Capital Structure and Market Summary Capital Structure Market Capitalization (July 31, 2017) 2,091 million Series A Preferred 185 million Net Debt(1) 461 million Enterprise Value 2,739 million Net Debt / EBITDAX(2) 2.0x Market…
Key Investment Highlights DJ Basin Net Acreage(2) Wattenberg-Focused Position of Scale CO 242,000 net acres with 130,000 in core DJ Basin(1) Laramie Kimball Contiguous acreage blocks allow for longer laterals Limited vertical well…
Second-Quarter 2017 Results Summary XOG Outperformed Q2 Guidance Q2 Results Highlights Q2 LOE impacted by flowline testing Guidance Actual Delta Midpoints Shift in timing; not overspend Oil Sales (MBod) 21,500 23,088 +7% No impact…
Upcoming Value Drivers Execution on current development program on track Drives 70%+ production growth Continued results from enhanced completions Encouraging results from Windsor program A pathway to Broomfield development…
Lower per-unit LOE and G&A Driving Margin Expansion Lease Operating Expense(1) (/Boe) LOE(1) and Cash G&A remain in-line with Companys full-year guidance on per-unit basis 4.01 3.51 Most operating costs are fixed on a per-…
D&C Capital Expenditures Significantly 1H17-Weighted First-Half 2017 Operated D&C capex: 429 million Gross vs Net Operated D&C Capex Additional 20 million for non-op FY17 Operated D&C capex budget: 675-775 million Additional…
2017 Strategy and Guidance: Focused on Execution Strategy Grow production by 60-80% year-over-year Targeting run-rate net leverage of approximately 1.5x Net Debt-to-EBITDAX in the long-term Continue to protect cash flow through…
Ample Liquidity to Execute Growth Plan Liquidity as of 6/30/17 Enhanced liquidity profile through IPO, Dec. 2016 equity offering, and recent senior ( in millions) unsecured notes issuance Cash on Balance Sheet 89 Top tier balance…
Current Focus on Niobrara and Codell Formations Other Horizons Provide Additional Upside Extraction has producing wells in the Niobrara A, B, C and Codell benches Wattenberg Prospective Horizons Wattenberg Formations Other Major…
Enhanced Completions Increase NPV and Rate of Return Enhanced completions improve capital efficiency despite longer cycle times Increases NPV per well up to 2.1x Standard v. Enhanced Completion Niobrara Well D&C(1) Demonstrated by…
Enhanced Completions Continued Success Enhanced Niobrara Oil Rates 16,000 8.0 Actual Average 14,000 20% Enhanced 7.0 50% Enhanced 12,000 Average GOR 6.0 Type Curve GOR Cumulative Oil per 1,000' 10,000 5.0 GOR…
First Operated Well in New Acquisition Area First operated well exceeding 50% Enhanced New Acquisition Area: Initial Niobrara Result type curve 16,000 8.0 Closed on 30,000 net acres for 255 million Actual to date 14,000 20% Enhanced…
Northern Extension Acreage Overview Highlights Northern Extension Acreage and Offset Permit Activity 112,000 net acres concentrated in Northern Weld County EOG area of activity EOG Wells Codell Gross EUR/well (Mboe) 695 Represents…
Highly Efficient Operating Cost Structure PUD Development Costs / Boe (1) (/boe) 9.37 Median: 9.25 9.13 8.24 XOG DJ Basin Peers Permian Peers Recycle Ratio (2) 2.9x 2.4x Median 2.5x 2.0x Permian Peers XOG DJ…
Cash Flow Protection Through Hedges Strong hedge portfolio protects cash flow: 85% of 2H17 oil volumes and 80% of 2H17 gas volumes hedged Maintain a multi-year rolling hedge program 2H 2017 positions: 625 MBbls of oil hedged with…
Well-Positioned for 2017 and Beyond Ample liquidity and strong balance sheet Existing high quality and extensive drilling inventory Upcoming Value Drivers: 1. Execution on current development program is on track 2. Continued…
Appendix 20
Growing Our High Quality Inventory XOGs Leasehold Area(1) Potential to add 1,500 incremental gross 1-mile equivalent locations into economic inventory through completion enhancements from Northern Extension area Larimer Potential…
Substantial Inventory of Low Breakeven Locations Excludes Northern Extension, Recent Acquisitions and Enhanced Completion Uplift 10% IRR Breakeven WTI 80% of locations(1) economic at 45/Bbl WTI 530 77 3,929 (1) 230 1,617…
Longer Laterals Lead to Increased Economics Currently 75% of gross 1-mile equivalent identified locations are 1.5 mile or longer laterals Niobrara (Standard Completions) Codell Lateral D&C Cost F&D Cost EUR(2) Identified 1-mile %…
High Caliber Management Team Management Team Name Position Prior Experience Years in Industry Mark Erickson CEO, Chairman and Co-Founder 30+ Matt Owens President, Director and Co-Founder 9 Rusty Kelley Chief Financial…
Board of Directors Name Position Background Mr. Erickson serves as Chairman, CEO and co-founder of Extraction. Prior to this, he served as Mark Erickson Chairman, CEO, Co-founder Chairman and CEO of PRE Resources, LLC from 2010 to 2014…
Non-GAAP Measures The following table presents a reconciliation of Adjusted EBITDAX and Adjusted EBITDAX, Unhedged to the GAAP financial measure of Net income (loss) for each of the periods indicated: For the Thre e Months Ende d For…
Corporate Contact Information Extraction Oil & Gas, Inc. Auditor 370 17th Street PricewaterhouseCoopers LLP Suite 5300 Denver, Colorado Denver, Colorado 80202 7205578301 Independent Petroleum Engineer Ryder Scott Denver,…
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