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Type Curves
Midland Basin
  Economics : Type Curve

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Focus on Operational Execution CONTINUED OUTPERFORMANCE COMPARED TO PEERS SM Energy Wells v. Howard County Peers(1) SM Energy Wells v. Austin Chalk Peers(2) 250 250 Avg. Cumulative Oil Production Avg. Cumulative Oil Production 200 31% 200 43% (MBbl/10,000 ft) (MBbl/10,000 ft) 150 150 100 100 50 SM Operated Wells 50 SM Operated Wells Peer Operated Wells Peer Operated Wells 0 0 0 5 10 15 20 25 0 5 10 15 20 25 Months on Production Months on Production (1) Enverus data as of July 2025. Horizontal wells completed in Howard County January 2021 through April 2025. Peers include APA, Bayswater, Birch Operations, CVX, FANG, HighPeak Energy, HOG Resources, Langford & Brigham, OVV, OXY, Paladin Petroleum, SGY, Spirit O&G Operating, SOGC, VTLE and XOM. (2) Enverus data as of July 2025. Oil production in the West Condensate area of the Austin Chalk. Horizontal wells completed January 2018 through April 2025. Peers include CRGY, CVX, Endeavor Natural Gas, 7 and Grit Oil & Gas.
SM Energy Company
September 2025

TECHNICAL EXCELLENCE DRIVING MIDLAND WELL STEP-CHANGE IN PERFORMANCE 31 PRODUCTIVITY 250 Subsurface characterization, 200 operational focus, and Cumulative Mboe optimized DSU design catalysts for elevated 150 performance 100 1 Year Cumulative Improvement 2014-16 to 2023: +93% 50 2017-21 to 2023: +39% 2022 to 2023: +32% 0 0 30 60 90 120 150 180 210 240 270 300 330 360 Days 2014-2016 2017-2021 2022 2023 NOTE: DATA INCLUDES ALL UNCONVENTIONAL MIDLAND BASIN HORIZONTAL WELLS ONLINE IN EACH YEAR
Occidental Petroleum Corp
February 2025

Permian Well Performance Permian Well Performance Well performance in-line with expectations 20 4Q23 & 1Q24 TILs performing in-line with 24 type curve (80 wells) 2024 OVV Type Curve 4Q23 & 1Q24 (80 wells) 21 net TILs in 1Q24, expect 120-130 net TILs in FY24 18 130 Mbbls/d Permian oil & condensate production in 1Q24 16 Confident in updated FY24 guide Entire 2024 program designed and executed by OVV 14 Cume. Oil Mbbls / 1,000 ft No change to OVV spacing and cube development 12 10 Gaines Dawson Borden 8 Substantial Core Midland 6 Mitchell Basin Acreage Position Andrews Martin 4 Howard OVV Acreage 2 P Glasscock Core OOIP1 Ector Midland OVV designed wells tracking 4Q23 & 1Q24 Pads Sterling FY24 type curve 0 0 1 2 3 4 5 6 7 8 9 10 11 12 Crane Upton Reagan Irion Months 1) OOIP = Original oil in place 8
Ovintiv Inc
May 2024
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