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WildHorse Resource Development Corp
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May 2018 Company Presentation
| Jay Graham | Page 4 of 11 |
December 14, 2025
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0 10 20 30 40 50 2015 2016 2017 2018E MBoe/d Premier E&P Company with Top Tier Returns, Growth and Margins 1. Eagle Ford wells drilled and completed as of March 31, 2018, excludes test wells and wells with insufficient production to estimate an EUR. 2. Includes locations outside of CGA’s 3P area. See “Management Locations” in the Appendix section of this presentation for more information. 3. Reserve data based on December 31, 2017 reserve report audited by Cawley, Gillespie & Associates (“CGA”) excluding the North Louisiana assets divested on March 29, 2018. 4. Includes 71 gross (53 net) Austin Chalk locations. 5. Based on consensus pricing as of 5/1/18: $61.50 / $2.97 for 2018, $62.00 / $3.00 for 2019, $62.75 / $3.01 for 2020, $61.00 / $3.15 for 2021, $57.00 / $3.20 for 2022 and thereafter for WTI and Henry Hub, respectively. 6. 2018E based on midpoint of guidance. 7. See slide 34 in the Appendix for reconciliation of EBITDAX. Premier Acreage Position in the Eagle Ford Second largest Eagle Ford position in the industry 4 ? TOP TIER RETURNS, GROWTH AND MARGINS ? 89% growth in 2018 Eagle Ford production at guidance midpoint ? High realizations and low operating costs lead to superior cash margins ? PROVEN ABILITY TO EXECUTE ? Outperformance of Gen 3 Eagle Ford wells ? Increased the Eagle Ford type curve to an EUR of 95 Boe/ft from 91 Boe/ft (1) ? Average of 117 wells, located throughout the acreage position, are outperforming the 95 Boe per foot public Eagle Ford type curve ? 20%+ efficiencies in drilling days and cash operating costs/Boe achieved in 2017 ? POSITIONED FOR LONG TERM GROWTH ? Deep Eagle Ford inventory ? 3,154 net locations at the 95 Boe/ft type curve (2) ? Over 30 years of inventory at current pace ? Austin Chalk upside potential on ~100,000 net acres ? Infrastructure in place to support long-term growth ? FINANCIAL STRENGTH AND FLEXIBILITY ? Low leverage profile with no near term maturities ? Net Debt / Q1’18 Annualized EBITDAX (7) at 1.3x, expected to trend downward ? Liquidity of $948 MM at Q1’18 (8) Key Investor Considerations Peer Leading Production Growth in the Eagle Ford (5) Eagle Ford Net Acres ~404,000 Proved Reserves (MMboe) 385.6 % Liquids 88% % Oil 73% PV10 of Proved Reserves ($MM) $3,209 Q1'18 Production (Mboe/d) 40.4 % Liquids 88% Drilling Locations Gross 4,785 Net 3,207 Development well IRR 60% (3) (4) (5) 8. Pro-forma for the issuance of $200 million of 6.875% Senior Notes due 2025 in April 2018 and repayment of borrowings under the revolving credit facility.