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Midland Basin

Focused on Execution, Well Performance and Capital Efficiency

2023 Operating Plan

2023 Plan Details

• 2023 net wells planned: drill 40 – 45; complete ~50

• ~11,135’ expected average lateral feet per well, including 15 wells at ≥15,000 ft lateral length

• ~33% Boe PDP decline expected (YE22 – YE23)

Best in Class Well Performance

• Continue to optimize completion design and employ simul-frac

• Average of 6 -8 well pad groups enable increased simul-frac/efficiency

• Continue to test 8 producing intervals

Operating Details*

*as of March 31, 2023