Mobile Bay Acquisition and GOM Infrastructure Advantage
HISTORY OF CREATING LONG-TERM VALUE FROM GOM
ACQUISITIONS
TOTAL
$115 MM1
Paid out in Aug. 2011
Net average production (2) of
950 Boe/d from Matterhorn
and Virgo
NEWFIELD
$206 MM1
Paid out in Nov. 2014
Net average production (2) of 1,774
Boe/d from 78 offshore blocks, 65 of
which are in deepwater
Reserves (3):
1P-5.6 Mmboe
2P 10.3 Mmboe
Reserves (3):
1P 1.8 Mmboe
2P 5.1 Mmboe
woodside
$55 MM1
Investments Post Acquisition
Paid out in Sep. 2019
Net average production (2) of 392 Boe/d
from Neptune and 24 add'l blocks. One
exploration well brought online in 2014
Reserves(3):
1P 2.1 Mmboe
2P 2.5 Mmboe
Cobalt
International Energy
$17 MM1
Paid out in Aug. 2018
Net average production (2) of 276
Boe/d from Green Canyon 859,903,
& 904
Marubeni ConocoPhillips
$18 MM1
Paid out in Apr. 2021
Net average production (2) of 1,741
Boe/d from Garden Banks 783 &
784 (Magnolia Field)
Reserves(3):
1P -0.2 Mmboe
2P 0.3 Mmboe
Reserves (3):
1P 12.0 Mmboe
2P 20.8 Mmboe
2010
2011
2012
2013
2014
2015
2016
2017
2018
2019
2020
2021
2022
$116 MM1
Paid out in Nov. 2012
Net average production (2) of 408
Boe/d from Tahoe and 6 other fields
Reserves(3):
Marubeni
$61 MM1
Paid out in Oct. 2014
Net average production (2) of 2,154
Boe/d from Fairway Field
CALLON
PETROLEUM
$83 MM1
Investments Post-Acquisition
Net average production (2) of 445 Boe/d
from Medusa and 12 other fields. Two
exploration wells brought on production
in 6/2015
1P 0.8 Mmboe
2P 1.4 Mmboe
Reserves (3):
1P 14.5 Mmboe
2P 15.8 Mmboe
Reserves (3):
1P 2.1 Mmboe
2P 3.7 Mmboe
ExxonMobil
$171 MM1
Chevron
Paid out in Jan. 2022
Net average production (2) of
15,279 Boe/d. Potential to add
incremental reserves with minimal
capital by consolidating operations
Reserves (3):
1P 76.1 Mmboe
2P 87.4 Mmboe
ANKOF
Undisclosed
Private Seller
$48 MM1
Paid out in Aug. 2022
Net average production (2) of 3,646
Boe/d. Acquired 100% working
interest of operated assets, including
over 50 producing wells
Reserves(3) :
1P 4.8 Mmboe
2P 8.9 Mmboe
1) Purchase prices as of closing dates, which are often adjusted for normal and customary post-effective date adjustments
2) 4Q 2022 net average production; 3Q 2022 net average production used for Woodside acquisition because assets were shut -in during Q4, but back online in February 2023
3) Based on year-end 2022 reserve report at SEC pricing (1P Life) of $94.14/Bbl and $6.36/MMBtu
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