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Howard Weil Energy Conference – Concho Resources, Inc.

Concho Resources, Inc. · Mar 23, 2015 · 17 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. Howard Weil Energy Conference – Concho Resources, Inc. – slide 1
    Investor Presentation HOWARD WEIL ENERGY CONFERENCE MARCH 2015
  2. Howard Weil Energy Conference – Concho Resources, Inc. – slide 2
    Concho Resources Strategic acreage position in the Permian Basin 1.1 MM gross (700,000 net) acres Core areas in the Delaware Basin, Midland Basin and New Mexico Shelf High quality, long life reserve base 637.2 MMBoe estimated…
  3. Howard Weil Energy Conference – Concho Resources, Inc. – slide 3
    Dynamics of U.S. Oil Production, Price and Rig Count 160 1,800 CXO Performs through Cycles Proven strategy and high-quality assets endure price cycles 140 Drilling program flexible to lower commodity prices 1,600 Service costs…
  4. Howard Weil Energy Conference – Concho Resources, Inc. – slide 4
    Track Record of Measured Growth 2014 Production Growth Track Record of Measured Growth, 22% Prudent Financial Management 45 4.0x Year-over-Year 40.9 40 3.5x 2007-2014 35 33.6 3.0x Production FYE Debt-to-EBITDAX1 29.8…
  5. Howard Weil Energy Conference – Concho Resources, Inc. – slide 5
    Northern Delaware Basin Acreage Position Significant resource captured from large acreage position 365,000 gross and multiple target zones (255,000 net) acres Continue to deliver industry-leading results in the Northern Delaware…
  6. Howard Weil Energy Conference – Concho Resources, Inc. – slide 6
    Capturing Significant Resource NORTHERN DELAWARE BASIN Deep Inventory of Identified Horizontal Locations Well Avg. Peak Rate (Boepd) Identified Wells per Formation Count1 30-Day (% Oil) 24-Hour Locations Section Brushy Canyon 13…
  7. Howard Weil Energy Conference – Concho Resources, Inc. – slide 7
    Enhancing Well Results and Controlling Costs NORTHERN DELAWARE BASIN Consistently Enhancing Horizontal Controlling Costs While Increasing Well Results Completion Intensity 18% Increase in Avg. Peak 30-Day Rates 1,473 FY14 vs.…
  8. Howard Weil Energy Conference – Concho Resources, Inc. – slide 8
    Optimizing Completions and Improving Recoveries 2nd Bone Spring NORTHERN DELAWARE BASIN Enhanced Completion vs. Optimizing Completions Base Completion Avg. Stages/Well Avg. Proppant/Well 160 30%+ 80%+ 140 Avg. Cumulative…
  9. Howard Weil Energy Conference – Concho Resources, Inc. – slide 9
    Southern Delaware Basin Acreage Position LOVING Outstanding well results driven by enhanced geologic 275,000 gross model and completion design (170,000 net) acres Added 11 new horizontal wells with at least 30 days of production data…
  10. Howard Weil Energy Conference – Concho Resources, Inc. – slide 10
    Midland Basin Horizontal Core Targeting oil-prone, repeatable Wolfcamp and Spraberry zones Acreage Position Strong well results driven by drilling and completion optimization 200,000 gross Added 15 new horizontal wells with at least…
  11. Howard Weil Energy Conference – Concho Resources, Inc. – slide 11
    New Mexico Shelf Acreage Position Deep inventory of high-return, low-cost locations 160,000 gross 1,600 horizontal Yeso locations (110,000 net) acres CHAVES 1,000 vertical Yeso locations CHAVES Horizontal drilling and completion…
  12. Howard Weil Energy Conference – Concho Resources, Inc. – slide 12
    Strong Financial Position with Capital Flexibility Returns-Based, Disciplined 2015 Drilling & Completion Capital Program for 2015 Capital Program 2015 D&C Preserving financial strength and liquidity a high priority Program 1.8 BN…
  13. Howard Weil Energy Conference – Concho Resources, Inc. – slide 13
    Key Takeaways Proven strategy, quality assets and experienced team to weather commodity price cycles Service costs adjusting to lower commodity prices Optimizing drilling and completion techniques, improving resource recovery and…
  14. Howard Weil Energy Conference – Concho Resources, Inc. – slide 14
    Appendix
  15. Howard Weil Energy Conference – Concho Resources, Inc. – slide 15
    2015 Operational & Financial Outlook (UPDATED AS OF FEBRUARY 25, 2015) Production Year-over-year growth 16% - 20% 1Q15 Outlook Oil mix 63% - 65% Production: Price realizations, excluding commodity derivatives (% of NYMEX) 127 - 131…
  16. Howard Weil Energy Conference – Concho Resources, Inc. – slide 16
    Hedge Position (UPDATED AS OF FEBRUARY 25, 2015) 2015 First Quarter Second Quarter Third Quarter Fourth Quarter Total Oil Swaps: (a) Volume (Bbl) 4,240,000 4,579,000 4,314,000 4,109,000 17,242,000 Price (Bbl) 88.32 83.05 82.83 82.47…
  17. Howard Weil Energy Conference – Concho Resources, Inc. – slide 17
    EBITDAX Reconciliation (Unaudited) The Company defines EBITDAX as net income (loss), plus (1) exploration and abandonments expense, (2) depreciation, depletion and amortization expense, (3) accretion expense, (4) impairments of…

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