Annual General Meeting 29 May 2019 J. Russell Porter President, Chief Executive Officer & Chairman of the Board 1
Company Profile Eagle Ford Trend Producing Counties in Texas Oil and gas development and production company based in Houston, TX Currently developing 8,824 net contiguous acres in the liquids-rich Eagle Ford shale formation in…
Freedom Management Team Experienced team with capacity to work at greater scale Incentivized to align shareholders and management outcomes J. Russell Porter President, CEO & Chairman of the Board 25+ years executive-level experience…
Realignment of the Board of Directors Added significant E&P experience and financial expertise in both U.S. and Australia With the retirement of Joseph Camuglia, Nigel Smith and Mike Yeager, FDM has a five member Board. Lee Clarke…
Freedom Re-Positioning For Growth Near-Term Strategic Actions Use operating capabilities to realize maximum value from existing assets Control our costs Capture next asset through low-cost entry strategy Longer-Term Vision for…
Opportunities and Objectives Improve well productivity utilizing optimal completions designs to address parent/child dynamics Further evaluate results of wells drilled to date and results of offset operators to better design future…
Expanding Future Opportunities Objective to acquire and develop low-risk acreage in highly economical U.S. resource plays Seeking properties with proven resources, ample well control and log data from offset activity High estimated…
Strategic Focus on Future Growth Maintain financial Pursue impactful flexibility and access and actionable M&A to capital opportunities Allocate capital to Optimize existing highest return asset opportunities Grow value…
Operations Update FDM has 15 wells producing in Dimmit Co., TX from Lower Eagle Ford and 3 awaiting completion The average well performance from Wilson wells (Phase I) and JC Davis/Hovencamp wells (Phase II) are tracking above the…
Lower Costs & Improving Results Reduced drilling time performance down to 10 days average in Phase III vs Phase I Faster completion times and lower costs with each drilling phase Lowered estimated drilling and completion costs from…
Production Growing at Higher Oil Prices 15 wells currently on production 3 additional wells drilled and projected to be completed by 3Q 2019 Average daily net production in 1Q 2019 was 2,240 BOE/D, up 16% from Q4 2018 57% was…
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Changes in Fracturing Technology Advancing Drilling and Completion Technology Increases Production Initial Completions 6,800 LL 27 Stages 6 Clusters per Stage 1,625/ft proppant Current Design 7,750 LL 32 Stages 12 Clusters per…
Current Infrastructure in Place FDM acreage close to existing oil and gas transportation lines Negotiated low transportation costs via pipelines and trucks US3-4/bbl and US2- 3/bbl, respectively No volume commitments No ship…
Eagle Ford Favorable Price Margins WTI Houston GC is a light crude price tied to Brent / Imports WTI Cushing* 62 - 63/bbl Direct access to Gulf Coast LLS market WTI Houston is 3 to 8/bbl premium to WTI Permian is -1 to -3/bbl…
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