Company Overview Independent E&P Company Focused on North American resource plays Mix of oil and gas assets Liquids-focused capital program Growth through exploration and acquisitions Headquartered in The Woodlands, TX Domestic…
Domestic Asset Outlook Production Forecast 60 2013e Capital Allocation Natural Gas 50 NGLs 14% Oil 26% 19% 40 MMBOE (net) 16% 25% 30 1.4 - 1.5B 20 2014-15e Annual Capital Allocation 10 12% 0 13% 31% 2012* 2013e…
Deep Domestic Liquids Inventory Proved Incremental Total Gross Play Reserves, MMBOE Net Unrisked Net Potential (YE 2012) Resource, MMBOE Acres Locations Uinta Central Basin* 23 763 67,400 3,000 Cana Woodford 24 407 125,000…
Significant Woodford Experience in Arkoma Strong Users of Common Risk Segment Mapping 2009 Refocused on Liquids-Rich, Repeatable Plays
Woodford Fairway Significant Potential along the Woodford Fairway Rich stratigraphic column with numerous oil, wet gas and gas pays Stacked unconventional resource fairways Traditional vertical potential Multiple petroleum systems…
Consistent quarter-over-quarter Days vs. Depth improvement First NFX well drilled in South Cana 88 Days Spud to TD 4,380 Lateral Length 8 wells drilled 6,000 Length of Lateral 57 Days Avg Spud to TD 8,605 Avg Lateral Length…
Initial Design 5 clusters/stage - 100 ft spacing between clusters Slickwater and linear gel 40/70 resin coated sand (RCS) 4,000 gal HF acid/stage 2nd Generation 5 clusters/stage - 80 ft spacing Slickwater and linear gel 1st…
Applying lessons learned to reduce time from assessment to development Spacing Pilots Underway NFX Faith MRO Spies U. WDF U. WDF L. WDF L. WDF Upper and lower tests Lower only test 130 acre spacing 80 acre spacing First…
South Wet Gas South Oil North Oil Depth (ft) 14,000 16,000 12,000 14,000 8,000 12,000 Total Gross Development Well Cost (MM) 9 - 11 11 - 13 9 - 10 Oil 6% 46% 51% EUR Split NGL 44% 29% 25% Gas 50% 26% 24% 1600 Development Type…
Key Takeaways Klade 1H-3X 925 BOEPD (93% Oil) 125,000 net acres 14,400 BOEPD net production North Oil (65% liquids) Development Active development and assessment with 6-7 rigs Exploration/Assessment South Cana Results YTD 20…