Company Overview Exclusively Rural and Oily Proved Reserves 12/31/18 104.6 MMBoe Acreage Position in the Asset Profile % Proved Developed 49% DJ Basin % Oil 56% 3Q19 Production 3.4 MMBoe Production % Oil 64% & CapEx 3Q19…
Investment Highlights Exclusively rural and oily acreage in unincorporated Weld County, which is supportive of industry activity High oil weighting, low cost structure and attractive oil differentials deliver peer leading operating…
3Q 2019 Highlights Production sales volume of 3.4 MMBoe with a high oil cut of 64% Outperformance driven by new wells in Hereford and NE Wattenberg Represents a 20% sequential increase over 2Q 2019 and a 24% increase over 3Q 2018…
Advantaged Asset Portfolio Located Outside of Municipalities 155,400 net acres that is largely held by production Total Acreage 155,400 net acres 100% of acreage is located exclusively in rural unincorporated Weld County Fully…
Top Tier Margin Generation DJ Basin Operating Margin and Oil Weighting Peer Leading 24% higher margin than Peer Average Operating Margins 35 70% 30.30/boe 30 Generating greater unhedged Peer Average - 24.51/boe 60% operating…
4Q 2019 Outlook Production sales volume of 3.6-3.7 MMBoe Oil volumes to approximate 2.3 MMBbls (63% of total production volumes) Capital expenditures of 30-40 million LOE of 2.50-3.00 per Boe Cash G&A of 2.50-3.00 per Boe…
Corporate Responsibility HighPoint is a Leader in Corporate Responsibility 2018 Corporate Responsibility Report www.hpres.com Environmental Our natural resources are extracted in a manner that minimizes environmental impacts and…
Committed to Safety and Environmental Stewardship Standing Committee at the Board level, sets tone at the 5-yr average employee injury rate 75% below industry top average Use of crude oil and produced water gathering systems HPR…
Operational Overview NYSE: HPR
Hereford Field Overview Largely undeveloped and exclusively rural acreage position provides inventory of highly economic drilling locations Early field delineation with 62 producing SRLs and 80% 10 producing XRLs across acreage…
Hereford Field Focus Area 1 Section 11-63-16 (11 XRL Wells) East: placed initial 7 wells on flowback in June (16-well Laramie spacing) Gen 2 completion of 30 barrels of fluid per foot and increased well density Demonstrating 120%…
Enhanced Completions Driving Resource Recovery Uplift Average Per Well Daily Oil Rate 500 400 300 +55% compared Oil (Bbl/d) to previous wells +120% compared to previous wells 200 100 Section 16 west wells…
Strong Performance from New Hereford Wells 50,000 45,000 40,000 30% greater at 130 days 35,000 Similar well performance 30,000 for initial 2-3 months due Cumulative Oil (Bbls) to controlled flowback 25,000 Strong…
Significant Improvement in Hereford Efficiency DC&E Cost 8.0 Demonstrated execution that pad -35% 6.0 drilling delivers 35% reduction in ( MM) DC&E costs 4.0 Current expected costs of 4.9 mm 2.0 per well for Gen 2…
NE Wattenberg Overview Acreage provides cash flow base to support Hereford development opportunity 60% Oil Avg. 68,600 net acres favorable for XRL development Continuous optimization of completions and flowback has resulted in…
Continuous Improvement Demonstrates Technical and Operational Strength Continued outperformance 140,000 compared to historical completions 120,000 Continuous year-over-year refinement of completions and +20% flowback has…
NE Wattenberg Field Activity 1 Section 4-63-5 (7 XRL Wells) Placed on flowback in July 60% Oil Avg. Completed utilizing high-fluid intensity completions Strong early results, performing consistent with a 1 MMBoe EUR type curve 2…
Efficiencies Driving Well Costs Lower NE Wattenberg XRL DC&E Cost Full DSU development maximizes 45% improvement in well costs with 57% increase in fluid intensity drilling and completion efficiencies 9.0 35 Continue to implement…
Diversified Crude and Gas Marketing Crude Overview Multiple crude outlets provide 600 MBbls/d of take- away capacity SUMMIT Local refineries and rail provide additional outlets Favorable API gravity crude results in premium pricing…
Finance Overview NYSE: HPR
Strong Balance Sheet with No Near Term Maturities Significant liquidity of 319 million to fund future development No near term debt maturities; borrowing base recently reaffirmed at 500 million Minimal oil marketing contracts and no…
Oil Hedging Supports Capital Program and Protects Cash Flow Manage hedge portfolio to support capital program, protect future cash flow and reduce commodity price risk Strategy is to hedge 50-70% of production on a forward 12-month…
Investment Summary Exclusively rural DJ Basin pure-play with high- quality, oily acreage largely held by production Demonstrated technical execution with strong continuous year-over-year improvement in well performance from…
Appendix NYSE: HPR
Business As Usual in CO & Weld County SB 181 Overview Recent Steps On April 17th, 2019 Governor Polis signed Senate Bill On August 28, 2019 the COGCC signed an MOU with Weld County 181 into law. The Bill provides a general…
HighPoint has Exclusively Rural and Oily Acreage Operational Control and Efficient Development Combined acreage position is exclusively rural in Exclusively Rural Acreage Away nature with no urban exposure from Populated Areas…
Hereford Field Targets Consistent Across Acreage Consistent geology from Colorado Hereford Field to Wyoming Fairway Field Continuity and consistency of primary targets across acreage position Niobrara B bench thickness range = 100…
Hereford Located in Strong Oil Producing Fairway Hereford is located in a sweet spot defined by Key Geologic Criteria excellent source rock quality, reservoir quality, Hereford Hereford thermal maturity, and fracturing Position…
Core and Petrophysical Analysis Confirms Resource Niobrara Codell Stacked B1 and B2 zone creates the Codell thickness ranges from highest net chalk pay for a single 17-23; thicker than most areas of Greater Wattenberg Niobrara…
Financial Results Summary Three Months Ended Three Months Ended September 30, June 30, 2019 2018 Change 2019 Change Combined production sales volumes (MBoe) 3,399 2,736 24 % 2,841 20 % Net cash provided by operating activities (…
Financial Results Summary (continued) Three Months Ended Three Months Ended September 30, June 30, 2019 2018 Change 2019 Change Average Realized Prices before Hedging: Oil (per Bbl) 52.27 66.96 (22)% 55.46 (6)% Natural gas (per…
Non-GAAP Reconciliation (Unaudited) EBITDAX Reconciliation Three Months Ended Nine Months Ended September 30, September 30, 2019 2018 2019 2018 (in thousands) Net Income (Loss) 11,114 (29,360) (87,025) (101,203) Adjustments…
Non-GAAP Reconciliation (Unaudited) Discretionary Cash Flow Reconciliation Three Months Ended Nine Months Ended September 30, September 30, 2019 2018 2019 2018 (in thousands) Net Cash Provided by (Used in) Operating Activities…
555 17th Street, Suite 3700 Denver, Colorado 80202 303.293.9100 Website: www.hpres.com Investor Relations Contact: Larry C. Busnardo 303.312.8514 lbusnardohpres.com NYSE: HPR 36
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