Piceance and Uinta Basins

Operations

Piceance and Uinta

Caerus’ current operations are focused on the Piceance and Uinta Basins where we operate over 7,400 producing wells and hold a substantial undeveloped acreage position with over 5,200 future drilling locations. Caerus has 1P Reserves (SEC) of approximately 2.5 Tcfe of natural gas and daily production of over 570 million cubic feet.

Caerus owns approximately 650,000 net acres of leasehold within the Piceance and Uinta Basins, with an an additional 36,000 net mineral fee acres and 10,000 net royalty interest acres.

Caerus employs approximately 292 employees in its offices in Denver, Parachute, Colorado and Vernal, Utah.

Significant Drilling Inventory and Reserve Potential

Focused on conventional gas supported by significant HBP land position

Daily Production Rate (Jun. 21)

574 MMcfe

1P Reserves (SEC)

2.5 Tcfe

Gas%/ PUD%

92%/19%

Drilling Locations (2P)

5,221

2P Reserves

15.2 Tcfe

Net Acreage (Q2 2021)

650,000

HBP (%)

90%

Statistics

Infrastructure

2,400 Miles

Gas and Water Gathering and Distribution Pipelines

3.5 MM Barrels

Water Storage Capacity

6 & 12

6 Water Treatment Facilities and 12 Water Storage Facilities

Total Acreage

36,000

of Owned Minerals.

Proved Reserves (strip) | Bcfe

926,000

Gross Acreage

Production | MMcfe/d

650,000

Net Acreage

Net Acreage | M

*Based off preliminary estimates as provided by seller for XTO acquisition