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Midland Basin

Focused on Execution and Return Enhancement

2021 Operating Plan

2021 Plan Details

• 2Q21: 40 net wells completed and 11 net wells drilled

• YTD 2Q21: 54 net wells completed and 24 net wells drilled

• ~11,300’ expected average lateral feet per well

• ~45% Boe PDP decline expected (YE20 – YE21)

Best in Class Well Performance

• 2021-2022 drilling program expected breakeven flat pricing of $12 – $31/Bbl NYMEX

Leading Edge Capital Costs

• Expected DC&E costs: ~$520/lateral foot

Operating Details*

*as of July 29, 2021.