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