Investor Presentaiton
Q2 2023 Cap Ex by Basin
Capital expenditures were weighted toward the Permian Basin in Q2.
56%
3%
•
39%
Region(1)
Williston
Permian
Marcellus
1) Total Capital Expenditures excluding the 1% contribution from 'other items'.
•
TILS +37% v Q2 22, while D&C list sits +19% vs Q2 22 and has held
at an elevated average level of completion
⚫ TIL activity expected to ramp materially in Q3 and remain elevated in
Q4
• Low Marcellus cap ex in 2023, in-process activity planned for 2024
turn-in-lines
•
Inflation appears to have moderated, recent trends show modest
reductions in costs
•
Q2 workover activity elevated vs historical levels and accounted for
~7% of D&C capital as operators were opportunistic during lower
crude price windows
Investor Presentation September 2023 | 34 NOGView entire presentation