Core Oil Delaware Basin Pure-Play Second Quarter 2021 Earnings Presentation August 3, 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 Q221 Highlights Generated record free cash flow of 34mm, representing fourth consecutive quarter of positive FCF Expect FY21 FCF of 140 - 170mm1 Continued debt repayment and rapid organic…
Progress Report on Key 2021 Targets Initial 2021 Targets1 Updated 2021 Targets2 P Expect to generate 140 - 170mm Generate 55-75mm of FCF of FCF P Remain committed to current two-rig Operate two-rig drilling program…
Q2 2021 Operations Dashboard Continuing to Drive Strong Operational Efficiencies Q221 wells delivered for average Spud to Rig Release (Days) Lateral Length (Feet) gross cost of 800 / ft.1 % Two Section Laterals 100% 37% reduction…
Delivering Strong Well Results Across Position Q2 Well Highlights Chorizo 500 Pad Review Delivered strong Q2 results across multiple Chorizo 500 pad: returned to an existing producing unit with significant stacked pay formations in…
Q2 2021: Executing on Game Plan 1 Normalized Oil Production (Bo/d) 2 Significant Reduction in Unit Costs ( / Boe) 3 Free Cash Flow Supporting De-leveraging Returned to normalized production levels after Decreased total unit costs,…
Capital Structure & Liquidity Overview Overview Capitalization and Liquidity ( mm) Borrowings of 255mm drawn on Credit Facility as of 6/30/21 Q1 Pro Forma Q2 Actual 446mm of liquidity at 6/30/21 Capitalization 3/31/211 6/30/21…
Quarterly Financial Results Financial Summary (mm, unless otherwise noted)1 FY 2020 FY 2021 ( in millions, unless specified) Q1 Q2 Q3 Q4 Q1 Q2 Average Daily Production (Boe/d) 71,820 68,245 68,934 59,708 54,202 61,647 Average Daily…
Hedge Position Overview Hedge Position Overview (as of July 31, 2021) FY 2022 Q3 Q4 Bal. 2021 Q1 Q2 Q3 Q4 2022 WTI Fixed Price Swaps Total Volume (Bbl) 782,000 828,000 1,610,000 1,035,000 819,000 552,000 460,000 2,866,000 Daily…
Reconciliation of Adjusted EBITDAX to Net Income (Loss) Adjusted EBITDAX reconciliation ( thousands)1 FY 2020 FY 2021 ( in thous ands, unless specified) Q1 Q2 Q3 Q4 Q1 Q2 Net income (loss) attributable to Clas s A Common Stock…
Reconciliation of Free Cash Flow to Operating Cash Flow Free Cash Flow (Deficit) reconciliation ( thousands)1 Three Months Ended June 30, ( in thousands) 2021 2020 Net cash provided by operating activities 107,279 (16,315)…
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