Natural Gas Partners VII, L.P. I. Company Overview 2
WildHorse Resource Development Corporation Overview Summary High Quality Assets Attractive rate of return development: Eagle Ford single-well IRRs Total of 50% and North Louisiana Upper Red single well IRRs of Net Acres (2) 374,938…
Investment Highlights Consolidated positions in the Eagle Ford Shale and in and around the Terryville Complex of North Louisiana Attractive returns in both the Eagle Ford and North Louisiana Attractive Acreage Operational…
WildHorse Historical Growth Timeline January 2014 July 2014 April 2015 October 2014 Started leasing program in Acquired interests in RCT Began construction on 16 North Louisiana Acquired option to lease December 2016 Athens…
WildHorse Returns Rival the Premier Basins Break-even prices based on before tax half-cycle IRRs of 30% Oil Breakevens by Play 79.20 / Bbl 76.81 70.64 80.00 62.86 60.89 60.77 57.49 55.50 53.13 51.88 50.40…
Multi-Year Drilling Inventory Drives Upside Potential Net Horizontal Locations by Area Inventory Breakevens (10% Pre-tax IRR) of Net Locations(1) of Net Locations 2,298 Net 2,500 Locations 2,500 28 2,277 2,279 Multiple decades of…
WildHorse Business Strategy Grow Core Acreage Position Growth through Development through Acquisitions of Extensive Inventory Identify and cost effectively acquire attractive 2,298 net drilling locations resource development…
II. Eagle Ford Overview 10
High Quality Eagle Ford Position with Extensive Operated Inventory 3 1 266,501 net acres in the East Texas Eagle Snap G 1H (WRD) IP30 = 978 BOE/D (79% oil) J. Malazzo B 1H (WRD) IP30 = 850 BOE/D (73% oil) Ford Shale, focused on…
Positioned in the Highly Productive, Liquids-Rich Core Geology matters: Top of Eagle Ford Structural Map Gross Thickness Isopach Map Gas to oil ratio Clay content Milam Milam Shallow Oil gravity Brazos -6,000' Thick 500' Pore…
Consistent Geology Across Eagle Ford Lee County Burleson County Brazos County A A Austin Chalk Eagle Ford Shale Target Zone Top Buda Robertson Milam A Brazos Burleson Lee Regionally extensive reservoir continuity 40…
D&C Evolution Has Led to Increased Returns and Superior Well Performance Drilling and Completion Design Evolution Increased Intensity Has Improved EURs (EUR / 1,000 ft) Generation 1 Generation 2 Generation 3 MBoe Hybrid completions…
The Premier Operator Well Results Have Outperformed Peers Eagle Ford Running 6 Month Cumulative Production by Operator(1) 7,000 Running Sum of 6 Month Cum. Production (MBoe) 6,000 WildHorse wells have outperformed peers…
Summary Type Curve Economics Burleson Main Burleson Main Single Well Summary Burleson Main Single Well Type Curve (with recent Gen 3 well results) Type Well Assumptions Boe/d Wellhead EUR (MBoe) 555 Oil EUR (Mbbl) 497 1,000 % Oil…
Significant Proven Austin Chalk Reservoir Leads to Attractive Co-Development Opportunity Austin Chalk / Eagle Ford Co-Development Potential Burleson, Washington and Lee County Austin Chalk Wells Robertson Potential for stacked /…
Water Cut and Infrastructure Enhances Premier Returns in Eagle Ford Low Cost Access to Fresh Water Enhances Premier Returns WildHorse Eagle Ford Saltwater Disposal Costs Secured dedicated freshwater supply from 23 ponds Low water cut…
Proximity to Gulf Coast Leads to Advantaged Oil Pricing WildHorse regional location Comparative Basin Differentials (1) provides lower operating costs and better realized pricing due to proximity to demand centers for (8.23) oil,…
Eagle Ford Wells Outperform Competing Basins and Peers on Cash Margin YTD 2016 Cash Margin: WRD Eagle Ford vs. Competing Basins(1) /Boe 50.00 41.33 41.33 41.33 41.33 41.33 40.00 6.76 9.87 9.29 15.01 14.74 Commodity Mix…
III. North Louisiana Overview 21
High Production Rates Throughout Cotton Valley Trend Cotton Valley Activity 1,100 horizontal wells have been drilled in the Cotton Valley Lloyd 5-6H 11.3 MMcfe/d G Breffeilh 11H 11.1 MMcfe/d Hutchinson 9-005 14.9 MMcfe/d Devon,…
North Louisiana Acreage Position Contiguous Position in the Prolific Terryville Field 108,437 net acres (145,642 gross acres) Bellevue Timber 16-9 HC-1 (MRD) Horizontal Well Activity(1) Wright 13-24 HC 3 (MRD) IP30 = 36.4 MMCFE/D…
WildHorse Position is a Direct Offset to MRD / RRC Terryville Field Terryville Field RCT Terryville Complex A A B B Upper Red Lower Red RCT Weyerhaeuser A MRD / RRC Terryville Union A Fault Line Regional reservoir…
RCT The Extension of the Terryville Complex RCT acreage is located in close proximity to 3 2 Ates 18 7 HC-1 (WRD) Claiborne Williams 11-12H (Nadel & Gussman) Union IP30 = 16.0 MMcfe/d (98% gas) top performing Terryville Complex and…
RRC Extension Well Update Positive Initial Results Support Step Out Value Based on drilling and analyzing early data from extension wells, analyses of Union existing producing fields and more than 50 vertical tests, Range reported…
Summary Type Curve Economics RCT Upper Red Single Well Summary RCT Upper Red Single Well Type Curve Type Well Assumptions MMcfe/d Cumulative Wellhead EUR (MMcfe) 14,592 Production (Bcfe) Gas EUR (MMcf) 14,275 10,000 Oil EUR…
Wholly-Owned Midstream System Improves Returns Wholly-Owned Gathering System WRD pipeline runs through RCT acreage east of WildHorse Acreage Terryville Field Union MRD / RRC Acreage Gulf South Company-Owned Gathering Line Regency…
Superior Well Performance Combined with Premium Pricing Leads to Best-in-Class Economics Proximity to Gulf Coast Provides High Gas Realizations and Access to Future Demand Growth Primary Demand Drivers(1) A Proximity to New LNG…
North Louisiana Wells Outperform Competing Basins and Peers on Cash Margin YTD 2016 Cash Margin: WRD North Louisiana vs. Competing Basins(1) /Mcfe 3.00 2.66 2.50 2.43 2.40 0.37 0.14 0.11 2.29 YTD 2016 0.11 Average HHUB…
IV. Financial Overview 31
WildHorse Financial Strategy Ample liquidity to carry out 2017 capital development plan Preserve Financial Flexibility Keep leverage at conservative levels (target leverage < 2.0x) Focus on low cost operations and maintaining…
Pro Forma Capitalization IPO & Revolving Credit Facility Capitalization 1 Initial Public Offering ( in millions) As of September 30, 2016 Shares Issued: 27,500,000 Cash and cash equivalents 35 Price per Share: 15.00 Long-term…
WildHorse Commodity Hedging Overview WildHorses commodity risk management policy provides for hedging estimated production from total proved reserves Proactive policy reduces WildHorses exposure to movements in commodity prices and…
Investment Highlights Attractive Acreage Position with Strong Returns Extensive Inventory Supports Multi-Year Growth Story Balanced Asset Portfolio with Significant Capital Allocation Optionality Financial Strength and…
Experienced Management Team Jay C. Graham has served as our Chief Executive Officer and a member of our board of directors since September 2016. Previously, Mr. Graham served as Chief Executive Officer and as a member of the board of…
WildHorse Resource Development Organization Chart NGP and Management Members 100% 100% 100% WHR Esquisto WHE AcqCo NGP XI US Management Holdings, LLC Holdings, LLC Holdings, LLC Holdings, L.P. Public 23.2% 42.4% 2.8% 9.9%…
Reconciliation of Adjusted EBITDAX Adjusted EBITDAX is a non-GAAP financial measure. We evaluate segment performance based on Adjusted EBITDAX. Adjusted EBITDAX is defined as net income (loss), plus interest expense; debt…
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