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May 2025 Investor Presentation – Ascent Resources LLC

Ascent Resources LLC · May 7, 2025 · 21 slides

Investor presentation from the Shale Experts oil & gas presentation and slide database. Every page is imaged and its text indexed for search across operators, plays, basins and time.

Slides

  1. May 2025 Investor Presentation – Ascent Resources LLC – slide 1
    Investor Presentation May 7, 2025 CONFIDENTIAL
  2. May 2025 Investor Presentation – Ascent Resources LLC – slide 2
    Disclaimer This presentation is for informational purposes only and contains general information about the activities of Ascent Resources, LLC and certain of its subsidiaries (collectively, Ascent) that does not purport to be complete.…
  3. May 2025 Investor Presentation – Ascent Resources LLC – slide 3
    Premier Utica Shale Operator NO FEDERAL LEASES DISCIPLINED RETURNS-FOCUSED APPROACH SUSTAINABLE LARGE & INDUSTRY FREE CASH DIVERSE LEADING FLOW ASSET BASE EXECUTION GENERATION 2025E Activity(1) 2025E Capital Program…
  4. May 2025 Investor Presentation – Ascent Resources LLC – slide 4
    Strong First Quarter Results % ADJUSTED TOTAL PERCENT ADJUSTED D&C FREE CASH LEVERAGE PRODUCTION GAS EBITDAX CAPITAL(1) FLOW 2024 2.17 1.5 635 533 1.55x 88% bcfe/d billion million million LTM Q1 2025 2.00 430 177…
  5. May 2025 Investor Presentation – Ascent Resources LLC – slide 5
    Disciplined and Durable Value Creation WORLD CLASS RESOURCE AND EXECUTION Reservoir quality, completion design and execution deliver exceptional well performance amongst the best in the U.S. 376,700 net acres, including 81,000…
  6. May 2025 Investor Presentation – Ascent Resources LLC – slide 6
    Top Tier Well Performance UTICA WELL PRODUCTIVITY PER ACRE TOP 40 UTICA WELLS PER ACRE Normalized Cumulative Production 20:1, mmcfe per acre 12 Month Normalized Well Production 20:1, mmcfe per acre 0 5 10 15 20 40 Ascent Peers…
  7. May 2025 Investor Presentation – Ascent Resources LLC – slide 7
    Basin Leading Operational Efficiency and Cost AVERAGE SPUD TO RIG RELEASE DAYS(1) AVERAGE FRAC STAGES PER DAY LL(2) 13,345 13,383 14,236 15,974 14,566 Lbs/Ft.(3) 1383 1502 1520 1680 2,033 15.5 15.3 14.5 14.2 14.5 14.1 13.5 12.5…
  8. May 2025 Investor Presentation – Ascent Resources LLC – slide 8
    Fastest Payback Across Gas Basins 12 MONTH PAYBACK 3.00 3.50 4.00 4.50 140% 118% 119% 108% 100% 101% 96% 95% 87% 87% 80% 83% 75% 73% 74% 70% 61% 59% 61% 48% Asc NE PA Marcellus OH Utica ex. Ascent Haynesville…
  9. May 2025 Investor Presentation – Ascent Resources LLC – slide 9
    Long-Term, High-Quality Undeveloped Inventory HISTORICAL DEVELOPMENT PROGRAM INVENTORY RUNWAY(2) Spuds Utica TILs Marcellus 82 21yrs 19yrs 71 18yrs 7yrs 6yrs 57 6yrs 75 74 60 53 14yrs 13yrs 12yrs 2022 2023 2024…
  10. May 2025 Investor Presentation – Ascent Resources LLC – slide 10
    Committed to Balance Sheet Strength Strong liquidity position with greater than 1.4bn in total availability No debt maturities until November 2027 Maturity and credit profile provides significant financial flexibility DEBT…
  11. May 2025 Investor Presentation – Ascent Resources LLC – slide 11
    Diversified Marketing and Transportation Portfolio FULLY-PATHED NATURAL GAS TRANSPORTATION COMMITMENTS 2.2 bcf/d of gross firm transportation provides access to multiple physical markets with premium pricing Out-of-basin takeaway…
  12. May 2025 Investor Presentation – Ascent Resources LLC – slide 12
    Natural Gas and Oil Hedge Position Natural Gas bbtu/d, /mmbtu Oil mbbls/d, /bbl 1,153 3.88 8 71.12 2025 Total 2025 Total 410 3.52 x 5.85 Bal 1,633 Bal 11 3 68.33 x 78.33 70 2.79 x 4.04 x 5.42 1,005 3.81 1 70.55 2026 Total…
  13. May 2025 Investor Presentation – Ascent Resources LLC – slide 13
    Leading Pure Play Natural Gas Opportunity One of the Largest World Class Exceptional Track Private Producers of Resource and Cost Record of Execution Natural Gas Structure Constructive Long- Strong Balance Disciplined Risk Term…
  14. May 2025 Investor Presentation – Ascent Resources LLC – slide 14
    Appendix
  15. May 2025 Investor Presentation – Ascent Resources LLC – slide 15
    2025 Guidance 2,050 2,150 mmcfe/d PRODUCTION 84% 86% natural gas Gas (0.20) (0.10) /mcf UNHEDGED Crude (9.00) (8.00) /bbl DIFFERENTIALS NGL 30% 35% of WTI OPERATING OpEx(1) 1.55 1.65/mcfe EXPENSES G&A(2) 0.09 0.11/mcfe…
  16. May 2025 Investor Presentation – Ascent Resources LLC – slide 16
    2024 Proved Reserves Summary Proved Reserves (as of 12/31/2024)(1) Reserve Oil NGL Gas Total Pre-Tax Category (mbbls) (mbbls) (mmcf) (mmcfe) PV-10(2) (mm) PDP 23,949 97,041 5,123,814 5,849,756 1,726,263 PDNP 635 645 133,347…
  17. May 2025 Investor Presentation – Ascent Resources LLC – slide 17
    Responsible & Sustainable Operations ENVIRONMENTAL SOCIAL GOVERNANCE Focused on reducing our environmental Commitment to diverse and inclusive Diverse and experienced 12 member impact and minimizing emissions organization with…
  18. May 2025 Investor Presentation – Ascent Resources LLC – slide 18
    Quarterly Results Q1 2025 Production (bcfe/d) 2.00 % Natural Gas 84% LOE 0.18 GP&T 1.44 Taxes Other than Income 0.06 Total Operating Expenses 1.68 G&A(1) 0.13 Adjusted EBITDAX (mm) 430 CAPEX Incurred (mm)(2) Drilling &…
  19. May 2025 Investor Presentation – Ascent Resources LLC – slide 19
    Adjusted EBITDAX Reconciliation ( in thousands) Three Months Ended March 31, 2025 2024 Net Income (Loss) (GAAP) (362,473) 85,725 Adjustments to reconcile net income (loss) to Adjusted EBITDAX: Exploration expenses 1,640 6,021…
  20. May 2025 Investor Presentation – Ascent Resources LLC – slide 20
    Adjusted Free Cash Flow Reconciliation ( in thousands) Three Months Ended March 31, 2025 2024 Net Cash Provided by Operating Activities (GAAP) 359,111 368,641 Adjustments to reconcile Net Cash Provided by Operating Activities…
  21. May 2025 Investor Presentation – Ascent Resources LLC – slide 21
    Net Debt & Net Debt to LTM EBITDAX Reconciliation ( in thousands) March 31, 2025 2024 Net Debt: Long-Term Debt, Net 2,273,515 2,418,175 Less: cash and cash equivalents 7,336 8,525 Net Debt(1) 2,266,179 2,409,650 Net Debt to…

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