ACQUISITION OF JAGGED PEAK ENERGY SEPTEMBER 25, 2018 INVESTOR PRESENTATION 3Q 2017 OCTOBER 14, 2019 PARSLEYENERGY.COM
Important Disclosures No Offer or Solicitation Communications in this presentation do not constitute an offer to sell or the solicitation of an offer to subscribe for or buy any securities or a solicitation of any vote or approval with…
Cautionary Statement Regarding Forward-Looking Information Certain statements in this presentation concerning the proposed transaction, including any statements regarding the expected timetable for completing the proposed transaction,…
Parsley Acquisition of Jagged Peak A Natural Extension in the Permian Complementary and Contiguous Oil-Weighted Production and Inventory with Industry Leading Margins Low-Premium Transaction is Accretive to Cash Flow per Share,…
Preliminary Pro Forma 2020 Outlook Preliminary 2020 Outlook Enhanced and growing free cash flow profile(1) Continuing to budget at 50 WTI Returns-focused development approach still driving capital allocation mix Slightly moderating…
Transaction Overview Transaction Details Pro Forma Parsley Positioning All Stock, Low Premium Transaction Parsley Acreage Transaction valued at 2.27 billion, including the Jagged Peak Acreage assumption of 625 million of Jagged Peak…
Strategic Course Remains Unchanged Guiding Principles Merger is Accretive to Set Strategic Delivering on 2019 Action Plan Long-Term Targets Course Rate of Return (ROR)-driven approach to well selection Achieving a step-change…
Dialed in to Permian Scale Sweet Spot Efficient allocation of capital within the Permian requires sufficient scale Parsley believes optimal scale both retains corporate agility and ensures a voice in service market Measuring Permian…
Prioritizing Sustainable Free Cash Flow Margin Insulation Combines teams that have prioritized cost vigilance and have delivered robust operating margins Corporate cost optimization facilitates further margin expansion…
Synergy Scorecard Stock-for stock, low-premium transaction ensures synergies accrue to all shareholders Annual Value Commentary Timing (Low High) Primary Synergy G&A and operational synergies expected to be realized in near 25…
Synergy Spotlight Delaware Well Costs Parsley significantly reduced Delaware well costs over the past 12 months despite more upsized fracs Aim to reduce Jagged Peaks targeted well cost by at least 100/ft Collaborative implementation…
Synergy Spotlight Acreage Overlap and Water Infrastructure Adjoining Positions Increase Returns Expands Company-Owned Water Business Parsley Jagged Peak JAG SWD JAG Source Water Wells JAG Pit Locations JAG SWD Pipeline JAG…
Strong, Flexible Financial Position Maintains Healthy Leverage Profile with Ample Borrowing Capacity Pro forma Parsley leverage remains healthy, consistent with that of standalone Parsley Larger cash flow base, modest debt levels…
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Pro Forma Hedge Position Open Crude Oil Derivatives Positions 1Q20 2Q20 3Q20 4Q20 Hedging Strategy OPTION CONTRACTS CUSHING Swaps Cushing (MBbls/d)(1) 20.0 20.0 20.0 20.0 Swap Price (/Bbl) 58.25 58.25 58.25 58.25 Methodical,…
Parsley Energy Standalone Adj. EBITDAX and Net Leverage Ratio Reconciliations Unaudited, in thousands 3Q18 4Q18 1Q19 2Q19 Adjusted EBITDAX reconciliation to net income: Net income (loss) attributable to Parsley Energy, Inc.…
Pro Forma Adj. EBITDAX and Net Leverage Ratio Reconciliations Unaudited, in thousands 3Q18 4Q18 1Q19 2Q19 Adjusted EBITDAX reconciliation to net income: Net income (loss) attributable to stockholders 86,743 240,119 (118,952) 157,842…
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