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

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