Midland Basin
Top-Tier Execution, Well Performance and Capital Efficiency
2020 Plan Objectives
2020 REVISED PLAN
• ~70 net completions planned for 2020
• 22 net completions in 3Q20; 50 net completions YTD
BEST IN CLASS WELL PERFORMANCE
• RSEG/Enverus research: SM had the lowest breakeven prices in 2019
TOP – TIER CAPITAL EFFICIENCY
• Drilling and completing wells faster, longer laterals, lower sand costs
LEADING EDGE CAPITAL COSTS
• Expected DC&E costs further reduced to less than $560/lateral foot
Operating Details*
*as of October 29, 2020
