2018 and 4Q18 Production and Year-End 2018 Proved Reserves:
298,190 Boepd Average Daily FY 2018 Total Production, up 23% over FY 2017
- 168,177 Bopd Average Daily FY 2018 Oil Production; up 21% over FY 2017
324,001 Boepd Average Daily 4Q18 Production; up 9% over 3Q18
- 186,934 Bopd Average Daily 4Q18 Oil Production; up 14% over 3Q18
1.52 Billion Boe Year-End 2018 Proved Reserves, up 14% over Year-End 2017
2019 Capital Budget and Guidance:
$2.6 Billion Capital Expenditures (~$2.2 Billion Allocated to Drilling & Completion)
- Includes $125 Million for Minerals Royalty Acquisitions, of which $100 Million will be Recouped
Approximately $3 Billion of Cash Flow from Operations and an Estimated $500 to $600 Million of Free Cash Flow (non-GAAP) at $55 per Barrel WTI and $3.00 per Mcf Henry Hub
Budget Projected to be Cash Neutral in the Mid-$40's per Barrel WTI
13% to 19% Year-over-Year Oil Production Growth to 190,000 to 200,000 Bopd
1% to 4% Year-over-Year Natural Gas Production Growth to 790,000 to 810,000 Mcfpd
9% to 12% Return on Capital Employed (ROCE) at $55 per Barrel WTI
2019 Operating Expenses and Differentials:
$3.75 to $4.25 per Boe Production Expense
8.0% to 8.3% Production Tax
$1.70 to $2.00 per Boe Total G&A[1]
$15.00 to $17.00 per Boe DD&A
($4.50) to ($5.50) per Bo Oil Differential
$0.00 to ($0.50) per Mcf Natural Gas Differential
PR Newswire
OKLAHOMA CITY, Feb. 13, 2019
