Operator Leaderboard Report

Producer by Basin Comparison -- WTI BREAK-EVEN PRICE & TIER -- Latest Guidance 3Q2018

DrillingInfo’s monthly break even leaderboard leverages the DI ProdCast tool to understand 500+ break evens across the U.S. and
assess relative economic advantages of specific producers. Assumptions are based on a multitude of variables including acreage
grade, productivity and cost data. The monthly leaderboard represents operators by basin and breaks their acreage position into
three different tiers of productivity and cost. Utilize the ProdCast tool located in the DI Gallery to see break even prices by operator,
a map of the different tiers or to enter in your own assumptions around well cost, WTI, ROI, etc.
$ 6.38 $ 100.00+

ANADARKO BASIN - WTI DENVER-JULESBURG WTI (Continued)

PRODUCER 1 2 3 PRODUCER 1 2 3
±0— Gulfport $6.38 $43.43 $71.12 ±0— High Point $51.71 $65.36 $88.75
±0— Continental $12.85 $42.65 $74.67
±0— Devon $22.34 $42.20 $76.42 EAGLE FORD - WTI
±0— Marathon $22.88 $49.15 $84.72 PRODUCER 1 2 3
±0— Cimarex $24.71 $43.71 $85.66 ±0— Silverbow $0.00 $53.90 $100.00
±0— Newfield $26.22 $49.33 $70.14 ±0— SM Energy $0.00 $36.10 $100.00
±0— Chesapeake $32.74 $52.55 $88.27 ±0— Noble $17.64 $52.66 $77.75
±0— Jones $34.23 $53.82 $83.95 ±0— EOG $24.86 $37.48 $59.90
±0— Unit $36.52 $71.51 $100.00 ±0— Marathon $27.86 $39.55 $54.46
±0— BP $38.49 $76.06 $100.00 ±0— Encana $28.73 $44.53 $66.17
±0— Chaparral $38.80 $63.63 $84.43 ±0— Conoco $30.51 $45.98 $68.91
±0— Sandridge $40.22 $58.73 $100.00 ±0— Sanchez $31.02 $54.38 $79.32
±0— EOG $43.04 $65.27 $100.00 +1 Devon $31.47 $44.49 $72.45
±0— Apache $44.04 $71.31 $100.00 –1 Carrizo $31.74 $45.41 $65.28
±0— Midstates $44.32 $63.10 $87.44 ±0— Chesapeake $32.99 $55.70 $75.83
±0— Noble $80.45 $100.00 $100.00 +2 BP $33.85 $54.12 $72.23
±0— Chevron $100.00 $100.00 $100.00 –1 Murphy $34.29 $54.34 $74.41
–2 EP Energy $34.77 $48.93 $72.94
DENVER-JULESBURG WTI ±0— Wildhorse $36.34 $54.09 $80.17
PRODUCER 1 2 3 ±0— Pioneer $38.18 $55.31 $81.11
±0— Anadarko $20.33 $31.05 $43.00
+1 SRC Energy $29.63 $45.85 $69.22 PERMIAN HORIZONTAL - WTI
–1 PDC $29.75 $49.51 $71.97 PRODUCER 1 2 3
±0— EOG $27.16 $44.12 $73.58
±0— Extraction $30.19 $43.95 $56.92
±0— Apache $27.97 $53.16 $84.90
±0— Noble $32.59 $51.78 $74.88
±0— Concho $28.95 $47.81 $91.30
+1 EOG $35.12 $53.41 $71.06
±0— Centennial $29.22 $51.70 $74.19
–1 Conoco $35.32 $57.16 $73.42
±0— Bonanza Creek +2 Diamondback $31.53 $50.32 $70.18
$49.46 $67.74 $84.27
±0— Whiting +3 Anadarko $31.54 $55.51 $76.35
$51.22 $73.27 $92.86

±0— No quarterly change in position +X Increase quarterly position by X places –X Decrease quarterly position by X places

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 Operator Leaderboard Report
Producer by Basin Comparison -- WTI BREAK-EVEN PRICE & TIER -- Latest Guidance 3Q2018

$ 6.38 $ 100.00+
PERMIAN HORIZONTAL - WTI (Continued) POWDER RIVER - WTI
PRODUCER 1 2 3 PRODUCER 1 2 3
–2 WPX Energy $31.56 $51.45 $80.43 ±0— EOG $30.47 $45.64 $65.44
±0— Cimarex $31.63 $48.67 $79.61 ±0— Devon $31.82 $52.66 $85.42
–3 Matador $32.25 $46.32 $69.06 ±0— Chesapeake $33.15 $59.66 $76.56
–1 Pioneer $32.30 $49.07 $73.33 ±0— Encana $46.82 $69.10 $86.89
±0— Parsley $32.78 $51.77 $71.88 ±0— Anadarko $57.09 $70.56 $95.30
+1 SM Energy $33.05 $48.66 $72.01
–1 Jagged Peak $33.43 $51.82 $86.74 WILLISTON BASIN - WTI
+2 Devon $34.10 $60.52 $88.28 PRODUCER 1 2 3
±0— Exxon ±0— WPX Energy $27.36 $40.44 $61.01
$34.16 $56.50 $83.29
±0— Oasis $29.50 $47.17 $66.24
+1 Laredo $35.38 $54.86 $78.34
±0— Marathon $30.25 $50.93 $67.69
–1 Occidental $35.52 $52.88 $100.00
±0— Noble ±0— Newfield $30.48 $51.00 $74.17
$36.09 $56.72 $94.03
±0— Callon ±0— Continental $32.04 $45.13 $68.08
$36.28 $50.91 $76.84
±0— Encana ±0— EOG $32.47 $49.49 $68.40
$36.34 $51.10 $68.89
±0— Chevron ±0— QEP $35.44 $50.66 $70.22
$37.00 $66.91 $86.37
±0— Conoco $35.55 $51.88 $71.42
+1 Shell $38.93 $62.64 $100.00
±0— Whiting $35.78 $53.81 $74.98
–1 QEP $39.49 $61.60 $84.16
±0— BP ±0— Hess $36.11 $54.70 $73.88
$39.94 $59.15 $77.72
±0— Conoco ±0— Enerplus $36.47 $60.17 $100.00
$41.93 $68.94 $99.99
±0— EP Energy ±0— Equinor $36.70 $51.54 $69.25
$44.89 $72.94 $100.00
±0— Halcon ±0— Slawson $36.76 $56.94 $80.83
$45.23 $64.00 $96.33
±0— Exxon $37.05 $53.51 $74.63
±0— Lime Rock $42.40 $61.69 $89.87
±0— SM Energy $49.32 $68.91 $91.09
±0— Devon $62.10 $84.55 $100.00

±0— No quarterly change in position +X Increase quarterly position by X places –X Decrease quarterly position by X places

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 Operator Leaderboard Report
Producer by Basin Comparison -- HENRY HUB BREAK-EVEN PRICE & TIER -- Latest Guidance 3Q2018

$ 1.60 $ 10.00+
APPALACHIAN - HENRY HUB GAS PRICES APPALACHIAN - WV - HENRY HUB
PRODUCER 1 2 3 PRODUCER 1 2 3
+2 Antero $1.75 $2.37 $4.04 ±0— Antero $1.60 $2.22 $3.05
+2 Chesapeake $1.78 $2.82 $5.55 ±0— Southwestern $1.72 $2.79 $5.30
+3 Consol Energy $1.99 $3.13 $10.00 ±0— EQT $2.29 $3.00 $6.34
–2 Eclipse $1.70 $2.30 $5.67 ±0— Blue Ridge $2.54 $4.82 $10.00
±0— EQT $1.79 $2.75 $5.09 ±0— Consol Energy $3.03 $5.31 $10.00
–5 Gulfport $1.71 $2.37 $4.65 ±0— Chesapeake $3.61 $9.73 $10.00
±0— Hess $3.32 $4.35 $7.00
ARKOMA - FAYETTEVILLE - HENRY HUB
APPALACHIAN - PA NORTH - HENRY HUB PRODUCER 1 2 3
PRODUCER 1 2 3 +1 Exxon $3.52 $5.36 $10.00
±0— Cabot $1.80 $2.40 $3.44
±0— Southwestern $1.97 $2.78 $4.13 ARKOMA - WOODFORD - HENRY HUB
±0— Chesapeake $2.08 $3.16 $6.12 PRODUCER 1 2 3
±0— Chief $2.27 $3.09 $5.09 ±0— BP $2.48 $4.04 $7.97
±0— Repsol $2.55 $3.51 $7.45
EAST TEXAS - ARKLATEX HAYNESVILLE - HENRY HUB
±0— Shell $2.63 $4.43 $7.83
PRODUCER 1 2 3
±0— National Fuel Gas $2.70 $4.11 $6.76
±0— Chesapeake $1.99 $2.94 $4.85
+1 EQT $3.38 $4.55 $7.19
±0— BP $2.24 $3.65 $6.38
–1 Range Resources $3.38 $5.03 $7.40
±0— Comstock $2.25 $4.31 $6.47
APPALACHIAN - PA SOUTH - HENRY HUB ±0— Exxon $2.44 $4.14 $10.00
PRODUCER 1 2 3 ±0— EXCO $2.61 $3.28 $4.58
±0— EQT $6.17 $10.00 $10.00 ±0— QEP $2.72 $4.62 $5.53
±0— Sabine O&G $2.89 $5.87 $10.00
APPALACHIAN - PA WEST - HENRY HUB ±0— Range Resources $2.96 $4.67 $7.04
PRODUCER 1 2 3 ±0— Devon $10.00 $10.00 $10.00
±0— Range Resources $1.57 $2.46 $5.86
±0— EQT $1.65 $2.35 $3.40
±0— Consol Energy $1.82 $2.87 $6.27
±0— Chesapeake $3.94 $5.40 $7.86

±0— No quarterly change in position +X Increase quarterly position by X places –X Decrease quarterly position by X places

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 Operator Leaderboard Report
Producer by Basin Comparison -- HENRY HUB BREAK-EVEN PRICE & TIER -- Latest Guidance 3Q2018

$ 1.60 $ 10.00+
FT. WORTH BASIN - HENRY HUB
PRODUCER 1 2 3
±0— EOG $2.49 $7.94 $10.00
±0— EnerVest $2.70 $3.95 $6.81
±0— Devon $2.77 $5.24 $10.00
±0— Exxon $3.43 $5.56 $9.04
±0— Atlas $4.50 $7.27 $10.00

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±0— No quarterly change in position +X Increase quarterly position by X places –X Decrease quarterly position by X places

Page 4 of 4 3Q18-Leaderboard-01data; 12/13/18