to Common Shareholders (GAAP) to Adjusted Net Income Attributable to Common Shareholders (Non-GAAP) 1Q 2019 In thousands Per diluted Share Net Income Attributable…
Non-GAAP Reconciliation Reconciliation of Net Income Attributable to Common Shareholders (GAAP) to Adjusted EBITDA (Non-GAAP) to Net Cash Provided by Operating Activities (GAAP) 2Q 2018 3Q 2018 4Q 2018 1Q 2019 (In thousands, except…
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