Delaware Basin Pure-Play Third Quarter 2021 Earnings Presentation November 3, 2021
Centennial Resource Development Overview Core Acreage and Strong Execution Track Record P FCF profile Generated FCF for five consecutive quarters Asset Map (75,500 Net Acres)3 supports organic NM: Expect Net Debt / LTM EBITDAX to…
Centennial Q3 2021 Earnings Highlights Generated record free cash flow of 77mm, fifth consecutive quarter of positive FCF Improved 125% free cash flow growth and 35% EBITDAX Cash Flow growth quarter-over-quarter Profile Raising FY21…
Q3 2021 Financial Results Summary Operational execution & higher commodity prices driving accelerated FCF generation & de-leveraging Total Production (MBoe/d) Total Revenues ( mm) EBITDAX ( mm) Oil Gas & NGL Oil Gas & NGL +6% 65.1…
Credit Facility Repayment Enhanced With Asset Sale Illustrative YTD 2021 Credit Facility Repayment Profile ( mm) Southern Reeves County Divestiture Overview Organic Debt Reduction 330 105 Strategic Transaction Pending non-core…
Accelerating Free Cash Flow and Leverage Targets Overview Evolution of 2021E Targets1 Centennial is increasing its FY21 FCF and FY21 Free Cash Flow Estimates ( mm) organic de-leveraging targets for the second consecutive quarter…
Q3 2021 Highlight Wells New Mexico: Continued execution in Lea County, driving strong well performance Texas: Wolfcamp C delineation success Mozzarella / Gouda Pad (NM) Crunch Berry Pad (NM) Highlander West Deep C09H (TX) 50 50…
Capital Structure & Liquidity Overview Recent Highlights Capitalization and Liquidity ( mm) Repaid 50mm of borrowings during Q321; currently 205mm drawn on RCF Q3 Actual Increased liquidity 11% QoQ to 494mm Capitalization 9/30/21…
Hedge Position Provides Significant Upside Exposure Hedge book designed to Oil Hedges (Bo/d) and Wtd. Avg. Price (/Bbl)1 provide balance between downside protection and 20,000 80 WTI Hedges upside exposure Brent Hedges Weighted…
FY 2021 Updated Guidance Summary Guidance Summary Updated FY 2021 Guidance Summary Updated guidance ranges reflect YTD results and FY 2021 Guidance anticipated Q4 development plans Update Continue to operate a 2-rig drilling…
2021 Execution Provides Strategic Flexibility Key 2021 Target and Results P Generate Free Cash Flow & Expect to generate FCF of 200 - 220mm Further Improve Liquidity Increased liquidity by 154mm, or 45%, YTD P Execute on…
Hedge Position Overview Hedge Position Overview (as of October 31, 2021) FY 2021 FY 2022 FY 2023 Q4 Q1 Q2 Q3 Q4 2022 Q1 Q2 2023 WTI Fixed Price Swaps Total Volume (Bbl) 828,000 1,080,000 1,092,000 736,000 644,000 3,552,000 45,000…
Reconciliation of Adjusted EBITDAX1 to Net Income (Loss) Adjusted EBITDAX reconciliation ( thousands)1 FY 2020 FY 2021 ( in thousands, unless specified) Q1 Q2 Q3 Q4 Q1 Q2 Q3 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 September 30, Nine Months Ended September 30, ( in thousands) 2021 2020 2021 2020 Net cash provided…
Loading...
