Legacy Reserves LP Overview Longstanding Midland, Texas-based operator (NASDAQ: LGCY) Unique balance of diversified, stable PDP footprint with significant horizontal Permian potential 42 MBoe/d from 4 regions…
2016 Key Accomplishments Production: Generated record production of 43,800 Boe/d. LOE: Reduced absolute LOE by 13 million and achieved record low lifting cost of 10.59/Boe Drilling Efficiencies: Reduced D&C cost of horizontals by 15%…
Valuation and Credit Profile Underpinned by Significant PDP 970 million Proved PV-10 based on Strip Pricing(1) Proved Reserves by Region Weighted average 3-year PDP decline…
Identified Operated Permian Horizontal Acreage Northwest Shelf Midland Basin Total Acreage Total Acreage Gross Net Gross Net(1) Net + JDA 6,400 5,900 10,000 7,800 9,200 Delaware Central Basin Basin Platform Total Acreage…
Total Permian Acreage Northwest Shelf Midland Basin Delaware Central Basin Basin Platform 2017 Hz Development 2018+ Hz Development Other Permian (Op + Non-Op) Active Horizontal Rigs Note: References to development year…
Significant Operated Permian Horizontal Development Inventory Permian Horizontal Inventory Extensive industry activity has Operated Horizontal Drilling Locations(1) Wells de-risked a significant number 2017 Development 2018+…
2017 Capital Budget ( in millions) 55 million Capital Budget Gross Net 250.0 225.0 60.0 55.0 +76% +86% 50.0 200.0 Development Capital Development Capital 40.0 150.0 127.7 29.5 30.0 100.0 20.0 50.0 10.0 2016A…
Balance Sheet ( in millions) 12/31/2015 12/31/2016 No Near-Term Debt Maturities Revolving credit facility due 2019 608.0 463.0 12% 2nd Lien Term Loan due 2021 60.0 600 8% Senior Notes due 2020 300.0 233.0 463 493 500 6.625%…
Improved Pro Forma Credit Profile The following pro forma assumes we caused a Reversion to occur under the JDA increasing LGCYs WI in the assets: LGCY + JDA Adjustment = Pro Forma Standalone Numerator 1,189 (1) 73(3) 1,262 (2)…
Appendix 13
Howard County Well Performance Type Well Statistics(1) Lateral D&C EUR Payout 140,000 Length Zone (MM) (MBoe) IRR (Yrs) Lwr. 7,500' 5.0 865 69% 1.2 Spra 120,000 7,500' WCA 5.0 615 40% 1.9 Avg. Cum. Production - Lwr Spraberry…
Howard County Activity Update Map Results(1) Borden First Lat. Peak 30-Day Well Name Zone Prod. Length (ft) (Boe/d) Talbot A 1SH L Sprby Dec-15 7,500 1,144 Martin Talbot B 2AH WC A Dec-15 7,500 814 Howard Talbot C 3SH L Sprby…
Lea Unit Well Performance Type Well Statistics(1) Lateral D&C EUR Payout 160,000 Length Zone (MM) (MBoe) IRR (Yrs) Avg. Cum. Production - 1st BS 5,000/7,500 2nd BS 5.25 560 40% 1.8 5,000/7,500 3rd BS 5.25 765 69% 1.1 140,000 Avg.…
Lea-Hamon Activity Update Map Results First Lat. Peak 30-Day Well Name Zone Prod. Length (ft) (Boe/d) Lea 32H 3rd BS Nov-15 7,500 1,091 Lea 33H 3rd BS Oct-15 5,000 876 Lea 34H 3rd BS Nov-15 5,000 1,523 Lea 44H 3rd BS Nov-15 5,000…
2017 Guidance ( in thousands unless otherwise noted) FY 2017E Range Production: Oil (MBbls) 4,300 - 4,400 Natural gas liquids (MGal) 35,800 - 36,800 Natural gas (MMcf) 61,300 - 62,900 Total (MBoe) 15,369 - 15,760 Average daily…
Hedge Summary + Price Sensitivities Added meaningful hedges over the past 6 months. Below is our current position: % Oil Hedged(1) % Natural Gas Hedged(1) 80% 80% 76% 68% 70% 70% 60% 60% 55% 60% 50% 50% 42% 40% 40% 30%…
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