Mission Statement, Vision, & Core Values (2026) of Centennial Resource Development, Inc.

Centennial Resource Development, Inc., headquartered in Denver, Colorado, stakes its reputation in the heart of the Delaware Basin with approximately 80,100 net acres and an inventory of about 2,400 drilling locations, a footprint that underpins a mission to deliver long-term value for shareholders, employees, and host communities while pursuing sustainable growth through disciplined capital allocation; driven by a vision of technical leadership and operational excellence, the company leverages seismic imaging, horizontal drilling, and hydraulic fracturing to maximize extraction efficiency and minimize environmental impact, and its financial discipline is reflected in a reported $325 million operating income in 2023 as Centennial emphasizes safety, integrity, excellence, collaboration, and innovation to guide investment decisions, operational priorities and stakeholder engagement

Centennial Resource Development, Inc. (0HVD.L) - Intro

• Asset footprint: ~80,100 net acres in the Delaware Basin
• Development inventory: ~2,400 identified drilling locations
• Geographic focus: Delaware Basin (Permian Basin sub-basin), West Texas
• Headquarters: Denver, Colorado

• Deliver reliable, growing production and cash flow through disciplined development of high-quality Delaware Basin assets.
• Operate safely and sustainably while maximizing shareholder value via efficient capital allocation.

• Be a leading, low-cost operator in the Delaware Basin recognized for technical excellence, operational reliability, and prudent financial management.
• Continuously adopt advanced technologies to improve recovery, reduce environmental footprint, and extend asset value.

• Safety & Environmental Stewardship - prioritizing worker safety and minimizing environmental impact through best practices and technology.
• Operational Excellence - optimizing well design, completion techniques, and field operations to drive low unit costs and high uptime.
• Financial Discipline - maintaining a conservative balance sheet, strong liquidity, and capital allocation discipline to withstand commodity volatility.
• Technical Innovation - leveraging seismic imaging, horizontal drilling, and hydraulic fracturing, plus continuous R&D, to enhance EURs and reduce per‑well costs.
• Stakeholder Accountability - transparent reporting, community engagement, and alignment of management incentives with long‑term performance.

Centennial Resource Development, Inc. (0HVD.L) - Overview

• Mission focus: Deliver long-term value for stakeholders through disciplined capital allocation, operational efficiency, and responsible development.
• Strategic balance: Optimize financial returns while managing environmental impact and community relationships.
• Operational priorities: High-return drilling inventory, strong operational execution, and flexible marketing/hedging strategies to protect cash flow.

• Long-duration value creation through repeatable wells and high-return projects.
• Operational excellence aimed at lowering unit costs and improving capital efficiency.
• Progressive environmental performance: emissions intensity reduction, water stewardship, and minimized surface disturbance.
• Stakeholder alignment: transparent governance, workforce development, and community investment.

• Accountability - measurable targets for safety, cost, and environmental performance tied to management incentives.
• Discipline - capital allocation focused on projects with attractive rates of return and quick payback periods.
• Stewardship - responsible resource development emphasizing emissions reduction, water reuse, and reclamation planning.
• Collaboration - building long-term supplier, partner, and community relationships to reduce operational friction and amplify shared benefits.
• Transparency - regular investor communication, public reporting of ESG metrics, and clear disclosure of strategy and risks.

• Capital allocation: Prioritizes projects with high single-well returns and capital efficiency to compound value over time.
• Hedging & marketing: Uses disciplined hedging to protect cash flows and fund sustainable capital programs.
• Sustainability investments: Allocates capital to emissions mitigation, produced-water reuse, and infrastructure that lowers operating intensity.
• Stakeholder returns: Balances reinvestment with shareholder returns (dividends, buybacks) and debt reduction to preserve optionality.

Centennial Resource Development, Inc. (0HVD.L) - Mission Statement

• Deliver safe, reliable, and cost-efficient production from high‑quality Delaware Basin acreage.
• Invest in advanced drilling and completion technologies to maximize recoveries and reduce unit costs.
• Prioritize returns on invested capital and maintain a strong balance sheet through cash generation and capital discipline.
• Operate with rigorous environmental, social, and governance (ESG) standards to minimize emissions and community impact.

• Scale repeatable well designs and pad development to lower cycle times and per‑well capital.
• Apply data analytics and subsurface modeling to improve EUR (Estimated Ultimate Recovery) predictability.
• Optimize midstream integration to reduce differentials and downtime.
• Continuous improvement programs targeting decline in LOE (lease operating expense) per BOE.

• Preference for high-return development projects with IRRs above corporate hurdle rates and short payout periods.
• Maintaining leverage targets to preserve investment-grade-like optionality; targeted net debt/EBITDAX bands guide distribution of FCF.
• Reinvestment thresholds tied to per‑well returns - discretionary buybacks or special distributions when free cash flow exceeds reinvestment needs.

• Routine A/B testing of completion designs to improve EUR by mid-to-high single-digit percentages per program cycle.
• Adoption of longer laterals and higher-intensity completions where incremental returns justify added cost.
• Integration of real-time drilling and completion analytics to shorten drilling days and improve capital efficiency (e.g., reduction in drilling days per lateral by 10-20%).

• Acquisition of contiguous high‑quality acreage to create scale and reduce per-unit operating costs.
• Partnerships with midstream providers to secure takeaway capacity and improve realized pricing.
• Portfolio optimization: focus capital on high-return benches and curtail lower-return activity.

Centennial Resource Development, Inc. (0HVD.L) - Vision Statement

Centennial Resource Development, Inc. (0HVD.L) envisions becoming a leading, sustainable operator in the Midland and Delaware Basins by delivering safe, reliable, and efficient energy production while creating long-term shareholder value. The vision emphasizes operational excellence, disciplined capital allocation, technological advancement, and community stewardship to drive resilient growth across commodity cycles.

• Safety is a fundamental core value at Centennial, protecting employees, contractors, and the environment through proactive risk management and continuous improvement in process safety and field practices.
• Integrity guides all business practices and decision-making, ensuring ethical conduct, transparent reporting, and adherence to regulatory and stakeholder expectations.
• Excellence drives Centennial to deliver operational and financial outperformance, focusing on high-quality execution across drilling, completion, production, and cost control.
• Collaboration enhances the company's effectiveness with partners, joint-venture operators, suppliers, and communities to foster trust and aligned outcomes.
• Innovation is pivotal for Centennial to remain competitive, leveraging new completion techniques, data analytics, and emissions-reduction technologies to improve returns and environmental performance.

Centennial's mission and vision are operationalized through measurable objectives and governance frameworks:

• Operational targets: steady production growth, well-level IP30 improvements, and ongoing reductions in well cost per lateral foot.
• Financial discipline: maintain net leverage within targeted ranges, prioritize free cash flow generation, and allocate capital to high-return completions and debt reduction.
• Environmental & safety goals: reduce methane intensity, increase flaring mitigation, and sustain low TRIR through training and capital investments.
• Innovation programs: pilots for electrification, water recycling, and real-time analytics to optimize completions and reduce operating expense.

For a fuller company context and strategic background, see: Centennial Resource Development, Inc.: History, Ownership, Mission, How It Works & Makes Money