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Midland Basin

Focused on Execution and Return Enhancement

2022 Operating Plan

2022 Plan Details

• ~40 net wells completed and ~55 net wells drilled

• ~12,360’ expected average lateral feet per well

• ~38% Boe PDP decline expected (YE21 – YE22)

Best in Class Well Performance

• New completion design expected to drive higher EUR and NAV per well

• 2022-2023 drilling program expected breakeven flat pricing of $16 – $45/Bbl NYMX

• 2022 completion designs expected to utilize average fluid loading of 60 Bbls/ft and 2,800 lbs/ft sand

Operating Details*

*as of February 24, 2022.