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U.S. LIGHT OIL: OPERATED EAGLE FORD Consistent Performance Improvement Strength Relative to Local Peers Cumulative Well Production by Year(2) Competitive 250,000 2020 2019 Performance 2018 Cumulative 2 Phase Production (boe) 2021 200,000 2017 Across the Oil Window 2016 since 2020 150,000 2023 2022 Relative to Large Peers(1)(2) Ganymede on Immediately Adjacent Acreage 100,000 Pad KARNES 300,000 50,000 LONGHORN 250,000 - Cumulative boe per 8,000 foot lateral 0 6 12 18 24 30 ATASCOSA Months 200,000 6-Month Cumulative Productivity(2) SUGARLOAF (boe/foot) 150,000 ROCC 12.8 ROCC IPANEMA EXCELSIOR 12.6 100,000 ROCC 12.4 50,000 12.2 12.0 11.8 - LIVE OAK 16 month 18 month 24 month 11.6 11.4 (1) MRO data set includes all 27 wells since 1/1/2020, EOG data set includes all 143 wells since 1/1/2020, 11.2 ROCC data set includes all 106 wells since 1/1/2020 (2) OIL Source: Enverus 2011-2014 2015-2019 2020-2021 2022 BAYT E X ENERG Y / NYSE / T SX BT E 16
Baytex Energy Corp.
August 2023

Eagle Ford Shale Enhancing Portfolio and Production Through Strong Execution, Improved Completions 2Q 2023 35 MBOEPD, 89% Liquids Eagle Ford Shale Acreage 17 operated wells online 9 Catarina, 8 Tilden Strong Performance Across Locations Optimized completions design continues to KARNES outperform expectations TILDEN Jambers wells outperforming pre-drill forecast Tyler Ranch wells in-line with pre-drill forecast CATARINA 1,200 BOEPD average Tilden IP30, 85% oil 3Q 2023 Well Delivery Schedule 7 operated wells online 4 Catarina, 3 Tilden 2 non-operated wells online in Tilden Murphy Acreage Fracking Crew Tilden Performance Jambers Wells Average Cum MBO 100 80 60 40 20 0 0 30 60 90 120 Days Online Acreage as of August 1, 2023 2023 Well Average Historical Well Average www.murphyoilcorp.com NYSE: MUR 9
Murphy Oil Corp
August 2023

South Texas Austin Chalk 10 New Wells With Peak IP30 Demonstrate Continued High Returns Across Acreage New Wells Reached IP30 22 23 SM Energy Austin Chalk Wells to Date(1) Oil 50 40 Liquids-rich Gas Number of wells: 22 (Mboe per 1,000' / 3-stream) Avg. Cumulative Production 30 Liquids-rich Gas 20 Oil Number of wells: 28 10 Wells 10 2,330 Avg. Boe/d 0 0 100 200 300 400 500 4271 Oil Liquids % Note SM Energy has completed 85 Austin Chalk wells that have reached IP30 as of July 17, 2023. (1) All SM Energy operated wells that came online in 2022 and 2023 that have reached peak IP30 rates. 16 Producing Days
SM Energy Company
August 2023

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