Q4 2019 CLICK TO ADD EVENT Earnings Presentation February 2020 INVESTOR PRESENTATION 3Q 2017 CLICK TO ADD DATE PARSLEYENERGY.COM
Parsley Energy Overview Parsley Energy Acreage(3) Recent Highlights GAINES DAWSON BORDEN Net Leasehold Acreage: 258,000 (97% Operated) Midland Published inaugural corporate responsibility Midland Basin: 148,000 ANDREWS Basin…
Delivered on 2019 Action Plan Guiding Principles 2019 Action Plan Accountability 2019 Year in Review Rate of Return (ROR)-driven approach to well selection Improve capital efficiency by 8-10%+ YoY(1) Achieved 19%+ YoY improvement…
Setting the Course for a Resilient Future Parsley comprehensively delivered on its 2019 Action Plan Eclipsed key financial targets and progressed various ESG initiatives Published inaugural Corporate Responsibility Report in December…
Committed to ESG Leadership Conducted materiality assessment following the Global Total Fluid Spill Rate(1) Reporting Initiative (GRI) framework of topic identification, stakeholder feedback, prioritization, and 0.200 Total Bbls…
Maintaining Urgency with 2020 Action Plan Guiding Principles For an optimal And Accountability Compelling Provide Foundation 2020 Action Plan will help achieve goals and Long-Term Targets Apply Rate of Return (ROR)-driven Improve…
Holding the Line on Capital Efficiency Gains Bolstered 2019 capital efficiency by pushing capital spend below bottom of FY19 budget 2020 Action Plan is designed to protect capital efficiency gains and grow free cash flow(1) Adding…
Maintaining Returns-Focused Development Approach Setting the Course with 2020 Outlook Continuing to budget at 50 WTI Enhanced free cash flow profile(1) 2020E Capex Breakdown DAWSON Sustained capital efficiency(2) Midland Delaware…
Defend and Extend Efficiency Gains Recalibrated both drilling and completion operations to a higher efficiency level in 2019 Drilling Efficiency Translated to More Footage with Less Equipment Enhanced drilling efficiency through…
Applying ROR-Focused Approach to JAG Assets Jagged Peak utilized NPV-focused development approach in 2H19 Recent production results are in-line with Parsleys risked expectations Capital costs trending lower than Parsleys initial…
JAG Synergy Scorecard Update Stock-for-stock, low-premium transaction ensured synergies accrue to all shareholders Modest premium was materially below present value of estimated G&A synergies(1) Integration success aligns with…
Strong, Flexible Financial Position Maintains Healthy Leverage Profile with Ample Borrowing Capacity All-stock consideration in Jagged Peak acquisition keeps leverage profile healthy Larger cash flow base and ample liquidity Modest…
2020 Guidance Summary Parsley 2019 Results 2020 Guidance 2020 Guidance Highlights Production Budgeting at 50 WTI with priorities including: Net Oil Production (MBo/d) 86.8 125.0-133.0 Sustain and grow free cash flow(3) profile Net…
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Consistently Efficient Reserve Growth Parsley YE19 total proved reserves up 14% YoY Proved Reserves Summary(4) Oil Gas NGL Total YE 2019 Three-year proved reserve CAGR of 39% (MMBbls) (Bcf) (MMBbls) (MMBoe) PD 206.8 472.2 96.2…
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…
Extensive Set of Reinvestment Opportunities 2020 Action Plan Publication Date: February 2020 Parsley Drill Spacing Unit (DSU)(1) Other Parsley Acreage Inventory Life: As of YE19 (232,000 net acres)(2) (26,000 net acres)(2) Similar…
Water Assets Parsley Water Company Dedicated Internal Water Team Water Assets Overview Formed PWC in 3Q19 with focus on Robust Water Infrastructure Network(1) PWC JAG enhancing capital efficiency: Active Saltwater Disposal Wells…
Building to Sustainable Free Cash Flow Minerals Ownership Minerals ownership enhances Parsleys sustainable free cash flow profile(1) Adds high margin production without any associated capex or operating expenses Surface ownership…
Operating Cash Margin Reconciliation Unaudited, in thousands Three Months Ended December 31, 2019 2018 Net (loss) income attributable to Parsley Energy, Inc. stockholders (36,369) 53,773 Net income attributable to noncontrolling…
Free Cash Flow (Outspend) Reconciliation Unaudited, in thousands Six Months Ended Six Months Ended Twelve Months Ended June 30, 2019 December 31, 2019 December 31, 2019 Net cash provided by operating activities 615,882 670,397…
Net Debt Reconciliation Unaudited, in thousands 2/4/2020 Revolving Credit Agreement due 2021 400,000 6.250% senior unsecured notes due 2024 400,000 5.375% senior unsecured notes due 2025 650,000 5.250% senior unsecured notes due…
CROCI Reconciliation Cash Return on Capital Invested (CROCI) CROCI is calculated by dividing the sum of cash flow from operations and after-tax interest expense by the sum of average gross property, plant and equipment and average…
Additional Reserves Disclosures Organic Reserves Replacement Ratio Parsley uses the organic reserves replacement ratio as an indicator of the Company's ability to replace the reserves that it has developed and to increase its reserves…
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