South Texas
FOCUSED ON EXECUTION AND RETURNS ENHANCEMENT
2022 Operating Plan
2022 Plan Details
• ~38 net wells completed and ~37 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 ~$0.25/Mcf starting July 2021 and decrease an additional ~$0.35/Mcf in mid 2023
Austin Chalk Success
• 2021 wells: payout averages ~9 months
• Delineation program of 35 wells producing as of the end of 2021 has indicated Austin Chalk inventory over a broad area
Operating Details*
*as of February 24, 2022
