Parsley Energy Overview Market Snapshot Production and Reserves Premier Acreage Position NYSE Symbol: PE 4Q14 Production: 18.2 MBoe/d Market Cap: 2,290 MM(1) Proved Reserves: 91 MMBoe(4) Net Debt: 395 MM (2) Liquids: 77% Enterprise…
2014 Year in Review Second largest E&P IPO of all time Increased Midland Basin Core and Tier 1 acreage by almost 60% Successfully transitioned from a vertical operator to a horizontal operator with basin- leading Wolfcamp B well…
Wolfcamp Wells Outperforming Type Curve At strip pricing(3), currently producing Wolfcamp wells on track to pay out in 2 years on average. Cumulative Production (BOE) PE Average Horizontal Well Production(1) 690 MBoe EUR Type…
Attractive Well Economics Become More Compelling with Service Cost Declines and EUR Improvement 690 MBoe EUR Type Curve 10% EUR Increase: 760 MBoe Rate of Return Sensitivity to D&C Costs Rate of Return Sensitivity to D&C Costs 20%…
Premier Acreage Position Acreage in deepest, thickest portion of the Midland Basin Basin Deep contributes to higher: Pressure Productivity Resource potential Number of discrete target horizons Well-level returns on capital Cross…
2015 Capital Program Flexible and Efficient 2015 Capital Program Overview Estimated 2015 Capex Mix Capital Discipline Efficient spending plan with 30% Y/Y production growth and Facilities & Other modest exit to exit production growth…
2015 Outlook - Efficient Growth with Favorable Mix Shift Capital Expenditures ( millions) Avg Net Production (MBoe/d) Average Costs 2014 2015E 8.00 8% 6.00 6% % of Revenue Per Boe 18.0 6.00 6.00 6.0% - 4.00 - 4% 491 7.34 -…
Strong Liquidity Position Enhances Flexibility Strong balance sheet to fund drilling plan through 2016, Pro Forma Liquidity(1) with 519 million of pro forma liquidity based on committed portion of borrowing base ( millions) Common…
Promising Southern Delaware Exploration Program Parsleys acreage position in the Coyanosa sub-basin, within the Southern Delaware 52 Square Mile Proprietary 3D Seismic Data Shoot Basin, has Pennsylvanian-aged rocks in the oil window…
Encouraging Well Results Near Trees Ranch Prospect Offset results appear to corroborate encouraging data from Parsleys vertical exploratory wells in the Southern Delaware Wolfcamp play moving toward Parsleys 30,000 acre Trees…
Substantial Reserve Growth Reserves up 66% Y/Y Voluntarily wrote off 14 MMBoe of vertical PUDs and associated recompletions PD reserves up 126% Y/Y PUD reserves up 44% Y/Y Only 41 horizontal PUDs booked, representing just 2% of…
Appendix
Premier Acreage Position Midland Basin Acreage Map Midland Basin Pro Forma Acreage(1) Net Surface Acreage Core Tier 1 Total 49,504 30,131 79,634 Net Effective Acreage Core Tier 1 Total Lower Spraberry 14,603 16,553 31,156…
Substantial Drilling Inventory Midland Basin Drilling Inventory Midland Basin Pro Forma Drilling Inventory(1) Net Horizontal Undrilled Locations Core(2) Tier 1(3) Total(4) Lower Spraberry 63 89 152 Wolfcamp A 175 121 296 Wolfcamp B…
Completed Horizontal Well Locations Wolfcamp proving highly productive across horizontal focus area, averaging: 202 Boe/d per 1,000-foot lateral in the Core 161 Boe/d per 1,000-foot lateral in Tier 1 17
Rest of 2015 Planned Horizontal Well Locations 2015 drilling and completion capex allocation: 85% Core 80-90% Wolfcamp B 18
Q4 2014 Overview Average Net Oil Production (MBo/d) Q4 2014 Highlights +31% 10.4 Increased average net production 19% Q/Q to 18.2 Mboe/d 8.0 7.3 Oil volumes up 31% Q/Q, representing 57% 5.5 of total production 3.2 3.8…
Q4 2014 Selected Operating Data PARSLEY ENERGY, INC. SELECTED OPERATING DATA Three months ended Fiscal year ended December 31, December 31, December 31, December 31, 2014 2013 (1) 2014 2013 (1) Net production volumes: Oil (MBbls)…
Recent Hedge Management Parsley monetized a portion of its hedge value by rolling future positions to lower put spreads Strategy Benefits Capture unrealized value of hedge position in depressed oil Turned unrealized gains into 63…
Oil Hedge Position 1Q15 2Q15 3Q15 4Q15 1Q16 2Q16 3Q16 4Q16 1Q17 2Q17 Put Spreads (MBbl/day) 5.7 7.6 9.1 10.3 11.0 12.2 14.2 15.3 7.2 7.2 Put Price (/Bbl) 62.45 57.83 57.41 55.00 55.00 55.00 60.17 59.79 60.39 60.39 Short Put Price…
Gas Hedge Position 1Q15 2Q15 3Q15 4Q15 Three Way Collars (1) (BBtu/day) 10.0 9.9 9.8 9.8 Call Price (/MMBtu) 5.25 5.25 5.25 5.25 Put Price (/MMBtu) 4.50 4.50 4.50 4.50 Short Put Price (/MMBtu) 3.75 3.75 3.75 3.75 Bbtu/day…
Reserve Detail Reserve summary, as of 12/31/14, prepared by Netherland, Sewell & Associates, Inc. (NSAI) Drillbit F&D of 19.68/Boe(1) Reserves up 66% Y/Y PDP up 126% Y/Y PV-10 up 79% Y/Y Oil (Mbbls) Nat Gas (Mmcf) NGL (Mbbls)…
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