Core Oil Delaware Basin Pure-Play Third Quarter 2019 Earnings Presentation November 4, 2019
Q3 2019 Centennial Highlights Increased Q319 average daily oil and equivalent production volumes 17% and 21%, respectively, year-over-year Increased both FY19 oil and equivalent production growth targets to 22% from 18% and 17%,…
Centennial Resource Development Overview CDEV Corporate Highlights Core Delaware Basin Acreage1 Large, contiguous oil-rich Loving Winkler position in the core of the Eddy Delaware Basin Ward Top tier technical team Lea…
Successful 3rd Bone Spring Play Expansion & Co-Development Barracuda 3-Well Pad Doc Hudson 3-Well Pad FY19 Reeves County Well Locator Map1 100 80 Barracuda Pad Avg Doc Hudson Pad Avg CDEV Highlight Well Avg FY'18 2 Mile Lateral…
Northern Delaware Efficiency & Productivity Gains Significant efficiency and productivity gains realized since entry Lea County (NM) Productivity Review1,2 into Northern Delaware in mid-2017 150 CDEV - 2019 Increased lateral length…
Driving Operational Efficiencies Continuing push to larger scale Average Completed Lateral Length Spud to Rig Release Days (Full Cycle Drill Time) development 31.8 31.7 7,600 Increasing average lateral 7,400 27.0 length…
Reducing D&C Costs With Similar Activity Levels Quarterly D&C Capex Vs. Operated Activity D&C cost reductions driven by operational efficiencies and service cost deflation D&C Capex (MM) Total Production (Boe/d) 222 76,122 76,312…
Revising Production Guidance Up for Second Quarter in a Row FY19 Oil Production Guidance (Bo/d)1 Implied FY19 Growth Rate 42,250 41,000 39,000 22% 18% 34,737 12% FY'18 FY'19 FY'19 FY'19 Original Mid-Year Updated…
Southern Delaware Water Infrastructure Overview Southern Delaware Water Infrastructure Overview Water Infrastructure Map CDEV Acreage Currently operate 12 SWD wells in Texas Operated SWD Well Existing Water Line with an additional 6…
Updated FY 2019 Guidance Summary Guidance summary Updated FY 2019 Guidance Summary Mid-Year Updated Maintaining original capital budget FY 2019 Guidance FY 2019 Guidance Production guidance Net Average Daily Production (Boe/d)…
Capital Structure and Liquidity Overview Capital Structure Overview Capitalization and Liquidity ( mm) Recently completed Fall 2019 redetermination process, reaffirming 1.2bn Actual Capitalization borrowing base and 800mm elected…
Industry Benchmarking Net Debt / Book Capitalization Net Debt / Book Capitalization (as of 6/30/19) 60% CDEV at Q319 Peers at 6/30/19 50% 40% Industry Median: 36% 30% 24% 20% 10% 0% CDEV Universe of…
Hedge Position Overview 2019 2020 Q4 FY 2020 MidCush Basis Swaps Total Volume (Bbl) 920,000 1,098,000 Daily Volume (Bbl/d) 10,000 3,000 Weighted Average Price ( / Bbl) (4.24) 0.67 Henry Hub Fixed Price Swaps Total Volume…
Reconciliation of Adjusted EBITDAX to Net Income (Loss) Adjusted EBITDAX reconciliation ( thousands)1 Adjusted EBITDAX reconciliation to net income (loss): Q1 2018 Q2 2018 Q3 2018 Q4 2018 FY 2018 Q1 2019 Q2 2019 Q3 2019 Net income…
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