3Q22 Financial and Operational Highlights 1 Beat the upper end of total sales guidance range 42.6 Mboe/d and 30.7 Mbbl/d of oil 2 Generated 209 MM Adj. EBITDAX(1) and 58 MM PF Adj. Free Cash Flow (FCF)(1) 3 Reduced leverage(2)…
Rangers Differentiating Factors Industry Leading Margins +100% Estimated Returns on Recent Wells(6) and 20 years of Inventory(7) Growing Production While Generating Enough FCF(1) to Buy Back Shares, Pay Dividends and Reduce…
Industry-Leading Margins 2Q22 Adj. EBITDAX Margin(1)(10) Illustrative Unhedged Margin Example(9) ROCC vs. U.S. Public E&P Peers(11) by Basin LOE ROCC GPT 75 Production Taxes /boe Large Diversified Adj. G&A Margin Permian 51 52…
Deep, High-Quality and Delineated Inventory Deep, High-Quality Eagle Ford Inventory 20 Years of high-quality inventory(7) 20-yr inventory, with upside(7) 10 yrs: est. well-level IRR 100% at 80 WTI(7)(12) 14 yrs: est. breakeven…
Consistently Growing per Share Value Capital Discipline Results in Increasing per Share Metrics While Reducing Leverage(2) Mboe Sold per Debt-Adjusted Share(14) Operating Cash Flow per Share(15) () Leverage Ratio(2) Avg. WTI Prices:…
Returning Value to Shareholders We view our shares as undervalued 80 MM(3)(4) and our buyback represents one of the best investments we can make today. Total Shareholder Returns CEO Darrin Henke Since May 2022 Repurchased 5%(3) total…
Proven Consolidator 8 Bolt-Ons YTD 2022 Disciplined Approach Resulting in Highly Accretive Program vs Single Purchase with Premiums 20,000 net acres, contiguous with ROCCs existing acreage; increases working interest Caldwell Fayette…
Illustrative ROCC Asset Value Potential(1) SEC Pricing: ( MM) (18) 80 / 4.00(18) 91.71 / 6.13 Proved Developed (PD) PV-10(18) 3,027 2,460 Proved Undeveloped (PUD) PV-10(18) 2,585 1,721 2.3 B Total Proved PV-10 5,611 4,182…
Substantial Infrastructure, Access to Premium Markets ROCCs Advantaged Gulf Coast Position Achieved a 1.60/bbl Realization Premium to WTI Houston and Midland Forward Oil Basis(3) Acreage Caldwell Harris 610 10 35 Fayette ROCC WTI…
Strong Balance Sheet and Risk Management ROCC Capitalization Oil Hedge Summary(3) MM, except share price 32,900 bbl/d 4Q22 Oil Sales Guidance Midpoint(21)(22) Total Common Stock Outstanding as of 11/01/22 41.6 Share Price (11/01/2022)…
Appendix
Who We Are Capital Discipline & Continuous Improvement Yield BestinClass Returns 160,000 net acres 99% operated 249 MMboe (84% liquids)(8) Clear Business Focused on value-creation, with optionality Disciplined, organic…
ESG Excellence Sustainability Report Est. 4Q22: Inaugural Sustainability Report Minimizing Flaring Reduce flaring by connecting wells to pipelines prior to production & Emissions Transport majority of oil via pipeline, reducing vehicle…
Strong, Predictable Reserve Base Central Region Proved Reserves (9/30/22)(8)(18) ROCC Wells Drilled PV-10(18) PV-10(18) Fayette Oil Gas NGL Total % Liquids 2019 SEC 80/4 2020 (MMbbl) (Bcf) (MMbbl) (MMboe) (MM) (MM) 2021 2022 PD 68…
Guidance(21) Sales Current FY 2022 4Q 2022 Total Sales (boe/d) 41,100 - 41,500 45,300 - 46,900 Oil Sales (bbl/d) 29,400 - 29,700 32,300 - 33,500 Capital Expenditures (MM) Current FY 2022 4Q 2022 Total Drilling & Completion 507 -…
Industry-Leading Margins Through the Cycle Adj. EBITDAX Margin(1)(10) since 2020, ROCC vs. U.S. Public E&P Peers(11) 1 Adj. EBITDAX Margin(1)(10) since 2020 among U.S. Public E&P Peers(11) See definitions and footnotes in the…
Reconciliation Reconciliation of GAAP Net income (loss) to Non-GAAP Adjusted net income Adjusted net income is a non-GAAP financial measure that represents net income (loss) adjusted to include net realized settlements of derivatives…
Reconciliation Reconciliation of GAAP Net income (loss) to Non-GAAP Adjusted EBITDAX - Actual Adjusted EBITDAX represents net income (loss) before (gain) loss on extinguishment of debt, interest expense, income taxes, impairments of oil…
Reconciliation Reconciliation of GAAP Net income (loss) to Non-GAAP Pro Forma Adjusted EBITDAX Adjusted EBITDAX represents net income (loss) before (gain) loss on extinguishment of debt, interest expense, income taxes, impairments of oil…
Reconciliation Reconciliation of GAAP Net income (loss) to Non-GAAP Adjusted EBITDAX - Pro Forma Adjusted EBITDAX represents net income (loss) before (gain) loss on extinguishment of debt, interest expense, income taxes, impairments of…
Reconciliation Reconciliation of GAAP Operating expenses to Non-GAAP Adjusted direct operating expenses and Adjusted direct operating expenses per boe Adjusted direct operating expenses and Adjusted direct operating expenses per boe are…
Reconciliation Definition and Explanation of Adjusted Free Cash Flow Adjusted Free Cash Flow is a non-GAAP financial measure that management believes illustrates our ability to generate cash flows from our business that are available…
Reconciliation Net Debt Net debt is a non-GAAP financial measure that is defined as total principal amount of long-term debt, excluding unamortized discount and debt issuance costs, less cash and cash equivalents. Long-term debt excludes…
Reconciliation Non-GAAP PV-10 value is the estimated future net cash flows from estimated proved reserves discounted at an annual rate of 10 percent before giving effect to income taxes. The standardized measure of discounted future net…
Reconciliation Net debt adjusted PV-10 Proved Reserves per Share - SEC Pricing S eptember 30, 2022 (in millions) Standardized measure of future discounted cash flows (total proved reserves) 5,018 Present value of future income taxes…
Reconciliation Net debt adjusted PV-10 Proved Developed Reserves per Share - SEC pricing S eptember 30, 2022 (in millions) Standardized measure of future discounted cash flows (total proved developed reserves) 2,707 Present value of…
Definitions and Footnotes 1) PV-10, Adjusted Free Cash Flow (Adj. FCF), Pro Forma Adjusted Free Cash Flow (PF Adj. FCF), Net debt, Adj. EBITDAX, and Adj. Cash G&A Expense are non-GAAP financial measures that are defined and reconciled in…
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