Transformation: Moving to a Singular Focus in the STACK DUG Midcontinent September 2017
The New Chaparral Transforming into a premier pure-play STACK company Approximately 110,000 net acres Capitalize on a strong pipeline of economic opportunities Deliver solid operating margins and returns, even in a volatile…
Recent Achievements Emerged from restructuring with a strong balance sheet Equitized 1.2 billion in debt and reduced annual interest expense by 110 million Enterprise value: Approximately 1.2 billion Debt/Adjusted LTM EBITDA:…
2017 Strategy STACK position provides significant growth potential Transition Chaparral to a Pursue strategic alternatives to monetize Enhanced Oil Recovery (EOR) assets Pure-Play STACK Company Retained CIBC Griffis & Small to market…
2017 Oil & Gas Capital Budget Summary CAPEX (1) Oil-weighted capital budget of 170 - 190 million (2) Other, 5% Approximately 130 million allocated to STACK Approximately 50% allocated to Kingfisher County and the Merge…
Production Growth STACK 9.5 Guidance High 10,000 Boe/d 9,136 9.1 Guidance Low 8,166 Total production raised due to op and non-op activity 8,000 7,693 7,514 7,289 Expect STACK production to grow 25% from 2016 to 2017 6,000 2017 STACK…
Asset Overview STACK Premier basin with industry-leading returns Large contiguous acreage position with exposure to all current economic reservoir targets Multi-year drilling inventory supporting significant future growth Early…
STACK Overview ALFAFA Asset Overview WOODS Approximately 110,000 acres GARFIELD 9.1 MBoe/d in Q2 2017 WOODWARD MAJOR 65 operated producing wells as of Q2 2017 Attributes/Characteristics DEWEY STACK Chaparral acreage is…
STACK Kingfisher Overview Kingfisher Overview 25,500 surface acres 5.7 MBoe/d in Q2 2017 53 operated producing wells Attributes Productive reservoir for the Meramec, Osage and Oswego Potential of multiple target intervals per…
STACK Canadian Overview Canadian Overview Approximately 25,000 acres 2.2 MBoe/d in Q2 2017 Five operated producing wells Attributes Also know by the MERGE, it is bounded by the CANA Woodford play to the west and the SCOOP to the…
One Petroleum System N REGIONAL STACK CROSS SECTION 60 MILES S STACK Attributes STACK MERGE Stacked reservoirs proximal to the world-class Woodford GARFIELD COUNTY KINGFISHER COUNTY CANADIAN COUNTY GRADY COUNTY source rock Efficient…
Why We Like Garfield County Woodford Isopach Woodford Source Rock Proximity to source increases likelihood of successful wells. Maturity is in the oil window. Combined with migration from Woodford deeper in the basin increase…
Why We Like Garfield County Vertical Well Density Woodford Source Rock Proximity to source increases likelihood of successful wells Maturity is in the oil window Combined with migration from Woodford deeper in the basin increase…
Why We Like Garfield County Meramec Isopach Woodford Source Rock Proximity to source increases likelihood of successful wells Maturity is in the oil window Combined with migration from Woodford deeper in the basin increase chances…
STACK Garfield Overview LEE 1MH-1 WHITE OAK 1UMH-36 (Chaparral) (Chaparral) Garfield Overview Spud Date: 12/31/13 Peak IP-30: 883 Boe/d Spud Date: 5/7/17 Peak IP-30: 665 Boe/d Oil: 35% Oil: 14% Approximately 40,000 acres Lateral…
Currently Identified Drilling Inventory by Play Extensive operated drilling inventory STACK Operated Drilling Inventory by Type 174-rig years 4,000 Kingfisher County Osage, Meramec and Oswego essentially de-risked 1.5 rigs 3 rigs 4…
Chaparral Well Performance in STACK Enhanced Completion Tests in the STACK Demonstrated Performance Over Last 12 Months Initiated enhanced completion program in Q2 2016 to test Increased proppant loading continues to support current…
Operational Excellence Drilling and Completions Strong, Effective Focus on Cost Reduction/Control Demonstrated D&C cost improvements Average D&C cost of 3.5 million from Q1 2016 to Q2 2017 2017 average Meramec D&C cost of 3.7 million,…
Why Chaparral Peer Leading Balance Sheet Strong Management Execution-focused Team with Excellent STACK Player Track Record Deep Inventory of High-return Drilling Prospects 19
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