Centennial Resource Development Inc

Centennial Resource Development is an independent oil and natural gas company focused on the development of unconventional oil and associated liquids-rich natural gas reserves in the Permian Basin. Centennial was formed in 2016 through the business combination of Centennial Resource Production, LLC and Silver Run Acquisition Corporation, a special purpose acquisition company formed by Mark G. Papa, our Chairman and CEO, and Riverstone Holdings, LLC, an energy private equity fund. Centennial is headquartered in Denver, Colorado.

Core Acreage Position

Our assets are located primarily in Reeves County, Texas in the core of the Southern Delaware Basin, in addition to properties in Lea County, New Mexico in the Northern Delaware Basin. The Permian Basin represents one of the most attractive operating areas in the United States due to its favorable operating environment, stacked pay potential, high oil content, extensive infrastructure base, significant service provider network, and historically high drilling success rates. We believe activity in the Delaware Basin will continue to evolve as new drilling completion techniques and enhanced development practices are employed. Our drilling inventory consists of approximately 2,400 horizontal drilling locations across seven proven zones in the Delaware Basin with upside potential from additional prospective formations across our acreage position.

Disciplined Financial Management

We intend to maintain a conservative balance sheet to preserve financial flexibility through commodity cycles. We believe strong liquidity, low debt levels and modest leverage are competitive advantages in any industry environment. Additionally, we plan to invest our capital judiciously and maintain a low cost structure.

Delaware Basin The Permian Basin is an attractive operating area due to its extensive original oil-in-place, favorable operating environment, stacked pay potential, high oil content, extensive infrastructure base, significant service provider network, and historically high drilling success rates. According to the U.S. Energy Information Administration (EIA), the Permian Basin is the most prolific oil producing area in the United States.     Centennial Resource Development has approximately 80,100 net acres in the Delaware Basin located in Reeves County, Texas and Lea County, New Mexico. We believe the integration of geology and engineering disciplines will support our goal of producing significant amounts of oil reserves from our large and contiguous land base.

Delaware Basin

The Permian Basin is an attractive operating area due to its extensive original oil-in-place, favorable operating environment, stacked pay potential, high oil content, extensive infrastructure base, significant service provider network, and historically high drilling success rates. According to the U.S. Energy Information Administration (EIA), the Permian Basin is the most prolific oil producing area in the United States.     Centennial Resource Development has approximately 80,100 net acres in the Delaware Basin located in Reeves County, Texas and Lea County, New Mexico. We believe the integration of geology and engineering disciplines will support our goal of producing significant amounts of oil reserves from our large and contiguous land base.

Our Culture

At Centennial, we are committed to environmental sustainability, operational safety, social responsibility and sound corporate governance. Each of our employees understands, embraces and takes pride in these commitments in performing her or his job responsibilities. Centennial manages its business to deliver strong GAAP financial returns without compromising our pledge to the environment, to comply with applicable laws, to safety and to communities in which we operate and in which our employees live. We prioritize the health and safety of our employees and contractors, and of the residents of surrounding communities, manage our environmental footprint and empower our workforce to serve the communities where we operate. Our charitable giving campaigns have a local theme, focusing on supporting nonprofits and other organizations serving communities in and around Midland, Texas; Pecos, Texas; Jal, New Mexico and Denver, Colorado. Centennial’s goal is to imbue all our employees with community responsibility and high ethical standards.