FIRST QUARTER 2016 SUPPLEMENTAL INFORMATION Energizing the World, May 4, 2016 Bettering Peoples Lives
1Q16 Key Messages and Highlights Results provide further confidence in strategy, assets, execution and outlook Quarterly Capital Expenditures of 374 MM, Below Low End of Guidance Continued Trend of Lowering Controllable Operating…
1Q16 Outperformance Versus Guidance Strong capital efficiency and improved cost control Financial and Operating Metric 1Q Guidance 1Q Actuals Total Sales Volumes (MBoe/d) 395 - 405 416 Product Mix (Oil / NGL / Gas) 32% / 14% / 54%…
Robust Financial Position Strengthening investment grade balance sheet Maintained 5 B of Liquidity1 Sales Transactions Totaling Over 775 MM Year to Date 238 MM proceeds received in 1Q16 Debt-to-Capital 39%; Well Below 65%…
Optimizing DJ Basin Well Results Capital efficiency, productivity, and value continues to improve Reduced Wells Ranch Normalized ERL Well Productivity: IP-30 /1000 ft. Well Costs to 2.7 MM Rate Down 35% year-over-year despite higher…
DJ Basin Transaction Accelerating value through partial Greeley Crescent divestiture Generating 505 MM Cash Proceeds WELD COUNTY Closing expected as early as June 2016 33,100 Net Acres Sold, Primarily East Pony Undeveloped…
Initial Delaware Basin Performance Results confirming quality across extent of existing acreage Productivity Per Lateral Foot Up Nearly 15% Compared to Prior Asset Average First Two Completions Verify Tier 1 Wolfcamp A Position…
Impressive Eagle Ford Results Beyond Gates Ranch New completion designs deliver substantial enhancement Briscoe Well Results Demonstrate Applicability of Enhanced Completion Designs in New Areas Tom Hanks Testing Various Cluster…
Robust Demand and Exceptional Performance in Israel Record 1Q sales volumes and cash flows 1Q16 Israel Natural Gas Sales Volumes of 266 MMcf/d, Net MMcf/d Tamar Net Sales Volumes Represents 10% growth over 1Q15 350 300 Record 1Q…
Enhanced Full-Year 2016 Expectations Capital expected below original 1.5 B guidance Continued Efficiencies in the U.S. MBoe/d Sales Volumes 405 390 Onshore Driving Capital Lower 400 2016 Sales Volumes Guidance 300 Raised to 405…