Investor Presentaiton
2023 CAPITAL EXPENDITURE AND P&A BUDGET
2023 Capex¹ guidance:
$90 $110 MM
Included in this range are
planned expenditures related to
one deepwater well and three
shelf wells, as wells as facilities,
seismic, and recompletions
Capex Allocation 1,2
13%
42.0
Production vs Capex
Capex($MM)
Production (MBoe/d)
$200.0
45.0
$180.0
$160.0
40.0
40.6
40.1
$140.0
39.0
$100
20%
$137.8
38.1
$120.0
35.0
MM
$100.0
61%
$80.0
$100.0
30.0
2023 P&A guidance:
$25 $35 MM
Current year activity driven by
obligations and prior deferrals
on terminated leases with BSEE
Drilling and Completion
Facilities
Seismic, Leasehold & Other
Recompletions
6%
$60.0
$40.0
25.0
$41.7
$20.0
$32.1
$17.6
$-
20.0
2
2019
2020
2021
2022
2023E
Capex
-Production
1) Accrual basis capital expenditures only
2) Based on midpoint of annual guidance range
2023 Capex Includes More Capital for Recompletions
22
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