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December 2019 Operations Update – Sable Permian Resources, LLC

Sable Permian Resources, LLC · Dec 20, 2019 · 12 slides

Investor presentation from the Shale Experts oil & gas presentation and slide database. Every page is imaged and its text indexed for search across operators, plays, basins and time.

Slides

  1. December 2019 Operations Update – Sable Permian Resources, LLC – slide 1
    Sable Permian Resources Finance, LLC Operations Update December 2019
  2. December 2019 Operations Update – Sable Permian Resources, LLC – slide 2
    Preliminary Matters The financial and operating information contained herein is presented as of the date hereof and is not intended to be an exhaustive presentation on Sable Permian Resources, LLC and its affiliates (collectively, the…
  3. December 2019 Operations Update – Sable Permian Resources, LLC – slide 3
    Operations Overview Sable Permian Resources Finance, LLC (SPR Finance) recently acquired American Energy Permian Basin, LLC Robust production growth Currently producing 65 Mboe/d with peak 3Q19 production of 71 Mboe/d Increased…
  4. December 2019 Operations Update – Sable Permian Resources, LLC – slide 4
    Sable Record Production Growth Increased production by 5x from 14,000 boe/d in 1Q18 to over 70,000 boe/d in 3Q19 70,000 Peak Production 71 mboepd 65,000 60,000 55,000 50,000 boe/d 45,000 40,000 Third-Party Plant…
  5. December 2019 Operations Update – Sable Permian Resources, LLC – slide 5
    Sable Wells Among Top Performers in Midland Basin Midland Basin Well Map Midland Basin All-Time Top Performing Wells Lateral IP24 % Well Name Operator Bench Length Oil Oil 1 Epley E7N 114H Pioneer 10,130 3,938 91% Wolfcamp B 2…
  6. December 2019 Operations Update – Sable Permian Resources, LLC – slide 6
    Outperformance in Southern Midland Basin Southern Midland Basin Well Map Southern Midland Basin All-Time Top Performing Wells Lateral IP24 % Well Name Operator Bench Length Oil Oil 1 Section 235 03HK Sable 10,130 3,251 87% Wolfcamp…
  7. December 2019 Operations Update – Sable Permian Resources, LLC – slide 7
    Realized Drilling & Completion Efficiencies Average AverageDrilled DrilledFeet Feetper PerDay Day(1) Average Average Estimated Estimated Drilling Drilling Cost Cost per per Foot Foot (1) 1,600 1,522 250 per Total Depth…
  8. December 2019 Operations Update – Sable Permian Resources, LLC – slide 8
    Realized and Projected Sand Cost Reductions 150 Uncontracted Market Rate - 130/ton delivered 130 Projected savings of 21.6 MM 110 Old Sand Contract - 100/ton delivered Projected savings of 118.4 MM 90 /ton Current…
  9. December 2019 Operations Update – Sable Permian Resources, LLC – slide 9
    Cost Reductions Since 2017 Recapitalization Lease Operating Lease Expense (1) Operating Expense G&A G&A (1) / boe / boe 8.05 7.00 6.15 6.13 6.03 5.06 5.01 3.91 3.57 3.46 1H18 2H18 2019E 2020E Public Comps…
  10. December 2019 Operations Update – Sable Permian Resources, LLC – slide 10
    Operations Continue to Trend in Positive Direction Key Operational Highlights Drilled 95% in zone, decreased drilling cost per foot by 33% and increased drilled feet per day by 70% when compared to wells drilled by predecessor…
  11. December 2019 Operations Update – Sable Permian Resources, LLC – slide 11
    Premier Southern Midland Basin Oil Producer Pure-play Permian Basin oil company AcqCo Produced an average of 65.1 Mboe/d in November 2019 5 Mboe/d reduction from production deliverability(1) Production peak of 71 MBoe/d on…
  12. December 2019 Operations Update – Sable Permian Resources, LLC – slide 12
    Operations Update December 2019 Strictly Private & Confidential

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