Jagged Peak Overview A Leading Delaware Basin Pure Play Large contiguous position in the deep, over-pressured oil Delaware Basin (1) window of the Delaware Basin Yoakum 79,000 net acres with average WI 88% laid out in blocky,…
Asset Overview Three Concentrated Project Areas in the Southern Delaware JAG Acreage Whiskey Cochise Big Tex 0 5 10 % Oil River Miles Current Acres (net) (1) 12,900 36,000 30,200 Cochise PDP Locations 20 62 9 Undrilled…
Robust Growth Profile Rapid Growth Underpinned by Strong Returns 160% annual production CAGR since 1Q16 Expected annual production growth of 75% in 2018; Expected quarterly production growth of 15% in 2Q18 Confident in allocating…
Solid Operational Performance High-growth Oily Asset With Competitive Cost Structure Industry leading oil content 1Q18 vs. 1Q17 Production Growth 1Q18 LTM Oil Content drives superior revenue 193% 182% (% oil) 79% Established…
Attractive Corporate Level Returns Low-cost, High-margin Asset Base Drives High Return on Capital Employed (ROCE) Profitable wells coupled with attractive corporate margins drive strong full-cycle returns Oily asset base drives…
2018 Strategic Initiatives Focused on Execution Increase technical understanding of the reservoir system and apply into the development program 3-D seismic data obtained and integrated into Cochise program; additional 3D data to be…
3D Seismic Program Fast-Track Seismic Data is Informing 2018 Program 3D Seismic Update Leasehold Map (2) Cochise: Completed and integrated into planning and geo-steering in 2Q18 Whiskey River: Fast tracked data obtained; full data…
Integrating 3-D Seismic Data Better Well Placement Drives Better Results State Whiskey River 4A-8 2H 100% in target window IP30: 2,073 Boe/d 150-Day Cumulative Production: 200 MBoe Completed lateral length: 10,219 3BS…
Drilling and Completion Efficiencies Focus on Improving Efficiencies to Drive Down Costs and Improve Well Results Drilling Commentary Drilling Performance 10% improvement in average footage drilled per day from 2017 745 Set Company…
Water Infrastructure Overview Owned and Operated Water Infrastructure Provides Operating and Cost Advantages Water infrastructure provides Area SWD Capacity Freshwater Capacity 100% of water requirements Whiskey River 120 MBw/d 155…
Oil Takeaway Capacity Oil Pipeline Capacity Secured to Maintain Flow Assurance Regional Gathering & Transportation Overview Substantially all oil production currently on Midland Regional Hub pipe JAG Leasehold Key Regional Hub Oryx…
Strong Financial Position Company Maintains Ample Liquidity and Low Leverage Profile Focus on discipline and financial flexibility Maintain conservative capital structure and liquidity Capitalization Table as of March 31, 2018 Well…
Hedging Update Hedged Over 2/3 of Expected Volumes in 2018 to Protect Cash Flows WTI Swaps 52.43 52.69 54.17 54.46 54.82 54.82 54.82 54.82 22,500 Weighted Average WTI Oil Price 50.00 Oil Volumes Hedged (Bbls/d) 20,000…
Investment Case for Jagged Peak Top-Tier Asset, Peer Leading Returns 79,000 net acre contiguous position in the deep, over- Premier Asset in Southern pressured oil window of the Delaware Basin Extensive inventory of high-margin…
Appendix 16
2018 Guidance Development Program Highlights 2018 Guidance Summary 2018 capital focused on managing activity in coordination 2018 Guidance Range with data acquisition and interpretation while increasing Production production and…
Proving-up Additional Inventory Whiskey River Type Log Collier 1201 Current location inventory includes Current Location Inventory the well-delineated Upper / Lower Active Appraisal Wolfcamp A, Wolfcamp B, 3rd Bone Upside Target…
Incredible 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 MMBo/sec…
Extensive Drilling Inventory With Long Laterals Current Target Drilling Locations in Well Delineated Formations Identified Locations by Formation TBD TBD 600+ 2,700 WDFD WC C 778 116 2,083 660' Spacing 472 717…
Track Record of Oil-Weighted Reserves Growth 2017 total proved reserves increased 118% Total Reserves Growth (1) year-over-year to 82.4 MMBoe 118% Growth 79% oil, 10% NGL, 11% gas 82.4 46% proved developed 37.7 PD reserves…
Type Curve Developed from JAG Results Lower WC A All Lower WC A Average JAG Internal Type Curve Ryder Scott Type Curve Note: Production normalized to 9,000 effective lateral using a 75% scaling factor. 22
First Quarter 2018 Operating Results 1Q17 1Q18 % Change Average Daily Production Oil (MBo/d) 8.3 21.9 164% NGL (MBbl/d) 0.8 2.7 224% Gas (MMcf/d) 4.1 18.5 350% Total (MBoe/d) 9.8 27.6 182% Cash Opex ( / Boe) LOE 1.83 3.91…
Non-GAAP Reconciliation Three Months Ended Twelve Months Ended March 31, December 31, 2018 2017 (in thousands) (in thousands) Adjusted Net Income (Loss) Net income (loss) (39,403) (465,881) Adjustments to reconcile to Adjusted net…
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