RSP Overview Market Snapshot Permian Basin Pure Play NYSE Symbol: RSPP Market Cap(1): 2.1 billion Net Debt(2): 0.0 billion Dawson Area Enterprise Value: 2.1 billion Pro Forma Production and Reserves(3) Average Daily Production…
Q2 2014 Financial Update Financial Update Net Daily Production (2) During Q2 2014, production averaged approximately 10.7 Boe/d 12,000 MBoe/d, a production increase of 15% over Q1 2014 and an increase of 43% over Q2 2013 10,714 RSP…
Contiguous Acreage in the Core of the Midland Basin Overview RSPs Acreage in the Midland Basin Large, contiguous, core acreage in the Midland Basin(1) Permian pure-play with 63,035 gross (46,738 net) acres Over 178,000 net effective…
Acquisitions Increase RSPs Drilling Inventory in Core of Midland Basin Midland Basin Acquisitions Acquisitions Map In Q1 2014, RSP completed 79 million of acquisitions adding 5,316 net acres and 280 horizontal locations and 150…
Pending Acquisitions Create Another Primary Operating Area for RSP Acquisition Acreage Offset by Significant Industry Activity Pioneer OXY Houston Ranch 1H,10H,11H Existing RSP Permian acreage Powell Ranch 151HC Permitted Location…
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RSPs Focus Areas Are in the Most Prolific Areas of the Midland Basin RSPs Acreage Midland Basin Historical Oil Production Heat Map Borden Dawson Area Dawson Area Focus Areas Focus Areas Best-month oil production (bbl) 6,000…
Leader in Multiple Pay Zones in the Midland Basin RSP Permian and other industry players have unlocked multiple target zones for horizontal drilling RSP Success / Industry Commentary Industry Horizontal Drilling Targets Formations…
Current Activity Focused on Capital Efficiency Operations Update Activity Map Johnson Ranch 912 Currently operating two vertical rigs Andrews Cross Bar Ranch 1717 Currently operating four horizontal rigs (4th operated Dawson…
Accelerating Production Growth Through Horizontal Program RSP has grown production at a 70% CAGR since its inception, excluding sales and acquisitions RSPs horizontal focus is driving recent production growth and future anticipated…
Extensive Multi-Year Drilling Inventory with Strong Rates of Return Identified Vertical Highlights Identified Horizontal Locations Locations Multi-year inventory of horizontal and 3,250 vertical drilling projects 3,000 Multiple…
Large, Concentrated Acreage Blocks Provide Operating Advantages Large, Concentrated Acreage Blocks Map of Focus Areas RSP leasehold positioned for horizontal development North to South blocked-up position, which lays out ideally for…
Wolfcamp A/B Spacing Pilot Encouraging Early Results Cross Bar Ranch 1717H Wolfcamp A/B Pilot Map of Cross Bar Ranch 1717 1717WA 30-day IP: 928 Boe/d (84% oil) 1717WB 30-day IP: 867 Boe/d (88% oil) Treating pressures during zipper…
Wolfcamp A/B Horizontals Continue to Exceed Expectations RSP Activity Wolfcamp A/B Cumulative Production (1) 140,000 12 operated Wolfcamp A/B wells on production, Average Wolfcamp wells 120,000 tracking higher than RSP with 5 more…
Lower Spraberry Results Also Exceeding Expectations RSP Activity Lower Spraberry Cumulative Production (1) 140,000 7 operated Lower Spraberry wells producing, with 4 120,000 Lower Spraberry wells more drilling / completing…
Early Middle Spraberry Results Reflect Potential RSP Activity Middle Spraberry Cumulative Production (1) 3 operated Middle Spraberry wells producing, with 3 140,000 more drilling / completing 120,000 Early Middle Spraberry results…
Spraberry Potential Provides Additional Upside Leader in the Spraberry Substantial Horizontal Spraberry Inventory - Net Locations RSP was the first operator to drill horizontal Lower 600 585 Spraberry and horizontal Middle Spraberry…
Consistent Pay Intervals Across RSPs Contiguous Acreage Position Midland to Dawson Co. Stratigraphic Cross Section West to East Geologic Analog All target intervals are present across RSPs acreage Similar log characteristics with…
Midland Basin Horizontal Wells Industry Activity RSPs successful Wolfcamp results are complemented by nearby operators announcements Map of Midland Basin Activity Garza Pioneer Lynn Kent University 7-43 10H (Wolfcamp D / Cline) RSP…
Horizontal Spraberry Activity Strong Early Results Map of Spraberry Activity RSP Permian Pioneer Cross Bar Ranch 2017LS (Lower Spraberry) University 7-43 16H (Lower Spraberry) Completing 24-hr IP: 1,660 Boe/d Cum: 73 MBoe 7,168…
RSPs Remaining Multi-Zone Development Projects For 2014 Commentary 2014 Planned Horizontal Wells 1. Johnson Ranch 1018 & 1019 - 2-well stacked offsetting pads for Wolfcamp B Wolfcamp A spacing pattern test. Project on 6 3D Shoot 1…
Horizontal Well Costs Coming Down Capital costs decreasing due to experience, efficiencies, completion / well design optimization, and pad development Operated Horizontal Drilling & Completion Costs Per Average Operated Drilling Costs…
RSPs Financial Strategy and Capitalization Financial Strategy Capitalization (1) Preserve financial strength ( in millions) 6/30/2014 As Adjusted Cash 15 15 Ensure plenty of capital availability to execute Revolving Credit Facility…
Capital Budget and Hedging Detail All production inputs are engineered Drilling program modified as needed to re-focus on most attractive opportunities within portfolio 2014 Capital Budget Hedging Detail Total Drilling & Completion…
Adjusted EBITDAX and Adjusted Net Income Reconciliation Adjusted EBITDAX and Adjusted Net Income Reconciliation ( in thousands, except per unit amounts) RSP Permian, Inc. Pro Forma Actual & Predecessor Quarter Ended Quarter Ended…
Identified Opportunities for Future Upside RSPs well costs are decreasing and IP rates outperforming type curves, leading to Increased Economics/ increasing economics Locations RSP evaluating increasing lateral density and drilling…
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