Asset Management & Operations

Team Performance Highlights

Headquartered in Denver, Colorado, Faro Oil & Gas is a privately-owned energy company focused on acquiring and developing proved-producing assets in conventional and unconventional plays across the continental United States.

Faro’s technical team has worked together for nearly a decade, combining efforts to identify and assess prospects encompassing more than 500 drilling locations with over 160 wells drilled in the past eight years. The following outlines key combined team performance highlights, which demonstrate the ability to evaluate geologic potential as well as identify and implement operational efficiencies in various production strategies. The team now applies this same skillset and passion to Faro Oil & Gas, working to identify and optimize opportunities in our core areas of interest.

Geology

Team averaged 94% lateral placement efficiency (86% company-wide)
Equates to 6.4 MM barrels reserve lift with $120 MM PV10 impact

Drilling

Consistently ran $.5 MM under AFE on 160 wells. ($80MM CAPEX Savings)
Reduced Dry Hole cost from $2.8MM to $1.1MM within 24 months

Reserves

Increased overall reserves year-over-year through the drill bit
Increased reserves by 10% on a well-by-well basis by implementing improvements in D&C practices, negotiating drill cost, and lowering OPEX

Production

Lowered operating costs by 18%. Went from .8 to .4 pulls per year
Workover costs reduced by 23%
Production increase by ~20 bbls per recompleted well (20 wells per year recompleted)

Completions

Continuous improvement process led to increases to 41 completions stages and standardization of 7,500’ laterals
New technology allows reduction of stages with equivalent results

Information is provided for informational purposes only; past performance is no guarantee of future results.