Pillars for Success Pillar Key Ingredients YTD22 Results Capital efficient asset base YTD FCF 995 MM (17% of Mkt Cap)(1) 1 Generate Free Cash Flow Low operating costs Minimizing reinvestment rates YTD 4.07/Boe LOE + Recurring Cash…
High Quality Asset Base Contiguous acreage position facilitates development optimization Approximate Civitas Leasehold Positions Development Area Geography DJ Basin Net Acres(1) Laramie Kimball Western 160,000 Suburban / Rural…
High Quality Asset Base High-return wells across acreage position B-TAX Single Well IRRs at 70 WTI Permitting Pipeline as of 10/1/22 100% Southern Western Eastern 90 120 90% 550 80% 70% 340 60% Locations Approved YTD IRR…
Premier Balance Sheet Essential for reliable cash returns to shareholders ( in millions) Capitalization Table as of: 9/30/2022 Key Highlights: Rev olv ing Credit Facility (1.85bn BB; 1.0bn ECA) 0 In October 2022, and as part of the…
Returning Capital to Our Shareholders Dividends will total over 530 million in 2022 Shareholder Return Philosophy 2022E Dividend Yield(1) Quarterly base dividend increased to 0.5000/share to be 13.0% Base Variable paid on 12/30 to…
Committed to Excellence in Social Responsibility More Than 11.2 Million Donated Exploring Community Solar to Social Causes in 2022 Civitas is exploring a partnership to Civitas is focused on Civitas has provided more than develop…
2022 Guidance Production Total Production (MBoed) 166 170 D&C program reflects 3 rigs / 2 frac crews Oil Production (MBbld) 74 76 Expected oil price differential of -3-4/Bbl relative to WTI % Liquids 68 70% CIVI expects to pay 75-125…
Appendix
Q4-2022 Dividend Calculation Quarterly base dividend increased to 0.5000/share Q4 2022 Total Dividend Calculation (MM) (1) Quarterly variable dividend framework (2) Av erage Quarterly Free Cash Flows Ov er Prior 12 Months 289 50%…
Gas Hedge Positions Summary Civitas Gas Hedges (MMBtu/d) 175,000 NGL OPIS Swaps Q4 2022: 4,000 Bbl/d OPIS swaps at 20.22/Bbl 146,995 150,000 125,000 2.60 - 3.68 100,000 75,000 57,824 2.07 - 3.23 48,442 48,007 47,703 50,000…
Midstream Ownership Civitas Midstream Infrastructure Enhances upstream value Eastern Infrastructure focused on operated production and results in lower differentials and transportation expense 315 MMcf/d of gas gathering capacity…
Adjusted EBITDAX Reconciliation Schedule 6: Adjusted EBITDAX (in thousands, unaudited) Adjusted EBITDAX is a supplemental non-GAAP financial measure that is used by management to provide a metric of the Company's ability to internally…
Free Cash Flow Reconciliation Exhibit 99.1 Schedule 9: Free Cash Flow (in thousands, unaudited) Free cash flow is a supplemental non-GAAP financial measure that is calculated as net cash provided by operating activities before changes…
Net Debt Reconciliation Net Debt (in thousands, unaudited) Net Debt is a supplemental non-GAAP financial measure that is used by management and external users of the Company's consolidated financial statements, such as industry analysts,…
Loading...
