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South Texas

FOCUSED ON EXECUTION AND RETURNS ENHANCEMENT

2022 Operating Plan

2022 Plan Details

•  ~43 net wells completed and ~42 net wells drilled

• ~11,000′ expected average lateral feet per well

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

Marketing Update

• Transportation costs expected to decrease an additional ~$0.35/Mcf in mid 2023

Austin Chalk Success

• New condensate export facility on-line in North Briscoe to handle increased liquids production

• Delineation & development program of 54 wells producing, that have reached peak IP30, as of September 30, 2022, has indicated Austin Chalk inventory over a broad area

Operating Details*

*as of September 30, 2022