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Delaware Basin: Optimizing Production Profiles Delaware Basin Well Production Profile1 Scaled Development of Multi-Zone Resource Base2 90,000 Avg. Project Size 80,000 7.3 2022 Production Profile 26% of wells Placed 22 Delaware wells on-line 4.9 Average Cumulative Production per Well Improvement 70,000 60,000 (Barrels of Oil) 50,000 2021 2022 40,000 Producing Zone Breakdown 30,000 2021 Production Profile 100% 6% 3rd Bone Spring Placed 35 Delaware wells on-line 18% 80% 24% Upper Wolfcamp A 20,000 60% 43% 31% Wolfcamp A 40% 10,000 17% Lower Wolfcamp A 20% 20% 19% 22% Wolfcamp B - 0% 0 20 40 60 80 100 120 2021 2022 Days On Production 1. Represents wells placed on-line during 2021 and 2022 with 120 days of production history 2. Reflects all of 2021s development activity and the first nine months of 2022 Third Quarter 2022 Earnings Presentation 6
Callon Petroleum Co.
November 2022

MIDLAND BASIN INVENTORY UPSIDE ON EXISTING ACREAGE UP TO 8 PROSPECTIVE INTERVALS M I D L AN D B ASI N I N VEN TO RY U PSI D E LEONARD LEONARD 6,500 First test: 9,900 lateral at 700 days on production, 262 MBoe produced MIDDLE Six Leonard tests planned for 1H23 7,100 SPRABERRY DEAN JO MILL 7,700 Among best portfolio returns. One fully bounded well averaged 30-day LOWER peak IP rate of 3,850 Boe/d at 91% oil (effective lateral of 13,737) 7,800 SPRABERRY 14 wells completed, average 30-day peak IP rate of 1,440 Boe/d at 89% oil DEAN (average effective lateral 11,373) 8,200 Incorporating into optimization/co-development plan WOLFCAMP A 8,400 WOLFCAMP D WOLFCAMP B Initial test well (2019) averaged 30-day peak IP rate of 1,400 Boe/d at 8,600 80% oil (effective lateral 7,920) May 2022 test well averaged 30-day peak IP rate of 1,900 Boe/d at 79% WOLFCAMP D oil (effective lateral 10,166) 9,500 Six additional Wolfcamp D wells planned in 2022/2023 6
SM Energy Company
November 2022

NWS HZ Well Performance & Costs Significant Improvements Driving Top Tier Returns NWS HZ Performance Average Cum BOE vs Time (1 Mile Lateral)2,3 D&C Cost Range per Year (1 Mile Lateral)1 3.5 M 100,000 BOE (85-90% Oil) 3.0 M 2.5 M 10,000 2.0 M 2015 2016 & 2017 2018 1.5 M 530 Avg 2019 -2021 2019 2020 2021 1H 2022 2022 1,000 D&C Cost Range per Year (1.5 Mile Lateral)1 NWS HZ Performance Average Cum BOE vs Time (1.5 Mile Lateral)2 4.0 M 100,000 420 Avg BOE (85-90% Oil) 410 Avg 3.5 M 3.0 M 10,000 2.5 M 2016 & 2017 2018 2019,2020 & 2021 2.0 M 2019 2020 2021 1H 2022 1,000 1. Wells categorized by spud year; capex ties to financials 0 Months 6 180 12 360 2. 3. Downtime associated with 2020 pandemic curtailment removed Well set comprised of single mile wells normalized to 5,080 lateral length (does not include 1.5 Mile wells) 10 www.ringenergy.com NYSE American: REI
Ring Energy Inc.
August 2022
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