STRONG EXECUTION ADVANCES OUR GOALS 2Q21 BY THE NUMBERS RECENT HIGHLIGHTS Robust Activity Driving A Strong 2H21 Outlook Metric 2Q21 Result Completed and placed on production 47 gross wells during 2Q21 Total production (MBoe/d) 89.0…
TRACKING TOWARDS OUR 2021 TARGETS1 1H21 RIGHT ON TARGET ACROSS THE BOARD SOLID YTD PERFORMANCE SETS UP FOR STRONG 2H21 54% of operational capital spent through the first two quarters Operational Capital (MM) Completions in 1H21 Eagle…
MANAGING CASH COSTS FOR IMPROVED MARGINS ALL-IN CASH COSTS1 VS REALIZATIONS2 2Q21 Results Permian Eagle Ford 50 Daily production (MBoe/d) 61.9 27.0 % Oil 57% 76% 40 Cash G&A % NGL Prod &22% Ad Val 12% Realized price3 (/Boe)…
CONTINUED ESG IMPROVEMENT IN 2020 CONTINUED ESG IMPROVEMENT IN 2020 Environment Initiated monthly reliability reviews with third-party engine Metric 2020 Result % Improvement providers to improve compressor runtimes to reduce flaring…
DRILLING EFFICIENCY CONTINUES TO IMPRESS HIGHLY REPEATABLE RESULTS IN THE EAGLE FORD SUSTAINED PROGRESS ACROSS THE DELAWARE 2,400 900 Drilling Feet per Day Drilling Feet per Day 1,600 600 800 300 0 0 2018 2019 2020…
TREMENDOUS QUARTER FOR COMPLETIONS QUARTERLY HIGHLIGHTS DELAWARE: MASSIVE EFFICIENCY GAINS Brought 47 new wells on production during the quarter 1,000 2,000 Wrapped up the 29-well Irvin West project in the Eagle 800 1,600 Ford, our…
SUCCESSFUL EAGLE FORD IRVIN WEST PROJECT IRVIN LOCATION IRVIN OIL RATE 700 600 500 400 Bbl/d 300 200 Pad Average Project Average 100 Average Type Curve IRVIN 0 0 15 30 45 60 75 90 105 Days Online PROJECT HIGHLIGHTS…
SUCCESSFUL E-FRAC TEST CHAPARRAL PAD CHAPARRAL LOCATION DAILY OIL RATE 1000 Bbl/d 100 0 30 60 90 120 150 180 Days Online PROJECT HIGHLIGHTS CUMULATIVE OIL Three-well pad targeting Lower Spraberry, WC A, and 140 WC B in…
FINANCIAL POSITION HIGHLIGHTS CAPITALIZATION TABLE (as of 6/30/21) Path to further debt reduction Million 2Q21 Adjusted FCF1 positive in 2Q21 despite largest quarterly capital spend Monetization opportunities improving with increasing…
MEANINGFUL PROGRESS TOWARDS DEBT REDUCTION Capital program 170 million in asset Upsized exchange offer 40 million incremental reduced by monetization and 300 reduces senior notes monetization of non- nearly 50% million issuance of 2L…
CASH FLOW PROTECTION WITH UPSIDE PARTICIPATION1 2H21 Oil Hedges2,3 2021 PROTECTED WITH 2022 UPSIDE POTENTIAL 2H21 oil production 67% hedged2 Unhedged Hedge optimization in late 2020/ early 2021 has 0% 20% 40% 60% 80% 100% increased…
GUIDING PRINCIPLES FOR A SUSTAINABLE BUSINESS < 5% Continued Year-Over-Year ESG Production Improvement Growth Returning 65% - 75% Value to Reinvestment Shareholders Rate Commitment Commitment to Sustainable to…
GAS AND NGL HEDGES1,2 3Q21 4Q21 2H21 1Q22 2Q22 3Q22 4Q22 FY 2022 NYMEX HENRY HUB (MMBtu, /MMBtu) Sw aps Total Volumes 3,864,000 3,437,000 7,301,000 900,000 2,730,000 2,760,000 930,000 7,320,000 Total Daily Volumes 42,000 37,359 39,679…
NON-GAAP ADJUSTED EBITDA1 (000s) 2Q 21 Net loss (11,695) Loss on derivative contracts 190,463 Loss on commodity derivative settlements, net (100,128) Non-cash stock-based compensation expense 5,279 Other expense 5,584 Income tax…
NON-GAAP ADJUSTED FREE CASH FLOW1 (000s) 2Q 20 3Q 20 4Q 20 1Q 21 2Q 21 Net cash provided by operating activities 97,801 135,701 134,578 137,665 175,603 Changes in working capital and other 40,078 14,473 12,011 30,913 13,520 Change in…
NON-GAAP ADJUSTED G&A CASH COMPONENT AND FULL CASH G&A COSTS1 (000s) FY 20 1Q 21 2Q 21 Total G&A 37,187 16,799 11,065 Change in the fair value of liability share-based awards (non-cash) 4,110 (5,943) (3,555) Adjusted G&A total 41,297…
NON-GAAP NET DEBT RECONCILIATION1 As of June 30, 2021 (in millions) Long-term debt 2,903 Less: Cash and cash equivalents 4 Net Debt 2,899 1. See Important Disclosures slide for additional information related to Supplemental…
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