Core Oil Delaware Basin Pure-Play First Quarter 2021 Earnings Presentation May 4, 2021
Centennial Resource Development Overview Core Acreage and Strong Execution Track Record P Large, contiguous Acreage in core of the Northern & Southern Delaware 81,700 net acres Asset Map acreage position in the Delaware…
Centennial Resource Development Q121 Highlights Production and costs in-line with expectations Increased revenue and cash flow due to higher liquids revenue and significantly higher natural gas revenue Effectively managed winter…
Delivering on the Centennial 2.0 Game Plan Recent Operational and Financial Result Improvements P FCF+ for 3rd Sustainable FCF generation Free Cash Flow consecutive quarter Resumption of drilling and P Reduced 20%…
Efficiencies & Structural Design Changes Drive Lower Well Costs DC&F Cost Overview DC&F Cost / Lateral Foot - Extended Lateral Average (1.5 & 2 Section)1 1,400 Q121 wells delivered for 1,275 average gross cost of 795 / ft. 1,200…
Winter Storm Uri Update One-Time Impact of Winter Weather to Q121 LOE Expense (mm) Production and Revenue: Significant portion of production offline for a one-week period due to power outages 42 Increased natural gas revenue as a…
Convertible Note Offering March 2021 Convertible Note Offering Liquidity Evolution (mm) Issued 170mm of Senior Unsecured Convertible Notes 22% increase in 416 1 liquidity from Q4 2020 7-year maturity (+75mm) 3.25% coupon 30%…
Capital Structure & Liquidity Overview Capital Structure Overview Capitalization and Liquidity (mm) Pro forma borrowings of 291mm drawn on Credit Facility as of 3/31/21 3/31/21 (actual borrowings of 160mm due to convertible note…
Debt Maturity Profile Convertible Note Offering Strengthens Credit Profile Pro Forma Debt Maturity Profile as of 3/31/21 (mm) Credit Facility Borrowings 8.000% Sr. Secured Second Lien Notes 5.375% Sr. Unsecured Notes 6.875% Sr.…
Centennial 2.0: Investment Highlights Delivering on the Game Plan Investment Highlights Structural Well Cost Delaware Basin Pure-Play Reductions Hedge G&A Significant High-Quality Inventory Protection Savings Sustainable Proven…
Appendix 12
Quarterly Financial Results Financial Summary (mm, unless otherwise noted)1 FY 2020 FY 2021 ( in millions, unless specified) Q1 Q2 Q3 Q4 Q1 Average Daily Production (Boe/d) 71,820 68,245 68,934 59,708 54,202 Average Daily Oil…
Hedge Position Overview Hedge Position Overview (as of April 30, 2021) FY 2021 FY 2022 Q2 Q3 Q4 Bal. 2021 Q1 WTI Fixed Price Swaps Total Volume (Bbl) 1,183,000 736,000 644,000 2,563,000 45,000 Daily Volume (Bbl/d) 13,000 8,000 7,000…
Reconciliation of Adjusted EBITDAX to Net Income (Loss) Adjusted EBITDAX reconciliation ( thousands)1 FY 2020 FY 2021 ( in thousands, unles s specified) Q1 Q2 Q3 Q4 Q1 Net incom e (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 March 31, ( in thousands) 2021 2020 Net cash provided by operating activities 72,346 100,818…
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