Slide 1: Investor Presentation Q2 2022
Investor Presentation Q2 2022 CONFIDENTIAL
Slide 2: Colgate Energy Overview and Recent Events & Q2 Highlights
Colgate Energy Overview Recent Events & Q2 Highlights Texas Acreage Map Centennial Merger: On May 19th, Colgate and CDEV announced a merger of equals transaction, creating a premier Delaware Basin pure-play Riverbend—Highly aligned management team, with a track record of execution and strong returns
Slide 3: Q2 2022 Financial Review
Q2 2022 Financial Review Quarter Highlights Financial Results $‘s in millions, unless otherwise noted Q1 2022 Q2 2022 Total Production Oil Production EBITDAX ($MM) (Boepd) (Bopd) Production Unhedged Oil (MBbls) 2,661 2,924 6% Gas (MMcf) 10,355 11,087 66,273 9% $375 62,724 32,132 34% NGL (MBbls) 1,25
Slide 4: Adding Value Through Accretive Transaction
Adding Value Through Accretive Transaction Highlights Trade Map Colgate completed a strategic trade + acquisition Trade-In with an undisclosed partner in Reeves and Ward Trade-Out Counties in April 2022 Centennial —Final transaction was culmination of a series of conversations dating back as far as
Slide 5: Colgate's Commitment to ESG
Colgate’s Commitment to ESG Prioritizing ESG Operational Best Practices Management Focus and Oversight Environmental and Safety ✓ Colgate’s executive team manages the Company’s approach to ESG ✓ Lease operators equipped with Colgate-owned FLIR cameras to help including operation, social and governan
Slide 6: Colgate–Centennial Merger Update
Colgate—Centennial Merger Update Announced merger of equals transaction on May 19 Cleared Hart-Scott-Rodino (HSR) requirements Preliminary Proxy Statement filed on June 10 Definitive Proxy Statement filed on July 28 Centennial Shareholder Meeting scheduled for August 29 Merger expected to close shor
Slide 7: Establishing a Premier Permian Pure-Play
Establishing a Premier Permian Pure-Play Eddy On May 19, Centennial and Colgate Energy Northern Delaware (NM) announced a merger of equals, creating the largest ~55,000 Net Lea Acres Delaware Basin pure-play E&P company ✓Highly-aligned management team, with a track Loving Winkler record of execution
Slide 8: Appendix
Appendix
Slide 9: Hedging Summary
Hedging Summary Hedge Transaction – In Q2 2022, Colgate executed a series of strategic hedging transactions with the following impact:—Increased total crude hedges to 11.7 million Bbls and $90.73 / Bbl weighted average price(1)—Increased total gas hedges to 33.0 million MMBtu and a weighted average
Slide 10: Disclaimer
Disclaimer Forward-Looking Statements This presentation includes “forward-looking statements” under applicable securities laws. Such forward-looking statements are subject to a number of risks and uncertainties, many of which are not under Colgate Energy Partners III, LLC’s (including its subsidiari
Slide 11: Non-GAAP Definitions
Non-GAAP Definitions This presentation includes certain financial measures that are not calculated in accordance with GAAP. These measures include (i) EBITDAX, (ii) Free Cash Flow, (iii) PV-10, (iv) leverage ratio, (v) net debt, (vi) Cash Margin and (vii) Controllable Cash Costs. These non-GAAP fina