Jagged Peak A Delaware Basin Leader Wolfcamp A Structure Map 70,000 highly contiguous net acres in the oil-rich core of the Southern Delaware Basin Over 1,400 identified drilling locations across 4 Cochise proven benches Current…
Company Highlights Large, contiguous position in the thick, oil-saturated, favorably over-pressured core of the Delaware Basin Acreage increased during 1Q17 to 68,546 net acres further increased to 70,000 net acres Premier Position…
Executing on The Plan Stated Objectives Execution to Date P 1. Ramp to Six Completed smooth ramp to 6 operated rigs in 1Q17 Rigs Plan to maintain 5 6 operated rigs throughout 2017 Secured the necessary frac fleets to ensure…
Delivering as Promised they may doubt what you say, but they believe what you do (1) Industry leading oil content 1Q17 Oil Content 1Q17 Oil & Gas Revenue (2) drives superior revenue & EBITDAX per Boe (% oil) ( / Boe) 85% 44.27…
Production Ramp Established Targets in Sight Scaling the peak towards best in class organic production growth 1Q17 vs. 4Q16 production growth of 52% FY 2017 Completions Cadence Mid-point of 4Q17 guidance achievable with 40% Actuals…
Drilling & Completions Update 6 rigs and 4 frac fleets currently operating Drilling days down 12% in 2017 vs. 2016 Access to frac fleets ensures timely completion of wells following rig release Use of diversion material optimizes…
Significant Upside Beyond Target Zones Currently targeting the well- Whiskey River Ligon Ranch 2-5 delineated Upper / Lower (U/L) Current Zone Wolfcamp A, Wolfcamp B and 3rd Upside Zone Bone Spring Currently Evaluating Well…
Positioned in the Core Oil Window of the Southern Delaware Contiguous acreage position with manageable lease obligations Oil Cut Map Project Areas Oil Cut Cochise Whiskey River Big Tex Current Acres (net) (1) 13,319 33,218 22,009…
Substantial Reservoir Thickness Across Acreage Position Cochise Whiskey River Big Tex Isopach Map 3rd Bone Spring Sand thru Wolfcamp B JAG Acreage Cross Section Isopach 3rd Bone Spring thru Wolfcamp B (ft) 3rd BSPG Cochise…
Incredibly Thick Oil Column Significant upside beyond current target zones Cochise University 2801 Whiskey River Collier 1201 Big Tex-BTS 501 Current Zone OOIP: 106 MMbo/sec Current Zone OOIP: 112 MMbo/sec Current Zone OOIP: 58…
Pushing The Play To The East No limits encountered 3rd Bone Spring - Wolfcamp B Gross Isopach Operational Highlights UTL Beldin Successful delineation of the eastern edge of the Wolfcamp play continues 1211-17 3H with strong…
Testing Increased Density Continued positive results remain encouraging Block 34 Ward Co Operational Highlights Whiskey River 98-34 1H and Pyote Flats 98-34 2H test 660 spacing in Lower PF 98-34 2H Wolfcamp A and show promising…
Big Tex Artificial Lift Improvements 3rd Bone Spring - Wolfcamp B Isopach Big Tex Type Log State Neal Lethco 3427 Wells Altura State 6 1 Current Target SNL A3427 1H (7,676 completed lateral) producing GR logR Prior Target 522 Bo/d…
Wolfcamp B Outperforming Type Curve Three new completions in 2Q17 Wolfcamp B Gross Isopach State Eiland 9-33 Production Highly prospective Wolfcamp B interval is present across majority of Jagged Peaks acreage position Up to 625…
Actively De-Risking Across the Acreage and Column Past and Planned Delineation Efforts Areal Delineation Stratigraphic Delineation JAG Acreage Commentary / Delineation Plans 1 Bottom Hole Avalon & UTL 2932-17 2H&3H Offset…
Scalable, Operated Infrastructure Key to Cost Structure Designed to meet future production needs with cost reduction in mind Water System Key Features 7 operated SWD wells with 135 MBw/d disposal capacity provides ample capacity for…
Strong Financial Position Focus on financial flexibility Maintain conservative capital structure and liquidity Capitalization Table Fund growth with IPO proceeds, cash flow and revolver Quarter End Target debt /…
Full Year 2017 Guidance Development Program Highlights Full Year 2017 Guidance Summary 2017 capital focused on increasing production 2017 Guidance Range Original Updated and maintaining leasehold acreage Production No significant…
Jagged Peak is Positioned for Growth Premier, Contiguous Acreage Position in the Oil Core of the Delaware Basin Stacked Pay with Significant Horizontal Inventory Low-Cost Operator Disciplined Financial Approach Proven…
Appendix 21
Track Record of Oil-Weighted Reserves Growth 2016 total proved reserves increased 190% Total Reserves Growth (1) year-over-year to 37.7 MMBoe 91% liquids 190% Growth 38% proved developed 37.7 Impressive reserves growth…
Deep Drilling Inventory With Long Laterals 1,412 Current Target Drilling Locations in Well Delineated Formations Identified Locations by Formation 314 1,412 400+ 400+ 302 1,349 318 306 353 333 427 408 Lower…
First Quarter 2017 Operating Results 4Q15 4Q16 % Change 1Q16 1Q17 % Change Average Daily Production Oil (MBo/d) 2.8 5.3 90% 3.4 8.3 142% NGL (MBbl/d) 0.3 0.6 67% 0.4 0.8 108% Gas (MMcf/d) 1.5 3.1 111% 1.7 4.1 137% Total (MBoe/d)…
Oil Hedging Overview Maintain a multi-year rolling hedge program to protect cash flow and support capital program Current Midland / Cushing Basis Swaps outstanding of 1,000 Bbls/d at (1.39) / Bbl for FY 2018 9,163 Bbls / day of oil…
Consistent Results Across Leasehold Highly consistent results across Wolfcamp A & B 2016 and 1Q17 vintage Continuing to improve Operated wells demonstrate completions have produced productivity through average EUR of 1.2 MMBoe…
Non-GAAP Reconciliation Three Months Ended March 31, 2017 2016 (in thousands) Adjusted net income (loss) Net Income (Loss) (465,881) (7,450) Adjustments to reconcile to Adjusted Net Income Impairment of oil and natural gas…
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