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➢ Emphasize Health, Safety and Environmental best practices and compliance
➢ Acquire and develop oil and gas producing assets in the Ventura Basin of California
➢ Build value from acquired assets

➢ Emphasize Health, Safety and Environmental best practices and compliance
➢ Acquire and develop oil and gas producing assets in the Ventura Basin of California
➢ Build value from acquired assets

➢ Emphasize Health, Safety and Environmental best practices and compliance
➢ Acquire and develop oil and gas producing assets in the Ventura Basin of California
➢ Build value from acquired assets

Carbon California operates and develops oil and natural gas producing properties in the Ventura Basin of California.

Carbon California operates and develops oil and natural gas producing properties in the Ventura Basin of California.

Carbon California operates and develops oil and natural gas producing properties in the Ventura Basin of California.

Carbon California Company

Carbon California Company

Carbon California Company

• Lease operating expense reductions
• Gathering infrastructure optimization
• Production enhancement projects
• Field development projects
• Operational synergies

• Lease operating expense reductions
• Gathering infrastructure optimization
• Production enhancement projects
• Field development projects
• Operational synergies

• Lease operating expense reductions
• Gathering infrastructure optimization
• Production enhancement projects
• Field development projects
• Operational synergies

➢ Low capital, low risk, field development projects, 15 year- inventory of identified and engineered projects
➢ 100% Held by Production and Fee Mineral acreage

➢ Low capital, low risk, field development projects, 15 year- inventory of identified and engineered projects
➢ 100% Held by Production and Fee Mineral acreage

➢ Low capital, low risk, field development projects, 15 year- inventory of identified and engineered projects
➢ 100% Held by Production and Fee Mineral acreage
➢ Low water cut, 5% base production decline
➢ Shallow depth (2,000' to 8,000')
➢ Permitted water management systems
➢ Favorable land and regulatory environment
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California Oil Basins

 

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California Oil Basins

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Ventura County Basins

 

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Ventura Basin Fields

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as of
December 31, 2022

as of
December 31, 2022

as of
December 31, 2022

Reserves
(mmboe)

Reserves
(mmboe)

Reserves
(mmboe)

PV10%
($ million)

PV10%
($ million)

PV10%
($ million)

$ 272.7

$ 272.7

$ 272.7

$ 41.7

$ 41.7

$ 41.7

$ 314.3

$ 314.3

$ 314.3

Oil and Gas Reserves

Oil and Gas Reserves

Oil and Gas Reserves

(SEC Compliant)

(SEC Compliant)

(SEC Compliant)

PROVED RESERVES *

PROVED RESERVES *

PROVED RESERVES *

* 82% Oil and NGL

* 82% Oil and NGL

* 82% Oil and NGL

PROVED DEVELOPED RESERVES

PROVED DEVELOPED RESERVES

PROVED DEVELOPED RESERVES

16.5

16.5

16.5

18.2

18.2

18.2

17.0

17.0

17.0

PROVED UNDEVELOPED RESERVES

PROVED UNDEVELOPED RESERVES

PROVED UNDEVELOPED RESERVES

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