South Texas
FOCUSED ON EXECUTION AND RETURNS ENHANCEMENT
2021 Operating Plan
2021 Plan Details
• 3Q21: 11 net wells completed and 10 net wells drilled
• YTD 3Q21: 19 net wells completed and 26 net wells drilled; full year expectation of 28 wells completed and 32 net wells drilled
• ~12,000’ expected average lateral feet per well
• ~20% Boe PDP decline expected (YE20 – YE21)
Marketing Update
• Transportation costs expected to decrease ~$0.25/Mcf starting July 2021 and decrease an additional ~$0.35/Mcf in mid 2023
Austin Chalk Success
• 2020 Austin Chalk wells have an expected breakeven flat oil price range of $12 – $28/Bbl NYMEX at go forward development capital
• Delineation program of 28 wells producing as of the end of the 3Q has indicated Austin Chalk inventory over a broad area
Operating Details*
*as of November 1, 2021
