DUG Permian P r e s e n t a t i o n May 22, 2 0 1 4
The Boom is Back
Outline of Endeavor Energy Resources, LP Started in 1979 and owned by Autry C. Stephens and family Year 2000: Formed and merged assets Year 2005: Bought Perencos U.S. oil & gas operations for 220 million Purchased over 600 million of…
Midland and Delaware Basin Exposure Midland Basin: Martin, Howard, Midland, Delaware Basin: Winkler, Ward, Loving and Reeves Glasscock, Upton and Reagan Counties with Co., TX; Lea Co., NM acreage significantly de-risked and held by…
Endeavor Midland Basin Footprint Endeavors Core Counties Vertical Wolfberry is commercial across Endeavors core leasehold of approximately 381,000 net acres in Endeavor Wells Operated the Midland Basin Endeavors acreage position…
Summary of XTO Energy Farmout Agreement Offsetting Horizontal Wolfcamp Activity Acreage in orange surrounded by horizontal wells Seven year drill to earn with XTO to develop 34,000 acres of the Wolfcamp q XTO earns a majority working…
Industry Horizontal Drilling Targets Midland Basin Stacked Pays Offer Additional Drilling Opportunities Source: RSPP investor presentation. 7
Recent Industry Stacked Pay Activity PAD DRILLING FOR STACKED PAYS Wells Permitted East of Midland Airport Pad Drilling Lateral Lengths: 1 to 2 miles Stacked Pay Targets Spraberry and Wolfcamp Shales Drilling Next to…
VOLUNTARY DRILLING UNITS DRILLING UNIT EXAMPLE No Forced Pooling Three Section Drilling Unit Typically 7500 Lateral Lengths What if Operators B or C do not join Stranded Acreage Problem Spend Potentially 150 MM (16+wells)…
Boom to Bust Consider Oil Prices Years 1953-1973: Oil held at 3 per barrel during period of large oil discoveries Year 1974: Oil jumps to 12 per barrel (OPEC oil embargo) Years 1980-1981: Oil jumps to 35 per barrel (Iran/Iraq war…
The four most expensive words in the English language: This Fme its dierent. Sir John Templeton (Founder, Templeton Funds)
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