Delivering on Our Strategy in 2022 Pillar Key Ingredients Results Capital efficient asset base 2022 FCF 1.2 B (24% of Mkt Cap)(1) 1 Generate Free Cash Flow Low operating costs Minimizing reinvestment rates 2022 4.21/Boe LOE +…
2023 Plan Reinforces Strategic Pillars Maximizing capital efficiencies and through-cycle returns Maximizing Capital 850 MM total capital expenditure program in 2023 (15% decrease YoY)…
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 130,000 Suburban / Rural…
High Quality Asset Base High-return wells across acreage position B-TAX Single Well IRRs at 70 WTI / 3.50 HH 100% Southern Western Eastern 90% 80% 70% 60% IRR (%) 50% 40% 30% 20% 10% 0% 0 100 200 300 400 500 600…
Operations: A Culture of Performance Civitas rig among the fastest in America Significantly Improving Drilling Times & Doing More with Less On average, Civitas rigs drilled 2-mile lateral wells in 4.6 days in 2022 (1) 16% improvement…
Operations: A Culture of Performance No degradation in 2022 well results & none expected in 2023 Cumulative Production (Mboe) Cumulative Production (Mbo) 300 200 250 150 200 2021 Vintage 150 2021 Vintage 100 100 2020 and…
DJ Basin Permitting Demonstrating leadership under new regulatory process CIVI Permitting Overview Most OGDPs Approved in 2022 Among DJ Basin Operators (1) 85% of 2023 plan is permitted 9 4Q22: Approval of first Comprehensive Area…
Premier Balance Sheet Essential for reliable cash returns to shareholders ( in millions) Capitalization Table as of: 12/31/2022 Key Highlights: Rev olv ing Credit Facility (1.85bn BB; 1.0bn ECA) 0 Financial policy and goals include:…
Returning Capital to Our Shareholders Dividends totaled over 530 million in 2022 Shareholder Return Highlights 2022E Dividend Yield(1) 15.8% In 2022, Civitas paid out over 530 million in base and Base Variable 13.7% variable dividends…
2023 Guidance Production Total Production (MBoe/d) 160 170 D&C program reflects 2 rigs / 2 frac crews Oil Production (MBbl/d) 72 77 Expected oil price differential of -4.00-5.00/Bbl relative to WTI % Liquids 68 70% CIVI expects to pay…
50% Reduction in GHG Emissions by 2027 40% Reduction 50% Reduction 82% reduction in pneumatic venting 30% reduction in engine emissions 50% absolute emissions reduction, 2021 to 2027 13
Committed to Excellence in Social Responsibility More Than 11.2 Million Donated Visualizing ESG Performance to Social Causes in 2022 Civitas invested in a bespoke software Civitas is focused on Civitas has provided more than…
Appendix
Q1-2023 Dividend Calculation Quarterly base dividend increased to 0.50/share Q1 2023 Total Dividend Calculation (MM) (1) Quarterly variable dividend framework (2) Av erage Quarterly Free Cash Flows Ov er Prior 12 Months 305 50%…
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