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Operations

Operations

Overview

Our assets consist primarily of producing oil and natural gas properties and are located in Oklahoma, Texas, Louisiana, Wyoming and offshore Southern California. Most of our oil and natural gas properties are located in large, mature oil and natural gas reservoirs with well-known geologic characteristics and long-lived, predictable production profiles and modest capital requirements.

  • Oklahoma - Approximately 37% of our estimated proved reserves as of December 31, 2019 were located in the Oklahoma region.
  • East Texas / Louisiana – Approximately 26% of our estimated proved reserves as of December 31, 2019 were located in the East Texas / Louisiana region.
  • Offshore California – Approximately 12% of our estimated proved reserves as of December 31, 2019 were located in federal waters offshore Southern California.
  • Rockies – Approximately 23% of our estimated proved reserves as of December 31, 2019 were located in the Rockies region.
  • South Texas – Approximately 2% of our estimated proved reserves as of December 31, 2019 were located in South Texas.

Total Company

Est. Proved Reserves (MMBoe) 1 163
% Proved Developed 80%
% Liquids Reserves 61%
Gross Wells 2,643
Net Wells 1,567
1Q20 Production (MBoe/d) 29.7
California
California
Texas
Louisiana
Wyoming
Oklahoma

(1) Reflects estimated proved reserves as of December 31, 2019 prepared by Cawley, Gillespie and Associates, Inc.

Oklahoma

Our liquids-rich acreage in Oklahoma consisted of approximately 102 thousand net (140 thousand gross) prospective acres in the Mississippian Lime trend in the Woods and Alfalfa Counties of Oklahoma. Our Oklahoma properties contained 60 MMBoe of estimated net proved reserves as of December 31, 2019.

Est. Proved Reserves (MMBoe) 1 60
% Liquids Reserves 50%
Gross Wells 426
Net Wells 322
1Q20 Production (MBoe/d) 9.8
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Oklahoma

(1) Reflects estimated proved reserves as of December 31, 2019 prepared by Cawley, Gillespie and Associates, Inc.

East Texas / North Louisiana

Our East Texas / North Louisiana properties include wells and properties primarily located in the Joaquin, Carthage, Willow Springs and East Henderson fields in East Texas. These gas-weighted properties collectively contained 258 Bcfe of estimated net proved reserves as of December 31, 2019.

Est. Proved Reserves (Bcfe)1 258
% Gas Reserves 23%
Gross Wells 1,601
Net Wells 900
1Q20 Production (MMcfe/d) 70.2
Texas
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Texas
Louisiana

(1) Reflects estimated proved reserves as of December 31, 2019 prepared by Cawley, Gillespie and Associates, Inc.

Offshore California

Our oil-producing California properties, also known as the Beta properties, include: two wellbore production platforms and one production handling and processing platform. The Beta properties also include the San Pedro Bay Pipeline Company, which owns and operates a 16- inch diameter oil pipeline that extends approximately 17.5 miles from one of the Beta platforms to the Beta pump station located onshore at the Port of Long Beach, California, and an onshore tankage and metering facility. Our Beta properties contained 20 MMBbls of estimated net proved oil reserves as of December 31, 2019.

Est. Proved Reserves (MMBbls) 1 20
% Oil Reserves 100%
Gross Wells 55
Net Wells 55
1Q20 Production (MBbls/d) 3.2
California
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California

(1) Reflects estimated proved reserves as of December 31, 2019 prepared by Cawley, Gillespie and Associates, Inc.

Rockies

Our liquids-heavy Rockies properties include wells and properties primarily located in the Lost Soldier and Wertz fields in the Rockies at our Bairoil complex. Our Rockies properties contained 37 MMBbls of estimated net proved oil and NGLs reserves as of December 31, 2019.

Est. Proved Reserves (MMBbls) 1 37
% Liquids Reserves 100%
Gross Wells 267
Net Wells 267
1Q20 Production (MBbls/d) 4.1
California
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Wyoming

(1) Reflects estimated proved reserves as of December 31, 2019 prepared by Cawley, Gillespie and Associates, Inc.

South Texas

Our non-operated South Texas properties include wells and properties in fields located primarily in the Eagle Ford and Eagleville. Our South Texas properties contained 3 MMBoe of estimated net proved reserves as of December 31, 2019.

Est. Proved Reserves (MMBoe) 1 3
% Liquids Reserves 90%
Gross Wells 24
Net Wells 23
1Q20 Production (MBoe/d) 0.8
South Texas
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Texas

(1) Reflects estimated proved reserves as of December 31, 2019 prepared by Cawley, Gillespie and Associates, Inc.