Led By Experienced Management Team Each member of the senior management team has more than 30 years of energy industry experience Randy Foutch has founded four successful exploration and production companies and operated through a…
Prior Investments Driving Results Data to power the Earth Model Earth Model and optimized completions have yielded well results averaging 30% higher than 1 MM+ BOE type curves Production Corridors that lower operating and capital…
2Q16 Highlights Company record production Produced 47,667 BOE/d, exceeding the top end of updated production guidance Lower costs Reduced unit LOE by 36% YoY to 4.43/BOE from 6.90/BOE in 2Q15 Recognized 6.4 MM of total realized…
Raising 3Q16 and FY16 Production Guidance Anticipated 2016 production growth of 6% 8% 18,000 Original FY16 Guidance Mdpt 15.5 MMBOE 16,000 Increasing 3Q16 production 14,000 guidance to a range of 4.4 4.6 MMBOE from 4.2 4.4…
Reducing 3Q16 Unit LOE Guidance 3Q16 unit LOE guidance reduced to 4.20 4.50/BOE 8 7 6 LOE (/BOE) 5 4 3 2 1 0 2Q15 3Q15 4Q15 1Q16 2Q16 3Q16E Actual Estimate 7
Capitalizing on Contiguous Acreage Position 150,042 gross/127,932 net acres1 Contiguous acreage position with 4,500 gross feet of prospective zones Centralized infrastructure in multiple production corridors and ability to…
BoltOn Acquisition Capitalizes on Existing Footprint 1. Encana Clark 1 1201 1201H Bolton acreage acquired UWC 802 BOE/D 30day Avg. IP2 within existing footprint at an attractive price 2. Encana Facilitates valueadded Clark…
Earth Model and Optimized Completions Drive Performance Earth Model is facilitating the landing and steering of the wellbore and Standard optimizing the completion to provide Wellbore significant production uplift Completion…
Earth Model and Optimized Completions Benefits by Horizon Upper Wolfcamp Middle Wolfcamp 250 250 Cumulative Production (MBOE) Cumulative Production (MBOE) 200 200 150 1.1 MMBOE 150 1.0 MMBOE 100 100 50 23 Wells Avg. 1,706…
Infrastructure Lowers Capital & Operating Costs Infrastructure includes crude gathering/transportation, water gathering, distribution & recycle, natural gas gathering, and centralized gas lift compression Invested 150 MM to date in…
Corridor Financial Benefits 1.8 million benefit over life of each 10,000 corridor well, with 25% of the benefit received in the first six months1 Water Oil Gas 2Q16 Benefits 2016 Benefits LMS Service Actual ( MM)…
Laredo Drilling Efficiencies Yield Ongoing Savings Increased Efficiencies Lower Costs 1,200 30 Average Drilling Days Rig Accept Rig Accept to Rig Release (Ft/Day) Total Drilling Efficiency Average Drilling Days 1,000 25…
Decreasing D&C Costs 10,000 D&C Capital Savings 1 10 9 D&C costs for recent Upper 8.2 8 and Middle Wolfcamp D&C Capital Per Well ( MM) 7 1.4 6.9 6.3 wells have been in the mid 6 1.0 5 million range 0.9 5 4 6.8…
MedallionMidland Basin: The Premier Pipeline in the Permian 500 miles with 325,000 net acres dedicated to system 0.45/Bbl 2Q16 cash flow margin net to LPI YE16 estimated exit rate of 140,000 BOPD 2 MM acres either under AMI or…
Strong Financial Position 760 million of liquidity1 No term debt due until 2022 950 million of notes callable at Laredos option in 2017 Peerleading, multiyear hedge position Debt Maturity Summary 1,000 800 5.625% Debt (…
TopTier, MultiYear Hedge Position Oil Hedges Natural Gas Hedges 100% 100% 90% 90% 80% 80% Hedging 70% 70% program % Natural Gas Hedged1 provides price % Oil Hedged1 60% 60% 50% 50% protection 40% 40% while…
Prior Investments Driving Results Prior strategic investments are driving repeatable increases in well productivity and reduced operational and capital costs Data Production Corridors MedallionMidland Basin Pipeline System…
Appendix
Updated ThirdQuarter 2016 Guidance1 3Q2016 Increased from Production (MMBOE)... 4.4 4.6 4.2 4.4 MMBOE Product % of total production: Crude oil.. 45% 47% Natural gas liquids...... 26% 27% Natural gas.... 27% 28% Price…
Oil, Natural Gas & Natural Gas Liquids Hedges OIL1 2H16 2017 2018 Total Puts: Hedged volume (Bbls) 1,098,000 1,049,375 1,049,375 3,196,750 Weighted average price (/Bbl) 42.95 60.00 60.00 54.14 Swaps: Hedged volume (Bbls) 791,200…
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