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5th Annual Credit Suisse Small Mid Cap Conference – Parsley Energy Inc.

Parsley Energy Inc. · Sep 17, 2014 · 25 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. 5th Annual Credit Suisse Small Mid Cap Conference – Parsley Energy Inc. – slide 1
    Investor Presentation September 2014
  2. 5th Annual Credit Suisse Small Mid Cap Conference – Parsley Energy Inc. – slide 2
    Parsley Energy Overview Market Snapshot Premier Acreage Position NYSE Symbol: PE Legend Market Cap(1): 2,585 million Parsley Acreage Pending Acreage Net Debt(2): 35 million Enterprise Value: 2,620 million Shares Outstanding(2):…
  3. 5th Annual Credit Suisse Small Mid Cap Conference – Parsley Energy Inc. – slide 3
    Top-Tier Operator with Leading Growth Profile Investment Highlights Midland Basin Acreage Exceptional initial horizontal well results Initial horizontal well results among best in Midland Basin First horizontal well produced 100,000…
  4. 5th Annual Credit Suisse Small Mid Cap Conference – Parsley Energy Inc. – slide 4
    Track Record of Rapid Growth Parsley has grown from a contract operator with zero production to a leading producer in the Basin Proven ability to grow production through the drill-bit and strategic acquisitions Established vertical…
  5. 5th Annual Credit Suisse Small Mid Cap Conference – Parsley Energy Inc. – slide 5
    Superior Vertical Well Results and Operations Creaming curve (Vertical wells since 2008) 6,000 First 3 months cumulative production 4,000 Parsley (Mboe) See zoomed-in chart 2,000 0 0 200 400 600 800 Wells (oldest to…
  6. 5th Annual Credit Suisse Small Mid Cap Conference – Parsley Energy Inc. – slide 6
    Best Initial Horizontal Well Results Creaming curve (Horizontal wells since 2008) 3,000 First 3 months cumulative production 2,500 2,000 Parsley (Mboe) 1,500 See zoomed-in chart 1,000 500 0 0 10 20 30 40 50 60…
  7. 5th Annual Credit Suisse Small Mid Cap Conference – Parsley Energy Inc. – slide 7
    Strong Horizontal Well Results out of the Gate Horizontal Well Results - Ranked by Peak 30-day IP per 1,000' Stimulated Lateral 226 Boe/d per 1,000' Stimulated 2,500 250 207 199 180 176 174 2,000 200 154 Lateral 1,500…
  8. 5th Annual Credit Suisse Small Mid Cap Conference – Parsley Energy Inc. – slide 8
    Strong Horizontal Well Results across Core Acreage Position Legend Well Name Number Parsley Acreage Lateral Length IP Boe/d Pending Acreage Midland Basin Midland Midland Basin Basin Core Tier I Shackelford 72HB 4,874 IP30 878…
  9. 5th Annual Credit Suisse Small Mid Cap Conference – Parsley Energy Inc. – slide 9
    Premier Acreage Position Acreage in deepest, thickest portion of the Midland Basin Basin Thick contributes to higher: Pressure Productivity Dusek 45 11 Resource potential Spraberry Number of discrete target horizons Wolfcamp A…
  10. 5th Annual Credit Suisse Small Mid Cap Conference – Parsley Energy Inc. – slide 10
    Leading Growth Profile Substantial Drilling Inventory Parsley Energy Currently counting 6 Dusek 45 11 benches in inventory Net Horizontal Undrilled Locations(1) Potential for delineation Core(2) Tier I(3) Total(4) of additional…
  11. 5th Annual Credit Suisse Small Mid Cap Conference – Parsley Energy Inc. – slide 11
    Adding to Premier Acreage Position Proven ability to strategically supplement core acreage Midland Basin Acquisitions position On August 25, 2014, PE announced an acquisition of 5,472 net acres in Reagan County for 252 million…
  12. 5th Annual Credit Suisse Small Mid Cap Conference – Parsley Energy Inc. – slide 12
    Capital Program and Liquidity Update Budgeted development capex for second half 2014 of Focused Horizontal Development 260-300 million Legend More than 75% of development capex allocated to Parsley Acreage Midland Basin Core Pending…
  13. 5th Annual Credit Suisse Small Mid Cap Conference – Parsley Energy Inc. – slide 13
    Managing Growth - Takeaway Recently completed pipeline agreement establishes direct connectivity to Colorado City Covers roughly half of estimated crude production at beginning of 2015 and bulk of anticipated oil volume growth WTI…
  14. 5th Annual Credit Suisse Small Mid Cap Conference – Parsley Energy Inc. – slide 14
    Managing Growth - Costs Demonstrated ability to generate efficiencies and Vertical Wells Spud per Quarter drive down costs during aggressive vertical rig ramp 50 Dropped one vertical rig in 47 4Q13 45 42 42 40 38 Large scale…
  15. 5th Annual Credit Suisse Small Mid Cap Conference – Parsley Energy Inc. – slide 15
    Managing Growth - Hedge Position Oil Positions Q4-2014 2015 2016 Put Spreads (Bbl/day) 641 4,082 7,896 Put Price (/Bbl) 90.00 86.14 85.42 Short Put Price (/Bbl) 62.71 61.01 67.96 Three Way Collars (Bbl/day) 3,315 2,247 1,011…
  16. 5th Annual Credit Suisse Small Mid Cap Conference – Parsley Energy Inc. – slide 16
    Summary Executing Growth Plan Abundant Upside Potential Initial horizontal well results among best in Midland Basin Rapid Resource Room to run, with 1,600+ horizontal drilling locations in the heart of the Midland Basin, Conversion…
  17. 5th Annual Credit Suisse Small Mid Cap Conference – Parsley Energy Inc. – slide 17
    Appendix
  18. 5th Annual Credit Suisse Small Mid Cap Conference – Parsley Energy Inc. – slide 18
    Acreage Characteristics Wolfcamp Thickness Isopach Top of Wolfcamp Structure Map Core and Tier 1 defined by differential depth, thickness, thermal maturity, and historical Wolfberry vertical well returns. 19
  19. 5th Annual Credit Suisse Small Mid Cap Conference – Parsley Energy Inc. – slide 19
    Leading Growth Profile Sizeable Acreage Position in Heart of Midland Basin Net Surface Acreage(1) Core Tier 1 Total Parsley Energy 42,011 29,219 71,230 Dusek 45 11 Net Effective Acreage(1) Core Tier I Total Lower Spraberry…
  20. 5th Annual Credit Suisse Small Mid Cap Conference – Parsley Energy Inc. – slide 20
    Q2 2014 Review Q2 2014 Highlights Average Daily Net Production (Boe/d) Completed a successful initial public offering, raising more 15,000 than 1 billion in gross proceeds 13,995 Increased average production 53% QoQ to 14.0…
  21. 5th Annual Credit Suisse Small Mid Cap Conference – Parsley Energy Inc. – slide 21
    Q2 2014 Select Operating Data Quarter Ended June 30, March 31, June 30, 2014 2014 2013(1) Net Production Volumes: Oil (MBbls) 654 491 236 Natural gas (MMcf) 2,020 1,016 1,197 NGLs (MBbls) 283 165 n.a. Total (Mboe)(2) 1,274 825…
  22. 5th Annual Credit Suisse Small Mid Cap Conference – Parsley Energy Inc. – slide 22
    2H 2014 Guidance Average Costs (Per Boe) Horizontal Drilling Activity 10.00 1H14 2H14E 10% 1H14 2H14E 25 8.00 8% 20 6.00 6% 15 7.00 7.00 6.0% - - - 4.00 7.95 4% 10 18-22 6.94 8.00 8.00 7.0% 6.1% 13-17 2.00 2% 5 7 5 0.00…
  23. 5th Annual Credit Suisse Small Mid Cap Conference – Parsley Energy Inc. – slide 23
    Southern Delaware Exploration Program Parsleys Southern Delaware Basin exhibits many of the History of Prolific Wells near Trees Ranch characteristics that have driven superior well results in the Midland Basin Core Drilled in 1973…
  24. 5th Annual Credit Suisse Small Mid Cap Conference – Parsley Energy Inc. – slide 24
    Reserves and Value Reserve summary, as of 12/31/13, prepared by Netherland, Sewell & Associates, Inc. (NSAI) No horizontal locations in proved reserves In 1H14, Parsley spent 196 million on drilling and completion; the reserves table…
  25. 5th Annual Credit Suisse Small Mid Cap Conference – Parsley Energy Inc. – slide 25
    Credit Metrics Liquidity Debt Maturity 327.5 600 550 First lien borrowing base First lien outstanding (letter of credit) (0.3) 400 328 First lien available 327.2 Cash(1) 271.5 200 Total liquidity 598.7 0 2014 2015 2016…

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