2014 Investment Highlights Drill 376 gross operated wells Average rigs count of 15 - 16 rigs 285 Piceance gross wells, including up to 10 Niobrara wells 62 Williston gross wells, 25% increase versus 2013 29 San Juan Gallup…
2014 Capital Program Focused on Growth Basins 2014 Total Capital Expenditures of 1.47B* 85% of capital expenditures directed to highest-returning basins (Williston, San Juan Gallup Sandstone and Piceance) Total Capital Breakdown…
Capital Deployment Drives Produc]on Growth (Basins receiving drilling capital growing) 1Q 2Q 3Q 4Q Williston/San Juan Gallup ProducIon MMcfe/d 1,210.7 1,226.0 1,271.5 1,300.7 Allocated 51% of total capital Daily Williston/San…
Hedging Overview 2014 As of 2/6/2014 Volumes Price Natural Gas (BBtu/d) (MMBtu) Fixed Price Swaps1, 4 323 4.21 Collars 184 4.04 - 4.66 Crude Oil (bbl/d) (/bbl) Fixed Price Swaps2 13,243 94.82 Natural Gas Liquids (bbl/d)…
Outlook for 2014 2014 Outlook 4.00 Gas / 90.00 Oil 2014 ProducIon Target 455 - 460 Bcfe (MM) Net Income (Loss) (120) - (140) Adjusted EBITDAX 950 - 970 Capital (1,420) - (1,525) PotenIal Proceeds Asset Sale/MLP 300 -…