Pat OBryan President & CEO Fidelity Exploration & Production Building A Strong America 1
Building a Strong America Exploration & Production 2014 Results Production 25 MBOEPD 55% Oil, 7% NGLs, 38% Natural Gas Proved reserves 92 MMBOE (48% Oil) at 12/31/14 342% Reserve Replacement Ratio (RRR); 307% Oil RRR 82…
Marketing Fidelity Exploration & Production Company Marketing of the company put on hold due to the volatility of crude oil prices Will look to restart marketing effort once commodity prices have stabilized and recovering 2015…
Production Mix Rebalance 2008 2014 Gas Gas 38% 80% Oil 16% NGL 7% Oil 55% NGL 4% Rebalancing portfolio toward higher returns for oil Building a Strong America 4
Bakken 48,700 net acres in Mountrail and Stark Counties, ND Development areas have 60 Three Forks and 40 Bakken potential locations Fourth quarter 2014 net oil production of 6,000 BOPD 1 to 2 rigs deployed during 2014 No…
Powder River Basin 26,500 net acres in Converse County, WY Stacked pay Frontier, Shannon, Muddy Fourth quarter 2014 net oil production of 1,370 BOEPD 2 to 4 nonoperated rigs deployed during 2014 Plan to complete deferred…
Paradox Basin 140,000 net acres, plus 15,000 net acres under option Fourth quarter 2014 net oil production of 2,100 BOPD 1 to 2 rigs deployed during 2014 Additional frac stimulation recompletions and development…
Gas Properties Significant operated fields (all 100% WI) Baker Field, Fallon County, MT Bowdoin Field, Phillips County, MT Shiloh Field, Rusk County, TX 2014 net production of 57 MMCFPD Low cost/high margin production at Baker and…
2015 Outlook Strategy Cash flow positive business in a 50 oil price and 3 gas price environment while enhancing the value of the company for the future sale Imperatives Reduce overall cost structure Selffunded, economic investments…
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