About Our Company

Centennial Resource Development (NASDAQ:CDEV) is an independent oil producer with assets in the core of the southern Delaware Basin, a sub-basin of the Permian Basin in West Texas. With approximately 75,000 net acres and 15+ years of economic inventory, we are pursuing a growth strategy grounded in technical leadership, strong well results, attractive investment returns and a conservative balance sheet. Centennial is headquartered in Denver, Colorado.

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 includes locations across ten proven zones in the Delaware Basin with upside potential from additional prospective formations across our acreage position.

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.