Butler Operated Area Joint Venture Key Business Terms Description Total Wells 32 Total Consideration 67 million; 16.6 million received at closing 16 Butler Legacy Wells ArcLight = 35% WI 16 Moraine East Wells ArcLight = 35% WI…
Upcoming Divestitures & Joint Ventures Current / In Process Asset Divestitures & JVs Closed on March 30, 2015 Butler Operated Area JV 16.6 million received at closing initial contract value of 67.6 million with option for JV partner…
Legacy Butler Operated Area: Marcellus Legacy Butler Operated Area Marcellus(1) Recent Developments Bicehouse Well: Placed into sales nine wells during the first quarter of 2015 Two-Well Burr Pad: Lateral length: 3,500 Lateral…
Legacy Butler Operated Area: Upper Devonian Legacy Butler Operated Area Upper Devonian(1) Recent Developments Perry 1HD Burgh 2HD Placed into sales the five-well Ferree pad - second planned 5.3 MMcfe/d 4.5 MMcfe/d stacked Upper…
Recent Marcellus Performance on High Sand Concentration Pads 8.0 All pads adjusted to 5,000 equivalent lateral length 7.5 Optimized Recent Completion - Avg. 30-day Sales Rate (MMcfe/d) Choke Program 7.0 6.5 14.0 Bcfe…
Warrior North Prospect Economics(1) Assumes 55% ethane recovery 2,500 1.0 YE14 Type Increased Sand Curve Concentration All-in Well Cost 6.8 million 7.4 million 2,000 0.8 Lateral Length 5,000 feet 6,500 feet Wellhead Rate…
Warrior South Prospect Economics(1) 3000 Assumes 55% ethane recovery 1.5 YE14 Type Increased Sand Curve Concentration 2500 1.3 All-in Well Cost 8.0 million 8.0 million Lateral Length 5,000 feet 5,000 feet 2000 1.0 EUR 1.6 MMBOE…