Capital Structure and Market Summary Capital Structure Market Capitalization (As of January 24, 2018) 2.6 billion Series A Preferred 185 million Net Debt(1) 883 million Enterprise Value 3.7 billion Net Debt / EBITDAX(2) 2.2x…
Key Investment Highlights DJ Basin Net Acreage DJ Basin-Focused Position of Scale CO 320,000 net acres with 165,000 in core DJ Basin(1) Laramie Kimball Contiguous acreage blocks allow for longer laterals Limited vertical well…
Transitioning from Growth to Returns-Focused Growth Phase Returns Phase Significant outspend pre- Cash flow-driven growth Average Daily Production funded with equity and Targeting Cash-flow Neutrality in 2H18 Efficient…
2018 Strategy and Guidance: Focused on Execution Strategy Grow production by 75% year-over-year bringing capex equal to cash flow in 2H18 Targeting run-rate net leverage of approximately 1.5x Net Debt-to-EBITDAX in the long-term…
Expansive Acreage Position Provides Midstream Optionality DJ Basin Net Acreage Uniquely positioned to grow production despite the elevated line pressures in northern portion of Wattenberg Field 75% of core acreage outside of DCPs…
Successfully Delivering On Value Drivers Execution on current development program on track Increased production guidance since start of 2017 70%+ production growth for 2017 Continued results from enhanced completions Windsor…
Extractions Next Set of Upcoming Value Drivers Execution on 2018 development program Northern Extension delineation and de-risking Flowing back; On production by YE17 Initial Broomfield Area tests spud in 1Q18 Demonstrates…
Enhanced Completions Continued Success Enhanced Niobrara Oil Rates 16,000 Actual Average 14,000 50% Enhanced 20% Enhanced 12,000 Cumulative Oil per 1,000' 10,000 8,000 6,000 4,000 2,000 0 0 30 60 90…
Hawkeye Area: Large Inventory of High-Return, High Working Interest Drilling Locations Acquisition total in Hawkeye area: 66,000 net acres for 25,000 Hawkeye Area Well Results 470mm in Arapahoe and Adams Counties; 255mm closed…
Offset Operator Activity in Hawkeye Area 1 11 Watkins 30-5-4H Sunset 21-22 1H 6 Mo CUM/1,000: 21 MBOE 6 Mo CUM/1,000: 15 MBOE (61% Oil) (78% Oil) LL: 3,866 LL: 8,950 2 12 Tebo 29 2H Tebo 4 1H 6 Mo CUM/1,000: 19 MBOE 6 Mo CUM/1,000:…
Strong Offset Operator Results Near Broomfield Project Offset Broomfield Niobrara Oil Production Extraction Acreage, Offset Well Pads 16,000 Actual Average 14,000 Standard Nio Type Curve Cumulative Oil per 1,000' 12,000 Pad…
Northern Extension Acreage Overview Highlights Northern Extension Acreage and Offset Permit Activity 155,000 net acres concentrated in Northern Weld County EOG area of activity EOG Wells Codell Gross EUR/well (Mboe) 695 Represents…
Management Incentives Aligned with Shareholder Value Creation 7% Management Ownership a 2017 Annual Short-Term Plan Incentive Plan Highlights a Financial Goals Net Debt Ratio Cash Recycle Ratio Rate-of-Return for 2017 TIL wells…
Ample Liquidity to Execute Growth Plan Liquidity as of 9/30/17(1) Enhanced liquidity profile through IPO, Dec. 2016 equity offering, and recent senior ( in millions) unsecured notes issuance Cash on Balance Sheet 267 Top tier…
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) 3.0x Median 2.7x 2.3x 2.2x Permian Peers XOG DJ…
Cash Flow Protection Through Hedges Strong hedge portfolio protects cash flow Maintain a multi-year rolling hedge program 2018E positions: 5,100 MBbls of oil hedged with swaps that have an average price of 51.61/Bbl 7,050 MBbls of…
Well-Positioned for 2018 and Beyond Ample liquidity and strong balance sheet Existing high quality and extensive drilling inventory Upcoming Value Drivers: 1. Execution on 2018 development plan 2. Northern Extension delineation…
Appendix 21
2018 Outlook XOG Guidance 2018 outlook reflects a 2+ rig & 2+ frac fleets operated program as well as additional capital Production 2017E 2018E for land and non-operated wells Net Sales (MBoed) 51.5 52.0 87 93 Approximately 85 gross…
2017 Guidance Guidance Summary 2017E 2018E 2017E Production 2017E Capital Expenditures(1) NGL Lease Operating Expense (/boe) 3.05-3.15 2.45-2.85 20-22% Land / Midstream / Other 7% Transp. & Marketing (/boe) 2.50-2.70 1.00-1.20…
Third-Quarter 2017 Results Summary XOG Outperformed Q3 Guidance Q3 Results Highlights Q3 Revised FY17 crude oil production Guidance Actual Delta guidance to 25.5-26.5 MBbl/d from 24-27 Midpoints MBbl/d Oil Sales (MBbld) 32,500…
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 DJ Basin Prospective Horizons DJ Basin Formations Other Major…
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(3) 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 10 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 Last Twe lve Months For…
Corporate Contact Information Extraction Oil & Gas, Inc. Auditor 370 17th Street PricewaterhouseCoopers LLP Suite 5300 Denver, Colorado Denver, Colorado 80202 720-974-7773 Independent Petroleum Engineer Ryder Scott Denver,…
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