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Type Curves
Fort Worth Basin
  Economics : Type Curve

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Northern Delaware Efficiency & Productivity Gains Significant efficiency and productivity gains realized since entry Lea County (NM) Productivity Review1,2 into Northern Delaware in mid-2017 150 CDEV - 2019 Increased lateral length and pad sizing CDEV - 2018 Reduced timing from spud to first production by 45% CDEV - 2017 Cumulative Oil (Mbo) from 2018 Predecessor Operator (2015-2017) 100 Development across 6 formations since entry into New Mexico Moved a second rig to New Mexico at mid-year Minimal exposure to Federal acreage (less than 5% of CDEV 50 total acreage position) Lea County (NM) Development Summary 0 0 30 60 90 120 150 180 Current Days on Production 2017 Formations Development Lea County (NM) Development Efficiencies3 Avalon P P 7,600 +41% +29% 1.8 1st Bone Spring Sand P 7.9 (46%) 5,400 1.4 2nd Bone Spring Shale P 4.3 2nd Bone Spring Sand P P 3rd Bone Spring Shale 3rd Bone Spring Sand P Average Lateral Length Average Pad Size Average Spud to Initial Production / 1,000 Ft Upper Wolfcamp A P FY 2018 YTD 2019 (1) Cumulative oil production curves shown on an non-normalized basis (2) CDEV-2017 wells represent wells operated by CDEV upon closing of GMT Exploration acquisition in mid-2017 (3) Lea County Development Efficiencies data based on YTD 2019 activity through October 2019 6
Permian Resources Corp.
November 2019

Core Development Areas Delivering Impressive Results Greater Sand Dunes Cumulative Production (Mboe) Subsurface Characterization is Driving Basin Greater Sand Dunes Bone Spring - 10K wells Leading Results 2018 52 Wells 9,950 Subsurface characterization mitigating parent-child effect and 2019 preserving well performance 22 Wells 10,000 96% of Bone Spring development wells online YTD have an offset producing well 45% Better Than the Average New Mexico Operator2 9,800 3D seismic to map geomechanical flow units and optimize landing Continued basin leading development Bone Spring results: Days Online 1Q 23 Wells Online 9,802 ft Peak 30 Day Production (Boed) 1Q Avg IP 24 = 5,595 Boed1 Greater Sand Dunes Bone Spring - 10K wells 1Q Avg IP 30 = 4,239 Boed1 22 wells Avalon/1st Bone Spring/Wolfcamp A appraisal results: 5 Wells Online 9,696 ft Avg IP 30 = 2,929 Boed 52 wells 1Three stream production results 2Peer data sourced from IHS Performance Evaluator and represents an average of Peers with greater than two wells online in 2018 for New Mexico Bone Spring wells with a lateral length greater than 9,500 ft 41
Occidental Petroleum Corp
May 2019

Strong Permian performance Development & production costs1 Well performance2 /BOE Delaware Basin3 Normalized Cum. Prod. (MBOE) 30 Chevron wells Delivering competitive 20 performance Competitor wells 0 2 4 6 8 10 12 Months Midland Basin4 Maintaining capital Normalized Cum. Prod. (MBOE) 10 efficient strategy Chevron wells 2015 2016 2017 Competitor wells Company operated Non-operated 0 2 4 6 8 10 12 Months 1 Development & production costs: 2015, 2016 and 2017 total costs per BOE are calculated as the sum of 2 Well performance results data sourced from IHS. actual operating costs per BOE produced plus development costs per BOE expected ultimate recovery for 3 Delaware Basin: Chevron Upper Avalon wells with new basis of design, drawn against similar competitor wells with wells put on production in 2015, 2016 and 2017. Development costs are /BOE, gross capital excluding G&A 8,500-12,000 laterals and 1,400 lbs/ft proppant loading; production normalized to 9,500 ft lateral length and and gross 3-stream Expected Ultimate Recovery BOE. Operating costs are /BOE, net operating costs and adjusted for partial month one data. net 3-stream production. 3-stream production refers to oil/condensate, dry gas and NGL production. 4 Midland Basin: Chevron Wolfcamp A & B wells with new basis of design; drawn against similar competitor wells with 2019 Chevron Corporation 5,500-8,000 laterals and 1,600 lbs/ft proppant loading; multi-well pads; production normalized to 7,500 ft lateral 29 length and adjusted for partial month one data. Last month Chevron production is internal data.
Chevron Corp
February 2019
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