Legacy Reserves Long-standing Midland, Texas-based operator (NASDAQ: LGCY) Stable PDP footprint generates significant cash Permian Basin East Texas flow to fund capex Rocky Mountain Mid-Continent Headquarters Significant…
Large-Scale, Stable PDP Our shallow-decline PDP generates free cash flow to fund our horizontal development Q218 daily production of 47.5 MBoepd 1.1 billion PDP PV-10(1) Underlying PDP decline rate of 11%(1)(2) and PDP R/P of 9.6…
Repositioning for Success Upstream MLP Timeline: Over this time period, 11 of the 13 Upstream MLPs filed for bankruptcy or transitioned away from upstream operations February 2017 VNR X March 2016 July 2016 (EROC) NSLP X ARP X…
Corporate Transition In September 2018, we successfully completed our corporate transition to become a C-Corp: Legacy units exchanged one-to-one for common shares in Legacy Reserves Inc. Legacys preferred units exchanged approximately…
Permian Horizontal Drilling Results We have brought online 76 horizontal wells with strong collective results since the commencement of our JDA program three years ago Recently spud the final well under the JDA, with future wells…
Recent Midland Basin Acreage Swaps 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…
Horizontal Permian Prospectivity Total Company Northwest Gross Net Shelf Total Acreage 51,500 41,000 Gross Net Midland Basin 55,600 + 15,400 + 13,600 12,000 Total Acreage 13,600 12,000 Gross Net 12,000 10,600 31,800 12,700…
Shafter Lake Field Offset Horizontal San Andres Development Acreage Map Lime Rock UL 13 Jaffrey 4414H Gaines 1 30/IP 629 BOPD Lateral: 4,328 5 Lime Rock UL 13 Jaffrey 3123H 2 3 Andrews 30/IP 479 BOPD 4 Lateral: 5,246 1 2…
East Texas Horizontal Prospect Summary Freestone Area 21,000 gross / 17,400 net horizontal Shelby Area 19,200 Gross / 12,800 Net Hz Acres acres identified on 120,000 gross / 107,800 net total acres Primary Target: Haynesville & Bossier…
East Texas Analogue Horizontal Well Results Freestone Hz Results Normalized to 5,000 Shelby Area Results Normalized to 7,500 Cum Mmcf Cum Mmcf 4-Well Avg: 15,000 15,000 EUR: 2.2 Bcf / 1,000 Lateral 31-Well Avg: EUR: 2.2 Bcf / 1,000…
Operated Horizontal Development Inventory Operated Horizontal Drilling Locations - Permian and East Tx Legacys continued evaluation of its (1) Wells acreage has yielded an increase in PDP at Q2'18 Gross Net Total Identified…
Capitalization Table ( in millions, except where indicated otherwise) C-Corp PF Adj. Exch. PF Adj. Convert PF Debt Maturities (1) Revolving credit facility due 2019 541 2 543 543 12% 2nd Lien Term Loan due 2021 (2) 339 339 339 600…
LGCY: Key Takeaways Stable, low-decline PDP with meaningful free cash flow Significant operated horizontal inventory Experienced team with capacity to accelerate development C-Corp transition expected to enhance access…
Appendix 19
Hedge Summary + Price Sensitivities Currently 58% and 42% hedged at -1.13 and -3.04 in 2H18 and 2019, respectively % Oil Hedged(1) % Natural Gas Hedged(1) 80% 70% 68% 61% 70% 60% 58% 60% 50% 47% 43% 50% 42% 40% 40% 30%…
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