Long-Term Strategic Goals Provide Foundation to Achieve Sustainable Shareholder Value Creation Maintain Financial Transition to Free Cash Flow (FCF)1 generation is complete Discipline Target absolute debt and leverage reduction…
Increasing Free Cash Flow as Asset Matures Consistent Capital Investment Flattens the Base Decline Moderating Base Moderating Base Decline Decline11Leads Leads to 2020E Free Cash Flow Yield2 vs Peers3 Lower Maintenance Capex 70%…
2020 Guidance Capital program assumes 50 WTI crude oil and 2.00 NYMEX natural gas Outlook reflects a 1.5 rigs and 1.5 frac fleets Preliminary Outlook Details Production 2020E Free Cash Flow1 Guidance Net Sales (MBoe/d) 90 95 Free…
Extraction Corporate Highlights High-Quality Rock and Strong Operating Capability Highly economic wells with low breakeven prices High Quality Top quality rock with minimal legacy vertical penetrations Inventory In Place 10+ years of…
Access to Multiple Gas Processors Provides Important Diversity XOG DJ Basin Acreage Rocky Mountain Midstream (RMM) CO Laramie Kimball East Greeley gathering line is operational No longer constrained by midstream allocations Western…
Extraction Acreage: Minimal Vertical Penetration Top-Tier Rock Under Cities of Greeley and Broomfield MBo GreeleyArea Oil Production(1) Vertical well 160 140 Cumulative Oil (normalized to 2 mi) 120 100 80 60 Peer1…
Hawkeye Area High Return, High Working Interest Drilling Locations Hawkeye Area Well Results 69,000 net acres 140,000 S Hawkeye Nio (2 wells) Multiple operator agreements in place, reducing N Hawkeye 2018 Avg (6 wells) N Hawkeye…
Operations Improvements Reducing Industry-Leading Cycle Times Core DJ Basin Two Mile Cycle Times Niobrara 30 Lateral Length D&C Cost F&D Cost EUR Flowback (ft) ( million) (/Boe)1 (MBoe) Clean-out 1.5 mile 6,800 4.2 8.43 620 25…
Broomfield Development Program The Gold Standard in the DJ Basin Ultra-Low Emission Facilities 99.9% of emissions captured No Tanks = No Emissions + More Revenue No permanent oil storage All line-powered electrical Production…
Broomfield Development Program Setting a New Standard in Operational & Environmental Excellence Drilling and Completion: Offset to prolific Coyote Trails wells Outstanding rock qualities with minimal vertical penetrations First pad…
Significant Emission Reduction Improvements Consistently Exceeding the Standard Setting the Standard for Clean Air Elimination of permanent oil tanks, liquids transported via pipeline1 Extraction Air Quality Utility power for gas…
The Extraction Way Safe, Responsible and Reliable GOLD PL AT I N U M AWARD 2,000,000 LEADER FA C I L I T Y WINNER Hours without an GOLD Leader Awarded to top 10% 2018 Rocky employee lost time Award from of companies with a…
Well-Positioned in Colorado After Passage of SB-181 Expect No Impact to Core Drilling Inventory Extraction already operates within the spirit of SB-181 in several aspects: Obtaining local Statutory pooling only Best-in-Class Best…
Operating with Extensive Local Community Support Proposition 112 No Vote % by County Approved Core % of Core County & Extraction Core Acreage Permits1 Acreage Adams 6 32% Arapahoe 8 22% Broomfield 45 3% Weld Larimer 6 6% Larimer…
Management Aligned with Shareholders Through Ownership & Compensation Metrics Significant Management Management and Director ownership 9%1 Ownership Financial Goals (45%) 2019 Management Return on Invested Capital & Free Cash Flow…
APPENDIX
Capital Structure and Market Summary Capitalization and Liquidity1 (MM) XOG Cash 22 Total Debt 1,570 Preferred Equity 190 Liquidity 452 Elevation Midstream Cash 11 Preferred Equity 264 Debt, Preferred Maturity Profile…
Cash Flow Protection Through Hedges Strong hedge portfolio protects cash flow Maintain a multi-year rolling hedge program 2020 positions: 3,200 MBbls of oil hedged with swaps that have an average price of 60/Bbl 9,725 MBbls of oil…
High Caliber Management Team Name Position Industry Experience Years in Industry Tom Tyree Executive Chairman 30+ President & CEO, Director & Co- Matt Owens 11+ Founder Vice President, Chief Accounting Tom Brock 21+ Officer…
Board of Directors Name Positio Position Background n Mr. Tyree serves as a director of Antero Resources and as non-executive Chairman of the Board of Tom Tyree Executive Chairman Northwoods Energy. He previously served as CFO and…
Significant Components of Elevation Midstream Extraction Oil & Gas, Inc. Condensed Consolidated Balance Sheets (In thousands) December 31, 2019 December 31, 2018 Condensed Balance Sheets (1) Cash and cash equivalents 32,382…
Reconciliation of Non-GAAP Measures The following table presents a reconciliation of Discretionary Cash Flow and Free Cash Flow to the GAAP financial measure of Net cash provided by operating activities for each of the periods…
Defined Terms and Commodity Price Deck Term Definition Debt-Adjusted Share Count Sum of the annual weighted average shares outstanding plus the incremental debt shares by dividing average total debt by the 2019 average share price of…
Corporate Contact Information Corporate Headquarters Auditor 370 17th Street, Suite 5300 PricewaterhouseCoopers LLP Denver, Colorado 80202 Denver, Colorado Investor Relations Independent Petroleum Engineer Louis Baltimore Ryder Scott…
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