UTICA SHALE DIVESTITURE AND POWDER RIVER BASIN UPDATE July 26, 2018
UNLOCKING OUR FUTURE UTICA SHALE DIVESTITURE (1) Assumes flat 2018 commodity prices and basis differentials (2) Estimated at 1/1/2019 July 26, 2018 Update 3
UTICA DIVESTMENT OVERVIEW Buyer Encino Acquisition Partners CHK UTICA ACREAGE POSITION Purchase price 2.0 billion DEAL Net proceeds for debt 1.9 billion Potential commodity price adjustment 100 million (expires…
(1) TRANSFORMING INTO A MORE COMPETITIVE COMPANY (1) Gives effect to Utica Shale divestiture (2) Production expense, G&A and stock-based compensation July 26, 2018 Update 5
POWDER RIVER BASIN PRODUCTION GROWING RAPIDLY (1) 90% OIL GROWTH YTD, 100% EXPECTED IN 2019 80 70 32 mboe/d (2) Current field rate 60 Net Production (mboe/d) 50 40 30 20 10 0 Q1 2017 Q2 2017 Q3 2017…
TURNER LEADING THE WAY THE PREMIER PRB OPPORTUNITY Current Rig Location Turner Producing Well Progress to date Planned TIL 2018 Future Well De-risking acreage Turner 18 Turner producers to date TIL pace accelerating…
EXECUTING ON OUR STRATEGY Reducing leverage o 2 3 billion of debt reduction o Ultimate goal of 2x debt/EBITDA Enhancing margins o Attacking all areas of cash costs o Funding our highest returning projects Achieving free cash…