Investor Presentaiton
TPL is a Market Leader for Water in the Northern Delaware
Water Services and Operations
Delaware Produced Water Volumes of ~2,000 mbbls/d at ~$0.10/bbl()
Total Produced Water Volumes of ~2,080 mbbls/d at ~$0.10/bbl(1)
5,000
TPL's Established Footprint Allows Optionality with SWD
Operators to Negotiate Increased Economics
TEXAS
EST 1888
PACIFIC
LAND CORP
Delaware Sourced Water Volumes of ~241 mbbls/d at ~$0.62/bbl (2)
Total Sourced Water Volumes of ~328 mbbls/d at ~$0.60 / bbl (2)
60%
2,500
Provides Irreplaceable Additional Upside as Aquifer Runs
Underneath TPL Land
40%
Produced Volumes (mbbls/day)
4,500
4,000
3,500
3,000
2,500
2,000
1,500
1,000
500
2018 Average
Capture Rate
2019 Average
Capture Rate
2021 Average
Capture Rate
2020 Average
Capture Rate
50%
2022 Average
Capture Rate
40%
30%
20%
10%
TPWR Capture Rate
Completions Volumes (mbbls/day)
2,000
1,500
1,000
500
2018 Average
Capture Rate
2019 Average
Capture Rate
2020 Average
Capture Rate
35%
30%
2021 Average
Capture Rate
2022 Average
Capture Rate
25%
20%
15%
10%
5%
TPWR Capture Rate
0%
0%
Jan-18 Jul-18 Jan-19 Aug-19 Feb-20 Sep-20 Mar-21 Sep-21 Apr-22 Oct-22
■Northern Delaware Region Volumes (Estimated) ■TPL Northern Delaware Volumes (Actuals)
(1)
Jan-18 Jul-18 Jan-19 Aug-19 Feb-20 Sep-20 Mar-21 Sep-21 Apr-22 Oct-22
Northern Delaware Region Volumes (Estimated) ■TPL Northern Delaware Volumes (Actuals)
(2)
Source:
Note:
(1)
(2)
Royalty Based Business Model Captures Increased Sourcing and Disposal Volumes in Northern Delaware Focus Area
Company data and Enverus as of 12/31/22.
Northern Delaware Region is defined as approximately 1,400,000 acres surrounding TPL's Northern Delaware Surface position including ~900,000 acres in Texas and ~500,000 acres in Southern New Mexico.
Capture rate defined as TPL volumes as a percentage of total volumes in the Northern Delaware Region. Regional water volumes based on Enverus estimated WOR, historic oil production and Enverus oil type curves. Historic volumes represent horizontal wells turned to production NYSE: TPL
since TPWR formation in Jun. 2017.
TPL data is the average for 4Q 2022; Regional produced water volumes based on Enverus estimated water production from wells drilled since TPWR formation (Jun. 2017) shown through 4Q 2022 based on available data.
TPL data is the average sourced + treated volumes for 4Q 2022. Regional sourced /treated water demand based on Enverus reported well fluid intensity volumes for wells completed in the Northern Delaware Region shown through 4Q 2022 based on available data.
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