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Midland Basin

Top-Tier Execution, Well Performance and Capital Efficiency

Plan execution*

Completions Execution

• ~100 net completions planned for 2019

• 27 net completions in 1Q19

• 35 net completions planned for 2Q19

Great New Wells

• Merlin Maximus: 19 wells across three intervals have reached 30-day peak IP rates in excess of 1,400 Boe/d (87% oil) 

• Middle Spraberry well reached its 30-day peak IP rate of approximately 1,000 Boe/d (86% oil)

• New intervals: Dean and Wolfcamp D wells reached 30-day peak IP rates of 1,550 Boe/d (92% oil) and 1,400 Boe/d (80% oil), respectively

Top Tier Capital Efficiency

• Drilling/completing faster, longer laterals, lower sand costs

YE 2018 INVENTORY: 12 – 16 YEARS

Operating Details*

*as of June 2019