Centennial Resource Development Overview Core Acreage and Strong Execution Track-Record P Asset Map Acreage in core of the Northern & Southern Delaware Large, contiguous 81,700 net acres acreage position in the Delaware Basin…
Q4 Highlights and 2021 Overview Q420 Financial and Operational Highlights Generated free cash flow and reduced total debt for the second consecutive quarter Added second operated drilling rig in late Q4 2020 Achieved record…
Maintaining Strong Execution 2020 Actuals vs. Guidance FY 2020 production slightly above updated mid-point of FY 2020 Actuals vs Guidance guidance on both oil and oil equivalents Q3'20 Updated FY 2020 Total unit costs at or below the…
Key Environmental Initiatives Flared 0.5% of Significant reduction in flared gas volumes natural gas volumes Set a 2021 target of 1% flared gas in Q420 Recycled and reused 4.8 MM Bbls of water in FY20 60% increase in Reduces…
2021 Development Plan Overview Increasing Capital Efficiency Operational Focus Items Average Lateral Length (ft.) Avg. Wells Completed / Rig / Year1 Extending lateral length to drive 8,800' capital efficient development 18 - 22…
Recent Projects Have Significantly Reduced LOE Review of LOE Cost Initiatives Historical LOE Expense (mm) Completed final phase of Centennials electric 42 substation and associated feeder lines in Q420 40% reduction in quarterly 39…
Well Cost Evolution Lower Well Costs Driven by Higher Efficiencies & Structural Cost Reductions Review of DC&F Cost Initiatives DC&F Cost / Lateral Foot - Extended Lateral Average (1.5 & 2 Section)1 Higher drilling and completion…
Acreage Position Overview Acreage Status Update (YE 2020) Asset Map FY20 Acreage Addition Current Delaware Basin leasehold1 of 81,657 net acres (71% TX / 29% NM) Increased total net acreage by 3,500 net acres year-over-year…
Capital Structure & Liquidity Overview Capital Structure Overview at 12/31/20 Capitalization and Liquidity ( mm) Actual Free cash flow of 30mm utilized for 25mm in debt payments under Capitalization 12/31/20 revolver during Q420…
No Near-Term Debt Maturities Debt Maturity Schedule ( mm) Credit Facility Borrowings 8.000% Second Lien Secured Notes 5.375% Senior Unsecured Notes 6.875% Senior Unsecured Notes 700 Borrowing Base 668 Facility…
FY 2021 Guidance Summary Guidance Summary FY 2021 Guidance Summary Currently plan to operate a 2-rig program FY 2021 Guidance in FY 2021 Production Net Average Daily Production (Boe/d) 56,000 - 63,000 Anticipate full-year average…
Centennial 2.0: The Path Forward Q4 2020 FY 2021 FY 2022+ Added a second drilling rig and Plan to operate a two-rig Generate free cash flow down returned to normalized drilling program to a low-40s / Bbl oil price activity levels…
Centennial 2.0: Final Thoughts High-Quality Asset Base Proven Operational Execution Sustained Well Cost Reductions Improved Capital Lower Unit Cost Structure Efficiency & FCF Profile Shallowing Corporate Decline Rate No…
Crude Oil Hedge Position Overview Hedge Position Overview (as of February 19, 2021) FY 2021 Q1 Q2 Q3 Q4 2021 WTI Fixed Price Swaps Total Volume (Bbl) 990,000 1,183,000 736,000 644,000 3,553,000 Daily Volume (Bbl/d) 11,000 13,000…
Natural Gas Hedge Position Overview Hedge Position Overview (as of February 19, 2021) FY 2021 FY 2022 Q1 Q2 Q3 Q4 2021 Q1 2022 Henry Hub Fixed Price Swaps Total Volume (MMBtu) 5,400,000 3,640,000 3,680,000 3,680,000 16,400,000…
Reconciliation of Adjusted EBITDAX to Net Income (Loss) Adjusted EBITDAX reconciliation ( thousands)1 FY 2020 ( in thousands, unless specified) FY 2019 Q1 Q2 Q3 Q4 FY 2020 Net income (loss) attributable to Class A Common Stock…
Reconciliation of Free Cash Flow to Operating Cash Flow Free Cash Flow (Deficit) reconciliation ( thousands)1 Three Months Ended December 31, Six Months Ended December 31, ( in thousands) 2020 2019 2020 2019 Net cash provided by…
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