Net Reserves Reserves1 PV-102 (MMBoe) Billions 1P 8 4. 0 1 . 4 2P 1 51 . 8 2 . 5 3P 2 52 . 2 4. 1 Liquids % of 1P Reserves 58 % 2018 Average Production 36. 5 M B oe/d 2018 Adjusted EBITDA3 344 M M Market Cap4: 97 2 M M 51 5,…
Multiple stacked pay development opportunities S tac ked res ervoirs offerattrac tive prim ary prod u c tion and rec om pletion opportu nities A d vanc ed s eism ic and geos c ienc e greatly im prove ability to id entify d rilling…
nd 1 Gulf of Mexico Historical Oil Production YE 2018 US Oil Production by Key Region 1 (MMBod) GOM production (MBOPD) at all-time high 2000 0.4 0.4 0.5 1750 3.3 1500 1.3 Total: 1250 9.1 MMBod 1000 750 1.4 500 1.8 250 TX &…
WTIs Deepwater portfolio is expanding and diversifying with the Heidelberg Asset (2018) as its latest addition WTI operates and participates in various Deepwater Production Facilities, including TLPs, E-TLPs, SPARs, Deepwater fixed…
1 2 3 4 5 Technical AFE Leads Screening Execute Evaluation Review 1 Leads high graded for review; once approved, project team assigned and deadlines set 2 Cursory technical evaluation with management and land review with scoping…
S trong D rive M ec hanism s A llow Reserve P rod u c tion From FewerW ellbores 8
1 84.0 MMBOE NET PROVED RESERVES FOR YEAR-END 2018 100 13.3 23.2 80 84.0 74.2 60 40 20 0 Year-End 2017 Additions and Revisions 2018 Production Year-End 2018 P erform anc e A d d itions P rice Revisions E xtens ion, D…
1 W TIfoc u s ed on realizing the res erves u ps id e and ad d ing ec onom ic valu e ac ros s three c ategories : Prob + Poss Unrelated to 1P 1 Prob + Poss Related to PDP 2 Prob + Poss Related to PDNP + PUD 3 Reserves N o ad d…
A c tu alRes u lts 1, 2, 3 Current 1P Initial 3P booking Current 1P Initial 3P booking Current 1P Initial 1P booking 100 93.7 80 + 16.9 60 59.0 + 8.9 52.3 47.3 40 + 3.5 34.5 34.8 31.0 28.4 20 22.1 14.3 10.2…
1 SS 349 Mahogany (WI: 100%, NRI 83.3%) Mahogany Platform S u bs tantially expand ed the s ize and d epth ofthe field s inc e 2 0 11 by d rilling/sid etrac king 1 3 new prod u c ing loc ations S tac ked pay s and s : A tleas ts ix…
All assets aside from Mahogany are LEGEND part of Monza JV or are eligible to be Main Pass Area D eveloped L eas es included in Monza JV Multiple recompletion opportunities executed Und eveloped E xploration L eas es or…
1 Selected Growth Prospects 13 Development 3 Exploration 3 Development 4 Exploration 4 Development 5 Exploration 5 Exploration 6 Exploration 50 N earTerm P rospec ts with 39 P latform W ells and 11 S u bsea Tiebac…
S ec u red 361 . 4 M M c om m itm entforthe d evelopm entof1 4 pre-id entified projec ts in the GO M with potentialto u ps ize program overtim e with ad d itionalprojec ts C overs the totales tim ated c os tof the 1 4 wells of 336 M M…
M aintain a pru d entbalanc e sheetand u se free c ash flow to grow opportu nistic ally Inventory Organic Projects Asset Acquisitions Expansion GenerateS hareholderValue 16
120 MM CAPEX Allocation 14% 39% 14% 9% 24% Drilling Completions Facilities Recompletions Seismic, Lease Hold & Other 2019 C apitalE xpec ted to be Fu nd ed by C ash From O perations 17
A C Q UIS ITIO N O P P O RTUN ITIE S A C Q UIS ITIO N C RITE RIA GOM Exits Generating Cash Flow C om panies exiting the GO M S trong c u rrentprod u c tion provid e a large inventory of rates with the opportu nity to ac c retive as…
11 5 M M 2 0 6 M M 55 M M P aid ou tin A u g. 2 0 11 P aid ou tin N ov. 2 0 1 4 P aid ou tin Ju ne 2 0 1 8 C u rrentnetaverage prod u c tion1 of1 , 1 0 0 C u rrentnetaverage prod u c tion1 of C u rrentnetaverage prod u c tion1 of B…
400 344 350 300 268 1 250 202 200 179 152 72 150 121 29 17 100 72 130 50 106 49 0 2016 2017 2018 Adj. EBITDA 1 CAPEX ARO Spending Heidelberg Acquisition S u bstantialC ash Flow Generation P rovid es O ptionality…
D es pite falling c om m od ity prices in 2 0 1 5 and 2 0 1 6 pu tting pres s u re on realized price, W TIwas able to take ad vantage ofa favorable s ervices environm entto renegotiate long-term s ervice c ontrac ts and red u c e fixed…
1 2 50 . 0 Undiscounted P&A Schedule (MM) Accelerating P&A To Capture Resulting in Low ARO Low Costs Burden Over Next 5 Years WTI took advantage of low service cost Average annual ARO liability of 23MM 2 0 0 . 0 environments in…
Liquidity as of 12/31/18 9. 7 5% 2 nd L ien N otes d u e 2 0 2 3 62 5 M M RB L B orrowings 1 21 M M S im plified c apitals tru c tu re Total Debt 646 MM Red u c ed d ebtprinc ipal TotalC as h & E q u ivalents 33 M M ou ts tand ing…
C apitalalloc ation to high retu rn, q u ickpaybac kprojec ts allowed W & T to Generating Significant generate 32 2 M M ofoperating c as h flow in 2 0 1 8 Free Cash Flow and 2 0 1 8 A d ju s ted E B ITD A 1 of344 M M and m argin…
Nine Greenway Plaza, Suite 300 Houston, TX 77046 25
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Full Year 1st Quarter Production Production 12.9 14.3 MMBOE 2.9 3.2 MMBOE Lease Operating ExpensesProduction Expense 153 - 169 MM 39 - 43 MM Gathering &25 G & T and Production Taxes Transportation - 28 MM 6 - 7 MM G&A G&A…
(1 ) C ru d e O il N atu ralGas Quarter Instrument Volume Average Quarter Instrument Volume Average Bbl/d Floor Ceiling Mcf/d Floor Ceiling 1Q 19 W TIS waps 10 , 0 0 0 60 . 92 60 . 92 1Q 19 N YM E X C ol lars 50 , 0 0 0 2 . 49…
Platform Rig on infield production Subsea tieback to existing facility (EW 910 Area) infrastructure (MC 800 Gladden) Existing structures provide a key advantage when evaluating/developing prospect opportunities Economic…
1 1 Current Reserve Report (SEC Pricing) Overview Reserve Category Total (MMboe) % Liquids Pre-Tax PV-10% 2 P roved D eveloped P rod u c ing (P D P ) 53. 9 58 . 8 % 1 , 0 61 . 8 P roved D eveloped N on-P rod u c ing (P D N P ) 1…
Mahogany Gross Production BOEPD 100,000 W I: 1 0 0 . 0 % , 360 W aterD epth 1 s tc om m erc ially s u c c es s fu ls u bs alt d evelopm entin the Gu lfofM exico (initial prod u c tion in 1 997 ) 12,200 A vg. BO EP D forFeb. O…
M C 2 43 & V K8 2 3 C om bined 100000 M ahogany Gros s P rod u c tion W I: 64% -1 0 0 % , 1 , 1 30 -2 , 40 0 waterd epth P u rc has ed from TotalE & P , US A in 2 0 1 0 10000 115MM acquisition cost Total Net Cash Flow (including…
W e d efine E B ITD A as netinc om e plu s inc om e tax expens e (benefit), netinteres texpens e, and d eprec iation, d epletion, am ortization and ac c retion. A d ju s ted E B ITD A exc lu d es the u nrealized c om m od ity d erivative…
W e referto P V -1 0 as the pres entvalu e ofes tim ated fu tu re netrevenu es ofproved res erves as c alcu lated by ou rind epend entpetroleu m c ons u ltantu s ing a d isc ou ntrate of 1 0 % . This am ou ntinc lu d es projec ted revenu…
Nine Greenway Plaza, Suite 300 Houston, TX 77046 A lP etrie IR C oord inator 7 1 3-2 97 -8 0 2 4 www. wtoffs hore. c om apetrie wtoffs hore. c om 35
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