Wilcox (Southeast Texas)

• Overall Wilcox Highlights
• Drilled 172 operated wells since 2003
  
• (162 vertical, 11 horizontal)
• Program ROR > 80%
• Operated with working interest ~ 91%
• Production: ~ 82 MMcfe/d (42% liquids)
• Running one rig
  

• Gilly Field – World Class Gas Reservoir
• 400 Bcfe stacked pay gas resource
• Cumulative production ~ 130 Bcfe
• Average EUR of 10-20 Bcfe per well
• Typical well cost ~ $6 MM
• ROR > 100%

• Unit's Competitive Advantages
• Premium Gulf Coast pricing for oil and gas
• Wet gas/condensate provides margin uplift
• Large 3D seismic database provides consistent stream of exploratory prospect ideas
• Conventional over-pressured reservoirs provide homerun potential at low acreage costs

 

Hoxbar (Marchand Sand)

• Hoxbar Marchand Core Area
• EUR ~ 622 MBoe
• Well cost ~ $5.4 MM
• 77% liquids (63% oil)
• ~23,000 contiguous net acres (84% HBP)
• ~40 to 50 locations with average working interest of 89%
• ROR¹ ~72%
• Running one rig

• Future Growth
• Incremental optimization of drilling and completion process has kept cost low without sacrificing EUR
• Extended laterals improving capital efficiency

1 - 11/26/2018 Price Deck with 1st Production Starting 1/01/2019;
See Q4 2018 Economic Prices in Appendix  of current Corporate Presentation (available at www.unitcorp.com/investor/reports.html).