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Scotia Howard Weil 2015 Energy Conference – Parsley Energy Inc.

Parsley Energy Inc. · Mar 24, 2015 · 20 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. Scotia Howard Weil 2015 Energy Conference – Parsley Energy Inc. – slide 1
    Investor Presentation Scotia Howard Weil 2015 Energy Conference March 2015
  2. Scotia Howard Weil 2015 Energy Conference – Parsley Energy Inc. – slide 2
    Parsley Energy Overview Market Snapshot Production and Reserves Premier Acreage Position NYSE Symbol: PE 4Q14 Production: 18.2 MBoe/d Market Cap: 2,058 MM(1) Proved Reserves: 91 MMBoe (4) Net Debt: 395 MM(2) Liquids: 77% Enterprise…
  3. Scotia Howard Weil 2015 Energy Conference – Parsley Energy Inc. – slide 3
    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…
  4. Scotia Howard Weil 2015 Energy Conference – Parsley Energy Inc. – slide 4
    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…
  5. Scotia Howard Weil 2015 Energy Conference – Parsley Energy Inc. – slide 5
    Wolfcamp Wells Outperforming Type Curve 160 At strip pricing (3), currently producing 140 Wolfcamp wells on track to pay out in 2 years on average. Cumulative Production (MBoe) 120 100 80 60 PE Average Horizontal…
  6. Scotia Howard Weil 2015 Energy Conference – Parsley Energy Inc. – slide 6
    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%…
  7. Scotia Howard Weil 2015 Energy Conference – Parsley Energy Inc. – slide 7
    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 on Facilities & Other sharply reduced capital budget 15%…
  8. Scotia Howard Weil 2015 Energy Conference – Parsley Energy Inc. – slide 8
    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…
  9. Scotia Howard Weil 2015 Energy Conference – Parsley Energy Inc. – slide 9
    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…
  10. Scotia Howard Weil 2015 Energy Conference – Parsley Energy Inc. – slide 10
    Encouraging Well Results In and Around Southern Delaware Acreage Near Trees Ranch Prospect Offset results appear to corroborate encouraging data from Parsleys vertical exploratory wells in the Southern Delaware Wolfcamp play moving…
  11. Scotia Howard Weil 2015 Energy Conference – Parsley Energy Inc. – slide 11
    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…
  12. Scotia Howard Weil 2015 Energy Conference – Parsley Energy Inc. – slide 12
    Appendix
  13. Scotia Howard Weil 2015 Energy Conference – Parsley Energy Inc. – slide 13
    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…
  14. Scotia Howard Weil 2015 Energy Conference – Parsley Energy Inc. – slide 14
    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…
  15. Scotia Howard Weil 2015 Energy Conference – Parsley Energy Inc. – slide 15
    Q4 2014 Overview Average Net Oil Production (MBo/d) Q4 2014 Highlights Increased average net production 19% Q/Q +31% 10.4 to 18.2 Mboe/d Oil volumes 8.0 7.3 up 31% Q/Q, representing 57% 5.5 of total production 3.2 3.8…
  16. Scotia Howard Weil 2015 Energy Conference – Parsley Energy Inc. – slide 16
    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)…
  17. Scotia Howard Weil 2015 Energy Conference – Parsley Energy Inc. – slide 17
    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…
  18. Scotia Howard Weil 2015 Energy Conference – Parsley Energy Inc. – slide 18
    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…
  19. Scotia Howard Weil 2015 Energy Conference – Parsley Energy Inc. – slide 19
    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…
  20. Scotia Howard Weil 2015 Energy Conference – Parsley Energy Inc. – slide 20
    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 (2) Oil (Mbbls) Nat Gas (Mmcf) NGL…

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