Enercom The Oil And Gas Conference 23 August 20, 2018
Jagged Peak Overview A Leading Delaware Basin Pure Play Delaware Basin (1) Large contiguous position in the deep, over-pressured oil window of the Yoakum Delaware Basin 79,300 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 % Oil River 0 5 10 Miles Current Acres (net) (1) 12,900 36,000 30,400 Cochise PDP Locations 20 62 9 Undrilled…
2018 Strategic Initiatives Moving Jagged Peak into its Next Stage of Development Increase technical understanding of the reservoir system and apply into the development program Focus on generating best-in-class operational execution…
Second Quarter Recap Strong growth in production and adjusted EBITDAX Production Strong adjusted EBITDAX growth in 2Q18 resulting from 34.6 improved EBITDAX margin of 37.71 per Bbl, and 27.6 robust production growth 24.2…
Solid Operational Performance High-growth Oily Asset With Competitive Cost Structure Industry leading oil content drives 2Q18 vs. 2Q17 Production Growth 2Q18 LTM Oil Content superior revenue Established infrastructure and 135% (%…
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…
Second Quarter Well Performance Notable Wells in Whiskey River Cumulative Plot for 2Q18 Wells Brought Online Strong IP30 Results from Whiskey River 20 Whiskey River 18 16 Bigfoot 106105B-34 51H Cumulative Production…
Utilizing 3D Seismic in Well Planning and Geosteering Early Results Showing Significant Improvement Over Legacy Wells Geo-Steering using 3D in Cochise Improving Execution Utilizing 3D W E Utilizing 3D seismic to guide landing and…
Big Tex Showing Promising Results First 3rd Bone Spring Well Outperforming Type Curve 3rd Bone Spring to Wolfcamp B Isopach New Target Showing Promise Strong results from first test of 3rd Bone Spring target in Big Tex, PE trending…
Drilling and Completion Efficiencies Focus on Improving Efficiencies to Drive Down Costs and Improve Well Results Drilling Commentary Drilling Performance Set Company spud-to-TD drilling record in 2Q18; drilled a well with 21,000…
Water Infrastructure Overview Owned and Operated Water Infrastructure Provides Operating and Cost Advantages Area SWD Capacity Freshwater Capacity Whiskey River 120 MBw/d 155 MBw/d supply + 5.5 MMBw storage Water infrastructure…
Oil Takeaway Capacity Oil Pipeline Capacity Secured to Maintain Flow Assurance Regional Gathering & Transportation Overview Substantially all oil production currently on pipe, JAG Leasehold Midland Regional Hub minimizes risk of…
Hedging Update Added Hedges Through 2020 to Protect Cash Flows and Mitigate Risk of Widening Basis Differential WTI Swaps Jagged Peak has hedged 30 59.95 59.95 59.95 59.95 60.82 60.82 60.82 60.82 Weighted Average WTI Oil Price…
Strong Financial Position Company Maintains Ample Liquidity and Low Leverage Profile Retermined borrowing base at 825 million, a 52% increase; Capitalization Table as of June 30, 2018 commitments increased to 540 million Quarter…
Investment Case for Jagged Peak Top-Tier Asset, Peer Leading Returns 79,300(1) net acre contiguous position in the deep, over-pressured oil window of the Premier Asset in Southern Delaware Basin Extensive inventory of high-margin…
Appendix 17
Updated 2018 Guidance Increases to activity, production, and capital 2018 Development Program Changes Updated 2018 Guidance Summary Production Average Daily Equivalent Production (MBoe/d) 32.0 34.0 Average Daily Oil Production…
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 Wolfcamp…
Second Quarter 2018 Operating Results 2Q18 2Q17 %Change Average Daily Production Oil (MBbls/d) 26,921 11,858 127% NGL (MBbl/d) 3,575 1,540 132% Gas (MMcf/d) 24,399 7,896 209% Total (Mboe/d) 34,562 14,714 135% Cash Opex (/Boe) LOE…
Non-GAAP Reconciliation The following tables provide reconciliations of the GAAP financial measure of Net Income (Loss) to the non-GAAP financial measures of Adjusted Net Income (Loss) and Adjusted EBITDAX. A description of the…
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