Colby Arnold

Lovin the life I'm livin... Oil & Gas hand
Proud KU Alum #RockChalk

Good or bad, thoughts here are my own 💡

[Colby Arnold @THEkidCOLBY]

@PipelineFlows Different Comstock (CHCI vs. CRK) than most of us usually think about though…

[Colby Arnold @THEkidCOLBY]

@GringoInvesting @PlaneAdmirer As for choke management comment, not meant to be excuse for public data issue, simply providing background as to why internal data for 2024 (shallower than normal drawdown) looks different than 2020-2023 and 2025 (normal drawdown)

[Colby Arnold @THEkidCOLBY]

@GringoInvesting @PlaneAdmirer Unique to EXE though, 2024 was a split year with some CHK and some SWN data. SWN reported the way that broke, so their data stopped. This is a important distinction because it’s highest productivity in entire state. So in public data, EXE looks worse YoY and so does entire basin.

[Colby Arnold @THEkidCOLBY]

@GringoInvesting @PlaneAdmirer I think you might be missing the entire point of the slide, which is that LA state data for 2024 and 2025 is currently incorrect because of a reporting issue inside the DENR. It impacts multiple operators in the state, this slide simply shows what it actually is for EXE.

[Colby Arnold @THEkidCOLBY]

@ZmansEnrgyBrain Understood, it’s directed at their quote

[Colby Arnold @THEkidCOLBY]

@JamieHeard5 Stay tuned 🫡

[Colby Arnold @THEkidCOLBY]

@ruckermc55 @TeddyGambino Caught my attention 😁

[Colby Arnold @THEkidCOLBY]

@JamieHeard5 Oddly enough it’s most of our Legacy SWN 2024 wellset pre-close, which is the highest productivity acreage in the state. From what I can tell, also impacts BPX, GEP, CRK, and Aethon.

[Colby Arnold @THEkidCOLBY]

@JamieHeard5 Would also offer up that Haynesville cycle times are longggg, so unless you built productive capacity to address this, the volumes won’t materialize until late 2025.

[Colby Arnold @THEkidCOLBY]

@JamieHeard5 Agree with all components of your first bullet. Consolidation, producer discipline, and private actions have all changed basin dynamics.

I will point out that LA is significantly behind on prod data and the publicly available 2024 wellset is <40% of TILs - productivity is fine.

[Colby Arnold @THEkidCOLBY]

@JamieHeard5 Thanks Jamie. A lot of thought went into message around market tightness pulling additional supply, not us pushing.

[Colby Arnold @THEkidCOLBY]

@JamieHeard5 This is an incredible use of that meme, well done 😂

[Colby Arnold @THEkidCOLBY]

@JamieHeard5 @BowTiedFeline Agree. Additionally on 2, Matterhorn dumps gas to Katy in West Houston which has very limited connectivity to the Gulf currently. It’s Permian egress sure, but impacts Katy and HSC more than anything.

[Colby Arnold @THEkidCOLBY]

@ruckermc55 @jdubwttp Heck yeah, Jdub is the man

[Colby Arnold @THEkidCOLBY]

@WAR527 @VPMinerals JPM is their source

[Colby Arnold @THEkidCOLBY]

@RBNEnergy Thank you!