Wade Hutchings Regional Vice President, Mid-Continent Asset Team
Dynamic & Bright Future in Oklahoma Deep Portfolio Differentiated Capabilities SCOOP STACK Rich Dataset 700 MMBOE 735 MMBOE 3,700 mi2 3D Seismic 2P Resource 2P Resource 35 Cores Woodford Delineated Position 16 Infill Unit Tests…
World-Class Woodford Shale Source Rock Foundation of SCOOP & STACK resource density Woodford Shale Source Rock Anadarko Basin Producing Zones Recovered Stratigraphic Column Expected Hydrocarbon Volumes* Source Rock Horizontal…
Improving Depth & Quality in Oklahoma Resource Basins Largest 2P Resource in unconventional portfolio 1.6 BBOE 2P Resource (2.2 BBOE 2.5 total resource) 2.0 Resource (BBOE) Increased 360 MMBOE in STACK and 1.5 40 MMBOE in…
STACK Play Attracts Industrys Attention Deep exposure to the entire STACK play STACK Industry Play Status Primary Targets (Meramec, Woodford) Secondary Targets (Osage, Hunton, Oswego) 34 Active Industry Rigs MRO STACK position:…
STACK Meramec Driving Valuations Rapid delineation and expansion of Meramec play still in progress 2016 MRO Marathon Position Focus Area Material STACK resource base 735 MMBOE 2P Resource Meramec Well Inventory 330 Net (1,200…
STACK Meramec Capital Efficiency Gains Lateral lengths, recovery per foot, and drilling pace all increasing Industry Well Performance Meramec Drilling Performance 6 8,000 700 Cum 90D MBOE Per Foot* 600 Feet Per Day Lateral…
SCOOP Play Resource Density Deepens Exposure across entire SCOOP play SCOOP Industry Play Status Primary Targets (Woodford, Springer) Secondary Targets (Penn Sands, Miss) 11 Active Industry Rigs MRO SCOOP position; 144k net surface…
SCOOP Ready for Development Core area defined delineating Woodford & Springer oil windows Marathon Position Material SCOOP resource base 700 MMBOE 2P Resource Woodford Well Inventory 450 Net (1,770 Gross) Springer Well Inventory…
SCOOP Capital Efficiency Gains Enhanced stimulations driving improving well performance Woodford MRO-Operated Well Performance 2015 Woodford Well Performance 0.25 80 100% Average BOE Per Foot* 3 Mo Cum Production *** %…
Rich SCOOP & STACK Internal Dataset 3D seismic critical for optimal well placement & spatial reservoir analysis Rich historic dataset 3,700 sq. mi 3D seismic 2,400 sq. mi in STACK STACK 1,300 sq. mi in SCOOP Woodford 1,600 logs…
Reservoir Quality Index (RQI) Optimizing well performance with the best landing zones STACK Meramec Mike Stroud Offset 4 Components of RQI: Reservoir GIP Pay Quality Index Neutron- Density Porosity 0 10% 0 V-Clay 1…
STACK Meramec Completion Pace of Change Stimulation trials augmented with rapid industry evolution Fast pace of stimulation evolution Proppant Gen 3 MRO Others Loading Proppant Load (lbs./ft)* 4,000 (relative to earlier…
Well Performance Analysis Leveraging 3D seismic, RQI, and stimulation trials to drive performance Meramec Well Performance Drivers v2.0 Rich dataset drives utilization of multi-variant statistical analysis HQR _3% (ft) Geo Variable…
SCOOP & STACK Competing for Capital Allocation Capture & Delineate Meramec Develop 735 MMBOE 2P Resource 16 2016 Wells Unlock more of 142k acre…
Gross Gross Average Total Operated Operated Net Wells Net Wells 2016 Rig CAPEX Wells Wells to Drilled to Sales Count Drilled Sales 193MM 0.5 8 10 13 15 10 12 19 22 YTD 3/31/16 3 6 3 5 Gross Gross Average Total Operated…