Core Oil Delaware Basin Pure-Play UBS Global Oil & Gas Conference May 21, 2019
Centennial Resource Development Overview Company Overview Areas of Operation Large, contiguous oil rich position in the Delaware Basin 80,000 net acres in the core of the basin 89% operatorship allows for control of development…
High Quality Acreage Position in Core of the Delaware Delaware Basin Well Productivity (Peak, Normalized 90-Day Oil - Bo/d/ft.) Maximum Oil Minimum Oil Scale Productivity Productivity Southern Delaware Basin Northern Delaware…
Southern Delaware Basin Well Productivity Average 2018 Well Performance (6-Month Cumulative Oil Production, Mbo) 125 *Excerpt from JP Morgan Equity Research SMID Cap Peers: CPE, CRZO, JAG and PDCE Large Cap Peers: CXO, EOG CDEV…
Well Productivity Drives Returns 2018 Cash Return on Capital Invested *Excerpt from U.S. Capital Advisors Equity Research Peer Results Permian Peers 16% CDEV Source: U.S. Capital Advisors Equity Research, Bloomberg and…
Centennial Q1 2019 Highlights: Continued Execution Q1 2019 Highlights CDEV Q119 Results vs FY 2018 Avg (Upper WC A)1 Increased daily oil and equivalent 70 production 28% and 33% year-over-year, Q119 well results are tracking 8%…
Reeves County Downspacing Test Outperforming Strong Upper Wolfcamp A 3-well pad from recently completed Doc Reeves County Well Locator Map Martens 3H, 9H and 16H Average IP-30 of 1,775 Boe/d; oil IP-30 of 1,444 Bo/d Wells…
Extending the 3rd Bone Spring Boundaries Strong Fundamental A T45H - Cum. Oil (Mbo) Reeves County Well Locator Map1 50 Strong Fundamental A T45H Strong Fundamental A T45H Recent CDEV 3rd Bone Spring Sand Tests Industry 3rd Bone…
Airstream 502H Continues to Outperform Airstream 24 State Com 502H - Cum. Oil (Mbo) Lea County Well Locator Map 140 Airstream 24 State Com 502H Avg FY'18 2 Mile Lateral Results (All Zones) 120 100 Cumulative Oil Production…
Delivering on Competitive Unit Costs Q1 2019 Results vs Feb 19 Guidance LOE ( / Boe) GP&T ( / Boe) Cash G&A ( / Boe) DD&A ( / Boe) 4.95 17.50 3.25 2.75 4.61 2.75 14.89 4.35 15.50 2.32 2.25 1.89 Russell 6H & Stephens…
Crude & Natural Gas Flow Assurance Summary Crude oil basis and takeaway risk mitigated through firm sales contracts In total, secured takeaway for 50,000 Bo/d gross in 2019 through firm sales agreements with major, integrated oil…
Capital Structure and Liquidity Overview Capital structure overview Capitalization and Liquidity ( mm) Borrowing base increased by 20% to 1.2bn during Spring Redetermination Capitalization Actual (as of 3/31/19) Credit facility…
Industry Benchmarking Net Debt / Book Capitalization Net Debt / Book Capitalization (as of Q119) 70% Permian Peers 60% 50% 40% Industry Median: 36% 30% 20% 20% 10% 0% CDEV Source: Company filings…
Centennial Resource Development Highlights Large, contiguous oil-rich position in core of the Delaware Basin Top-tier technical team delivering differentiated results Maintaining competitive cost structure and financial…
Appendix 16
Q1 2019 Financial Results Financial summary (mm, unless otherwise noted)1 2018 2019 ( in millions, unless specified) Q1 Q2 Q3 Q4 Q1 Average Daily Production (Boe/d) 54,069 57,528 62,930 69,609 72,035 Average Daily Oil Production…
Hedge Position Overview FY 2019 (9 months ended 12/31/19) Q2 Q3 Q4 Bal 2019 MidCush Basis Swaps Total Volume (Bbl) 91,000 1,380,000 920,000 2,391,000 Daily Volume (Bbl/d) 1,000 15,000 10,000 8,695 Weighted Average Price ( / Bbl)…
Reconciliation of Adjusted EBITDAX to Net Income (Loss) Adjusted EBITDAX reconciliation ( thousands)1 Q1 2018 Q2 2018 Q3 2018 Q4 2018 2018 2019 3 months ended 3 months ended 3 months ended 3 months ended 12 months ended 3 months…
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