Driving Cash Returns, Increasing Shareholder Value May 2022 ROCC
Firing on All Cylinders Focused on value-creation, with optionality Clear Business Disciplined investments, timely acquisitions, strong Strategy balance sheet and return of cash framework yield differentiated returns through-cycle…
First Quarter 2022 Highlights 65 MM of Free Cash Flow (FCF)(1) Significant Free Cash Flow(1) 161 MM of Adjusted EBITDAX(2) Adjusted net income(3) of 98.7 MM Achieved top end of sales guidance for oil and total Increased FY22…
Cash Allocation Framework We are executing our business strategy, generating Free Cash Flow and delivering strong returns for shareholders. -- Darrin Henke, ROCC CEO Strategic Objective Our Track Record Path Forward Reiterated FY22…
Accretive Eagle Ford Acquisitions Fit Bolt-on Acquisition Highlights Merged Asset Bases 17,000 net acres, contiguous with ROCCs existing acreage; increases working interest Strategic Fit Efficient integration with minimal cost or…
Deep, Quality and Highly-Delineated Inventory 20 Deep, High-Quality Eagle Ford Inventory 20 yr-inventory, with upside(1) Years of high-quality inventory 10 yrs: est. well-level IRR 100% at 80 WTI(2) 750 14 yrs: est. breakeven…
Industry Leading Margins Core Eagle Ford Acreage + Oil Cut + Two-Year Adj. EBITDAX Margin(2) Premium Pricing + Low Cost = Best-in- ROCC vs. Peer U.S. Public Operators Class Margins(1) LOE GPT 75 /boe Production Taxes Adj. G&A…
Illustrative ROCC Asset Value Potential Significant Asset Base Value Potential Enterprise value of 2.0 billion (40% discount ( MM) SEC Pricing(1) 80/4.00(1) to proved PV-10 value SEC pricing(1)) Proved Developed (PD) PV-10(2) 1,772…
Compelling Investment Thesis Oil Focused Producer in Core Eagle Ford Industry-Leading Margins 20-year Inventory of Highly-Economic Locations Premier Balance Sheet, Robust Free Cash Flow, Self-Funding Growth ESG…
Appendix
Company Overview Central Key Statistics FY22 Sales Outlook(1): ACREAGE Oil: 27.5 30.0 Mbbl/d ROCC Activity ROCC Total: 39.0 41.0 Mboe/d Peer Activity EOG MRO Proved Developed Reserves (D&M) at 12/31/21 CHK MGY Oil: 60 MMbbl COP…
ESG Leadership Sustainability Report 2H22: Inaugural Sustainability Report Reduce flaring by connecting wells to Minimizing pipelines prior to production Flaring & Emissions Transport majority of oil via pipeline, reducing vehicle…
Substantial Infrastructure, Access to Premium Markets Caldwell Harris 610 10 35 Fayette Colorado Fort Bend Chambers 10 45 Lavaca Gonzales Wharton Wilson Brazoria De Witt Jackson Karnes To Houston Matagorda Victoria…
Coveted Position in Consolidating Basin ROCC now one of the larger producers in the basin Operator Concentration by Basin Numerous sub-scale operators in fragmented Bubble Size represents average boe/d per Operator(1) Eagle Ford…
Strong, Predictable PDP Base Central Region ROCC Wells Drilled Fayette 2018 Focused asset base provides certainty, cost 2019 synergies and ongoing efficiencies 2020 2021 Peer Wells Drilled Highly delineated area both by Ranger…
Guidance Focus on returns and capital efficiency Sales 2Q22 2022 Free Cash Flow expected to be 250 MM(1) at Total Sales boe/d 37,100 38,600 39,000 - 41,000 current commodity prices Oil Sales - bbl/d 26,600 - 27,800 27,500 -…
Reconciliation of GAAP Realized prices to Non-GAAP Realized Prices, including Effects of Derivatives, Net Reconciliation of GAAP Realized prices to Non-GAAP Realized prices, including Effects of Derivatives, Net We present our realized…
Reconciliation of GAAP Net income (loss) to Non-GAAP Adjusted Net Income Reconciliation of GAAP Net income (loss) to Non-GAAP Adjusted Net Income Adjusted net income is a non-GAAP financial measure that represents net income (loss)…
Reconciliation of GAAP Net Income to Non-GAAP Adjusted EBITDAX - Actual Reconciliation of GAAP Net Income (loss) to Non-GAAP Adjusted EBITDAX - Actual Adjusted EBITDAX represents net income (loss) before (gain) loss on extinguishment of…
Reconciliation of GAAP Net Income to Non-GAAP Adjusted EBITDAX Pro Forma Reconciliation of GAAP Net income (loss) to Non-GAAP Adjusted EBITDAX - Pro Forma Adjusted EBITDAX represents net income (loss) before (gain) loss on extinguishment…
Reconciliation of GAAP Operating expenses to Non-GAAP Adjusted Direct Operating Expenses and Adjusted Direct Operating Expenses Per Boe Reconciliation of GAAP Operating expenses to Non-GAAP Adjusted Direct Operating Expenses and Adjusted…
Reconciliation of GAAP General and Administrative Expenses to Non- GAAP Adjusted Cash General and Administrative Expenses Reconciliation of GAAP General and administrative expenses to Non-GAAP Adjusted Cash General and Administrative…
Non-GAAP Reconciliation Free Cash Flow (FCF) Definition and Explanation of Free Cash Flow Free Cash Flow is a non-GAAP financial measure that management believes illustrates our ability to generate cash flows from our business that are…
Definition of Net Debt Net Debt Net debt is a non-GAAP financial measure that is defined as total principal amount of long-term debt, excluding unamortized discount and debt issuance costs, less cash and cash equivalents. Long-term debt…
Non-GAAP Reconciliation PV-10 Reconciliation of GAAP Standardized Measure of Discounted Future Net Cash Flows to Non-GAAP PV-10 Non-GAAP PV-10 value is the estimated future net cash flows from estimated proved reserves discounted at an…
Reconciliation of SEC PV-10 and Adjusted PV-10 (Non-GAAP) Total Proved Reconciliation of SEC PV-10 and Adjusted PV-10 (non-GAAP) Total Proved Reserves December 31, 2021 (in thousands) Standardized measure of future discounted cash…
Reconciliation of PV-10 and Adjusted PV-10 (non-GAAP) Proved Developed Reserves Reconciliation of SEC PV-10 and Adjusted PV-10 (non-GAAP) Proved Developed Reserves Non-GAAP PV-10 value is the estimated future net cash flows from…
Debt Adjusted PV-10 per Share Definitions Net Debt adjusted PV-10 Proved Reserves per Share Net debt adjusted PV-10 of proved reserves per share is a non-GAAP financial measure that is defined as PV-10 of proved reserves calculated using…
Loading...
