Q218 Review Oil production growth: Record production of 17,901 Bbl/d, representing a 4% increase QoQ Permian horizontal success: Brought online 9 Permian horizontal wells in Q2, representing 29 brought online year-to-date and 76 since…
Permian Horizontal Drilling Results We have brought online 76 horizontal wells with strong collective results from the commencement of our JDA program three years ago Lea County, NM Howard County, TX Assets include 3,200 gross…
Blocking Up Midland Basin Acreage Recently completed multiple transactions that significantly enhance projected economics of near-term Midland Basin drilling Increased Net Lateral Footage for 3 Trade Summary Horizontal Prospects…
Monetizing small tracts via trades to extend core Midland Basin lateral lengths. Highly Accretive Transactions Beach Project Before After Small Tracts Traded Away Before After Gross Locations 47 33 Net Lateral Footage 187,500…
. and we have a lot more of them in our portfolio Legacys historical focus on PDP acquisitions Current View of Smaller Tracts Summary in the Permian Basin has yielded a large Delaware Midland portfolio of small tracts…
Operated Permian Horizontal Acreage with Identified Locations Northwest Shelf Total Acreage Midland Basin Gross Net Total Acreage 13,600 12,000 Gross Net 12,000 10,600 Central Basin Delaware Platform Basin Total Acreage…
Operated Horizontal Development Inventory Operated Horizontal Drilling Locations - Permian and East Tx Legacys continued evaluation of its (1) Wells PDP at Q2'18 Total Identified Locations per acreage has yielded an increase in…
Transaction Update Preferred Settlement: Entered into the Settlement Agreement. Preferred transaction consideration increased from 16.9 million to 27.6 million shares of New Legacy. Approvals and Consents: Obtained required…
LGCY: Key Takeaways Stable, low-decline PDP with meaningful free cash flow Significant operated horizontal inventory Experienced team with capacity to accelerate development Proposed structure expected to enhance access…
Appendix 12
Legacy Reserves Long-standing Midland, Texas-based operator (NASDAQ: LGCY) Stable PDP footprint generates significant cash flow to fund capex Permian Basin East Texas Significant horizontal Permian inventory and demonstrated…
Large-Scale, Stable PDP Our shallow-decline PDP generates free cash flow to fund the development of our significant horizontal Permian inventory Q218 daily production of 47.5 MBoepd 1.1 billion PDP PV-10(1) Underlying PDP decline…
Positioning for Success Through the Downturn Upstream MLP Peer Timeline: Over this time period, 11 of Legacys 13-member MLP peer group filed for bankruptcy or transitioned away from upstream operations February 2017 VNR X March…
Corporate Transition Overview Key structural and ownership changes: Legacy units exchanged one-to-one for common shares in New Legacy New Legacy acquires Legacys General Partner (GP LLC) 9.5 million preferred units exchanged for 16.9…
Transaction Benefits The Transaction provides clear benefits to Legacy as it: Allows entrance into more supportive C-Corp sector Following widespread bankruptcy filings and the destruction of nearly all of the collective equity value…
Balance Sheet ( in millions, except where indicated otherwise) Trans. PF YE'16 6/30/18 Adj. Debt Maturities (1) Revolving credit facility due 2019 463 508 33 541 12% 2nd Lien Term Loan due 2021 60 339 339 600 8% Senior Notes due…
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