South Texas
FOCUSED ON EXECUTION AND RETURNS ENHANCEMENT
2021 Operating Plan
2021 Plan Details
• 2Q21: 5 net wells completed and 11 net wells drilled
• YTD 2Q21: 8 net wells completed and 16 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(1) at go forward development capital
• Delineation program of 17 wells producing as of the end of the 2Q has indicated Austin Chalk inventory over a broad area
Operating Details*
*as of July 29, 2021
