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South Texas

FOCUSED ON EXECUTION AND RETURNS ENHANCEMENT

Enhancing Inventory Value*

Completions Execution

• 6 net completions in 3Q19; South Texas 2019 program concluded with 19 net completions for the year

• Completed 12 gross wells during the third quarter in the JV-funded area

Austin Chalk Success

• Two Austin Chalk wells completed during the third quarter reached an average 30-day peak rate of ~2,655 Boe/d (>55% liquids, 3-stream)

Value Enhancement Through Higher Return Wells

• 12 JV-funded wells reached an average 30-day peak rate of ~2,530 Boe/d (~50% liquids, 3-stream)

YE 2018 INVENTORY: 12 – 14 YEARS

Operating Details*

*as of October 2019