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South Texas

FOCUSED ON EXECUTION AND RETURNS ENHANCEMENT

2020 Plan Objectives

2020 PLAN DETAILS

• ~16 net wells expected to be drilled

• ~9 net completions planned, all targeting the Austin Chalk, and weighted towards the second half of 2020

• ~11,600′ average lateral feet per well

• $7.6MM average well cost

• ~27% Boe PDP decline (YE19 – YE20)

Austin Chalk Success

• One Austin Chalk well completed during the fourth quarter 2019 reached an average 30-day peak rate of ~2,634 Boe/d (<75% liquids, 3-stream)

Operating Details*

*as of February 19, 2020