Oil and Gas Assets for Sale

DEAL PERSPECTIVES (MEDIA VERSION)

Quick 10 Pages of the Full 29 Page Report

$17.0B IN 1Q25 - UP FROM $9.6B IN 4Q

Rebound to 21 Deals - From Record Low 11

Compares to 22 Deals/Qtr avg. since 2022

Diamondback Involved in ~50% of Deal Value

FANG Buys Double Eagle IV for $4.1B

FANG Dropsdown $4.3B to VIPER

IPO: Infinity Natural Resources Goes Public

Elk Range (NGP) Buys OXY's DJ Minerals

Citadel Buys Paloma (Haynesville), $1.2B

Validus Buys 89 Energy III (SCOOP), $850MM

P/Es Continue Buying With ~$2B Last 2 Qtrs

CONTACT EAG FOR FULL 29 PAGE REPORT

STUDY 1007MA

Energy Advisors Group

Mr. Blake Dornak

VP - Marketing

4265 San Felipe Street Ste 650

Houston, TX 77027

Phone: 713-600-0123

Email: bdornak@energyadvisors.com

JOIN ENERGY ADVISORS AT LEC

Proud Sponsor

MAY 27-29, 2025

FOUR SEASONS - NEW ORLEANS

AGENDA INCLUDES:

- Gulf of Mexico E&P Update

- U.S. Onshore & Offshore Topics

- Emerging Energy Technology/AI

- Future of Louisiana Energy

- Current Trends In The Market

36 Presentations, Panels & Discussions

Networking Opportunities

Hosted By: Al Petrie Advisors

EVENT 9006MA

Energy Advisors Group

Mr. Blake Dornak

VP - Marketing

4265 San Felipe Street Ste 650

Houston, TX 77027

Phone: 713-600-0123

Email: bdornak@energyadvisors.com

NORTHERN ROCKIES REPORT

March 21, 2025; 50-Page Report

SIX BASINS IN WYOMING, UTAH, COLORADO

Uinta, Piceance, Green River

Powder River, Wind River, Bighorn

M&A, E&P, Capital Markets, Operations

Stacked Oil Pays, Horizontal Redevelopment

Conventional Gas Plays, Emerging Plays

Gross Production: 438 MBopd & 5.0 Bcfpd

High Deal Flow, $6.5 Billion in 2024

305 Operators Provide Ample Opportunities

Deal Activity Continuing, P/E Active

Lower Cost Inventory vs. Permian, EF, HV

DOWNLOAD REPORT

STUDY 8002MA

Energy Advisors Group

Mr. Blake Dornak

VP - Marketing

4265 San Felipe Street Ste 650

Houston, TX 77027

Phone: 713-600-0123

Email: bdornak@energyadvisors.com

DELAWARE BASIN REPORT - Vol 2

February 28, 2025; 48-Page Report

DELAWARE BASIN

M&A, E&P, Capital Markets, Operations

STACKED PAY. BONE SPRING & WOLFCAMP

>25,000-Horizontal Wells. 10,000 Verticals.

~160 RIGS RUNNING.

2,341-Drill Permits Issued Last 6 Months

1,885-DUCs Pending

Gross Production: 3.2 MMBopd & 14.8 Bcfpd

Delaware Reported $9 B in M&A, 8.5% Market

P/E Exits While Public Companies Buying

DOWNLOAD THIS REGIONAL REPORT

STUDY 3002MA

Energy Advisors Group

Mr. Blake Dornak

VP - Marketing

4265 San Felipe Street Ste 650

Houston, TX 77027

Phone: 713-600-0123

Email: bdornak@energyadvisors.com

FEBRUARY 21, 2025 SPECIAL REPORT

Diamondback Deals Continue

FANG BUYS DE IV, ALSO VNOM DROPDOWN

Buys Double Eagle IV Assets for $4.1 Billion

Dropsdown $4.2 Billion to Viper

40,000 Core Midland Acres from DE IV

Largely Undeveloped. (Inventory Play)

Most Attractive Midland Asset Remaining

Dropdown to Viper is Largest Royalty Deal

Viper gets Royalties Carved from Endeavor

Report Includes FANG Deal History

Comparative Look at Royalty Companies

DE IV Founders Involved with $14B in Exits

CLICK TO DOWNLOAD 14-PAGE REPORT

STUDY 1012MA

Energy Advisors Group

Mr. Blake Dornak

VP - Marketing

4265 San Felipe Street Ste 650

Houston, TX 77027

Phone: 713-600-0123

Email: bdornak@energyadvisors.com

EAGLE FORD & AUSTIN CHALK

February 12, 2025 Study. 44-Pages

EAGLE FORD & AUSTIN CHALK

Some Conventional Comments

45 Rigs Running - Down 10% From Year Ago

574 Permits Issued Last 6 Mns

616 DUCs - Up From 520 in July 2023

1.1 MMbopd and 6.8 Bcfpd

Oil Vols Flat, Gas Vols Up 50% Since 2020

COP, EOG and Crescent are Top 3 Producers

Covers M&A, E&P, Capital

$3.3 billion in Pure EF A&D in 2024

Crescent Dominates Buying w/4 Deals

DOWNLOAD 44 PAGE REPORT

STUDY 1008MA

Energy Advisors Group

Mr. Blake Dornak

VP - Marketing

4265 San Felipe Street Ste 650

Houston, TX 77027

Phone: 713-600-0123

Email: bdornak@energyadvisors.com

DEAL PERSPECTIVES (MEDIA VERSION)

Quick 9 Pages of the Full 25 Page Report

$9.6B IN 4Q24 - DOWN FROM $12.5B IN 3Q

$105B in 2024 Versus Record $192B in 2023

Average is $83B per Year since 2015

Record Low 11 Deals in 4Q

Average is 40 Deals per Quarter since 2015

Biggest Deal is Coterra's $3.95B Delaware

FourPoint Buys OVV's Uinta for $2.0B

CRGY Vaults to EF's #2 and #3 Gas & Oil Op.

Equinor Buys EQT's Marcellus Non-OP

Globally, Energy Deals of $263 B in 2024

Expect 2025 Trend Up Over 4Q 2024

CONTACT EAG FOR FULL 25 PAGE REPORT

STUDY 1006MA

Energy Advisors Group

Mr. Blake Dornak

VP - Marketing

4265 San Felipe Street Ste 650

Houston, TX 77027

Phone: 713-600-0123

Email: bdornak@energyadvisors.com

EAGLE FORD REFRAC REPORT

November 2024 (32 page) Report

SUPPLEMENT TO S. TEXAS REGIONAL

Eagle Ford and Eagle Ford Extension Area

430 ReFracs by 33 Operators Studied

COP, Devon, Marathon Dominate ReFrac's

~60% ReFrac's Are Good, Payback <12 mos

ReFracs Can Extend Tier 1 Inventory

Successful ReFracs Seen at $35 oil by COP

Shale 2.0 uses tech, efficiency, analytics

Highly Specialized Techniques

Simultaneous Completions Is Modern Trend

Simul Fracs avg IP180s of 107/boepd/1000'

DOWNLOAD 32-PAGE REFRAC UPDATE

STUDY 2006MA

Energy Advisors Group

Mr. Blake Dornak

VP - Marketing

4265 San Felipe Street Ste 650

Houston, TX 77027

Phone: 713-600-0123

Email: bdornak@energyadvisors.com

DEAL PERSPECTIVES (MEDIA VERSION)

Quick 9 Pages of The Full 26 Page Report

3Q24 NO PUBLIC MERGERS SINCE 2022

$12.4B in 3Q24 - Down from $30.6B in 2Q

19 3Q Deals - Down from 22 in 2Q

Private Equity Drives Top Two Deals of 3Q

Permian Still Leads with 7 of 19, or 37%

Viper Acquired Tumbleweed for $1.1 Billion

Post Oak Buys $475 MM of assets

Conventional Assets Heat Up

APA Sells non-core Permian Conventionals

Private Equity Back on the Rise

EnCap Closes Fund 12 with > $5.25 Billion

CONTACT EAG FOR FULL 26 PAGE REPORT

STUDY 1005MA

Energy Advisors Group

Mr. Blake Dornak

VP - Marketing

4265 San Felipe Street Ste 650

Houston, TX 77027

Phone: 713-600-0123

Email: bdornak@energyadvisors.com

DEAL PERSPECTIVES (MEDIA VERSION)

Quick 9 Pages of The Full 39 Page Report

2Q24 DEAL VALUE SLOWS SOME

$30.6B in 2Q24 - Down from $51.2B in 1Q

22 2Q Deals - Down from 26 in 1Q

Public Companies Buy 98% of Deals

Permian Cools with <10% Vs. 52% in 2023

Conoco Buys Marathon for $22.5 Billion

SM + NOG Stake Ground in Uinta for $2.2B

Crescent Energy Buys SilverBow for $2.1B

Public Company Consolidation Continues

Conoco Says $2B on Chopping Block

Street Talk Still Has Devon on the Hunt

CONTACT EAG FOR FULL 39 PAGE REPORT

STUDY 1004MA

Energy Advisors Group

Mr. Blake Dornak

VP - Marketing

4265 San Felipe Street Ste 650

Houston, TX 77027

Phone: 713-600-0123

Email: bdornak@energyadvisors.com

HAYNESVILLE REFRAC REPORT II

EAST TEXAS & NORTH LOUISIANA UPDATE

OCTOBER 15, 2024 SUPPLEMENT

HAYNESVILLE & BOSSIER REFRACS.

199 out of 6,155 Wells Have Been ReFrac'd

Aethon, CHK, SWN Dominate ReFrac's

~75% ReFrac's Are Good, Payback <12 mos

More Upside with >6,000 Legacy Wells

Successful ReFracs Approach Original IPs

Refracs Average 24-Stages w/225' Spacng

5,000' ReFrac Extimated Costs: $3.4 Million

Highly Specialized Techniques

Practices Evolving, Simul Frac Is Best

DOWNLOAD 23-PAGE REFRAC UPDATE

STUDY 2004MA

Energy Advisors Group

Mr. Blake Dornak

VP - Marketing

4265 San Felipe Street Ste 650

Houston, TX 77027

Phone: 713-600-0123

Email: bdornak@energyadvisors.com

JUNE 28, 2024 SPECIAL REPORT

Two More Impact Deals Close Out 02Q24

SM ENERGY & NOG BUY XCL RESOURCES

MATADOR BUYS AMEREDEV II

EnCap Sells Both XCL & Ameredev

XCL Buy Gives SM Energy Core Oily Uinta

Uinta Basin has 17 Proven & Emerging Pays

SM Says 175% IRR Single Well Economics

Biggest Deal in Northern Oil & Gas' History

Matador Deals Again with EnCap

Becomes 7th Largest Delaware Producer

Also Gets 19% Stake in Pinon Midstream

Matador Pro Forma Volumes: 187,250 Boepd

CLICK TO DOWNLOAD 12-PAGE REPORT

STUDY 1011MA

Energy Advisors Group

Mr. Blake Dornak

VP - Marketing

4265 San Felipe Street Ste 650

Houston, TX 77027

Phone: 713-600-0123

Email: bdornak@energyadvisors.com

JUNE 7, 2024 SPECIAL REPORT

3-SPRING DEALS SPARK CONSOLIDATION

CONOCOPHILLIPS BUYS MARATHON

Crescent Energy Buys Silverbow

Aethon Buys Tellurian's Haynesville Assets

Going, Going, Gone - 18 Names Since 2023

COP Plans to Buyback Issued Stock In <3 Yrs

Sees Shale 2.0 With ReFracs To Extend Tier 1

"Racetrack" Shows Logic For COP To Strike

Crescent Energy Moves Fast For SilverBow

Becomes 3rd Largest Eagle Ford Producer

Likely Not Finished With Eagle Ford Buys

Aethon Gets Tellurian's Haynesville Assets

CLICK TO DOWNLOAD 19 PAGE REPORT

STUDY 1010MA

Energy Advisors Group

Mr. Blake Dornak

VP - Marketing

4265 San Felipe Street Ste 650

Houston, TX 77027

Phone: 713-600-0123

Email: bdornak@energyadvisors.com

HAYNESVILLE REFRAC REPORT

Original May 29, 2024 (18 Pgs) Report.

NORTH LOUSIANA & EAST TEXAS

HAYNESVILLE & BOSSIER REFRACS.

~200 ReFrac/Recompletes in Study.

Only 3% of Legacy HZ Wells ReFrac'd.

ReFrac Vols Coming in at 90% of Original IP

Est. 75% of ReFracs Payback in <12 Months

Aethon, CHK & SWN Most Active In ReFracs

Avg. ReFrac is 7.3 Years From 1st Prod.

Our Analysts Note 4-Case Histories

Practices Evolving, Simul Frac is Best

Avg. ReFrac Scores ~90% of Original Rates

DOWNLOAD ORIGINAL 18-PAGE REPORT

STUDY 2003MA

Energy Advisors Group

Mr. Blake Dornak

VP - Marketing

4265 San Felipe Street Ste 650

Houston, TX 77027

Phone: 713-600-0123

Email: bdornak@energyadvisors.com

DEAL PERSPECTIVES (MEDIA VERSION)

Quick-9 Pages of The Full 33 Page Report

1Q24 HIGH VALUE. LOW DEAL FLOW

$51.2B in 1Q24 - Down from $143.9B in 4Q

22 1Q Deals - Up from 15 in 4Q But Still Slow

Public Companies Buy 99% of Deals

Permian Dominates With 61% of Total

Diamondback Gets Endeavor in Just 66 Days

Endeavor's $26 Billion Record Price/Private

Chesapeake+Southwestern=Gas Powerhouse

Expect Strong Publics as Continued Buyers

All Eyes Watching Gas Markets

Power for AI Adding MORE Gas Demand

CONTACT EAG FOR FULL 33 PAGE REPORT

STUDY 1003MA

Energy Advisors Group

Mr. Blake Dornak

VP - Marketing

4265 San Felipe Street Ste 650

Houston, TX 77027

Phone: 713-600-0123

Email: bdornak@energyadvisors.com

HAYNESVILLE & MIDDLE BOSSIER

April 12, 2024. 47-Page Report

NORTH LOUISIANA & EAST TEXAS

Covers Area M&A, E&P, Operations & Capital

Area Produces 15% of US Production

HZ Area Wells Now Making: 15.3 Bcfd

~35 Horizontal Rigs Running; Off Peak 71

311-Permits Issued Last 6 Months

293- DUCs Pending. Waiting To Complete.

7,450 HZ Wells Online Since 2010

CHK+SWN Haynesville Powerhouse (37%)

Haynesville West? Leon/Robertson Co., TX

Top Wells Score 34 - 61 MMcfd IP30

DOWNLOAD 47 PAGE REPORT

STUDY 2002MA

Energy Advisors Group

Mr. Blake Dornak

VP - Marketing

4265 San Felipe Street Ste 650

Houston, TX 77027

Phone: 713-600-0123

Email: bdornak@energyadvisors.com

CHORD BUYS ENERPLUS (Mar 11, 2024)

$4 Billion Deal. Newco Joins Large Cap Peers

COMBO NOW #1 BAKKEN PRODUCER

1.3 Million Net Acres.

Also gets 155 MMcf/d Non-op Marcellus

Enerplus Stock up 25% Since ERF In Play

Owners: 67% Chord, 33% Enerplus

~10 Years Drilling Inventory (1,824 Locs)

>40% Locs Ready For 3-Mile Laterals

Combined Entity Makes: 254,000 BOEPD

Est. $29/BOE Margins, Low Leverage

Maintaining 75%+ Return of Free Cash Flow

Offers Pure Play Focus w/Tech Expertise

CLICK TO DOWNLOAD 21 PAGE REPORT

STUDY 9005MA

Energy Advisors Group

Mr. Blake Dornak

VP - Marketing

4265 San Felipe Street Ste 650

Houston, TX 77027

Phone: 713-600-0123

Email: bdornak@energyadvisors.com

DIAMONDBACK BUYS ENDEAVOR

Feb 13, 2024. 30-Page Special Report.

PERMIAN $26 BILLION CONSOLIDATOR

FANG Jumps to #3 Permian Producer

Largest Private E&P Buyout Recorded

353,000 Boepd. 344,000 New Acres

Now 816,000 Boepd. 838,000 Acres

Now 6,100 Locations w/BE <$40 Oil

Owners: 60.5% FANG, 39.5% Endeavor

Continues Year of Permian Consolidation

$127 Billion In Deals. ~18% of Permian Vols

Remarkable Map w/Midland Basin Changes

Mewbourne Remains Private

CLICK TO DOWNLOAD 30 PAGE REPORT

STUDY 3010MA

Energy Advisors Group

Mr. Blake Dornak

VP - Marketing

4265 San Felipe Street Ste 650

Houston, TX 77027

Phone: 713-600-0123

Email: bdornak@energyadvisors.com

2023 YEAREND RECAP

January 29, 2024. Order Media or Full Report

RECORD CONSOLIDATION

$143.9B in 4Q - Up from $14.1B in 3Q23

Only 15-Deals - Down from 19-Deals in 3Q23

2-Mega Deals Skew 4th Qtr Deal Values

$191.7B in 2023, Up from $58.2B in 2022

71-Deals In 2023-Down from 116 in 2022

MIDLAND BASIN-WHITE HOT- $78.6B in 4Q

LOW DEAL COUNT.

P/E: $32B in Exits vs. $3.5B in Buys in 2023

P/E Funds Reloading. Targeting ~$17 Billion.

2024 & 2025 Should Prompt Market Activity.

CONTACT EAG FOR FULL 32-PAGE REPORT

STUDY 1002MA

Energy Advisors Group

Mr. Blake Dornak

VP - Marketing

4265 San Felipe Street Ste 650

Houston, TX 77027

Phone: 713-600-0123

Email: bdornak@energyadvisors.com