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Delivering Strong Well Results Across Position Q2 Well Highlights Chorizo 500 Pad Review Delivered strong Q2 results across multiple Chorizo 500 pad: returned to an existing producing unit with significant stacked pay formations in the Northern and Southern Delaware Previously drilled the Chorizo 600 pads in the 3rd Bone Spring in Q219 / Q120 Drilled and completed for an average well cost of 675 / lateral foot Powdered Donut 45% improvement in DC&F costs vs prior Chorizo 600 pads Pad Reflects Centennials continued focus on capital efficiency and rate of return, driving (3rd BS / WC C) costs lower while maintaining overall well productivity Lea 150 Chorizo 600 Pad Average (Q2'19 / Q1'20 First Prod) Cumulative Oil Production (MBo) Chorizo 500 Pad Average (Q2'21 First Prod) 120 Avg FY'20 - FY'21 2 Mile Lateral (All Zones) Chorizo Pad (2nd Bone Spring) Reeves 90 60 Chimichangas 602H NM NM (3rd Bone Spring) TX TX 30 0 0 30 60 90 Days Online Chorizo Chimichangas Powdered Donut Pad Average 602H Pad Average New CDEV Development Existing Producers Illustrative Chorizo Unit Lateral length (ft.) 9,800 9,800 9,000 Formation 2nd Bone Spring development, offsetting IP30 (Boe/d) 2,295 2,722 2,530 existing 3rd Bone Spring producers 1st Bone Spring Sand IP60 (Boe/d) 1,957 2,132 2,175 2nd Bone Spring Sand % oil1 84% 82% 43% 3rd Bone Spring Sand Note: Cumulative oil production curves shown on a non-normalized basis (1) Oil cut figures shown on a two-stream basis, based on IP30 rate 6
Centennial Resource Development
September 2021

Permian Operations Development program outperforming legacy development XEC Acreage Position Reeves Relaxed Spacing Performance Currently running 5 rigs & 2 completion crews Recent development projects Reeves County 1 Dixieland: 7-well project, spacing implies 9 wells/section Relaxed Spacing 2 Big Sky: 6-well project, spacing implies 8 wells/section 25 Enhances capital efficiency Cumulative oil production per lateral foot 20 Dixieland Reduces operational risk 15 Big Sky Supports sustainable volumes (Bo/ft) & FCF profile 1 2 10 Optimizes NPV per section 5 Legacy projects (12-14 wells/section) CIMAREX ACREAGE (234K NET ACRES) WOLFCAMP BONE SPRING AVALON 0 0 50 100 150 200 250 300 350 Days Online 6
Cimarex Energy Co.
August 2021

Stateline Asset Area Eddy County, New Mexico Voni Wells (2.3 mile laterals) 2nd Bone Spring & Wolfcamp A STATELINE 123H 24-hr IP: 3,177 BOE/d (68% oil) 2,800 gross / 2,800 net acres 124H 24-hr IP: 3,084 BOE/d (70% oil) 204H 24-hr IP: 2,835 BOE/d (59% oil) 87.5% Initial 13 Voni wells averaged 216H 24-hr IP: 5,073 BOE/d (60% oil) 217H 24-hr IP: 4,619 BOE/d (59% oil) 218H 24-hr IP: 3,587 BOE/d (59% oil) Net Revenue Interest 610 D&C/FT 216H: Matador record for best overall IP test result in any formation 217H: Among the best overall IP test results for Matador in the Delaware Voni 216H 24-hr IP: Boros Remaining seven wells tested with similar results. All 13 wells now producing. 5,073 BOE/D (60% OIL) 100% OIL & WATER ON PIPE (Wolfcamp A-Lower) Voni 2.0 mile EDDY Initial 13 Boros wells have produced 2.3 mile LEA 4.7 MILLION BOE in first 8 months LOVING Initial Boros Wells Continuing to Outperform Matador Acreage 500 Avalon Cumulative Production, MBOE 450 2nd Bone Spring (Avg) NEW WELLS IN 2021 400 Wolfcamp A-XY (Avg) Wolfcamp A-Lower (Avg) 350 1,500 MBOE Type Curve 300 2,000 MBOE Type Curve APRIL 2021 250 13 VONI WELLS TURNED TO SALES 200 150 100 Q4 2021 50 13 BOROS WELLS TURNED TO SALES 0 0 50 100 150 200 250 300 350 400 Including 3rd Bone Spring Carbonate tests Days Online Note: All acreage as of December 31, 2020. Some tracts not shown on map. 50
Matador Resources Company
June 2021

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