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Midland Basin

Top-Tier Execution, Well Performance and Capital Efficiency

2021 Plan Objectives

2021 REVISED PLAN

• ~72 net completions and ~55 net drilled wells planned

•  ~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 $16 – $31/Bbl NYMEX

LEADING EDGE CAPITAL COSTS

• Expected DC&E costs further reduced to less than $560/lateral foot

Operating Details*

*as of February 17, 2021.