CARRIZO OIL & GAS, INC. EXL ACQUISITION PRESENTATION June 28, 2017 CRZO
The New Carrizo Strategic Initiatives to High-Grade Portfolio for Long-Term Profitability 2017 Strategic Initiatives Acquire 16,488 highly contiguous net acres in the heart of the Delaware Basin for 648 million(1) Current…
Acquisition Meets Selective Carrizo Criteria Criteria Benchmark Core positions likely remain on the low end of the cost curve Superior Rock Quality Favorable liquids mix Provides a meaningful base of production and cash…
Acquisition Overview Transformative Acquisition in the Heart of the Delaware Basin Highly contiguous acreage position in the core of the Delaware Basin Impressive well results both on-lease and from offset operators Blocky acreage…
Attractive Valuation for Core Delaware Basin Acreage / Adjusted Net Acre(1) A 45.7k B 40.6k C 34.9k D 34.0k E 30.2k F 27.5k CPE / Ameredev Carrizo / ExL(2) 22.3k FANG / Brigham Oxy / J. Cleo RSPP /…
Significant Multi-Zone Potential High-Quality Stacked Pay with Large Inventory Upside Acreage contains up to 10 potential targets across a 3,800-ft. section from Gross Section the Avalon through the Wolfcamp D Thickness (ft.) 4 of…
De-Risked Wolfcamp Interval Successful Wells in Four Out of Six Wolfcamp Horizons BS3_MID_SHALE [PCF] 9 5/8 IN 10000 2100 Sacks of Cement 10000 10000 A BS_SAND_3 [PCF] 10000 99 5/8 5/8 IINN BS3 2060 Sacks 2060 Sacks…
Material Inventory Expansion Opportunities Offset Operators are Targeting Multiple Horizons APC CDEV CXO DVN EGN FANG JAG NBL OXY PDCE Brushy Canyon P P Y Avalon Shale Y P P P P P 1st Bone Spring Sand P Y P P P 2nd Bone Spring…
Acreage Located in an Excellent Neighborhood Strong Well Results Announced by ExL and Offset Operators APC Nancy Couch APC Ruck APC Irene 30-day rate: 1,329 Boe/d 30-day rate: 1,357 Boe/d 30-day rate: 1,229 Boe/d (72% oil) (70% oil)…
Improving Well Results Over Time More recent wells yielding substantially higher Location of Wells Drilled by Year recoveries through drilling and completion optimization Increased proppant loading Shorter frac intervals…
Acquisition Type Curves & Well Economics 1,400 350 WCA Daily Oil WCB Daily Oil Wtd. Avg. Wtd. Avg. WCA Cumulative Oil WCB Cumulative Oil Type Curve 1,200 300 WCA WCB Total Well Cost 8.1 MM 8.1 MM 1,000 250 Cumulative Oil -…
2017 Development Program Update 91 Prior 2017 DC&I Capital Update (1)(2) Updated ( millions) Prior Updated 75 Eagle Ford 410 395 Net Wells Drilled D&C 90% Delaware Drilling & 45 150 Basin D&C Completion 17 Other D&C 30…
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