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2Q 2019 Earnings Presentation – Concho Resources, Inc.

Concho Resources, Inc. · Jul 31, 2019 · 12 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. 2Q 2019 Earnings Presentation – Concho Resources, Inc. – slide 1
    2Q 2019 Quarterly Update July 31, 2019
  2. 2Q 2019 Earnings Presentation – Concho Resources, Inc. – slide 2
    2Q19 Highlights Executing near-term goals, focusing on long-term returns Delivering on execution Delivering strong execution strength & scale advantage 2Q19 production exceeds high end of guidance Oil and total production ahead of…
  3. 2Q 2019 Earnings Presentation – Concho Resources, Inc. – slide 3
    Delivering Strong Execution 2Q19 Performance Production (MBoepd) Continuous Cost Focus 2Q19 Review Oil Gas Production Guidance Cash Expenses excl. GP&T (/Boe) 10.09 Delivering strong 328 329 9.98 9.88 9.68…
  4. 2Q 2019 Earnings Presentation – Concho Resources, Inc. – slide 4
    2Q19 Operational Highlights Acreage Position Asset Performance Delaware Basin Midland Basin Added 62 wells (avg. lateral length 6,251) Added 32 wells (avg. lateral length 9,181) Avg. 30-day peak rate: 1,388 Boepd (75% oil) Avg.…
  5. 2Q 2019 Earnings Presentation – Concho Resources, Inc. – slide 5
    Large-Scale Project Update Optimizing asset development Delaware Basin Eddy Eider Lea Dominator Project 12 wells Recent Projects Inform 7,100 avg. Strong execution across the organization lateral length Massive project online…
  6. 2Q 2019 Earnings Presentation – Concho Resources, Inc. – slide 6
    On Track With 2019 Capital Guidance Confidence in 2020+ FCF outlook Capital Spending Commitment to Capital Discipline & 2Q19 Review E&D Capital (mm) 80 WTI Price (/Bbl) Returns FY19 capital program 2.8-3.0bn Delivering strong…
  7. 2Q 2019 Earnings Presentation – Concho Resources, Inc. – slide 7
    Capital Allocation Framework Capital Allocation Framework Evolution of the Business Model Initiated dividend program Dividend Cash Flow Historically guided by Set at a level that can grow sustainably Priorities growth…
  8. 2Q 2019 Earnings Presentation – Concho Resources, Inc. – slide 8
    Appendix
  9. 2Q 2019 Earnings Presentation – Concho Resources, Inc. – slide 9
    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…
  10. 2Q 2019 Earnings Presentation – Concho Resources, Inc. – slide 10
    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…
  11. 2Q 2019 Earnings Presentation – Concho Resources, Inc. – slide 11
    Hedge Position Updated as of July 31, 2019 2019 2020 2021 3Q 4Q Total Total Total Oil Price Swaps - WTI1: Volume (Bbl) 16,570,000 12,513,000 29,083,000 40,080,500 13,137,000 Price per Bbl 56.96 56.65 56.83 57.27 55.33 Oil Price…
  12. 2Q 2019 Earnings Presentation – Concho Resources, Inc. – slide 12
    2019 Guidance Updated as of July 31, 2019 3Q19 Guidance 2019 Guidance 2019 316 MBoepd 322 MBoepd Guidance Expect consistent oil mix 2H19 Production vs. 1H19 (63%) Total production growth 23% - 27% Oil production growth 22% -…

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