Current Engagements

South Texas Producing Property Opportunity

Stable Production base yielding significant cash flow ( ~4 MMcfe/d | ~$1.2MM 2019 operating income)

11,870 net acres (100% HBP) with ~88% of the position operated by Smith Production

Highly delineated position with 60 actively producing properties

Austin Chalk Development Opportunity

5,228 highly-contiguous net acres, in the heart of the Austin Chalk play, with 4 acreage blocks identified (Avg. 8/8ths lease NRI: ~77%)

Extensions available for ~90% the of position, providing flexibility for near-term development timing (Acreage in primary term with options to extend to 2023+)

Texas American has completed rigorous analysis identifying 28,300 lateral-feet in 5 high-quality locations

Bids due September 16, 2020