Achieving Scale in Northern Delaware March 21, 2017 1
Black Mountain Acquisition Overview Solidifies scale for efficient, long-term Northern Delaware development A&D Since 2016 Continues portfolio shift to lower 3.8B cost, higher margin U.S. resource Divestitures plays 700MM Northern…
Consolidating & Strengthening Northern Delaware Position Total gross operated locations grow to 2,650 Pro-Forma Permian acreage* 70,000 21,000 91,000 N. Delaware acreage* 51,500 20,000 71,500 Risked Resource (MMBOE) 350 230…
Northern Delaware Basin Recent Well Results Eddy and Lea counties attracting rigs and capital CHAVES COUNTY MTDR: Airstrip State Com 201H Upper Wolfcamp IP24: 926 BOED (97% oil) 4,100 LL LEA COUNTY MTDR: Mallon 27 Fed Com 1H, 2H…
Expanding Northern Delaware Quality and Scale Combined 91,000 acres in Permian basin at 18,400 / acre Competes at top of MROs organic portfolio Quality Outstanding recent offset well performance Primary oil targets in world-class…