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Energen Resources Corp
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46th Annual Scotia Howard Weil Energy Conference
| Johnny Richardson | Page 4 of 11 |
June 07, 2025
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" 46th Annual Scotia Howard Weil Energy Conference "
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Focus on Value Creation 4 ? Bringing Value Forward in CY18 ? Drilling & development capital estimated to range from $1.1B to $1.3B ? Plans include drilling approximately 130 gross/120 net horizontal wells and completing approximately 123 gross/113 net horizontal wells (including 30 gross/28 net DUCs at YE17) ? 2018 YOY production growth estimated at 25% at guidance midpoint ? 3-Year Outlook Leverages Superior Economics to Further Drive Shareholder Value ? 3-year production CAGR expected to exceed 28% ? Annual production estimated to reach ˜160 mboepd in 2020, with 4Q exit rate of ˜170 mboepd ? Drilling & development capital estimated to increase to $1.6B-$1.8B in 2020 ? 3-year EBITDAX CAGR estimated at approximately 35% ? Balance sheet ensures capital flexibility as net debt to EBITDAX estimated to remain within 1.0x-1.5x each year Three-year outlook reflects commitment to bringing forward NAV of high quality assets while maintaining strong balance sheet