Investment Highlights Strong, Well Capitalized Balance Sheet Proven Management Team Significant cash balance Operational excellence Common equity Four prior successful public entities Traditional reserve-based credit facility Repeat…
Strategic Combination on December 19, 2014 Flatonia Energy, LLC Public Shareholders 2.957mm shares 9.124mm shares 1.754mm shares (21.4%) (66.0%) (12.6%) 13.835mm shares NYSE MKT: ESTE Earthstone closed two transformational…
GeoResources Performance Summary Stock Performance (%) Proved Reserve Growth (MMBoe)(1) Merger with Southern Bay to Sale Announcement 40.0 35.9 40.0 CAGR = 57% Initial Investors: 29.2 IRR = 35% 30.0 30.0 Return on Capital = 4.8x…
Go-Forward Strategy Utilize similar strategy to previous entities which delivered significant returns to shareholders Asset Strategy Corporate Strategy Optimize Existing Properties Deliver superior returns to shareholders Implement…
Near-Term Goals M&A / A&D Execution Grow Eagle Ford position and complimentary assets M&A / A&D Acquire another core drilling area; focus areas include Bakken, Rockies, and Permian Portfolio rationalization consider divesting noncore…
Company Overview Proven, growth-oriented management team Proved Reserves1 Oil-weighted with strong cash margins Focused on the prolific Eagle Ford and Bakken 12.6 MMBoe Robust liquidity with clean balance sheet Ongoing conversion of…
Southern Region Le Flore County: Conventional and 13,900 net acres; 33 PDP unconventional assets wells in Red Oak Field Eagle Ford / Grayson County: Austin Chalk Oklahoma 325 net acres prospective for horizontal Viola play 2 PDP…
Eagle Ford Summary Operated Fayette, Gonzales, and Karnes Counties 38,000 gross / 18,600 net leasehold acres Working interests range from 33% to 50% 64 gross producing wells (62 operated / 2 non- op) January 2016 average gross…
Eagle Ford and Austin Chalk Intervals Across the Acreage Stratigraphic Column S.W. Fayette & N.E. Gonzales Co.s, Texas Formation Frio Vicksburg Jackson Missing / Eroded Yegua-Cockfield Section Weches Queen City Reklaw Carrizo…
Operated Eagle Ford D&C Activity Brought 21 gross wells on line in 2014 Brought 13 gross wells on line in 2015 500 to 750 foot spacing between wells Offset by Sanchez and Penn Virginia Drilling and completion costs of 5.4mm to 6.4mm…
Drilling Performance Days vs Depth Most recent wells have been drilled and cased in 15 days at a cost of 2.5mm to 3.0mm 0 Unit Average Comparison Fayette / Gonzales County Earthstone Operating 2000 Days vs. Depth Run Surface…
Eagle Ford Drilling and Completion Trends Pad Averages Feet Drilled per Day Drilling Capex per Foot Drilled (/Foot) 1,400 1,287 250 221 1,200 1,077 1,086 1,078 200 1,045 200 187 957 989 974 177 175 1,000 174 167 171 894 159…
Recent Eagle Ford Acquisitions Karnes and Gonzales Counties Acquired 3,050 gross / 1,185 net acres in Karnes and Southern Gonzales Counties Potential for 33+ gross Eagle Ford locations Laterals of 5,000 feet to 7,000 feet Operational…
Recent Eagle Ford Acquisitions Karnes and Gonzales Counties Month Acquired June 2015 June 2015 August 2015 Total County Karnes Gonzales Gonzales Objective Eagle Ford Eagle Ford Eagle Ford Leasehold Acres: Gross 350 1,000 1,650…
Upper Austin Chalk Naturally Fractured Reservoir January 2016 average gross production of 400 Boepd (93% operated) 9 gross producing wells (8 operated / 1 non-op) 7,880 gross acres held by production Brought 4 gross wells on line in…
Williston Basin Bakken/Three Forks Play Summary Near-Term Strategy 5,900 net core acres predominantly in McKenzie Expand acreage and Dunn Counties of North Dakota that are prospective for the Bakken/Three Forks Acquire production…
2016 Hedging Summary Oil and Gas Production Hedged Swap Positions Avg. hedged oil price = 54.17/Bbl Oil / Gas Quantity Period Fixed Avg. hedged gas price = 2.530/MMBtu Oil BBls/mo Price Gas MMBtu/mo Oil 5,000 Jan 16 Mar 16 57.00…
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