Legacy Reserves Overview Stable, low-decline PDP generates strong cash flow Significant development potential in Permian and East Texas Proven management team C-Corp transition lowers cost of capital to fuel growth…
Legacy Reserves Inc. Long-standing Midland, Texas-based company Q318 Production by Region focused on prudent operations and efficient resource development (NASDAQ: LGCY) 28% 1% 47% 24% 49.1 MBoepd Proved PV-10 by…
Stable, low-decline PDP generates strong cash flow Our shallow-decline PDP generates free cash flow to fund horizontal development Q318 daily production of 49.1 MBoepd 1.1 billion PDP PV-10(1) Underlying PDP decline rate of…
Horizontal Permian Prospectivity Total Company Northwest Shelf Gross Net Gross Net 49,800 39,500 13,600 12,000 113,900 49,600 42,900 24,100 Midland Basin 163,700 89,100 56,500 36,100 Gross Net 10,900 9,500 26,500 11,000 37,400…
Operated Horizontal Development Inventory Provides Significant Runway Wells (1) PDP at Q2'18 Total Identified Locations per This table represents identified Gross Net Gross Net Section(2) operated locations based upon our Permian…
Large Accumulation of Small Tracts Current View of Smaller Tracts Legacys historical focus on PDP NEW acquisitions in the Permian Basin has yielded a large portfolio of small tracts Central…
Provides Great Trade Opportunities to Enhance Economics of Core Prospects Completed multiple transactions in 2018 that significantly enhance projected economics of near-term Midland Basin drilling Increased Net Lateral Footage for 3…
Permian Horizontal Drilling Results We have brought online 83 horizontal wells with strong collective results since the commencement of our JDA program three years ago Recently completed the final well under the JDA, with future wells…
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 31-Well Avg: 4-Well Avg: 15,000 EUR: 2.2 Bcf / 1,000 Lateral 15,000 EUR: 2.2 Bcf / 1,000…
Company Status Update Recently reached the starting line as a C-Corp, completing a multi-year business transition from an MLP to a development company including improvements to our: Land: Identified & grew our prospective Permian land…
Company Status Update Currently evaluating 2019 plans given the recent selloff in crude oil markets and runup in gas market 2019 NYMEX oil strip has fallen from 73.64 to 51.13(1) since October 1 2019 NYMEX gas strip has risen from…
Capitalization Table ( in millions, except where indicated otherwise) 9/30/18 Convert Adj. Convert PF Debt Maturities Revolving credit facility due 2019 529 529 (1) 339 339 600 12% 2nd Lien Term Loan due 2021 8% Senior Notes due…
Legacy Reserves Overview Stable, low-decline PDP generates strong cash flow Significant development potential in Permian and East Texas Proven management team C-Corp transition lowers cost of capital to fuel growth…
Appendix 19
Strong 2018 A&D Execution Legacys seasoned A&D team continues to execute on our strategy to sell assets that do not exhibit i) growth potential or ii) sufficient cash flow profile: Transaction Statistics Total Sales Price (MM)…
Hedge Summary + Price Sensitivities Mid-Cush: Currently 68% and 53% hedged at -1.13 and -3.33 in 2H18 and 2019, respectively % Oil Hedged(1) % Natural Gas Hedged*(1) 80% 70% 68% 61% 62% 70% 60% 58% 58% 60% 47% 47% 47% 50%…
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