Fourth Quarter and Full Year 2018 Supplemental Presentation
Riviera Resources Recent Developments Highlighted Accomplishments: Executed the spin-off from LINN Energy, Inc. on August 7, 2018 Returned more than 155 million of capital to shareholders through share repurchases Sold Arkoma Basin…
Riviera Resources Sum of the Parts Growth Oriented Assets funded by Growth Oriented Midstream business Strong Balance Sheet Income Generating Assets requiring minimal capital Supported by separate management team More than 825…
Riviera Upstream Assets Overview Growth 274 MMcfe/d(1) 1.5 Tcfe(2) 10%(2) Mid-Continent Fourth Quarter 2018 78% Natural Gas Approximate Net Production of 27 MMcfe/d Net Production 20% NGL Base Decline Rate NW STACK Core acreage…
2018 Year End Proved Reserves All assets owned by Riviera as of December 31, 2018 78% Natural Gas 1.6 Tcfe of Standardized Measure Proved Reserves PV-10 of 747 million 6%4% 4%5% 21% 1% 78% 90% 91% Natural Gas Oil NGL PDP…
Pro-Forma 2018 Year End Proved Reserves Proved Developed Reserves as of December 31, 2018 YE 2018 YE 2018 Pro- Proved Pro-Forma Forma Updated Developed Adjustments Pricing PV-10 (1)&(2) PV-10 (2),(3),(4),(5) (210) 75…
NW STACK Position NW STACK Position Approximately 65,000 core net acres within Rivieras focus area of Major, Blaine, and Garfield counties Acreage is 98% HBP and 75% operated(1) Acreage located in black oil window Shallow…
NW STACK Recent Activity Sutter 3-30H Newton 1-31H Byfield 1-31H Susan 1-15H Operator: Fairway Operator: Fairway Operator: Fairway Formation: U. Osage Formation: U. Osage Formation: U. Osage Formation: MRMC Currently Drilling Lateral…
North Louisiana - Overview North Louisiana Position Approximately 100,000 net acres across northern Louisiana Ruston Field Acreage is 99% HBP and 63% operated Ruston field is direct offset to prolific Terryville field…
2018 A Year of Transformation Growth-oriented midstream company focused on Merge/SCOOP/STACK plays in Oklahoma Supported by dedicated acreage position of more than 80,000 net acres under long-term G&P contracts New management team…
Merge Water Project Initial Buildout Blue Mountain to provide midstream water services including pipeline gathering, disposal, treatment and redelivery of recycled water for re-use 10-year acreage dedication from Roan Resources in…
Blue Mountain Key Statistics Operating Margin (1) Capital ( in millions) ( in millions) 150 125 11 132 Average Throughput Gathered MMcf/d 125 123 96 100 75 75 53 61 62 50 2 25 50 43 1 33 0 0 Q1 2018 Q2…
Consolidated Year-End Net Debt Reconciliation ( in millions) Previous Guidance Projected Net Q4 2018 Q4 2018 Revolving Credit Adjusted EBITDAX Q4 2018 Share Repurchases Net Revolving Credit Facility Balance Amount Capital Spending…
Baseline Riviera Upstream Adjusted EBITDAX Bridge Baseline for 2019 2018 Adjustments Riviera Riviera for Baseline Upstream Resources EBITDAX 140 120 54 100 in Millions (40) 80 27 134 60 (14) 107 40 66 53 53…
Pro-Forma Riviera Upstream 2019 Adjusted EBITDAX Outlook Baseline 2019 Pro- for 2019 Forma Baseline Pro-Forma Riviera Riviera Adjustments Adjustments Upstream Upstream Guidance 140 120 (29) 100 (9) (1) in Millions…
2019 Upstream Capital Summary ( in millions) 2019E CAPITAL UPSTREAM - 66 MILLION NW N LA STACK Drilling 41 Seismic 5 11 52 Leasing 2 Focusing upstream capital on high-return projects that maintain production and…
Riviera Resources Share Buybacks Through February 22, 2019 Riviera has returned approximately 155 million to shareholders since the Spin-Off ( in millions) 180 160 3 140 19 120 100 80 155 152 152 133 133 60 40 20…
Riviera Upstream Commodity Hedge Portfolio (As of February 15, 2019) 2019 2020 Volume Average Price Volume Average Price Natural Gas (MMMBtu/d) (per MMBtu) (MMMBtu/d) (per MMBtu) Swaps 141 2.88 30 2.82 Collars 20 2.75 - 3.00 -…
Blue Mountain Commodity Hedge Portfolio (As of February 15, 2019) Q1 2019 Q2 Q4 2019 Volume Average Price Volume Average Price Natural Gas (MMMBtu/d) (per MMBtu) (MMMBtu/d) (per MMBtu) Swaps 10 4.19 15 2.81 Volume Average Price…
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