South Texas
FOCUSED ON EXECUTION AND RETURNS ENHANCEMENT
2021 Plan Objectives
2021 Plan details
• ~21 net completions and ~39 net drilled wells planned
• ~12,000′ expected average lateral feet per well
• ~$520/lateral foot expected DC&E costs
• ~20% Boe PDP decline expected (YE20 – YE21)
Marketing Update
• Transportation costs expected to decrease ~$0.25/Mcf starting mid-year2021 and decrease an additional ~$0.35/Mcf in mid 2023
• Condensate prices expected to improve by ~ $5/Bbl relative to prior contract terms starting 4Q20
Austin Chalk Success
• 2020 Austin Chalk wells have an expected breakeven flat oil price range of $13 – $28/Bbl NYMEX at go forward development
• Delineation program of 9 wells has projected Austin Chalk inventory over a broad area
Operating Details*
*as of February 17, 2021
