Supplemental Oil and Gas Information (unaudited) (Tables) - Centennial Resource Production, LLC (Centennial OpCo) and Celero Energy Company, L.P.
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12 Months Ended |
Dec. 31, 2015 |
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| Schedule of costs incurred for oil and natural gas exploration, development and acquisition |
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For the Years Ended December 31,
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2015
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2014
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2013
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(in thousands)
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Acquisition costs:
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Proved properties
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$
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14,268
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$
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5,758
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$
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10,208
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Unproved properties
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28,955
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16,409
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17,204
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Development costs
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87,452
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324,802
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151,562
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Total
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$
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130,675
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$
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346,969
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$
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178,974
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| Schedule of index prices used in standardized measure |
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For the Years Ended
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December 31,
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2015
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2014
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2013
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(in thousands)
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Oil (per Bbl)
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$
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41.85
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$
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84.94
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$
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92.05
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Gas (per Mcf)
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$
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1.71
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$
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4.70
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$
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3.76
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NGLs (per Bbl)
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$
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13.94
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$
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22.70
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$
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26.05
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| Schedule of the Company's net proved reserves, including changes, proved developed reserves and proved undeveloped reserves |
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For the Years Ended December 31,
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2015
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2014
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2013
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Natural
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Natural
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Natural
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Crude
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Natural
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Gas
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Crude
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Natural
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Gas
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Crude
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Natural
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Gas
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Oil
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Gas
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Liquids
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Oil
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Gas
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Liquids
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Oil
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Gas
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Liquids
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(MBbls)
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(MMcf)
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(MBbls)
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(MBbls)
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(MMcf)
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(MBbls)
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(MBbls)
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(MMcf)
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(MBbls)
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Total Proved Reserves:
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Beginning of the year
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19,850
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27,414
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1,551
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18,510
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6,968
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525
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11,422
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10,032
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967
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Extensions and discoveries
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9,444
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11,927
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1,432
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16,122
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22,575
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1,127
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12,459
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5,189
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300
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Revisions of previous estimates
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(5,109)
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(5,204)
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995
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56
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178
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180
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426
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837
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80
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Purchases of reserves in place
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844
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1,363
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204
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162
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192
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23
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109
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94
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8
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Divestitures of reserves in place
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—
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—
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—
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(13,572)
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(387)
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(69)
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(5,193)
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(8,387)
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(732)
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Production
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(1,830)
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(3,058)
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(331)
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(1,428)
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(2,112)
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(235)
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(713)
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(797)
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(98)
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End of the year
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23,199
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32,442
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3,851
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19,850
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27,414
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1,551
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18,510
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6,968
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525
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Proved Developed Reserves:
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Beginning of the year
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8,026
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11,959
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766
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6,021
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4,837
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382
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2,978
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2,078
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285
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End of the year
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9,347
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12,711
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1,603
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8,026
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11,959
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766
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6,021
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4,837
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382
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Proved Undeveloped Reserves:
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Beginning of the year
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11,823
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15,455
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785
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12,489
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2,131
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143
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8,444
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7,954
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682
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End of the year
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13,852
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19,731
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2,248
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11,823
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15,455
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785
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12,489
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2,131
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143
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| Schedule of standardized measure of discounted future net cash flows relating to proved oil and natural gas reserves |
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December 31,
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2015
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2014
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2013
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(in thousands)
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Future cash inflows
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$
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1,079,962
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$
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1,850,205
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$
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1,743,612
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Future development costs
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(277,837)
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(440,366)
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(223,227)
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Future production costs
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(450,058)
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(457,236)
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(601,614)
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Future income tax expenses
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(6,643)
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(10,834)
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(3,540)
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Future net cash flows
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345,424
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941,769
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915,231
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10% discount to reflect timing of cash flows
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(210,355)
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(575,886)
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(543,924)
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Standardized measure of discounted future net cash flows
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$
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135,069
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$
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365,883
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$
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371,307
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| Summary of changes in the standardized measure of discounted future net cash flows |
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For the Years Ended December 31,
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|
|
2015
|
|
2014
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|
2013
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(in thousands)
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Standardized measure of discounted future net cash flows, beginning of the period
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$
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365,883
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$
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371,307
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$
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257,083
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Sales of oil, natural gas and NGLs, net of production costs
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(58,534)
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(102,488)
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(47,424)
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Purchase of minerals in place
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14,416
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5,650
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4,410
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Divestiture of minerals in place
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—
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(242,344)
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(73,174)
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Extensions and discoveries, net of future development costs
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57,894
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312,532
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99,107
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Change in estimated development costs
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16,100
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10,386
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7,520
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Net change in prices and production costs
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(494,734)
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(3,027)
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21,601
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Change in estimated future development costs
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247,642
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2,935
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(40,783)
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Revisions of previous quantity estimates
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(51,342)
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924
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135,759
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Accretion of discount
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37,517
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13,561
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19,000
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Net change in income taxes
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1,601
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(2,762)
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(35)
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Net change in timing of production and other
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(1,374)
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(791)
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(11,757)
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Standardized measure of discounted future net cash flows, end of the period
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$
|
135,069
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$
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365,883
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$
|
371,307
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