Investor Presentaiton
17%
Strong, Organic Growth Coupled With Peer-Leading Financial Returns
Total MMBOE Proved Reserves Growth(1)
(YE2018 to YE2019)
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E&P and Total Return on Capital Employed (2) 3-Year Average
(2017 to 2019)
Peer 6
Matador
28%
20% 24%
Peer 1
Peer 2
Peer 3
Peer 4
15%
14%
Peer Average
15%
Peer 7
15%
14%
Peer 10
14%
10%
Peer 9
Peer Average
14%
1%
Peer 5
Peer 1
14%
-5%
Peer 6
Peer 2
13%
-6%
Peer 7
-6%
Peer 4
13%
Peer 8
-8%
Peer 3
13%
Includes Impact of
Peer 9
-8%
Peer 5
Midstream Transactions (3)
12%
Peer 10
-11%
Peer 8
11%
Average Daily Total Equivalent Production Growth
(Q4 2018 to Q4 2019)
Cash Return on Cash Invested (5) 3-Year Average
(2017 to 2019)
Peer 2(4)
65%
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Peer 3
Matador
33%
Peer 3
22%
Peer 1
Peer Average
17%
Peer 2
Peer 6
16%
Peer 4
Peer 1
15%
Peer 10
Peer 4
15%
Peer Average
Peer 5
14%
Peer 9
13%
Peer 8
12%
Peer 7
4%
Peer 10
-1%
Peer 9
Peer 7
Peer 5
Peer 6
Peer 8
11%
13%
13%
13%
11%
10%
10%
10%
9%
8%
7%
Includes Impact of
(3)
7%
Midstream Transactions
7%
Source: Company filings and Bloomberg. Peers included: CPE, CDEV, DVN, FANG, MRO, OAS, PE, SM, WPX and XEC. CPE, FANG and XEC closed significant M&A transactions in 2018 and 2019.
(1) CPE and XEC are pro forma for significant acquisitions that closed in 2019.
(2) E&P Return on Average Capital Employed ("ROACE") and Total ROACE are non-GAAP financial measures. For a reconciliation of E&P ROACE and Total ROACE to the corresponding GAAP financial
measures, see Appendix.
(3) Includes gain on the receipt of a special distribution of $172 million in connection with the formation of San Mateo I in 2017 and $14.7 million in performance incentives paid by an affiliate of Five Point Energy
LLC ("Five Point") in each of 2018 and 2019 in connection with the formation of San Mateo I.
(4) Significant acquisition occurred mid-Q4 2018.
(5) Cash Return on Cash Invested ("CROCI") and Total CROCI are non-GAAP financial measures. For a reconciliation of CROCI and Total CROCI to the corresponding GAAP financial measures, see Appendix.
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