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January 2015 Investor Presentation – Concho Resources, Inc.

Concho Resources, Inc. · Jan 5, 2015 · 14 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. January 2015 Investor Presentation – Concho Resources, Inc. – slide 1
    January 2015 Investor Presentation
  2. January 2015 Investor Presentation – Concho Resources, Inc. – slide 2
    Concho Resources Inc. Leading Permian Basin Operator Company Overview Permian Basin Strategic acreage position in the Permian Basin 1.2mm gross (605,000 net) acres(1) 22,000 drilling locations; 3Bn Boe of resource…
  3. January 2015 Investor Presentation – Concho Resources, Inc. – slide 3
    2015 Capital Program Well Positioned with Significant Operational Flexibility Capital Program Overview Drilling & Completion Capital Allocation Demonstrating capital discipline 11% Preserving financial strength and liquidity top…
  4. January 2015 Investor Presentation – Concho Resources, Inc. – slide 4
    Track Record of Measured Growth Track Record of Measured Growth & Prudent Financial Management 45 4.0x 2007 to 2013 40.3 - 41.7 40 Production CAGR: 37% 35 Avg. Debt-to-EBITDAX(1) Ratio: 1.8x 33.6 3.0x Annual Production…
  5. January 2015 Investor Presentation – Concho Resources, Inc. – slide 5
    Northern Delaware Basin Well Performance (Boepd)(1) Deep 30-day avg. peak Boepd / 24-hour avg. peak 1,000 Lusk 3Q14 1,015 220 40 wells 1,576 343 2Q14 931 200 31 wells 1,420 304 Red Hills 1Q14 909 210 State Line 39…
  6. January 2015 Investor Presentation – Concho Resources, Inc. – slide 6
    Program Efficiencies & Completion Improvements Northern Delaware Basin 2nd Bone Spring Upsized Completion vs. Base Completion(1) +25% 160 AVG. STAGES PER WELL 140 Avg. Cumulative Production (MBoe) 120 Base Upsized 75%…
  7. January 2015 Investor Presentation – Concho Resources, Inc. – slide 7
    Northern Delaware Basin Significant Inventory of High-Return Locations Northern Delaware Basin acreage: Average Peak Rate (Boepd) YE13 Gross Well Count (1) 365,000 gross (217,000 net) 30-Day 24-Hour Inventory Brushy Canyon 10…
  8. January 2015 Investor Presentation – Concho Resources, Inc. – slide 8
    Southern Delaware Basin Delivering strong well performance North Harpoon North Harpoon Currently producing from the Wolfcamp A & B zones Testing spacing patterns Big Chief Currently producing from the Wolfcamp A & 2nd Bone…
  9. January 2015 Investor Presentation – Concho Resources, Inc. – slide 9
    Midland Basin Core Midland Basin acreage position with multi-zone potential 2,500 horizontal Spraberry and Wolfcamp locations Currently running 5 horizontal rigs Strong well performance Extensive drilling and completion…
  10. January 2015 Investor Presentation – Concho Resources, Inc. – slide 10
    New Mexico Shelf Deep inventory of high return, low cost locations Horizontal Yeso: 1,250 locations Vertical Yeso: 1,100 locations Current program Running 2 horizontal rigs, targeting Yeso Strong horizontal Yeso well…
  11. January 2015 Investor Presentation – Concho Resources, Inc. – slide 11
    Key Takeaways Largest Permian pure play Significant inventory delivering industry-leading well results across the Permian Basin Program efficiencies and completion improvements maximizing well productivity and returns Well…
  12. January 2015 Investor Presentation – Concho Resources, Inc. – slide 12
    Northern Delaware Basin Brushy Canyon Brushy Canyon Testing across State Line Deep Avalon Avalon shale Lusk Testing slickwater completions 1st Bone Spring Pilot program in Red Hills testing well density 2nd Bone Spring 2nd…
  13. January 2015 Investor Presentation – Concho Resources, Inc. – slide 13
    2015 Operational & Financial Guidance (as of 1/5/2015) Production Year-over-year growth 16% - 20% Oil mix 63% - 65% Price realizations, excluding commodity derivatives (% of NYMEX) Crude oil (per Bbl) 90% - 93% Natural gas (per Mcf)…
  14. January 2015 Investor Presentation – Concho Resources, Inc. – slide 14
    Hedges (as of 1/5/2015) 2015 4Q14 1Q 2Q 3Q 4Q T otal 2016 2017 Oil Swaps: (a) V olume (Bbl) ............................... 4,633,000 4,240,000 3,91 9,000 3,654,000 3,449,000 1 5,262,000 9,349,000 1 68,000 Price per Bbl…

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