Permian Basin Assets

  • Existing horizontal production from five distinct shale zones across our three operating areas within the Midland Basin.
  • Proved reserves of 54.3 million barrels of oil equivalent at year-end 2015 (80% oil and over 50% proved developed).
  • Replaced over 600% of our 2015 production with proved reserves.
  • Reserve life of nearly 16 years based on our 2015 total annual production and the total proved reserves at the end of 2015.

Midland County Operating Area

  • Midland, Ector, Martin and Andrews Counties
  • Horizontal development commenced in 2013
  • Existing horizontal production from three shale zones, with plans to add a fourth shale zone in 2016

Howard County Operating Area

  • Howard, Martin and Dawson Counties
  • Comprised of the Big Star acquisition announced in April 2016
  • Existing horizontal production from two shale zones

Upton / Reagan County Operating Area

  • Horizontal development commenced in 2012
  • Existing horizontal production from four shale zones