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2Q22 Earnings Presentation – Centennial Resource Development

Centennial Resource Development · Aug 3, 2022 · 13 slides

Investor presentation from the Shale Experts oil & gas presentation and slide database. Every page is imaged and its text indexed for search across operators, plays, basins and time.

Slides

  1. 2Q22 Earnings Presentation – Centennial Resource Development – slide 1
    AUGUST 3, 2022 1) Footer(s) Second Quarter 2022 Earnings Presentation 1
  2. 2Q22 Earnings Presentation – Centennial Resource Development – slide 2
    Q222 Company Highlights Generated record free cash flow of 137 million, a 55% increase compared to the prior quarter Ended the quarter with 200 million of cash Increased daily total production and oil production by 14% and 12%,…
  3. 2Q22 Earnings Presentation – Centennial Resource Development – slide 3
    Strong Operational & Financial Momentum Oil Production (MBo/d) Total Production (MBoe/d) EBITDAX1 ( mm) 36.7 70.2 297 34.5 65.1 62.6 61.4 33.5 32.7 217 187 171 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 2021 2021 2022 2022 2021…
  4. 2Q22 Earnings Presentation – Centennial Resource Development – slide 4
    CDEV Capital Structure & Liquidity Overview Actual CAPITAL STRUCTURE OVERVIEW (AS OF 6/30/22) (mm, unless otherwise noted) 6/30/22 Credit Facility currently undrawn Cash and cash equivalents 201.1 200mm of cash on hand Revolving…
  5. 2Q22 Earnings Presentation – Centennial Resource Development – slide 5
    Key Environmental Initiatives 2021 ESG HIGHLIGHTS1 Reduced Scope 1 GHG intensity rate by 30% Decreased methane intensity rate by 20% Reported natural gas flaring rate of 1.2% Increased recycled water volumes by 15% Limited both oil…
  6. 2Q22 Earnings Presentation – Centennial Resource Development – slide 6
    Centennial - Colgate Merger Update Announced merger of equals transaction on May 19 Cleared Hart-Scott-Rodino (HSR) requirements Preliminary Proxy Statement filed on June 10 Definitive Proxy Statement filed on July 28 Shareholder…
  7. 2Q22 Earnings Presentation – Centennial Resource Development – slide 7
    Establishing a Premier Permian Pure-Play Eddy On May 19, Centennial and Colgate Energy Northern Delaware (NM) announced a merger of equals, creating the largest 55,000 Net Lea Delaware Basin pure-play E&P company Acres…
  8. 2Q22 Earnings Presentation – Centennial Resource Development – slide 8
    Appendix 1) Footer(s) 9
  9. 2Q22 Earnings Presentation – Centennial Resource Development – slide 9
    Quarterly Financial Results Financial Summary (mm, unless otherwise noted)1 FY 2021 FY 2022 ( in millions, unless specified) Q1 Q2 Q3 Q4 FY 2021 Q1 Q2 Average Daily Production (Boe/d) 54,202 61,647 65,121 62,649 60,939 61,359 70,240…
  10. 2Q22 Earnings Presentation – Centennial Resource Development – slide 10
    Hedge Position Overview (as of July 31, 2022) FY 2022 FY 2023 FY 2024 Q3 Q4 Bal. 2022 Q1 Q2 Q3 Q4 2023 Q1 2024 WTI Fixed Price Swaps Total Volume (Bbl) 782,000 690,000 1,472,000 225,000 227,500 92,000 92,000 636,500 0 0 Daily Volume…
  11. 2Q22 Earnings Presentation – Centennial Resource Development – slide 11
    Reconciliation of Adjusted EBITDAX to Net Income (Loss) Adjusted EBITDAX Reconciliation ( thousands)1 FY 2021 FY 2022 ( in thousands, unless specified) Q1 Q2 Q3 Q4 FY 2021 Q1 Q2 Net income (loss) attributable to Class A Common…
  12. 2Q22 Earnings Presentation – Centennial Resource Development – slide 12
    Reconciliation of Free Cash Flow to Operating Cash Flow Free Cash Flow Reconciliation ( thousands)1 Three Months Ended June 30, ( in thousands) 2022 2021 Net cash provided by operating activities 294,979 107,279 Changes in working…
  13. 2Q22 Earnings Presentation – Centennial Resource Development – slide 13
    Reconciliation of Net Debt-to-LTM EBITDAX Net Debt-to-LTM EBITDAX Reconciliation ( thousands)1 ( in thousands) June 30, 2022 March 31, 2022 Long-term debt, net 801,849 801,203 Unamortized debt discount and debt issuance costs on…

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