2Q 2019 Highlights Enhanced liquidity by 100MM Production of 50.8 MBoe/d (26% oil, through term loan facility 29% NGLs, 45% gas), up 4% QoQ Adjusted EBITDAX(1) of 79.3MM, Drilled 17 wells(2) and turned online 22 up 9% QoQ…
Roan Snapshot Company Overview Largest Contiguous Acreage Position in Core of Anadarko Basin 50.8 MBoe/d current net production(1) with 26% being oil Acreage Position 3 rigs running (Net Acres) 22 wells turned online 2Q19 Merge…
2019 Focus, Focus, Focus Liquidity Focus on enhancing current liquidity position - Secured 100MM term loan facility Focus on achieving cash flow neutrality/positive by YE19 Results Focus on optimizing locations and well spacing…
2Q 2019 Results 2Q 2019 results: 2Q 2019 Activity Map: All 22 gross operated wells turned online: Red Bullet / Earl Average per well 30-day IP rate of 1,165 Boe/d (42% (6 wells) Silver Charm oil, 23% NGLs, 35% gas) from a normalized…
Merge Cross Section Multiple zones Required Multiple zones possible where Reservoir is present Reservoir acting as one zone WEST CENTRAL Upper EAST Mayes Upper Mayes Lower Lower Lower Mayes Mayes Mayes Woodford…
West Merge - Mad Play Unit Mad Play unit: Average per well 30-day IP rate of 1,601 Boe/d (44% oil, 20% NGLs, 36% gas) from a normalized 10,000-foot lateral from 4 wells WEST EAST Average per well 90-day IP rate of Mad Play unit…
West Merge Red Bullet / Silver Charm Red Bullet / Silver Charm unit: Red Average per well 30-day IP rate Bullet / of 1,545 Boe/d (41% oil, 26% Silver NGLs, 33% gas) from a Charm normalized 10,000-foot lateral WEST EAST from 4 wells…
Central Merge - Earl Unit Earl unit (3 Mayes wells): Average per well 30-day IP of 1,466 Boe/d (39% oil, 24% NGLs, 37% gas) from a normalized 10,000-foot lateral for the 3 Mayes wells WEST EAST Average per well 90-day IP of…
East Merge - Victory Slide Victory Slide (2 Mayes wells): Average per well 30-day IP rate of 1,170 Boe/d (67% oil, 15% NGLs, 18% gas) from a normalized 10,000- foot lateral for the 2 Mayes wells WEST Average per well 60-day IP…
Southern SCOOP - Zenyatta Zenyatta: Average per well 30-day IP rate of 1,104 Boe/d (32% oil, 32% NGLs, 36% gas) from a Zenyatta normalized 10,000-foot lateral Average per well 90-day IP of 1,004 Boe/d (27% oil, 34% NGLs, 39%…
Anticipated Remaining 2019 Drill Schedule 2019 anticipated drill plans: 2019 Focused Activity Map: Activity focused in core areas of the Merge Barbara Campbell completed drilling & will be WEST CENTRAL EAST turned to first sales in…
10+ Years of Quality Inventory 2018 tested Woodford and Mayes designs, co-completions and independent spacing STACK 2019 program will co-develop of Woodford and Mayes to produce maximum unit efficiency within our large,…
2019 Cost Optimization Strategic focus on reducing completed well costs 200k reduction in drilling costs 2019 improvement in per well CWC ( in MM) : Decreased drill times 9.0 8.5 0.2 Increased equipment efficiency 0.8 800k…
Updated 2019 Guidance Summary May 2019 Updated 2019 2019 Plan Highlights Guidance Guidance Total Capex (MM) 515 - 555 495 - 525 Reducing capital activity to focus Production (MBoe/d) 51.5 55.5 50.5 53.5 on generating free cash flow…
Appendix 17
Merge Spacing Assumptions Merge is divided into 3 regions Gross Thickness (Mayes+Woodford) East Woodford + Mayes < 275 Central Woodford + Mayes = 275 375 WEST West - Woodford + Mayes 375 Spacing assumptions for each region A East…
Updated Production Guidance Walk Ethane recovery vs 2019 Guidance as of: May 14, 2019 rejection August 7, 2019 impact Full-Year Production (MBoe/d) 51.5 55.5 (1.9) 50.5 53.5 Oil Mix 25.5% 27.5% - 25.5% - 27.5% Liquids Mix 51.5%…
Current Hedge Summary As of August 7, 2019: 3Q19 4Q19 Bal 2019 2020 2021 Oil Hedges Volume Hedged Daily (Bbls/d) 14,151 13,051 13,601 9,370 4,740 Average Hedge Price (/Bbl) 60.04 60.74 60.39 60.57 56.08 Natural Gas Hedges Volume…
Non-GAAP Reconciliations Adjusted EBITDAX is a non-GAAP financial measure. We define Adjusted EBITDAX as net income (loss) adjusted for interest expense, income tax (benefit) expense, depreciation, depletion, amortization and accretion,…
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