august 13 – 17, 2017 westin hotel | denver, co. - The Oil & Gas

AUGUST 13 – 17, 2017 WESTIN HOTEL | DENVER, CO.

www.theoilandgasconference.com

Everything you need to achieve your marketing objectives.

BRANDING

MARKET RESEARCH

EnerCom’s proven brandstorming process defines the five elements of your company’s brand, creating the foundation for effective differentiation and marketing.

Customized market size studies and target identification. Proprietary databases of operational and financial metrics for benchmarking corporate performance, prospect screening, identifying buyer strengths and challenges.

CONSULTING & PROGRAM MANAGEMENT Sales pitch development, market intelligence, program management and brand awareness studies.

INVESTOR RELATIONS

MEDIA

CRISIS COMMUNICATIONS

EnerCom is a globally recognized oil and Gas Consulting firm with a core focus on Investor relations. We can assist with Investor Targeting, Press Releases, build and maintain IR strategies, Presentations, and Non-Deal Road Shows.

We design and implement effective oil and gas media campaigns with the goal of raising awareness of and interest in your brand. We can place ads with Network Television, National Print Media, Trade Publications, and on our distribution platform Oil and Gas 360. (www.oilandgas360.com)

Expect the unexpected. With a tailor made Crisis Communications Plan from the professionals at EnerCom, we help put you in control in an uncertain world.

GRAPHIC DESIGN

WEB DEVELOPMENT

Innovative graphic design for websites, advertising, technical illustration, maps, business materials, trade show booths, infograhics, PowerPoint templates and marketing collateral.

Expertise for designing, developing and hosting websites, including content management systems, graphic design, custom applications and content development.

303.296.8834 w w w. e n e r c o m i n c . c o m

USD 250,000,000

Senior Secured Revolving Credit Facility

8.250% Senior Unsecured Notes Due 2025

USD 718,788,000

Co-Syndication Agent

Joint Bookrunner

WILLIAMS PARTNERS LP

USD 210,098,000

7.375% Senior Notes Due 2018 6.000% Senior Notes Due 2018

USD 501,804,000

6.500% Senior Notes Due 2020

USD 545,424,000

6.375% Senior Notes Due 2021 Joint Dealer Manager

MARCH 2017

CARRIZO OIL & GAZ, INC

MAY 2017

USD 1,500,000,000


SABINE PASS LIQUEFACTION LLC

MAY 2017

MCDERMOTT INTERNATIONAL, INC

CHESAPEAKE ENERGY CORPORATION

USD 810,000,000

USD 750,000,000

Senior Secured Credit Facility


Joint Lead Arranger Joint Bookrunner Administrative Agent

Joint Bookrunner

EXTERRAN ENERGY SOLUTIONS, L.P.

FEBRUARY 2017

USD 423,485,000

JUNE 2017

TRANSOCEAN INC Maximum/Capped Waterfall Offer Targeting USD 1,500,000,000

MARCH 2017

CARRIZO OIL&GAS

JUNE 2017

JUNE 2017

PRIVATE OIL & GAS COMPANY

NOBLE ENERGY

USD 375,000,000

Senior Secured Revolving Credit Facility


4.200% Senior Secured Notes Due 2028


Term Loan

Co-Syndication Agent

Joint Bookrunner

Joint Bookrunner

Joint Bookrunnner

Mandated Lead Arranger

WPX ENERGY INC

USD 600,000,000

ANTERO MIDSTREAM PARTNERS LP

USD 650,000,000

PDC ENERGY INC

SOUTHWESTERN ENERGY CORP

JUNE 2016

USD 1,350,000,000

JUNE 2016

USD 1,450,000,000

SEPTEMBER 2016

USD 800,000,000

SEPTEMBER 2016

MAY 2017

JULY 2017

solutions for the Americas

JANUARY 2017

Crédit Agricole Corporate and Investment Bank is authorised by the Autorité de Contrôle Prudentiel et de Résolution (ACPR) and supervised by the European Central Bank (ECB), the ACPR and the Autorité des Marchés Financiers (AMF) in France and subject to limited regulation by the Financial Conduct Authority and the Prudential Regulation Authority. Details about the extent of our regulation by the Financial Conduct Authority and the Prudential Regulation Authority are available from us on request.

energy financing

USD 625,000,000

QEP RESOURCES INC

USD 575,000,000

USD 1,286,000,000

USD 422,000,000

Follow-on Equity

5.375% Senior Unsecured Due 2024

Follow-on Equity

Follow-on Equity

Follow-on Equity

Co-Manager

Joint Bookrunner

Co-Manager

Co-Manager

Co-Manager

Choose a bank internationally recognized for global energy finance. Our sector specialists draw on unrivalled expertise for financing value-creating corporate finance projects, and participating in the development of the real economy. Across all continents, we take an active role in the sustainable development of today’s economy.

www.ca-cib.com

Energy Group 1100 Louisiana, Suite 4750, Houston TX 77002 Tel.: 713-890-8600

The Most Respected Executive and Board Search Firm in Energy Preng & Associates is the world’s leading executive search firm totally dedicated to the energy industry. Over our thirty-seven years, we have assisted nearly 700 management teams and Boards attain exceptional talent who have delivered long-term value. After more than three decades of specializing in energy and natural resources, our consultants: • Completed more than 3,200 search assignments in 64 countries. • Generate more than 80% of our business from repeat clients. • Believe loyalty and experience is invaluable to the executive search process.

Houston Office: 2925 Briarpark Drive Suite 1111 Houston, Texas 77042 Tel: +1 (713) 266-2600

London Office: 42 Brook Street Mayfair London, England W1K 5DB Tel: +44 (0) 20-7958-9445 www.preng.com

INSIGHTS AND SOLUTIONS THAT MEAN BUSINESS Serving the industry since our inception with significant expertise in: • Valuations • Merger and acquisition transaction support • Financial statement audits • State, local, federal and international tax • Joint venture audits and more Hein & Associates is one of the top 100 accounting firms in the nation providing professional services to middle market companies for over 40 years.

www.heincpa.com

Business Intelligence & Advisory Services PLS is an integrated information and advisory firm that provides buyers, sellers & capital providers the tools they need to better manage their portfolio, create new business opportunities and facilitate profitable transactions.

Data & Analytics: • Global News & Research • U.S. Drilling Reports • Proprietary Industry Databases – Deals For Sale – M&A Metrics & Comparables – Capitalize, Energy Finance – PetroScout, The E&P Database – docFinder – PetroWire, Projects, News Abstracts – QuickDecline

Marketing & Consulting: • • • • •

Global Divestment Services Virtual Data Rooms Prospect & Property Expos Branding & Marketing Solutions Technical Engineering Services

For more details call +1 713-650-1212 or visit www.plsx.com

Hire Us!

Call +1 713-650-1212 or visit www.plsx.com

GET TO KNOW PNC

PNC ENERGY GROUP For more than 160 years, PNC has navigated a steady course while growing in size, sophistication and service. Today, we’re one of the largest, best-regarded and best-capitalized financial services companies in the country. We’ve added thousands of corporate clients in the last few years and are expanding our geographic franchise with offices in 35 states, the United Kingdom and Canada. ENERGY LEADERSHIP • A significant capital and service provider to energy companies in all industry sectors • Energy office in Houston, Texas • Experienced team of professionals with extensive experience across the entire energy supply chain

LEADING CORPORATE BANKING CAPABILITIES • Corporate, Reserve-Based, Acquisition and Bridge Financing − More than $8 billion in commitments to the energy industry as of 12/31/16 • Debt Capital Markets − During 2016, PNC Loan Syndications was Lead Arranger and Bookrunner on 297 transactions totaling $39.5 billion − PNC Corporate Securities was active in 452 securities issuances in 2016, raising more than $297 billion • Commodity/Interest Rate Derivatives − Customized OTC hedging solutions to meet specific client needs − Products: Crude oil and natural gas swaps/options, LIBOR-based swaps/options, Treasury locks, cross-currency swaps • Equipment Finance − Fourth-largest bank-owned equipment finance company in the U.S. (Monitor Daily, 2016) • Treasury Management − Top 5 treasury management providers in the country with 32,000 Corporate & Institutional Banking clients; consistently received top ratings for service and technology (Ernst & Young, 2016) − #1 Overall Customer Satisfaction (Greenwich Associates’ Large Corporate Treasury Management Study, 2009–2016) • Asset Securitization − Customized solutions, with more than 100 securitizations totaling $15 billion − #1 bank for receivables securitization bank by new deal volume − Unmatched structural expertise and experience across the energy value chain

• PNC Institutional Asset Management∑ − PNC Institutional Asset Management guides institutional clients through a variety of investment solutions to meet their organization’s strategic needs. • PNC Capital Advisors, LLC. A Registered Investment Advisor (RIA) offering specialized investment capabilities and customized approaches through taxable and tax-exempt fixed income, and equity strategies • PNC Retirement Solutions®. 401(k) plan administration, participant education, and 3(21)/3(38) fiduciary services focusing on mitigating corporate fiduciary risk • PNC Institutional Advisory Solutions∑. Office of the Chief Information Officer (OCIC), custodial, and financial planning services for defined benefit plans, corporations, and foundations utilizing dynamic asset allocation models and liability-driving investment strategies through an open architecture investment platform • Solebury Capital LLC − Solebury Capital is a global advisory firm and registered brokerdealer exclusively focused on equity capital markets advisory. Senior team members are exclusively equity underwriting specialists with collectively over 165 years of capital markets transaction experience and relationships forged at the leading investment banking houses around the world. • Initial Public Offering. Registered Investment Advisor (RIA) offering specialized investment capabilities and customized approaches through taxable and tax-exempt fixed income, and equity strategies • Marketed Follow On. Seasoned judgment and market knowledge helps issuers access the capital markets efficiently and effectively with minimal disruption for stakeholders • Block Trade. Solebury’s trusted confidential practice unlocks efficient market access by leveraging our active deal flow, proprietary data, analytics and market insights

CONTACTS Tom Byargeon — Head of Energy [email protected] | 713-658-3940 Sandra Aultman — Managing Director – Upstream [email protected] | 713-658-3935 Colin Warman — Managing Director – Midstream [email protected] | 412-316-6170 Jonathan Luchansky — Director – Upstream [email protected] | 713-658-3939 Denise Davis — Vice President – Upstream [email protected] | 713-658-3934

Ready to Help At PNC, we combine a wider range of financial resources with a deeper understanding of your business to help you achieve your goals. To learn more about how we can bring ideas, insight and solutions to you, please contact your PNC Relationship Manager or visit pnc.com/ideas.

Bank of America Merrill Lynch is proud to support The Oil & Gas Conference. bofaml.com

General disclaimer for Bank of America Merrill Lynch, visit baml.com/disclaimer. ©2017 Bank of America Corporation. GBAM-103-AD ARHPBW6S

CONFIDENCE EARNED. M&A Advisory

Advising Veresen on the acquisition by

Advised on the divestiture of Athabasca Oil Sands Project and heavy oil assets to

Advised on the joint acquisition of 20% interest in the Athabasca Oil Sands Project from

Advised on the divestiture of Eagle Ford Assets to

Advised on the divestiture of Eagle Ford Shale and South Texas assets to

C$9,700,000,000

C$11,100,000,000

$2,500,000,000

$800,000,000

$390,000,000

$525,000,000

Exclusive Financial Advisor

Financial Advisor

Financial Advisor

Exclusive Financial Advisor

Financial Advisor

Lead Financial Advisor

Pending

May 2017

May 2017

March 2017

September 2016

August 2016

Advised on the acquisition of

and Undisclosed

Capital Markets

5.5 Year, 10 Year & 27 Year Notes

3 Year, 9.5 Year & 30 Year Notes

Secured Notes

IPO – Restricted Voting Shares

Floating Rate Notes

Senior Notes

C$1,200,000,000

C$1,800,000,000

$1,500,000,000

C$1,750,014,000

$600,000,000

$300,000,000

Joint Lead & Bookrunner

Joint Lead & Bookrunner

Joint Bookrunner

Co-Bookrunner

Joint Bookrunner

Joint Bookrunner

June 2017

May 2017

May 2017

May 2017

April 2017

March 2017

Secured Notes

41,400,000 Common Shares

74,750,000 Common Shares

$717,025,000

Common Shares

Common Shares

$1,350,000,000

$1,283,400,000

$2,167,750,000

$600,000,000

$1,005,675,000

$215,050,000

Joint Bookrunner

Joint Bookrunner

Joint Bookrunner

Joint Bookrunner

Joint Lead Manager

Joint Bookrunner

February 2017

February 2017

January 2017

December 2016

October 2016

April 2016

Sabine Pass Liquefaction, LLC

Common Shares Senior Notes

For 185 years, Scotiabank has worked with clients through market cycles to create individually customized solutions to deliver on their business objectives. Our stability rests on a well-diversified business, deep client relationships, a strong balance sheet and an exceptional client-centric risk management culture. Scotiabank’s sophisticated Energy platform fully integrates equity, debt, corporate lending, M&A, commodity inventory finance, hedging and capital markets solutions for energy and energy infrastructure companies throughout North America and beyond. We build strong relationships to help drive your business forward. Let us show you how.

gbm.scotiabank.com/energy

GLOBAL BANKING AND MARKETS

ADVICE • RISK MANAGEMENT • TRADING • FINANCING • RESEARCH • TRANSACTION BANKING ™ Trademark of The Bank of Nova Scotia. Used under license, where applicable. Scotiabank is a marketing name for the global corporate and investment banking and capital markets businesses of The Bank of Nova Scotia and certain of its affiliates in the countries where they operate, including Scotia Capital Inc. and Scotia Capital (USA) Inc., which are non-bank affiliates of The Bank of Nova Scotia and authorized users of the mark. Scotia Capital Inc. is a member of the Canadian Investor Protection Fund. Scotia Capital (USA) Inc. is a broker-dealer registered with the SEC and a member of FINRA, NYSE and NFA. Not all products and services are offered in all jurisdictions. Services described are available only in jurisdictions where permitted by law.

ARE YOU MAXIMIZING YOUR OPPORTUNITIES WHEN EVERY DOLLAR COUNTS? From headquarters to field offices, a commercial real estate portfolio strategy is imperative to maximizing operational and financial efficiency. How do we expand into emerging markets? How can real estate sale proceeds impact pre-acquistion capital stack?

Are we missing out on tax incentives?

Should we lease or own?

Can we reduce our footprint? Should we consolidate locations?

Is there an arbitrage opportunity within any of the owned real estate assets?

Is our building managed efficiently?

How will a real estate transaction impact post acquisition EBITDA?

The only commercial real estate firm with energy practice leaders positioned in every major energy capital of the world, the CBRE Energy Facilities Group provides counsel, qualitative and quantitative analysis, and exceptional execution capabilities to drive value for companies engaged in the oil and gas industry.

Is our rental rate above market?

ANTHONY ALBANESE First Vice President Energy Facilities Group 303 628 1758 [email protected]

VINCENT POLCE Vice President Corporate Capital Markets 303 628 1723 [email protected]

ENERGY FACILITIES GROUP www.cbre.com/energyfacilitiesgroup

Capital to help you transform your goals into reality

We’ll work with you to provide capital and industry expertise. With specialists dedicated to the oil and gas industry, the Wells Fargo Energy Group can provide the financing you need to turn your goals into reality. As one of the largest capital providers to the energy industry and more than 30 years of experience, we can help your business grow. To find out more, contact us today: [email protected]

wellsfargo.com © 2017 Wells Fargo Bank, N.A. All rights reserved. Member FDIC. PDS-966166

BANKING AND FINANCING TAILORED FOR THE ENERGY INDUSTRY Kelton Glasscock Senior Vice President Head of Energy Americas Tel: 831-214-5803 [email protected]

Byron Cooley Senior Vice President Tel: 832-214-5812 [email protected]

Rob Dupree Senior Vice President Tel: 832-214-5804 [email protected]

DNB Bank - Energy Americas 333 Clay Street, Suite 3950, Houston, TX 77002 www.dnb.no

Industry knowledge. Financial strength. At CIBC Capital Markets we’re focused on your financing, trading and advisory needs. Corporate Banking

$1.0 Billion

Undisclosed

$2.0 Billion

$1.5 Billion

$2.5 Billion

Revolving Credit Facility





CIBC World Markets Corp. is a lender





June 2017

June 2017

May 2017

May 2017

April 2017

CIBC Griffis & Small Advisory Large–Cap Public Co. TBD

TBD

$72 Million

Undisclosed

Undisclosed

is currently marketing certain San Juan Basin assets

is currently marketing certain CO2 assets

has sold its interest in the Salt Creek CO2 flood

has acquired certain South Texas assets

has sold certain Barnett assets

CIBC Griffis & Small is acting as Financial & Technical Advisor





In Process

In Process

May 2017

January 2017

November 2016

TBD

TBD

$207 Million

C$100 Million

$400 Million

Strategic Alternatives

Initial Public Offering

Follow-on Equity Offering

Initial Public Offering

Senior Notes Offering

CIBC World Markets Inc. is acting as Financial Advisor

CIBC World Markets Corp. is acting as Co-Manager

CIBC World Markets Corp. acted as Co-Manager

CIBC World Markets Inc. acted as Joint Bookrunner

CIBC World Markets Corp. acted as Co-Manager

In Process

In Process

July 2017

May 2017

October 2016

Global Investment Banking

Let us show you the value of our energy capabilities today. CIBC Griffis & Small

CIBC Capital Markets

Joe Small

Trudy Nelson

Jordan Horoschak

Michael Kim

Peter Carpenter

A&D Advisory

Corporate Banking

Global Investment Banking

Debt Capital Markets

Commodities Trading

[email protected]

[email protected] [email protected] [email protected] [email protected]

713 452-1599

713 210-4103

713 452-1593

212 856-3698

212 885-4504

CIBC Capital Markets is a trademark brand name under which different legal entities provide different services under this umbrella brand. Products and/or services offered through CIBC Capital Markets include products and/or services offered by the Canadian Imperial Bank of Commerce and various subsidiaries. In the United States, CIBC World Markets Corp. is a member of the Financial Industry Regulatory Authority and the Securities Investor Protection Fund. CIBC Capital Markets and the CIBC Cube Design are trademarks of CIBC, used under license by CIBC World Markets Inc.

energy specialists with the

lending power you need Oil & Gas Upstream | Midstream | Oilfield Services We provide financing for companies in the upstream and midstream sectors of the oil & gas industry to fund field development, acquisitions, working capital or infrastructure projects. The typical loan size for single lender credits is $5 - $35 million, and loan syndications are available for larger loan amounts up to $100 million. Our focus is on public and private energy companies in North America, primarily in Texas, the Gulf Coast, Mid-Continent, Appalachian and Mountain States.

Mike Turner

Keith Miller

Jake Munn

Area President Houston 713-405-1570

Senior Energy Lender Houston 713-405-1572

SVP, Market Manager Houston 713-405-1568

mutualofomahabank.com AFN45488_0717

Equal Housing Lender | Member FDIC

Using its proprietary physics-based™ predictive analytics, BetaZi computes unbiased, accurate, automatic production forecasts with calibrated uncertainty. At 30 seconds per well, due diligence just got super powerful.

BetaZi has the best production forecasts in the world, bar none.

Need an ally in the energy sector? Tap into this resource Energy is a precious commodity, so working with the right financial professionals is paramount. Our knowledge of the energy sector runs deep, whether your priority is upstream, midstream or downstream. Collectively, we have more than 100 years of industry experience in our energy group, including a technical team for value-added insight. Look to Fifth Third Bank for lending, commodity & interest rate hedging, foreign exchange, equipment financing/leasing, debt capital markets, syndication capabilities, purchasing card, treasury management, trust & escrow services.

To Tap inTo our wealTh of knowledge, please conTacT Richard C. Butler, Senior Vice President 713.401.6101 or [email protected] We look forward to working with you in your energy sector pursuits.

www.53.com/commercial Lending is subject to credit review and approval. Deposit and credit products provided by Fifth Third Bank. Member FDIC.

After 30 years in oil and gas, we know the drill

You don’t have to dig deep to learn what oil and gas companies need most from a bank: experience. At MUFG (Mitsubishi UFJ Financial Group), we have banked the oil and gas industry for three decades; MUFG consistently ranks among the top 10 lead arrangers in the Thomson Reuters league tables.1 Our bankers have long track records in this field. They understand your challenges, opportunities, and need for flawless implementation—whether it’s leading large syndicated transactions, accessing the capital markets, or designing efficient treasury solutions to optimize your working capital. MUFG is one of the world’s leading financial groups, and its global network encompasses 2,200 offices in nearly 50 countries. With our wide range of product solutions in capital markets, advisory, banking, and treasury services, we’re ready to support your business— wherever it takes you. To learn more, call one of our specialists listed below. We think you’ll like the experience. mufgamericas.com/oilandgas

MUFG Union Bank, N.A. MUFG Securities Americas Inc. The Bank of Tokyo-Mitsubishi UFJ, Ltd. Members of MUFG, a global financial group

Oil & Gas Banking2

Loan Syndications

Oil & Gas Treasury Services

Oil & Gas Capital Markets

Jamie Conn Managing Director, Group Head 713-655-3814

J. Richard Cook Managing Director 212-782-4321

Casey Pazoki Director 214-922-4215

Investment Grade Debt Andrew Wenner Managing Director 212-405-7410

Equity Jason Demark Executive Director 212-405-7340

Leveraged Finance Timothy Dilworth Managing Director 212-782-4049

Kerry Esmay Director 212-405-7413

Steve Studnicky Director 212-405-7358

Mike D’Ecclesiis Director 212-405-7412

Frank Ferrara Managing Director 212-405-6615

Financing subject to credit and collateral approval. Other restrictions may apply. Terms and conditions subject to change. As of Q2 2016, Q3 2015, Q2 2015, Q4 2014, and Q4 2013. 2 MUFG Union Bank, N.A., does not accept deposits in Canada and is not a member institution of the Canada Deposit Insurance Corporation. ©2017 Mitsubishi UFJ Financial Group, Inc. All rights reserved. The MUFG logo and name is a service mark of Mitsubishi UFJ Financial Group, Inc., and is used by MUFG Union Bank, N.A., and The Bank of Tokyo-Mitsubishi UFJ, Ltd., with permission. MUFG Union Bank, N.A., is a member FDIC, and its banking products are insured up to applicable FDIC insurance limits. The Bank of Tokyo-Mitsubishi UFJ, Ltd., is not a member of the FDIC and its products ARE NOT insured by the FDIC or other government agency. 1

Petrie-Ad_EnerCom-2017.pdf

1

7/31/17

6:16 PM

Noble Vision. Expert Advice. “The Petrie team helps us accomplish important strategic goals with their invaluable insights and knack for getting deals done.” — David L. Stover, Chairman, President & CEO, Noble Energy, Inc.

Petrie Partners is proud to have advised Noble Energy on its last two corporate transactions, representing more than $7 billion in consideration. The acquisitions of Rosetta Resources and Clayton Williams Energy continue to strengthen our client’s position as a premier operator of U.S. onshore unconventional assets. At Petrie, we value our trusted advisor relationship with Noble and other energy industry leaders. Time and again, clients depend on us for expert insight into their highest-priority transactions—and our unparalleled ability to execute them. Houston 713.659.0760 | Denver 303.953.6768

petrie.com

Investment Banking

Stifel Investment Banking provides strategic advisory services to our clients in North America, Europe, Asia, and Latin America that include initiating, structuring, and negotiating mergers, acquisitions, and divestitures as well as providing fairness opinions, valuation, and restructuring services. We raise public and private debt and equity for our clients through our institutional and retail brokerage network. Stifel also has dedicated financial sponsors and a venture capital effort, maintaining regular dialogue and deal flow with private equity firms focused on Stifel’s core industry groups. Stifel clients are served in the United States through Stifel, Nicolaus & Company, Incorporated; Keefe, Bruyette & Woods, Inc.; Miller Buckfire & Co., LLC; and Eaton Partners, LLC, and in the United Kingdom and Europe through Stifel Nicolaus Europe Limited. The combination of a fullservice product offering and over 400 bankers’ deep domain and product expertise allows us to provide solutions that meet the evolving needs of our clients.

Premier Investment Bank The Stifel Difference • Full-service investment bank with broad product and industry coverage • #1 in Equity Deals Under $1 Billion Market Cap(1) • #2 in all Managed Venture CapitalBacked IPOs(2) • #1 among Middle Market Firms in M&A Transactions Under $1 Billion (1)

Dealogic. Rank-eligible SEC registered IPOs and follow-on offerings since 2010 as of 6/30/17.

(2)

Dealogic. Venture-backed IPOs since 2005 as of 6/30/17.

(3)

M&A Analytics as of July 2017.

Deep Domain Experience Consumer & Retail Diversified Industries Aerospace, Defense & Government Services Business Services Clean Technology Diversified Industrials Maritime Plastics, Packaging & Paper Transportation & Logistics Energy & Natural Resources Financial Institutions Gaming, Lodging & Leisure Healthcare Biotech Devices

Service Offerings

Diagnostics & Tools

Debt Capital Raising

Information Technology

Equity and Convertible Capital Raising

Services

Financial Sponsors & Venture Capital Coverage

Real Estate Technology Communications Technology

International Coverage

Electronics & Applied Technologies

Mergers & Acquisitions/ Strategic Advisory

Financial Technology

Restructuring

Internet & Digital Media Software & Software as a Service (SaaS) Tech-Enabled Services

Stifel, Nicolaus & Company, Incorporated | Member SIPC & NYSE | www.stifel.com

Contact Us: For more information regarding Stifel Investment Banking, please contact us at [email protected]. Dollar volume represents full credit to each underwriter. All transaction announcemtns appear as a matter of record only. Stifel collectively refers to Stifel, Nicholas & Company, Incorporated and other affiliated broker-dealer subsidiaries of Stifel Financial Corp.

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128

%

YEAR OVER YEAR UNIQUE VISITOR GROWTH

Subscribe to

122

%

YEAR OVER YEAR PAGE VIEW GROWTH

1.5M PAGE VIEWS PAST 12 MONTHS

Closing Bell Report WWW.OILANDGAS360.COM

3

1 2

Large Cap

5

5

5 5

APA APC AR CLR CNQ CN COG COP CPG CN CXO DVN ECA EGN EOG EQT FANG HES MRO NBL NFX OXY PE PXD RICE RRC RSPP TOU CN VET CN XEC

3

Apache Corp Anadarko Petroleum Corp Antero Resources Corp Continental Resources Inc/OK Canadian Natural Resources Ltd Cabot Oil & Gas Corp ConocoPhillips Crescent Point Energy Corp Concho Resources Inc Devon Energy Corp Encana Corp Energen Corp EOG Resources Inc EQT Corp Diamondback Energy Inc Hess Corp Marathon Oil Corp Noble Energy Inc Newfield Exploration Co Occidental Petroleum Corp Parsley Energy Inc Pioneer Natural Resources Co Rice Energy Inc Range Resources Corp RSP Permian Inc Tourmaline Oil Corp Vermilion Energy Inc Cimarex Energy Co

EnerCom E&P Weekly 4 8 9 July 28,4 2017 5

5 5

5

11 5 5

5

5 5 5 5 5

5

AAV CN BIR CN BSM CHK CPE CRZO ERF CN GPOR HK JAG KEL CN LPI MEG CN MTDR MUR NVA CN OAS PDCE PEY CN POU CN PXT CN QEP RRX CN SM SPE CN SRCI SWN TOG CN WLL WPX WRD

Advantage Oil & Gas Ltd Birchcliff Energy Ltd Black Stone Minerals LP Chesapeake Energy Corp Callon Petroleum Co Carrizo Oil & Gas Inc Enerplus Corp Gulfport Energy Corp Halcon Resources Corp Jagged Peak Energy Inc Kelt Exploration Ltd Laredo Petroleum Inc MEG Energy Corp Matador Resources Co Murphy Oil Corp NuVista Energy Ltd Oasis Petroleum Inc PDC Energy Inc Peyto Exploration & Development Corp Paramount Resources Ltd Parex Resources Inc QEP Resources Inc Raging River Exploration Inc SM Energy Co Spartan Energy Corp SRC Energy Inc Southwestern Energy Co TORC Oil & Gas Ltd Whiting Petroleum Corp WPX Energy Inc WildHorse Resource Development Corp

40

7

8

Share

Shares

Market

Daily Value

Price

O/S

Cap

Traded

7/28/2017

(MM)

($MM)

($MM)

$50.01 $46.32 $21.10 $33.52 $38.49 $25.50 $45.26 $9.90 $130.56 $33.21 $10.16 $54.02 $95.42 $66.10 $96.65 $44.80 $12.36 $29.00 $28.66 $62.73 $29.47 $161.41 $28.90 $21.87 $34.71 $28.10 $41.79 $98.34

380.4 560.4 315.4 375.2 1215.0 462.5 1216.9 545.0 148.4 525.7 973.1 97.2 577.4 173.3 98.1 317.9 850.0 486.4 199.3 764.6 246.5 170.1 206.5 248.1 158.6 269.8 120.9 95.1

Average Median Mid Cap

10

6

$8.76 $6.37 $16.69 $5.06 $11.55 $16.11 $11.36 $13.70 $6.67 $14.36 $6.72 $13.04 $5.37 $24.74 $27.14 $6.59 $7.99 $47.51 $22.77 $19.99 $15.63 $8.34 $8.12 $18.08 $6.50 $8.51 $5.93 $5.61 $5.33 $10.87 $13.21

Average Median

Footnotes to the tables and glossary of terms can be found beginning on page 45.

185.1 265.4 97.7 908.1 201.1 81.4 242.1 182.8 150.1 212.9 176.0 242.5 294.0 100.2 172.5 173.2 237.4 65.9 164.9 106.2 154.4 240.6 231.2 111.3 175.6 200.8 505.9 187.4 362.8 397.6 94.0

3 Mo Avg Daily

41

Short

Trading Vol Interest (000's)

12.0

13

14

10

11

12

9

Ratio

1Q 2017

1Q 2017

Debt

Cash

EV

($MM)

($MM)

($MM)

$19,026 $25,956 $6,656 $12,576 $46,764 $11,794 $55,079 $5,395 $19,378 $17,458 $9,887 $5,250 $55,100 $11,457 $9,484 $14,242 $10,506 $14,106 $5,712 $47,962 $7,264 $27,455 $5,967 $5,427 $5,505 $7,581 $5,054 $9,353

$200 $273 $54 $104 $124 $212 $490 $48 $173 $145 $154 $60 $285 $299 $88 $224 $199 $172 $90 $250 $161 $271 $248 $110 $33 $10 $23 $83

3,600 5,765 3,462 3,492 4,550 6,416 8,145 4,771 1,337 5,440 12,688 1,649 3,361 3,857 1,441 4,250 14,751 6,187 3,307 4,754 4,351 1,625 6,968 5,597 2,418 992 742 1,211

8.9 2.6 10.3 6.1 1.4 4.2 4.7 1.8 4.7 1.9 1.6 3.3 3.8 5.6 4.3 7.2 3.5 3.1 3.5 3.4 3.4 4.3 0.8 5.3 4.4 20.1 1.9 1.7

$8,477 $15,326 $4,775 $6,510 $16,304 $1,521 $26,435 $4,183 $2,741 $10,381 $4,243 $545 $6,987 $3,291 $986 $6,785 $7,264 $7,061 $2,432 $9,822 $1,493 $2,729 $1,543 $3,739 $1,132 $1,358 $1,286 $1,489

$1,521 $5,831 $0 $17 $19 $537 $3,109 $86 $771 $2,119 $523 $89 $1,547 $899 $37 $2,686 $2,490 $787 $469 $1,494 $1,917 $663 $431 $1 $54 $0 $1 $579

$27,420 $38,674 $12,047 $19,070 $63,057 $12,777 $78,653 $9,502 $21,348 $30,176 $13,607 $5,706 $60,540 $17,140 $10,900 $20,001 $15,280 $20,697 $7,675 $56,290 $7,325 $29,528 $9,436 $9,165 $6,583 $8,980 $6,384 $10,263

$17,050 $10,981

$164 $158

4,540 4,054

4.6 3.7

$5,744 $3,961

$1,024 $558

$22,437 $14,443

$1,622 $1,691 $1,631 $4,595 $2,322 $1,312 $2,751 $2,505 $1,001 $3,058 $1,183 $3,162 $1,579 $2,479 $4,683 $1,142 $1,897 $3,130 $3,754 $2,123 $2,413 $2,006 $1,878 $2,012 $1,141 $1,709 $3,000 $1,051 $1,934 $4,322 $1,242

$7 $10 $1 $211 $40 $57 $15 $45 $23 $12 $5 $53 $24 $24 $156 $6 $79 $36 $15 $11 $8 $102 $6 $91 $9 $20 $123 $5 $180 $64 $4

1,011 1,669 197 36,441 4,556 3,135 2,068 3,978 3,524 733 1,504 4,384 3,272 2,040 3,775 1,008 9,892 1,264 871 612 564 5,400 1,435 4,270 1,861 2,885 19,626 1,707 21,555 8,560 570

3.7 5.2 4.5 7.3 11.7 2.4 6.3 2.7 1.2 9.8 19.8 9.7 11.7 12.7 12.1 10.3 4.8 5.7 4.2 4.0 21.8 2.1 3.6 4.9 4.8 17.9 3.1 3.4 3.6 5.2 20.7

$148 $579 $388 $9,524 $391 $1,362 $744 $1,632 $941 $0 $111 $1,350 $4,961 $574 $2,997 $128 $2,306 $1,050 $1,135 $0 $11 $2,022 $178 $2,899 $234 $76 $4,630 $218 $3,168 $2,575 $339

$0 $0 $14 $249 $35 $2 $4 $102 $62 $199 $0 $30 $549 $210 $876 $0 $14 $208 $0 $529 $185 $338 $0 $659 $0 $33 $1,382 $0 $16 $142 $93

$1,769 $2,312 $2,060 $15,797 $2,750 $2,672 $3,505 $4,035 $1,880 $2,859 $1,310 $4,481 $6,011 $2,906 $6,804 $1,293 $4,189 $3,972 $4,913 $1,622 $2,270 $3,690 $2,091 $4,251 $1,412 $1,752 $7,973 $1,311 $5,093 $6,987 $1,487

$2,269 $2,006

$47 $23

4,980 2,068

7.8 5.2

$1,505 $744

$191 $35

$3,724 $2,859

Source: EnerCom, Company filings, Bloomberg L.P.

25

3

1 2

3

4

8

9

4 5 6 EnerCom E&P Weekly

10

40

7

8

41

12.0

13

14

10

11

12

9

July 28, 2017

Small Cap

5,6 5 5 5 5

7 7,12 5

8 5 5

5 5

Micro Cap 5 5 5 5

5 9,10 5

5 5 5

5 5 5 9,10 5 7,10

AREX AXAS BBG BBI CN BCEI BNE CN BNP CN BTE CN CR CN CRC DNR ECR EPE EPM ERN EXXI GTE LXE CN MPO PGH PHX PONY CN PVAC PXX CN REN SBOW SGY SN SN TET CN TVE CN UNT WTI

Approach Resources Inc Abraxas Petroleum Corp Bill Barrett Corp Blackbird Energy Inc Bonanza Creek Energy Inc Bonterra Energy Corp Bonavista Energy Corp Baytex Energy Corp Crew Energy Inc California Resources Corp Denbury Resources Inc Eclipse Resources Corp EP Energy Corp Evolution Petroleum Corp Erin Energy Corp Energy XXI Ltd Gran Tierra Energy Inc Leucrotta Exploration Inc Midstates Petroleum Co Inc Pengrowth Energy Corp Panhandle Oil and Gas Inc Painted Pony Energy Ltd Penn Virginia Corp BlackPearl Resources Inc Resolute Energy Corp SilverBow Resources Inc Stone Energy Corp Sanchez Energy Corp Sanchez Energy Corp Trilogy Energy Corp Tamarack Valley Energy Ltd Unit Corp W&T Offshore Inc

Share

Shares

Market

Daily Value

Price

O/S

Cap

Traded

7/28/2017

(MM)

($MM)

($MM)

$3.06 $1.80 $3.57 $0.36 $28.56 $17.04 $3.24 $3.53 $4.18 $8.40 $1.50 $2.84 $3.68 $8.35 $1.85 $19.44 $2.38 $1.85 $13.67 $0.78 $22.65 $4.86 $38.10 $1.01 $34.97 $25.12 $21.69 $5.57 $5.57 $5.30 $2.40 $18.51 $1.99

Average Median BXE CN CKE CN CQE CN CRK DEE CN EGY ESTE GDP GST GXO CN HUSA IOG AU IPO CN JONE LGCY LLEX LONE MCF MEI CN NOG PMT CN PNE CN PQ PRHR PRQ CN PSH CN REXX RMP CN SNDE SNMP SOG CN SSN TGA USEG XCO YUMA

Bellatrix Exploration Ltd Chinook Energy Inc Cequence Energy Ltd Comstock Resources Inc Delphi Energy Corp VAALCO Energy Inc Earthstone Energy Inc Goodrich Petroleum Corp Gastar Exploration Inc Granite Oil Corp Houston American Energy Corp Incremental Oil & Gas Ltd InPlay Oil Corp Jones Energy Inc Legacy Reserves LP Lilis Energy Inc Lonestar Resources US Inc Contango Oil & Gas Co Manitok Energy Inc Northern Oil and Gas Inc Perpetual Energy Inc Pine Cliff Energy Ltd PetroQuest Energy Inc PetroShare Corp Petrus Resources Ltd Petroshale Inc Rex Energy Corp RMP Energy Inc Sundance Energy Australia Ltd Sanchez Midstream Partners LP Strategic Oil & Gas Ltd Samson Oil & Gas Ltd TransGlobe Energy Corp US Energy Corp Wyoming EXCO Resources Inc Yuma Energy Inc

$3.17 $0.35 $0.18 $7.36 $1.24 $0.94 $10.27 $12.86 $0.89 $4.67 $0.52 $0.02 $1.58 $1.50 $1.32 $4.59 $3.91 $6.25 $0.10 $1.30 $1.48 $0.70 $2.24 $1.65 $2.15 $1.30 $2.91 $0.64 $5.53 $11.65 $2.25 $0.46 $1.38 $0.72 $2.04 $2.10

Average Median


26

86.3 163.9 76.3 745.4 20.3 33.3 250.3 234.2 149.8 42.6 398.3 262.6 255.0 33.1 213.4 33.2 390.8 200.5 25.1 552.2 16.7 161.0 15.0 336.3 22.4 11.5 20.0 82.3 82.3 105.3 227.7 52.8 137.7

49.6 216.6 245.5 15.4 185.4 58.6 22.8 9.1 211.9 33.7 51.3 202.2 62.3 65.5 72.6 50.4 21.8 25.6 319.7 63.3 59.5 307.1 21.2 22.6 49.4 150.2 9.9 151.0 12.5 14.3 46.4 16.4 72.2 6.1 18.9 12.2

3 Mo Avg Daily

Short

Trading Vol Interest (000's)

Ratio

1Q 2017

1Q 2017

Debt

Cash

EV

($MM)

($MM)

($MM)

$264 $295 $272 $265 $581 $567 $811 $827 $626 $358 $598 $746 $938 $276 $395 $646 $930 $371 $343 $432 $378 $782 $571 $340 $785 $288 $434 $459 $459 $558 $545 $978 $274

$1 $2 $5 $0 $3 $1 $8 $29 $2 $12 $7 $2 $2 $1 $0 $2 $4 $1 $5 $0 $1 $4 $3 $0 $22 $0 $5 $17 $17 $4 $1 $10 $2

912 1,350 1,984 1,689 255 209 1,468 5,787 1,528 2,168 6,164 1,098 813 108 91 216 1,484 252 143 742 32 852 84 185 796 37 271 4,007 4,007 406 1,406 656 1,581

13.8 2.1 8.9 1.0 2.0 8.4 3.1 1.5 12.5 7.4 12.8 4.4 21.2 6.4 12.7 11.3 4.5 0.5 4.6 33.0 12.8 9.0 7.4 0.3 6.3 9.5 4.4 9.6 9.6 0.5 6.8 11.0 6.0

$358 $22 $713 $0 $1,065 $439 $922 $1,814 $293 $5,121 $3,040 $493 $3,864 $0 $236 $78 $193 $0 $128 $1,190 $44 $594 $30 $0 $414 $172 $236 $1,882 $1,882 $551 $135 $794 $1,019

$0 $1 $266 $80 $92 $0 $91 $3 $23 $50 $2 $160 $35 $20 $9 $160 $27 $14 $84 $0 $1 $0 $3 $10 $1 $0 $180 $125 $125 $0 $0 $8 $126

$622 $316 $719 $185 $1,554 $1,009 $1,645 $2,642 $907 $5,477 $3,636 $1,078 $4,767 $256 $623 $563 $1,097 $357 $386 $1,647 $421 $1,405 $598 $362 $1,198 $460 $490 $2,716 $2,716 $1,149 $724 $1,764 $1,167

$527 $459

$5 $2

1,296 813

8.0 7.4

$840 $414

$51 $14

$1,353 $1,009

$157 $76 $44 $113 $230 $55 $234 $117 $188 $157 $27 $5 $98 $98 $96 $231 $85 $160 $30 $82 $88 $215 $48 $37 $106 $195 $29 $97 $69 $166 $104 $8 $100 $4 $39 $26

$0 $0 $0 $2 $0 $0 $1 $0 $1 $0 $1 $0 $0 $1 $0 $0 $0 $1 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $1 $0

161 282 145 268 248 157 89 26 2,103 90 1,180 55 41 1,048 177 308 72 114 387 891 45 300 80 1 23 104 158 252 6 46 6 54 67 49 548 336

17.9 0.7 0.1 18.3 49.3 4.8 11.2 3.8 13.6 5.8 1.5 NA 1.5 31.3 8.2 17.9 2.2 5.4 0.0 12.4 0.9 22.8 10.8 0.2 0.2 NA 13.8 2.7 0.3 1.4 NA 0.7 4.0 12.0 5.9 0.1

$402 $0 $59 $1,051 $32 $15 $14 $49 $365 $28 $0 $8 $36 $702 $1,148 $36 $214 $60 $73 $823 $93 $55 $269 $13 $235 $125 $762 $21 $0 $159 $89 $34 $89 $6 $1,193 $40

$0 $22 $12 $30 $0 $24 $10 $38 $65 $0 $0 $1 $0 $9 $2 $20 $4 $0 $0 $6 $38 $0 $28 $2 $1 $2 $5 $0 $17 $2 $42 $3 $21 $2 $32 $3

$565 $60 $101 $1,134 $275 $46 $238 $128 $643 $200 $26 $12 $134 $1,331 $1,480 $270 $296 $220 $125 $900 $169 $296 $289 $48 $340 $318 $826 $152 $52 $666 $187 $39 $207 $11 $1,199 $63

$100 $96

$0 $0

275 129

8.5 4.8

$230 $59

$12 $3

$362 $213


3

15

16

EnerCom E&P13Weekly 3 14

1 2

18

36

19

20.0

15

16

17

18

July 28, 2017

Large Cap

5

5

5 5

Mid Cap 5 5

5

11 5 5

5

5 5 5 5 5

5




TTM

1Q 2017

TTM

Prod

Prod

(MBoe/d)

(MBoe)

Change in Prod(1)(%)

2016 Proved

2017E Prod(2)

Reserves

Reserve Life

(Mboe/d)

(MMBoe)

(Years)

588 992 393 427 952 364 1,966 187 311 751 432 72 1,122 433 92 400 487 515 197 775 84 296 191 337 342 193 60 205

43,300 71,535 32,088 19,238 74,234 28,345 143,370 13,400 16,324 50,670 28,611 4,752 51,363 31,656 5,545 27,990 30,060 34,380 12,981 52,560 4,931 22,399 19,090 28,978 31,122 19,693 5,449 15,947

-10% -5% 20% -8% 0% 6% 0% -4% 29% -19% -18% -15% 3% 6% 59% -12% -16% -9% -13% -11% 86% 11% 86% 38% -4% 14% -1% 8%

480 679 384 233 968 317 1,348 175 190 554 315 70 598 389 75 311 352 391 154 610 70 273 226 342 56 246 69 188

1,311 1,722 2,564 1,275 5,713 1,429 6,425 600 720 2,059 790 316 2,147 2,251 205 1,109 2,096 1,437 513 2,406 222 726 668 2,012 889 859 161 482

6.1 4.8 17.9 8.2 16.4 10.8 9.0 8.8 6.3 7.5 5.0 12.0 5.2 14.2 6.1 7.6 11.8 7.6 7.1 8.5 7.2 6.7 9.6 16.4 7.1 12.2 7.3 6.4

Average Median

470 378

32,857 28,478

8% 0%

359 313

1,539 1,192

9.1 7.6


42 61 33 770 20 54 98 155 38 7 19 63 79 36 217 24 66 79 94 29 28 189 22 185 12 10 493 17 250 107 15

3,455 5,091 3,204 48,000 1,836 4,173 6,270 12,744 3,463 881 1,618 4,717 6,881 2,970 15,230 2,327 5,687 6,648 8,607 1,401 2,674 13,091 1,853 12,096 1,629 1,597 34,027 1,485 10,600 8,100 1,584

42% 40% 16% -21% 62% 9% -16% 21% -4% 136% -18% 12% -1% 37% -13% 10% 24% 45% -2% -68% 10% -5% 37% -10% 116% 52% -14% 9% -21% 11% 17%

39 70 37 548 24 55 84 181 29 18 23 58 80 36 165 29 67 89 106 43 35 153 23 124 22 30 412 20 124 109 30

213 351 63 1,708 92 200 268 387 149 38 108 167 1,468 106 685 134 305 341 375 60 46 731 57 307 24 93 875 64 616 347 173

13.8 15.9 5.3 6.1 12.4 10.2 7.5 6.8 10.7 14.7 15.3 7.3 50.9 8.0 8.6 15.2 12.6 11.8 10.9 5.6 4.4 10.6 7.3 4.5 5.5 24.5 4.9 10.7 6.8 8.9 31.3

Average Median

107 54

7,546 4,173

17% 10%

92 55

340 200

11.9 10.2



27

3

1 2

16

18

36

19

20.0

13 14 EnerCom 3E&P Weekly

15

15

16

17

18

July 28, 2017

Large Cap Small Cap

5,6 5 5 5 5

7 7,12 5

8 5 5

5 5

Micro Cap 5 5 5 5

5 9,10 5

5 5 5

5 5 5 9,10 5 7,10


BXE CN CKE CN CQE CN CRK DEE CN EGY ESTE GDP GST GXO CN HUSA IOG AU IPO CN JONE LGCY LLEX LONE MCF MEI CN NOG PMT CN PNE CN PQ PRHR PRQ CN PSH CN REXX RMP CN SNDE SNMP SOG CN SSN TGA USEG XCO YUMA


1Q 2017

TTM

Prod

Prod

(MBoe/d)

(MBoe)

Change in Prod(1)(%)

2016 Proved

2017E Prod(2)

Reserves

Reserve Life

(Mboe/d)

(MMBoe)

(Years)

24 8 21 0 26 15 80 71 27 173 79 50 108 2 5 32 32 1 27 53 5 26 11 9 19 24 36 66 66 21 14 58 53

1,026 614 1,433 73 1,580 1,010 5,742 4,868 1,925 11,880 5,394 4,349 7,425 178 597 3,687 2,233 160 2,121 4,317 420 3,162 855 829 1,773 2,012 2,733 4,662 4,662 2,070 1,432 3,777 3,843

-12% 14% 5% 8883% -29% -7% -6% -9% -6% -12% -15% 43% -22% 7% 264% -17% 24% 48% -27% -18% -10% 116% -39% 11% 116% -16% -13% -9% -9% 7% 81% -16% -3%

12 8 17 1 17 13 73 70 24 131 61 54 82 2 NA NA 31 3 NA 42 NA 48 11 10 27 NA 23 75 75 24 19 44 43

156 46 55 3 91 74 258 275 121 568 254 78 432 11 9 87 53 10 175 285 21 337 49 76 60 124 53 193 193 101 25 110 74

17.6 15.9 7.3 38.8 9.5 13.7 8.8 10.6 12.2 9.0 8.8 4.3 10.9 12.7 5.4 7.5 4.5 24.9 17.9 14.8 11.6 35.6 12.9 23.1 8.7 13.9 4.1 8.0 8.0 12.9 5.0 5.2 3.9

Average Median

38 26

2,813 2,070

283% -7%

37 26

135 87

12.4 10.6


41 6 11 35 9 5 4 4 9 3 0 1 2 24 54 1 6 14 7 17 12 21 13 0 7 2 40 6 6 4 2 1 6 1 58 2

2,773 319 762 2,598 669 394 426 387 513 194 2 57 311 1,699 3,818 84 474 864 431 1,197 608 1,721 871 40 715 229 2,601 264 602 310 179 105 779 50 3,618 260

-12% -35% -15% -5% -2% 2% 31% -7% -57% -3% -20% 41% 101% -8% -8% 4649% -21% -28% 48% -3% -60% -14% -32% NA 7% 130% -14% -69% 16% 2% 15% 82% -39% -1% -19% 71%

35 4 9 38 9 NA 8 7 6 3 NA NA 4 22 43 3 7 10 NA 14 10 21 13 NA 10 NA 33 4 8 NA 3 NA 17 NA NA NA

143 15 70 163 19 3 12 50 26 12 0 2 17 105 145 1 41 26 17 54 37 59 10 6 31 25 108 16 29 7 9 11 30 1 79 8

9.6 6.6 17.9 12.6 6.1 1.4 7.7 36.7 7.6 11.9 2.6 7.2 19.5 12.1 7.3 5.7 19.9 5.0 6.2 8.7 8.8 7.7 2.1 124.5 11.8 41.6 7.4 7.3 13.2 4.8 12.1 36.7 13.0 4.2 3.8 10.3

Average Median

12 6

859 453

135% -5%

14 9

39 22

14.5 8.2


28

TTM


3

21.0

22.0

EnerCom E&P Weekly 3 19 20

1 2

23.0

48

56

21

24

26

July 28, 2017

Large Cap

5

5

5 5

Mid Cap 5 5

5

11 5 5

5

5 5 5 5 5

5



Natural

Asset

TTM CapEx

TTM EBITDA

PUD

Gas

Intensity

3/31/2017

3/31/2017

(%)

(%)

(%)

($MM)

($MM)


10% 23% 55% 59% 30% 34% 25% 37% 35% 20% 43% 49% 49% 49% 42% 28% 26% 34% 39% 23% 52% 7% 46% 44% 25% 56% 23% 21%

36% 43% 61% 50% 18% 97% 39% 10% 41% 46% 61% 19% 26% 91% 14% 26% 19% 62% 44% 26% 17% 29% 100% 65% 76% 85% 41% 51%

3005% 319% 51% 239% 104% 80% NA 115% 150% 643% 914% 153% 305% 65% 155% 1033% 208% 277% 190% 215% 216% 205% 83% 139% 170% 62% 80% 138%

$1,860 $3,677 $2,502 $1,199 $56 $492 $4,014 $57 $2,528 $2,362 $1,172 $502 $2,956 $3,174 $3,029 $2,021 $1,074 $1,632 $1,344 $4,853 $2,312 $2,029 $1,866 $550 $1,605 $89 $93 $856

$3,783 $3,743 $1,303 $3,390 $3,870 $791 $7,073 $2,080 $3,950 $5,209 $545 $578 $6,640 $1,718 $822 $459 $1,639 $1,784 $1,065 $4,644 $703 $2,018 $820 $914 $2,013 $885 $351 $914

Average Median

35% 35%

46% 42%

345% 170%

$1,782 $1,746

$2,275 $1,678


73% 69% 15% 30% 53% 54% 28% 63% 42% 62% 67% 16% 85% 59% 50% 66% 38% 71% 39% 74% 42% 51% 57% 32% 39% 81% 1% 34% 53% 48% 73%

94% 90% 71% 63% 22% 24% 51% 93% 9% 9% 65% 32% 0% 46% 46% 68% 22% 41% 90% 66% 2% 58% 8% 48% 3% 59% 93% 16% 19% 35% 31%

40% 56% 62% 2395% NM 110% 111% 115% 156% NA 102% 1090% NM 158% 149% 54% 129% 124% 72% NA 79% 153% 49% 692% 45% NA 1391% 64% 272% 603% NA

$133 $49 $253 $2,309 $206 $639 $63 $789 $950 NA $65 $504 $68 $577 $929 $71 $1,200 $1,516 $72 $76 $79 $1,253 $83 $2,852 $85 NA $741 $90 $424 $643 NA

$180 $243 $242 $968 $194 $409 $797 $375 $623 $77 $74 $542 $271 $322 $1,224 $157 $545 $554 $556 $282 $176 $767 $249 $701 $99 $68 $839 $145 $625 $510 $92

Average Median

50% 53%

44% 46%

331% 115%

$597 $339

$416 $322



29

3

21.0

19 3 EnerCom E&P Weekly

1 2

22.0

23.0

48

56

20

21

24

26

July 28, 2017

Large Cap Cap Small

5,6 5 5 5 5

7 7,12 5

8 5 5

5 5

Micro Cap 5 5 5 5

5 9,10 5

5 5 5

5 5 5 9,10 5 7,10



Asset

TTM CapEx

TTM EBITDA

PUD

Gas

Intensity

3/31/2017

3/31/2017

(%)

(%)

(%)

($MM)

($MM)


62% 67% 34% 51% 44% 44% 37% 56% 63% 29% 18% 37% 53% 34% 65% 0% 28% 63% 60% 57% 34% 88% 47% 70% 38% 49% 20% 67% 67% 40% 40% 10% 13%

38% 26% 23% 62% 25% 29% 70% 21% 77% 18% 3% 82% 28% 0% 0% 23% 2% 80% 44% 26% 66% 91% 12% 0% 15% 84% 37% 36% 36% 64% 48% 58% 45%

328% 89% NA NA 7932% 54% 136% NM NM NM NM NM NM NA NM NA 379% NA 104% 70% NA 23% NA 42% 124% NA NA 198% 198% 136% 146% 809% 1178%

$28 $41 $106 $48 $21 $50 $51 $52 $59 $104 $255 $210 $474 $19 $19 NA $148 $37 $124 $73 $9 $77 $24 $80 $148 $59 $123 $1,367 $1,367 $87 $91 $156 $60

$87 $32 $206 -$6 $81 $121 $391 $487 $62 $700 $433 $71 $812 $13 -$52 $87 $197 -$7 $133 $338 $19 $91 $73 $44 $147 $73 $325 $291 $291 $104 $79 $270 $232

Average Median

45% 44%

38% 36%

703% 136%

$174 $75

$189 $104


55% 60% 74% 63% 31% 0% 22% 87% 49% 38% 0% 13% 51% 41% 4% 0% 73% 17% 31% 30% 77% 3% 46% 88% 46% 79% 0% 54% 58% 0% 58% 52% 28% 0% 0% 17%

68% 85% 86% 96% 67% 0% 28% 94% 25% 16% 43% 57% 33% 45% 72% 54% 22% 69% 55% 14% 84% 91% 43% 30% 71% 17% 57% 68% 20% 35% 35% 13% 13% 26% 87% 48%

343% NA 303% 1074% 115% NA 463% NA NA NA NA NA 62% 486% 527% 0% 93% NA NM NA NA 174% NA NA NA 22% 4190% 210% NM NA 640% NA NA NA NA NM

$53 $54 $58 $82 $61 $14 $30 $9 $68 $62 $1 $0 $60 $303 $64 $28 $48 $41 $69 $93 $74 $75 $25 $13 NA $24 $61 $82 $91 NA $84 $6 $88 $0 $60 $11

$222 $8 $5 $18 $56 $9 $15 $0 $22 $27 -$2 $0 $11 $168 $227 -$18 $40 $31 $38 $141 $41 $27 $19 -$4 $49 $17 $46 $59 $37 $39 $3 $12 $1 $3 $85 -$1

Average Median

37% 40%

49% 46%

580% 303%

$56 $59

$40 $21


30

Natural


3

25

26


1 2

27

28

29

42

30

31

32

33

July 28, 2017

Large Cap

5

5

5 5


Apache Corp Anadarko Petroleum Corp Antero Resources Corp Continental Resources Inc/OK Canadian Natural Resources Ltd Cabot Oil & Gas Corp ConocoPhillips Crescent Point Energy Corp Concho Resources Inc Devon Energy Corp Encana Corp Energen Corp EOG Resources Inc EQT Corp Diamondback Energy Inc Hess Corp Marathon Oil Corp Noble Energy Inc Newfield Exploration Co Occidental Petroleum Corp Parsley Energy Inc Pioneer Natural Resources Co Rice Energy Inc Range Resources Corp RSP Permian Inc Tourmaline Oil Corp Vermilion Energy Inc Cimarex Energy Co Average Median

Mid Cap 5 5

5

11 5 5

5

5 5 5 5 5

5


Advantage Oil & Gas Ltd Birchcliff Energy Ltd Black Stone Minerals LP Chesapeake Energy Corp Callon Petroleum Co Carrizo Oil & Gas Inc Enerplus Corp Gulfport Energy Corp Halcon Resources Corp Jagged Peak Energy Inc Kelt Exploration Ltd Laredo Petroleum Inc MEG Energy Corp Matador Resources Co Murphy Oil Corp NuVista Energy Ltd Oasis Petroleum Inc PDC Energy Inc Peyto Exploration & Development Corp Paramount Resources Ltd Parex Resources Inc QEP Resources Inc Raging River Exploration Inc SM Energy Co Spartan Energy Corp SRC Energy Inc Southwestern Energy Co TORC Oil & Gas Ltd Whiting Petroleum Corp WPX Energy Inc WildHorse Resource Development Corp Average Median

ECI Value Drivers TTM

3-Yr F&D

TTM

Costs

OPEX & GA

Capital

3-Year Prod

Debt /

($/Boe)

($/Boe)

Efficiency

Repl

Mkt Cap

P/CFPS 2017E(3)

$365.17 $37.50 $4.65 $20.19 $13.54 $3.60 NA $27.24 $22.18 $57.06 $33.27 $18.91 $22.08 $5.28 $20.06 $85.23 $17.56 $24.14 $24.34 $25.39 $17.52 $33.30 $7.24 $5.92 $18.34 $7.60 $21.94 $14.14

$12.89 $14.54 $10.96 $7.71 $24.92 $6.29 $16.39 $18.07 $11.79 $16.39 $14.60 $14.58 $12.69 $7.13 $10.74 $27.05 $13.24 $10.15 $13.35 $27.88 $12.11 $12.18 $4.63 $9.28 $10.84 $6.83 $17.46 $9.99

5% 28% 196% 108% 82% 165% NA 112% 157% 33% 10% 116% 73% 206% 122% 4% 53% 39% 61% 65% 130% 56% 162% 125% 133% 165% 73% 87%

8% 59% 588% 191% 183% 280% NA 224% 253% 50% 110% 233% 137% 385% 507% 36% 130% 137% 115% 100% 747% 102% 700% 448% 985% 438% 204% 151%

45% 59% 72% 52% 35% 13% 48% 78% 14% 59% 43% 10% 13% 29% 10% 48% 69% 50% 43% 20% 21% 10% 26% 69% 21% 18% 25% 16%

6.3x 5.2x 3.5x 5.1x 5.3x 9.3x 6.0x 3.2x 9.5x 5.3x 5.3x 12.6x 10.0x 5.4x 8.3x 6.6x 3.9x 5.5x 5.4x 8.6x 7.5x 10.1x 5.6x 4.5x 7.2x 5.3x 7.8x 7.0x

$35.31 $20.19

$13.38 $12.43

95% 87%

278% 191%

36% 32%

6.6x 5.8x

$4.93 $4.79 $12.06 $26.93 $19.30 $16.56 $11.46 $8.03 $32.55 $13.21 $10.19 $173.26 $14.34 $21.33 $16.21 $8.40 $20.41 $22.62 $10.39 $10.07 $15.50 $16.26 $13.85 $58.45 $11.08 $13.52 $55.48 $15.28 $18.78 $41.34 $10.54

$3.53 $8.06 $9.07 $12.30 $13.58 $13.18 $16.56 $4.36 $20.97 $10.86 $15.20 $10.84 $53.31 $15.41 $13.34 $15.67 $17.21 $9.95 $3.62 $18.39 $23.81 $14.75 $14.81 $13.21 $21.75 $10.38 $6.42 $18.21 $13.70 $16.49 $10.73

237% 229% 166% 13% 135% 126% 194% 82% 138% 228% 102% 14% 66% 115% 95% 211% 111% 85% 156% 265% 109% 69% 227% 18% 202% 132% 8% 157% 37% 32% 158%

340% 558% 114% 59% 808% 341% 183% 464% 172% 1289% 757% 29% 384% 315% 187% 487% 274% 350% 222% 651% 246% 186% 514% 73% 460% 903% 42% 522% 333% 85% 1100%

9% 34% 24% 207% 17% 104% 27% 65% 94% 0% 9% 43% 314% 23% 64% 11% 122% 34% 30% 0% 0% 101% 9% 144% 20% 4% 154% 21% 164% 60% 27%

7.2x 4.0x NA 2.4x 6.1x 2.3x 5.2x 2.9x 7.9x 6.8x 8.0x 7.3x 5.1x 8.1x 3.7x 5.4x 2.7x 4.1x 5.5x 6.4x 7.2x 2.3x 5.8x 3.3x 5.5x 4.9x 2.6x 5.4x 2.1x 4.8x 2.9x

$23.46 $15.28

$14.50 $13.58

126% 126%

402% 340%

62% 30%

4.9x 5.1x



31

3

25

26


1 2

27

28

29

42

30

31

32

33

July 28, 2017

Large Cap Cap Small

5,6 5 5 5 5

7 7,12 5

8 5 5

5 5

Micro Cap 5 5 5 5

5 9,10 5

5 5 5

5 5 5 9,10 5 7,10




TTM

Costs

OPEX & GA

Capital

Prod

Debt /

($/Boe)

($/Boe)

Efficiency

Repl

Mkt Cap

3-Year P/CFPS 2017E(3)

$9.76 $12.71 NA $12.98 $30.71 $9.62 $10.64 $16.92 $4.70 NA NA $14.00 $79.29 NA $86.32 -$214.61 $42.96 $9.26 $9.37 $16.14 NA $1.62 NA $6.84 $19.06 -$21.99 NA $11.76 $11.76 $14.10 $20.82 $90.08 $40.24

$11.22 $15.92 $13.17 $116.81 $18.11 $15.73 $8.62 $17.09 $11.20 $23.78 $27.19 $11.48 $14.71 $24.44 $50.77 $14.74 $16.94 $25.30 $11.09 $20.00 $11.86 $8.04 $18.35 $19.67 $24.57 $8.72 $13.91 $16.89 $16.89 $14.85 $15.55 $17.35 $15.47

101% 87% NA NA 28% 233% 126% 111% 133% NA NA 28% 26% NA NA -3% 39% -177% 145% 108% NA 596% NA 195% 111% -37% NA 102% 102% 94% 77% 14% 30%

364% 348% NA 1712% 131% 372% 145% 318% 427% NA NA 316% 46% NA 119% -31% 163% 656% 306% 134% NA 2257% NA 585% 192% -75% NA 388% 388% 183% 394% 23% 51%

136% 7% 262% 0% 183% 77% 114% 219% 47% 1431% 509% 66% 412% 0% 60% 12% 21% 0% 37% 275% 12% 76% 5% 0% 53% 60% 54% 410% 410% 99% 25% 81% 372%

5.1x 4.3x 1.9x 35.5x 5.4x 4.5x 2.6x 2.6x 3.8x 0.7x 1.7x 4.1x 2.7x 10.1x NC NC 3.7x 16.7x 2.8x 4.1x NC 2.9x 3.1x 6.6x 3.3x 2.3x 3.2x 1.2x 1.2x 4.8x 3.2x 3.0x 1.2x

Average Median

$13.27 $12.85

$20.32 $15.92

95% 98%

381% 311%

167% 66%

5.0x 3.2x


$8.16 $26.52 $10.90 $8.74 $11.34 NA $62.92 $26.92 NA $19.23 NA NA $8.49 $24.55 $13.93 $0.00 $8.90 NA $26.53 NA NA $6.02 $8.86 $1.96 $2.85 $4.31 $71.41 $24.22 NA NA $40.39 $7.01 $93.70 NA NA $17.07

$21.31 $21.10 $12.92 $8.49 $17.44 $31.24 $18.58 $21.89 $15.81 $18.44 $445.33 $12.10 $25.75 $9.85 $15.27 $70.94 $11.84 $13.35 $22.41 $15.45 $13.91 $11.10 $13.67 $53.43 $8.88 $16.36 $11.26 $15.10 $10.23 $42.56 $33.54 $41.51 $18.95 $20.21 $11.92 $26.42

182% 14% 11% 16% 155% NA 15% NA NA 132% NA NA 157% 79% NA NA 222% NA 52% NA 241% 59% NA -3532% 657% 661% 4% 107% NA NA 8% 540% 1% NA NA NA

372% 91% 314% 316% 224% NA 152% 190% NA 326% NA NA 481% 166% 252% 398% 361% NA 214% NA 230% 711% 214% 58458% 237% 2106% 35% 179% NA NA 178% 1698% 17% NA NA 283%

256% 0% 133% 929% 14% 27% 6% 42% 195% 18% 0% 160% 36% 714% 1198% 16% 251% 37% 241% 1000% 105% 25% 567% 35% 221% 64% 2644% 22% 0% 96% 85% 451% 89% 137% 3095% 156%

2.1x 4.4x 1.6x 1.7x 3.1x NC 6.5x 3.2x 14.8x 5.6x NC NC 2.9x 0.9x 0.8x 4.9x 1.5x 3.7x NC 1.2x 2.2x 4.5x 1.0x NC 1.7x NC 0.6x 4.3x 1.1x 6.0x 2.8x NC 1.8x NC NC NC

Average Median

$21.40 $11.34

$32.74 $16.90

-10% 79%

2623% 244%

363% 100%

3.3x 2.5x


32

ECI Value Drivers TTM

3-Yr F&D


3

24

47

EnerCom E&P Weekly 3 35 36

1 2

31

$46

32

33

34

37

38

39

40

41

July 28, 2017 TTM EBITDA /

Large Cap

5

5

5 5

Mid Cap 5 5

5

11 5 5

5

5 5 5 5 5

5



EV / 2016

EV / TTM

Stock

Boe

TTM Cash Margin/ Boe(4)

Reserves

Prod

Performance

($/Boe)

($/Boe)

($/ Boe)

($/Boe/d)

Week

3Q'17

YTD


$17.62 $10.34 $9.09 $21.73 $11.14 $5.95 $9.85 $30.53 $34.77 $19.00 $3.46 $21.89 $16.21 $10.86 $24.40 $3.15 $9.23 $9.49 $14.81 $16.43 $22.82 $18.69 $11.75 $7.43 $24.40 $12.54 $15.91 $12.24

$16.68 $8.93 $4.79 $14.98 $15.84 $5.41 $24.92 $23.55 $16.33 ($0.12) $5.62 $12.64 $14.44 $6.01 $22.35 $11.77 $11.90 $10.96 $10.60 $0.31 $18.27 $15.44 $8.88 $3.51 $19.36 $10.28 $22.50 $11.47

$20.91 $22.45 $4.70 $14.96 $11.04 $8.94 $12.24 $15.83 $29.65 $14.66 $17.22 $18.04 $28.20 $7.61 $53.05 $18.04 $7.29 $14.41 $14.97 $23.40 $32.94 $40.68 $14.14 $4.55 $7.40 $10.45 $39.73 $21.30

$46,618 $38,995 $30,681 $44,620 $66,229 $35,125 $39,999 $50,905 $68,586 $40,184 $31,496 $78,904 $53,955 $39,557 $118,080 $50,053 $31,391 $40,202 $38,968 $72,670 $86,801 $99,809 $49,316 $27,186 $19,248 $46,427 $105,635 $50,138

3% 5% 0% 7% 3% 2% 6% 7% 3% 4% 3% 7% 3% 5% 5% 3% 4% 2% 8% 4% 6% 1% 6% 4% 5% 5% 6% 3%

4% 2% -2% 4% 3% 2% 3% 0% 7% 4% 15% 9% 5% 13% 9% 2% 4% 2% 1% 5% 6% 1% 9% -6% 8% 1% 2% 5%

-21% -34% -11% -35% -10% 9% -10% -46% -2% -27% -13% -6% -6% 1% -4% -28% -29% -24% -29% -12% -16% -10% 35% -36% -22% -22% -26% -28%

Average Median

$15.20 $13.67

$12.41 $11.84

$18.89 $15.40

$53,635 $46,522

4% 4%

4% 4%

-16% -19%


$11.67 $10.96 $20.06 $3.44 $26.13 $20.83 $22.27 $6.62 $44.88 $30.14 $10.40 $23.68 $9.39 $24.47 $15.46 $17.76 $22.59 $19.21 $16.22 $26.67 $16.97 $11.14 $31.43 $10.41 $22.34 $17.87 $4.66 $23.96 $6.86 $13.06 $16.67

$10.00 $9.85 $13.31 $3.24 $22.83 $12.01 $8.78 $7.37 $4.63 $29.26 $9.31 $10.80 $0.52 $12.73 $13.93 $14.17 $12.25 $9.59 $12.99 $1.79 $19.59 $6.74 $33.14 $6.16 $25.32 $18.17 $4.03 $25.13 $5.45 $2.28 $15.63

$8.30 $6.58 $32.47 $9.25 $30.03 $13.35 $13.06 $10.43 $12.65 $75.84 $12.11 $26.82 $4.09 $27.48 $9.94 $9.67 $13.73 $11.63 $13.11 $27.20 $49.34 $5.05 $36.43 $13.87 $57.88 $18.76 $9.11 $20.37 $8.27 $20.16 $8.62

$41,852 $38,106 $62,443 $20,519 $135,519 $49,635 $35,742 $25,996 $49,434 $407,295 $67,581 $71,537 $76,050 $80,692 $31,366 $53,506 $63,380 $50,302 $52,320 $56,059 $79,775 $19,557 $96,417 $23,029 $116,082 $167,784 $16,172 $79,227 $20,394 $65,284 $98,398

0% 4% 4% 8% 6% 5% 5% 4% -2% 10% 6% 4% 29% 8% 7% 3% 7% 8% 1% 3% 2% -10% 4% 4% 8% 19% 3% 6% 6% 9% 9%

0% 4% 6% 2% 9% -8% 8% -7% 47% 8% 7% 24% 41% 16% 6% 1% -1% 10% -3% 5% 6% -17% 0% 9% 6% 26% -2% 11% -3% 13% 7%

-4% -32% -11% -28% -25% -57% -11% -37% -29% -4% -1% -8% -42% -4% -13% -5% -47% -35% -31% 18% -8% -55% -23% -48% -35% -4% -45% -32% -56% -25% -10%

Average Median

$18.01 $17.76

$12.29 $10.80

$19.86 $13.11

$72,628 $56,059

6% 5%

7% 6%

-24% -25%



33

3

24

47

3 35 EnerCom E&P Weekly36

1 2

31

$46

32

33

34

37

38

39

40

41

July 28, 2017 TTM EBITDA /

Large Cap Cap Small

5,6 5 5 5 5

7 7,12 5

8 5 5

5 5

Micro Cap 5 5 5 5

5 9,10 5

5 5 5

5 5 5 9,10 5 7,10


Approach Resources Inc Abraxas Petroleum Corp Bill Barrett Corp Blackbird Energy Inc Bonanza Creek Energy Inc Bonterra Energy Corp Bonavista Energy Corp Baytex Energy Corp Crew Energy Inc California Resources Corp Denbury Resources Inc Eclipse Resources Corp EP Energy Corp Evolution Petroleum Corp Erin Energy Corp Energy XXI Ltd Gran Tierra Energy Inc Leucrotta Exploration Inc Midstates Petroleum Co Inc Pengrowth Energy Corp Panhandle Oil and Gas Inc Painted Pony Energy Ltd Penn Virginia Corp BlackPearl Resources Inc Resolute Energy Corp SilverBow Resources Inc Stone Energy Corp Sanchez Energy Corp Sanchez Energy Corp Trilogy Energy Corp Tamarack Valley Energy Ltd Unit Corp W&T Offshore Inc Average Median



EV / 2016

EV / TTM

Stock

Boe

TTM Cash Margin/ Boe(4)

Reserves

Prod

Performance

($/Boe)

($/Boe)

($/ Boe)

($/Boe/d)

3Q'17

YTD

$9.83 $11.06 $27.44 ($75.41) $8.51 $22.41 $13.37 $18.79 $6.26 $11.08 $15.03 $3.90 $20.56 $15.16 ($30.14) $7.48 $16.85 ($16.36) $13.60 $17.50 $10.69 $9.68 $18.97 $13.35 $21.09 $8.15 $25.01 $12.04 $12.04 $13.31 $15.97 $12.80 $12.08

$3.84 $9.40 $7.95 ($30.17) $1.62 $19.18 $8.68 $10.84 $8.72 $2.66 $9.26 $2.69 $5.11 $20.77 ($15.66) $10.47 $14.77 $0.34 $10.64 $2.97 $5.81 $5.83 $9.79 $11.20 $1.92 $5.86 $12.74 $1.97 $1.97 $8.90 $16.88 $9.38 $6.44

$3.98 $6.91 $13.11 $61.36 $17.14 $13.58 $6.37 $9.62 $7.48 $9.64 $14.29 $13.78 $11.03 $23.64 $67.37 $6.50 $20.77 $34.84 $2.21 $5.77 $20.37 $4.17 $12.08 $4.74 $19.88 $3.71 $9.16 $14.09 $14.09 $11.34 $28.96 $15.99 $15.75

$25,509 $40,060 $34,883 $868,364 $59,613 $68,075 $20,526 $37,224 $33,430 $31,628 $46,049 $21,514 $44,049 $109,900 $132,852 $17,737 $34,309 $316,803 $14,429 $31,115 $86,093 $54,289 $56,756 $40,031 $62,895 $18,842 $13,763 $40,973 $40,973 $53,609 $53,148 $30,492 $22,169

2% 12% 1% 4% 8% 5% 11% 15% 8% 10% 10% 11% 5% 5% 16% 3% 4% 2% 2% 7% 4% 9% 2% 2% 8% 1% 10% -8% -8% 3% 5% 4% 2%

-9% 11% 16% 0% -10% 2% 20% 12% 4% -2% -2% -1% 1% 3% 28% 5% 6% -1% 8% -1% -2% 3% 4% 1% 17% -4% 18% -22% -22% 9% 7% -1% 2%

-9% -30% -49% -39% -27% -41% -33% -46% -44% -61% -59% 6% -44% -17% -39% -36% -21% -16% -34% -45% -4% -47% -22% -38% -15% -25% -17% -38% -38% -30% -31% -31% -28%

$9.15 $12.80

$6.14 $7.95

$15.87 $13.11

$77,639 $40,060

5% 5%

3% 2%

-32% -33%

$7.26 ($0.62) $2.46 ($3.24) $6.50 $11.26 $13.43 ($4.76) ($6.20) $28.77 NM ($1.55) $6.51 $1.55 $0.58 ($104.87) $3.26 $4.56 $0.29 $5.17 ($2.97) $2.56 ($3.00) ($100.83) ($3.74) ($24.45) ($1.50) $12.08 $11.25 $2.43 ($8.29) ($7.64) ($1.25) $10.05 ($1.09) ($2.34)

$3.93 $4.08 $1.43 $6.98 $14.31 $17.29 $19.76 $2.54 $25.13 $16.00 NM $7.05 $8.09 $12.65 $10.22 $225.86 $7.30 $8.45 $7.33 $16.65 $4.58 $4.99 $28.15 $7.56 $10.92 $12.67 $7.65 $9.27 $1.76 $96.97 $19.99 $3.43 $6.91 $11.86 $15.09 $7.52

$13,818 $9,829 $9,329 $32,008 $31,695 $8,768 $55,494 $34,076 $69,515 $69,532 NM $18,564 $57,461 $55,657 $27,208 $468,554 $53,040 $15,427 $16,647 $53,050 $14,660 $13,996 $22,006 $343,218 $46,974 $192,400 $20,536 $24,547 $8,470 $168,679 $88,494 $45,983 $32,758 $18,185 $20,820 $28,261

4% 6% -3% 9% 4% 2% 13% 0% -2% -4% -19% -25% 3% 3% 6% 2% 9% 4% -5% 13% 9% -5% 12% 3% -2% 5% 3% 8% 13% -4% 5% -6% 1% -3% -15% -2%

-14% 3% -10% 4% 2% 0% 3% 6% -4% 1% -30% -4% 4% -6% -10% -6% -9% -6% 27% -7% 3% -9% 13% -6% -4% -11% 1% 3% 12% -9% 1% -6% 3% 5% -23% 126%

-50% -22% -49% -25% -27% -10% -25% 7% -43% -21% 194% -50% -20% -67% -38% 48% -54% -33% -49% -53% -37% -38% -32% -8% -34% 132% -38% -16% -65% -1% -6% -36% -18% -44% -84% -38%

($4.24) $0.29

$18.98 $8.45

$62,562 $31,695

1% 3%

1% -2%

-21% -33%

$14.88 $3.72 $1.17 $1.40 $17.59 $4.86 $9.33 ($0.12) $6.65 $25.41 NM $1.73 $13.36 $19.29 $11.42 ($84.86) $19.72 $5.95 $13.91 $22.70 $9.70 $3.53 $3.96 ($69.06) $18.69 $28.47 $3.11 $25.99 $16.71 $26.91 $3.35 $37.84 $0.49 $13.32 $4.02 ($1.25)

Average Median


34

Week

$6.68 $9.33


0

3

4

7

8

EnerCom E&P Weekly

9

38

39.0

11

July 28, 2017

Performance of Oil and Gas Indexes

5 Day

4.0%

YTD

2.5%

2.3%

2.0% 0.0%

%Change

-2.0% -4.0% -6.0%

-8.0% -9.5%

-10.0%

-12.0% -14.0%

-14.2%

-16.0%

XOI

XNG

Stock Performance By Region 5 Day

80.0%

YTD 70.8%

70.0%

%Change

60.0% 50.0%

40.0%

33.9%

31.7%

30.0%

24.5%

20.0%

10.0%

4.7%

-10.0%

0.2% -1.7% -2.8% -0.2%

-5.6%

Bakken

5.1%

4.5%

0.0%

Midcon/Ark-La-Tex

Marcellus

GOM

Canada

Diversified

Stock Performance By Market Cap

5 Day

10.0% 5.0%

4.3%

5.8%

YTD

5.3% 1.2%

0.0%

%Change

-5.0% -10.0% -15.0%

-16.5%

-20.0%

-20.9%

-25.0%

-24.0%

-30.0% -31.7%

-35.0%

Large Cap

Mid Cap


Small Cap

Micro Cap


35

#

2

EnerCom OilService Weekly 47

Segment Large Cap 3 ALA CN BHGE CLB FLR HAL HP 3 IPL CN KEX 3 KEY CN MTZ NOV 3 PPL CN PTEN PWR RES RIG SLB SUBCY 3 TRP CN TS WFT

Mid Cap 3

3

3

3 3 3

3 4

CBI CEU CN DO DRQ ESI CN ESV FET FI GEI CN KBR MDR NBR OII OIS PD CN PSI CN RDC SES CN SLCA SPN TCW CN VK FP

4

3

Share Price 7/28/2017

July 28, 2017

53

51

52.0

6

7

9

Shares O/S

Mkt Cap

Daily Value Traded

3 Mo Avg Daily Trading Vol

Short Interest

1Q 2017 Cash

1Q 2017 Debt

EV

(MM)

($MM)

($MM)

(000's)

Ratio

($MM)

($MM)

($MM)

AltaGas Ltd Baker Hughes a GE Co Core Laboratories NV Fluor Corp Halliburton Co Helmerich & Payne Inc Inter Pipeline Ltd Kirby Corp Keyera Corp MasTec Inc National Oilwell Varco Inc Pembina Pipeline Corp Patterson-UTI Energy Inc Quanta Services Inc RPC Inc Transocean Ltd Schlumberger Ltd Subsea 7 SA TransCanada Corp Tenaris SA Weatherford International Ltd Average Median

Services Services Services Construction Services Land Drilling Services Services Services Construction Equipment Services Land Drilling Services Services Offshore Drilling Services Services Services Services Equipment

$28.71 $37.10 $101.71 $44.58 $42.93 $51.82 $24.55 $62.40 $39.01 $46.15 $33.11 $42.50 $19.51 $33.58 $21.55 $8.69 $68.46 $14.62 $63.50 $31.64 $4.27

170.2 428.0 44.1 139.8 871.6 108.6 373.5 54.0 186.5 82.7 380.0 396.9 212.0 148.1 217.4 391.0 1,384.5 327.4 871.1 590.3 989.0

$4,887 $15,880 $4,489 $6,231 $37,418 $5,626 $9,170 $3,370 $7,275 $3,817 $12,583 $16,868 $4,136 $4,974 $4,684 $3,398 $94,785 $4,786 $55,315 $18,676 $4,223 $15,361 $5,626

$30 $158 $79 $62 $383 $214 $29 $34 $12 $17 $158 $36 $80 $40 $31 $97 $721 $0 $173 $55 $106 $120 $62

933 3,391 786 1,419 10,153 2,281 1,642 421 608 719 3,165 2,327 4,629 1,718 1,822 14,944 7,759 21 2,669 1,991 23,459 4,136 1,991

3.6 3.0 5.7 4.5 3.1 12.2 5.7 17.3 2.9 7.0 11.4 10.7 5.2 3.1 18.6 5.6 3.4 0.5 12.5 6.0 7.0 7.1 5.7

$32 $1,027 $14 $1,968 $2,107 $742 $27 $3 $17 $16 $1,479 $36 $467 $107 $104 $3,093 $1,902 $1,872 $894 $341 $546 $800 $467

$3,493 $337 $219 $1,567 $10,909 $492 $5,711 $675 $1,672 $956 $3,213 $4,483 $599 $423 $0 $8,395 $18,987 $858 $46,204 $708 $7,539 $5,592 $1,567

$9,663 $15,367 $4,697 $5,956 $46,258 $5,377 $14,853 $4,045 $8,930 $4,763 $14,381 $22,824 $4,268 $5,293 $4,579 $8,735 $112,318 $3,824 $106,433 $19,150 $11,272 $20,618 $8,930

Chicago Bridge & Iron Co NV CES Energy Solutions Corp Diamond Offshore Drilling Inc Dril-Quip Inc Ensign Energy Services Inc Ensco PLC Forum Energy Technologies Inc Frank's International NV Gibson Energy Inc KBR Inc McDermott International Inc Nabors Industries Ltd Oceaneering International Inc Oil States International Inc Precision Drilling Corp Pason Systems Inc Rowan Cos Plc Secure Energy Services Inc US Silica Holdings Inc Superior Energy Services Inc Trican Well Service Ltd Vallourec SA Average Median

Construction Services Offshore Drilling Equipment Land Drilling Offshore Drilling Services Services Services Construction Construction Land Drilling Services Equipment Land Drilling Services Offshore Drilling Services Services Services Services Services

$18.54 $6.30 $12.00 $45.40 $6.62 $5.31 $13.60 $8.27 $16.04 $14.92 $6.87 $7.88 $25.66 $26.55 $3.77 $18.36 $11.62 $9.21 $29.01 $11.18 $3.76 $5.17

100.8 265.5 137.2 37.8 156.0 303.9 96.6 222.9 142.6 139.9 284.0 285.8 98.3 51.1 293.2 84.8 126.1 162.9 81.2 153.1 346.3 451.2

$1,870 $1,673 $1,647 $1,718 $1,032 $1,614 $1,313 $1,843 $2,288 $2,087 $1,951 $2,252 $2,521 $1,357 $1,106 $1,557 $1,465 $1,501 $2,356 $1,711 $1,302 $2,334 $1,750 $1,692

$55 $4 $42 $67 $2 $83 $31 $10 $4 $20 $22 $61 $39 $24 $11 $1 $46 $2 $61 $64 $9 $43 $32 $27

6,243 943 3,439 646 656 17,945 959 1,178 356 2,206 4,256 9,192 1,425 699 3,679 175 3,933 463 3,126 4,766 3,788 5,807 3,449 2,666

3.4 8.1 10.1 11.1 5.9 3.7 15.8 13.6 7.5 12.0 6.5 4.8 5.3 7.8 1.6 15.0 6.5 8.4 4.1 6.3 1.0 NA 7.6 6.5

$402 $0 $123 $414 $35 $272 $205 $284 $80 $410 $624 $201 $463 $65 $121 $163 $1,173 $5 $661 $152 $19 $1,013 $313 $203

$2,407 $359 $1,981 $0 $744 $4,944 $399 $0 $1,046 $694 $765 $3,662 $794 $26 $1,893 $0 $2,553 $196 $515 $1,286 $147 $2,546 $1,225 $755

$4,032 $2,032 $3,505 $1,304 $1,741 $6,290 $1,508 $1,559 $3,254 $2,359 $2,134 $5,722 $2,853 $1,318 $2,878 $1,394 $2,845 $1,691 $2,210 $2,846 $1,430 $4,346 $2,693 $2,285


36

5


#

EnerCom OilService Weekly

2

47

Segment Small Cap ATW 3 BAS BOOM 3 BRS 3 CFW CN CORR FTK GEOS HCLP HLX KEG NE NR POWL 3 STEP CN TESO THR 3 TOT CN TTI

Micro Cap AETI CGG CRR DWSN ENSV ESES GIFI ICD IO 3 NAL CN PES 3 PHX CN PKD 3 PSD CN SAEX SDPI SDRL 3 SDY CN TDW WG 3 XDC CN

4

3

Share Price 7/28/2017

July 28, 2017

5

53

51

52.0

6

7

9

Shares O/S

Mkt Cap

Daily Value Traded

3 Mo Avg Daily Trading Vol

Short Interest

1Q 2017 Cash

1Q 2017 Debt

EV

(MM)

($MM)

($MM)

(000's)

Ratio

($MM)

($MM)

($MM)

Atwood Oceanics Inc Basic Energy Services Inc DMC Global Inc Bristow Group Inc Calfrac Well Services Ltd CorEnergy Infrastructure Trust Inc Flotek Industries Inc Geospace Technologies Corp Hi-Crush Partners LP Helix Energy Solutions Group Inc Key Energy Services Inc Noble Corp plc Newpark Resources Inc Powell Industries Inc STEP Energy Services Ltd Tesco Corp Thermon Group Holdings Inc Total Energy Services Inc TETRA Technologies Inc Average Median

Offshore Drilling Services Equipment Offshore Supply Services Services Equipment Equipment Services Services Services Offshore Drilling Services Services Services Services Services Services Services

$8.00 $23.82 $14.20 $7.56 $3.48 $35.62 $8.40 $15.30 $8.35 $6.42 $18.95 $4.04 $7.85 $32.80 $9.60 $4.40 $18.14 $12.17 $2.81

80.5 26.0 14.8 35.3 136.8 11.9 57.3 13.4 91.0 147.7 20.1 244.7 85.6 11.4 60.1 46.7 32.4 46.2 116.0

$644 $620 $210 $267 $476 $424 $482 $206 $760 $948 $381 $989 $672 $375 $577 $206 $587 $563 $326 $511 $482

$32 $29 $1 $5 $2 $2 $3 $1 $10 $11 $0 $30 $7 $1 $0 $1 $1 $0 $2 $7 $2

5,944 542 28 1,175 1,233 82 771 46 1,779 1,646 115 12,121 740 26 61 385 133 71 1,157 1,477 542

5.4 7.9 30.2 13.2 3.9 21.7 22.3 32.2 4.8 4.7 17.0 4.8 13.4 2.3 11.8 8.0 12.3 10.5 5.8 12.2 10.5

$435 $51 $5 $97 $86 $11 $2 $19 $55 $538 $83 $520 $70 $93 $9 $83 $43 $0 $13 $116 $55

$1,298 $237 $22 $1,282 $995 $210 $50 $0 $195 $609 $247 $4,042 $157 $2 $39 $0 $80 $61 $640 $535 $195

$1,507 $806 $227 $1,457 $1,376 $707 $530 $186 $900 $1,020 $545 $5,232 $759 $283 $607 $122 $629 $624 $1,108 $980 $707

American Electric Technologies Inc CGG SA CARBO Ceramics Inc Dawson Geophysical Co Enservco Corp Eco-Stim Energy Solutions Inc Gulf Island Fabrication Inc Independence Contract Drilling Inc ION Geophysical Corp Newalta Corp Pioneer Energy Services Corp PHX Energy Services Corp Parker Drilling Co Pulse Seismic Inc SAExploration Holdings Inc Superior Drilling Products Inc Seadrill Ltd Strad Energy Services Ltd Tidewater Inc Willbros Group Inc Xtreme Drilling Corp Average Median

Services Seismic Services Seismic Services Services Offshore Supply Land Drilling Services Services Land Drilling Services Land Drilling Seismic Seismic Equipment Offshore Drilling Services Offshore Supply Construction Land Drilling

$2.00 $4.49 $6.55 $4.14 $0.34 $1.50 $11.35 $3.89 $3.70 $1.28 $2.30 $2.08 $1.15 $2.55 $2.98 $0.77 $0.38 $1.38 $0.96 $2.06 $2.10

8.5 22.1 27.1 21.7 51.1 54.8 14.9 37.8 11.9 88.1 77.7 58.6 137.8 55.3 9.4 24.1 508.8 60.0 30.0 63.3 74.7

$17 $99 $178 $90 $17 $82 $169 $147 $44 $112 $179 $122 $159 $141 $28 $19 $195 $83 $29 $130 $157 $105 $112

$0 $0 $10 $0 $0 $0 $1 $1 $0 $0 $1 $0 $1 $0 $0 $0 $2 $0 $2 $1 $0 $1 $0

28 8 1,032 124 131 238 108 163 33 170 1,092 148 487 30 59 76 7,883 25 NA 186 110 607 128

2.6 18.9 16.3 4.5 7.4 14.8 9.0 8.8 23.5 6.8 3.7 3.1 8.6 240.3 5.7 3.9 11.4 1.2 NA 4.7 0.1 19.8 7.1

$2 $391 $56 $28 $0 $11 $35 $7 $50 $0 $7 $3 $150 $8 $12 $1 $1,462 $1 $706 $37 $90 $146 $12

$7 $2,726 $73 $2 $26 $42 $0 $38 $157 $320 $374 $14 $577 $0 $36 $14 $9,695 $19 $2,034 $87 $0 $773 $38

$27 $2,470 $195 $63 $43 $113 $134 $177 $152 $432 $545 $133 $586 $133 $58 $32 $8,955 $101 $1,373 $181 $67 $760 $134



37


#

2

July 28, 2017


Mid Cap 3

3

3

3 3 3

3 4


58

23

59

24

Days Sales

TTM EBITDA 3/31/2017


TTM Net Inc 3/31/2017

Outstanding

($MM)

($MM)

($MM)

38

ROA(1)



45.1 NA 74.4 29.0 102.8 83.8 32.8 57.5 40.3 70.6 112.4 36.0 75.4 69.3 91.9 98.4 110.2 NA 47.7 90.4 98.2 71.9 74.4

$691 $304 $114 $986 $2,209 $380 $1,081 $426 $602 $538 $358 $1,269 $170 $570 $35 $1,861 $5,284 $1,355 $7,036 $721 $344 $1,254 $602

$532 NA $189 $944 $1,670 $992 $981 $573 $564 $271 $357 $954 $458 $430 $119 $2,328 $7,067 $1,127 $1,551 $825 -$346 $1,079 $699

$182 -$179 $66 $238 -$3,383 -$178 $494 $131 $243 $175 -$2,415 $579 -$312 $226 -$105 $620 -$1,909 $431 $643 $242 -$3,342 -$360 $175

7% 1% 20% 11% 9% 6% 11% 10% 12% 17% 2% 8% 4% 10% 3% 7% 7% 16% 8% 5% 3% 8% 8%



38.3 95.1 78.9 199.3 90.3 64.5 72.0 101.1 25.6 47.7 35.4 92.3 87.1 82.8 101.7 91.0 75.4 36.9 56.3 87.1 116.9 66.0 79.2 80.9

$666 $59 $634 $100 $176 $1,119 -$51 -$34 $226 $121 $289 $570 $293 $47 $215 $73 $690 $86 $66 $19 -$8 -$184 $235 $111

-$136 $63 $199 $279 $231 -$668 -$63 $253 $146 $349 $221 $1,007 $615 $186 $25 $101 $700 $88 $85 -$1,341 $14 -$491 $85 $124

-$395 -$33 -$436 $57 -$149 $689 -$75 -$161 -$56 -$66 $58 -$780 -$8 -$51 -$158 -$23 $208 -$35 -$28 -$892 -$101 -$600 -$138 -$61

8% 6% 10% 7% 6% 8% -3% -2% 8% 3% 9% 7% 10% 4% 5% 17% 8% 6% 3% 1% -1% -2% 5% 6%


38

47


#


July 28, 2017

Segment Large Cap Small Cap ATW 3 BAS BOOM 3 BRS 3 CFW CN CORR FTK GEOS HCLP HLX KEG NE NR POWL 3 STEP CN TESO THR 3 TOT CN TTI


47

58

23

59

24

Days Sales



TTM Net Inc 3/31/2017

Outstanding

($MM)

($MM)

($MM)

38

ROA(1)



79.3 63.4 77.3 57.5 94.9 NA 66.8 74.2 72.4 46.9 66.2 70.4 109.3 65.0 NA 118.4 84.4 77.2 62.6 75.7 72.4

$388 -$46 $5 $83 -$22 $72 $61 -$33 -$4 $107 -$310 $1,140 $13 $22 $20 -$39 $40 $17 $86 $84 $20

$684 -$64 -$13 $171 -$110 $42 -$7 -$37 $56 -$187 -$847 $1,554 -$55 $34 NA -$45 $60 $49 $186 $82 $14

$85 -$79 -$9 -$171 -$164 $34 -$31 -$47 -$36 -$70 -$107 -$1,337 -$28 $9 $9 -$75 $15 -$11 -$76 -$110 -$36

8% -6% 3% 3% -1% 11% 16% -14% 0% 4% -51% 10% 2% 5% 5% -12% 9% 3% 7% 0% 3%



47.3 137.8 95.0 72.8 83.4 49.1 50.4 71.8 31.2 70.0 59.2 99.5 135.7 72.6 192.3 70.1 69.7 84.9 106.6 NA 185.1 89.2 72.7

-$6 $441 -$71 -$11 -$2 -$9 $18 $6 $31 $28 $10 -$3 $27 $10 $32 -$1 $1,622 $9 $53 -$15 $12 $104 $10

NA $523 -$109 $6 $5 -$9 -$12 $16 -$38 -$107 -$16 -$1 $139 $17 $34 -$9 $1,798 -$7 $195 -$25 $66 $123 $2

-$7 -$588 -$88 -$40 -$7 -$18 -$4 -$28 -$53 -$132 -$126 -$46 -$175 -$6 -$32 -$7 -$190 -$16 -$660 -$50 -$29 -$110 -$40

-18% 10% -10% -6% -5% -16% 6% 2% 11% 4% 1% -1% 2% 25% 15% -2% 8% 4% 1% -4% 4% 1% 2%



39


#

2

July 28, 2017


Mid Cap 3

3

3

3 3 3

3 4


36

(1)

ROIC

39

ROPPE

40

34

ECI Value Drivers Op

(1)

Profit %

Debt/ MktCap

37

46

(1)

ROE

P/CFPS 2017E(2)



7% 2% 32% 34% 12% 9% 12% 14% 17% 26% 2% 9% 6% 15% 5% 9% 9% 29% 9% 6% 4% 13% 9%

10% 13% 89% 95% 26% 8% 12% 15% 14% 94% 12% 11% 5% 49% 7% 9% 42% 29% 13% 12% 8% 27% 13%

15% -9% 14% 3% -22% -15% 42% 13% 15% 7% -34% 21% -48% 4% -19% 25% -7% 13% 25% 0% -36% 0% 4%

72% 2% 5% 25% 29% 9% 62% 20% 23% 25% 26% 27% 15% 9% 0% 247% 20% 18% 84% 4% 179% 43% 23%

14% 2% 74% 30% 25% 9% 33% 18% 32% 47% 3% 15% 6% 17% 4% 12% 13% 24% 27% 6% 20% 20% 17%

8.7x NA 26.3x 9.1x 9.8x 9.8x 9.4x 14.8x 10.6x 9.6x 15.5x 11.4x 5.6x 9.3x 10.0x 7.5x 11.7x 8.3x 10.0x 17.2x 6.6x 11.1x 9.8x



18% 6% 11% 11% 7% 9% -4% -3% 11% 11% 16% 9% 16% 4% 6% 34% 10% 8% 6% 1% -1% -4% 8% 8%

133% 21% 11% 31% 6% 10% -34% -6% 14% 85% 17% 9% 26% 9% 6% 52% 10% 9% 8% 1% -2% -5% 19% 10%

-3% 0% -28% 13% -21% 28% -21% -44% -3% 1% 7% -14% 1% -11% -17% 3% 25% -2% -4% -72% -22% -19% -9% -3%

129% 22% 120% 0% 72% 306% 30% 0% 46% 33% 39% 163% 32% 2% 171% 0% 174% 13% 22% 75% 11% 109% 71% 36%

41% 10% 17% 7% 10% 14% -4% -3% 20% 15% 18% 18% 20% 4% 11% 19% 13% 9% 5% 2% -2% -5% 11% 11%

3.6x 9.9x 4.1x 27.3x 4.0x 5.4x 13.8x 21.4x 8.2x 8.7x 8.6x 2.5x 10.9x 6.3x 3.1x 15.6x 10.6x 8.7x 5.3x 4.6x 5.3x 15.5x 9.3x 8.4x


40

47



#

2

July 28, 2017



47

36

(1)

ROIC

39

ROPPE

40

ECI Value Drivers Op

(1)

Profit %

34

Debt/ MktCap

37

46

(1)

ROE

P/CFPS 2017E(2)



9% -8% 4% 3% -2% 11% 19% -16% 0% 7% -85% 12% 2% 9% 6% -18% 12% 3% 9% -1% 4%

9% -9% 9% 4% -2% 12% 83% -48% 0% 6% -81% 12% 4% 16% 7% -34% 93% 5% 9% 5% 6%

16% -43% -5% -7% -23% 85% -5% -71% -10% -10% -71% -43% -7% 2% 10% -54% 9% -6% -7% -13% -7%

202% 38% 10% 481% 209% 50% 10% 0% 26% 64% 65% 409% 23% 1% 7% 0% 14% 11% 197% 96% 26%

11% -12% 5% 6% -5% 17% 22% -15% -1% 7% -154% 18% 3% 7% 7% -13% 13% 4% 22% -3% 6%

-25.2x 4.0x NA 2.9x 4.2x NA 6.7x NA 3.0x 11.7x 4.2x 4.4x 10.1x NA NA 17.1x 14.6x 6.6x 2.4x 4.8x 4.3x



-26% 13% -12% -8% -5% -22% 8% 2% 23% 5% 2% -2% 3% 37% 44% -2% 9% 5% 2% -9% 5% 3% 2%

-86% 117% -15% -11% -6% -23% 20% 2% 50% 4% 2% -3% 4% 35% 78% -6% 10% 6% 2% -41% 5% 7% 2%

-19% -36% -115% -40% NA -159% -2% -101% -15% NA -37% -31% -29% NA 5% -70% NA -17% -96% NA -205% -60% -36%

39% 2743% 41% 2% 154% 52% 0% 26% 358% 285% 209% 12% 364% 0% 131% 75% 4976% 23% 7063% 67% 0% 791% 67%

-46% 44% -12% -7% -14% -84% 7% 2% 99% 13% 4% -2% 7% 29% 67% -4% 16% 6% 3% -12% 4% 6% 4%

NC NA NC 2.5x NA 6.8x 16.6x 4.8x NC NC NC 3.0x 2.5x NA NC 3.0x 0.4x 2.3x -0.6x NA 8.3x 4.5x 3.0x



41

#

2


July 28, 2017


Mid Cap 3

3

3

3 3 3

3 4


EBITDA Margin%

41

TTM Unlevered FCF/Shr

43

EV/ EBITDA

56

Book Value per Share

44

Capital Intensity

48

50

49

Stock Performance Week

Q3'17

YTD



29% 10% 19% 5% 14% 26% 54% 24% 22% 0% 5% 27% 18% 7% 4% 52% 19% 36% 53% 16% 6% 21% 19%

$1.47 $1.10 $2.23 $5.24 $1.58 $1.18 $2.34 $1.16 -$0.16 $4.91 $0.31 -$2.04 $0.02 $2.42 -$0.01 $1.95 $2.45 $3.10 $1.19 $0.11 $0.14 $1.46 $1.19

14.0 x 50.5 x 41.4 x 6.0 x 20.9 x 14.1 x 13.7 x 9.5 x 14.8 x 8.8 x 40.2 x 18.0 x 25.1 x 9.3 x 132.5 x 4.7 x 21.3 x 2.8 x 15.1 x 26.6 x 32.8 x 24.9 x 15.1 x

$21.08 NA $3.38 $23.04 $10.32 $40.04 $8.80 $45.03 $10.22 $13.84 $36.63 $17.30 $16.00 $22.93 $3.71 $40.67 $29.23 NA $23.66 NA $1.66 $20.42 $19.19

64% -49% 13% 26% 38% 66% 19% 85% 105% 25% 68% 164% 98% 37% 104% 59% 36% 24% 85% 91% 58% 58% 59%

-2% 9% -4% -1% -3% -4% -1% -3% -2% 2% -1% -2% -1% 2% 4% 2% 3% -1% -2% 0% -3% 0% -1%

-3% -32% 0% -3% 1% -5% -3% -7% -4% 2% 1% -2% -3% 2% 7% 6% 4% 8% 3% 2% 10% -1% 1%

-15% -43% -15% -15% -21% -33% -17% -6% -4% 21% -12% 1% -28% -4% 9% -41% -19% 16% 5% -11% -14% -12% -14%



7% 9% 42% 20% 21% 46% -9% -8% 4% 3% 12% 26% 14% 7% 22% 42% 40% 5% 10% 1% -2% -6% 14% 10%

$6.08 $0.08 $0.07 $2.05 $0.76 $2.24 -$0.70 -$0.36 $0.20 $0.79 $0.10 $0.42 $1.59 $0.43 $0.06 $0.79 $4.56 $0.20 $0.00 -$0.29 -$0.03 -$0.77 $0.83 $0.20

6.1 x 34.4 x 5.5 x 13.0 x 9.9 x 5.6 x NA NA 14.4 x 19.4 x 7.4 x 10.0 x 9.7 x 27.8 x 13.4 x 19.0 x 4.1 x 19.6 x 33.6 x 151.1 x NA NA 22.4 x 13.2 x

$14.51 $2.22 $27.51 $36.16 $11.63 $27.08 $12.78 $5.71 $8.10 $5.61 $6.49 $11.12 $15.16 $23.04 $6.61 $4.49 $42.28 $5.72 $15.71 $7.93 $2.62 $7.05 $13.62 $9.61

8% 62% 98% 23% 32% 39% NA NA 87% 9% 90% 79% 47% 53% 92% 9% 17% 62% 101% 338% NA NA 69% 58%

4% 3% 4% -8% 1% -1% -8% -2% -2% -3% -4% 2% 5% 0% -1% 2% 4% 8% -5% 5% 3% -5% 0% 1%

-6% 9% 11% -7% -5% 3% -13% 0% -4% -2% -4% -3% 12% -2% -15% -5% 14% 4% -18% 7% 4% -3% -1% -2%

-42% -18% -32% -24% -29% -45% -38% -33% -16% -11% -7% -52% -9% -32% -49% -7% -39% -21% -49% -34% -18% -21% -28% -31%


42

27


#

2


July 28, 2017



27

EBITDA Margin%

41

TTM Unlevered FCF/Shr

43

EV/ EBITDA

56

Book Value per Share

44

Capital Intensity

48

50

49

Stock Performance Week

Q3'17

YTD



52% -8% 0% 6% -3% 81% 21% -48% -1% 21% -76% 56% 3% 5% 17% -29% 15% 7% 12% 7% 6%

$2.30 -$3.83 -$0.12 -$1.47 -$0.52 $6.03 $0.85 -$2.59 -$0.71 -$0.71 -$15.84 $2.03 -$0.23 $1.62 $0.66 -$0.98 $0.99 $0.11 $0.55 -$0.62 -$0.12

3.9 x NA 44.5 x 17.5 x NA 9.8 x 8.6 x NA NA 9.5 x NA 4.6 x 58.3 x 12.8 x 30.9 x NA 15.6 x 37.0 x 12.8 x 20.5 x 12.8 x

$42.24 $14.62 $7.56 $36.61 $3.62 $29.28 $4.83 $16.75 $8.09 $10.11 $10.01 $22.32 $5.96 $26.81 $5.69 $6.36 $9.55 $12.00 $2.03 $14.44 $10.01

52% NA 136% 162% NA 1% 21% NA NA 197% NA 56% 248% 16% -101% NA 21% 70% 27% 70% 52%

1% -13% 2% 1% 8% 1% -2% 9% -10% 13% 1% 1% 7% -2% 8% -2% -2% 1% 0% 1% 1%

-2% -4% 8% -1% 39% 6% -6% 11% -23% 14% -2% 12% 7% 3% 9% -1% -5% -9% 1% 3% 1%

-39% -33% -10% -63% -27% 2% -11% -25% -58% -27% -41% -32% 5% -16% -4% -47% -5% -17% -44% -26% -27%



-17% 39% -68% -9% 0% -100% 8% 9% 17% 13% 3% -2% 7% 65% 16% -6% 57% 10% 9% -2% 32% 4% 8%

-$0.81 $15.23 -$2.68 -$0.85 -$0.07 -$0.30 $0.80 -$0.48 $2.55 $0.16 -$0.53 -$0.21 -$0.06 $0.18 $2.85 -$0.04 $2.94 $0.00 $0.91 -$0.29 -$2.84 $0.78 -$0.06

NA 5.6 x NA NA NA NA 7.3 x 29.1 x 4.8 x 15.4 x 53.4 x NA 21.7 x 13.4 x 1.8 x NA 5.5 x 11.9 x 26.0 x NA 5.5 x 15.5 x 11.9 x

$0.99 NA $21.76 $7.47 $0.29 $0.74 $17.24 $6.65 $2.60 $2.43 $3.33 $3.45 $2.71 $0.63 $4.47 $0.57 NA $2.47 $34.70 $1.89 $3.88 $6.22 $2.71

NA 24% NA NA NA NA 35% 395% 4% 50% 505% NA 132% 0% 17% NA 8% 101% 48% NA 1846% 243% 48%

5% -1% -4% 3% -4% -10% -2% 2% 10% 3% -2% 1% -15% 0% 3% -1% -13% 2% 5% -1% 2% -1% 0%

13% 1% -4% 6% 8% 20% -2% 0% -15% -12% 12% -12% -15% 0% -8% 22% 6% -1% 33% -17% 2% 2% 0%

29% -68% -37% -49% -40% 56% -5% -42% -38% -45% -66% -49% -56% 9% -59% -42% -89% -16% -72% -36% -25% -35% -42%



43

EnerCom OilService Weekly July 28, 2017

Performance of Oil Service Index Week

0.0%

YTD

%Change

-5.0% -10.0% -14.1%

-15.0% -20.0% -25.0%

-26.6%

-30.0%

OSX

Stock Performance By Market Sector Week

5.0% 0.0%

-5.0%

YTD 0.3%

-0.7%

-0.6%

%Change

-10.0% -15.0%

-20.0% -22.2%

-22.8%

-25.0% -30.0%

-35.0% -40.0% -40.8%

-45.0%

Equipment

Drilling

Services / Other

Stock Performance By Market Cap 5 Day

5.0% 0.0%

%Change

-5.0%

0.0% -0.4%

YTD

1.1% -0.8%

-10.0%

-11.7%

-15.0%

-20.0% -25.0%

-25.8%

-30.0%

-28.4%

-35.0%

-35.3%

-40.0%

Large Cap

Mid Cap


44

Small Cap

Micro Cap


Footnotes General Values are in currency as reported by the company. Exchange Rates: 1 CAD = 0.80 USD; 1 AUD = 0.80 USD; 1 GBP = 1.32 USD as of 7/28/2017. E&P Weekly (1) Change in Quarterly Production from 3/31/2016 to 3/31/2017, does not include adjustments for acquisitions or divestitures. (2) Bloomberg Best estimate. Companies with no reported Bloomberg Best estimate are marked "NA." (3) Current price / Bloomberg Best estimate. Companies with no reported Bloomberg Best estimate are marked "NC." (4) TTM oil and gas sales less LOE, production taxes, G&A and net interest, all divided by TTM production as of Q1 2016. (5) In Canadian Dollars. Production replacement and 3-year F&D costs based on gross reserves with forecast prices. (6) Reserves data as of 1/31/2017. TTM Data as of 4/30/2017. (7) Reserve data as of 6/30/2016. (8) Reserve data as of 9/30/2016. (9) Trading data in Australian Dollars, financial data reported in USD. (10) Financial statement data reported on semi-annual basis as of 12/31/2016. (11) Data does not include $409 million in stock-based compensation related to IPO. (12) Financial statement data includes 6/30/2016 to 3/31/2017

45

OilService Weekly (1) Returns metrics are calculated using EBITDA. (2) Current price / Bloomberg Best estimate. Companies with no reported Bloomberg Best estimate are marked "NC". (3) In Canadian Dollars. (4) Trading and financial data in Euros. Glossary of Terms General EBITDA: Calculated as operating income plus DD&A and impairment expense. Enterprise Value (EV): The sum of market capitalization, debt, preferred equity and minority interest, less cash. Short Interest Ratio: Number of days of average daily trading volume needed to cover the short interest in a given stock. TTM: Trailing twelve months as of 3/31/17 unless otherwise noted. E&P Weekly 3-Yr F&D: Costs incurred in oil and gas activities excluding abandonment costs, divided by the sum of extensions, discoveries, revisions and purchases of proved reserves over a three-year period. The measurement period in this report is 2014-2016. 3-Yr Production Replacement: Percentage of production replaced through extensions, discoveries, revisions and purchases of proved reserves over a three-year period. The measurement period in this report is 2014-2016. Asset Intensity: An indicator of an E&P company’s future growth potential. Calculated as trailing twelve month production multiplied by 3-Year F&D cost all divided by trailing twelve month cash flow from operations. Capital Efficiency: A metric that approximates cash flow generated for each investment dollar. Calculated as (trailing twelve month EBITDA / trailing twelve month production)/ 3-Year F&D cost per Mcfe. EV/2016 Reserves: Enterprise value divided by proved reserves. A valuation metric that assigns a market-based valuation per unit of SEC proved reserves. EV/TTM Production: Enterprise value divided by trailing twelve month production per day. A metric that assigns a market-based valuation per flowing unit of production. GA: General and administrative expense, includes stock-based compensation. Natural Gas %: The percentage of total proved reserves that are natural gas reserves. Operating Expense: Includes lease operating expense, production tax and transportation expense. 46

PUD %: The percentage of total proved reserves that are categorized proved undeveloped. Reserve Life: Proved reserves divided by trailing twelve month production. TTM Cash Margin/Mcfe: TTM oil and gas sales minus LOE, production taxes, transportation expense, G&A and net interest all divided by TTM production. TTM EBITDA/Mcfe: A metric that assigns an earnings-based valuation per unit of production. Calculated as trailing twelve month EBITDA for all business units divided by TTM production. TTM OPEX & GA: Trailing twelve month operating and general and administrative expense. OilService Weekly Capital Intensity: Trailing twelve month capital expenditures divided by trailing twelve month EBITDA. Capital Intensity is a key performance metric we use to compare OilService company performance and long-term return potential. This metric provides an estimate of the investment needed to generate $1.00 in EBITDA. Days Sales Outstanding: A measure of efficiency of a company’s collection efforts. Calculated as number of days in the period divided by (sales/accounts receivable). Unlevered FCF/Shr: Trailing twelve month free cash flow per share. Calculated as trailing twelve month EBITDA less trailing twelve month capital expenditures all divided by shares outstanding. Op Profit %: Operating profit percentage. Calculated as trailing twelve month gross margin less trailing twelve month general and administrative expense, divided by trailing twelve month revenue. ROA: Return on Assets. Calculated as trailing twelve month EBITDA divided by total assets. ROE: Return on Equity. Calculated as trailing twelve month EBITDA divided by shareholders’ equity. ROIC: Return on Invested Capital. Calculated as trailing twelve month EBITDA divided by the sum of total equity and net debt. ROPPE: Return on Property Plant and Equipment. Calculated as trailing twelve month EBITDA divided by net property plant and equipment.

47

Domicile: Calgary, AB

Ticker: AAV CN

Exchange: Toronto

Sector: Oil & Gas Producers

Float: 185.09 MM

Mkt Cap: $1663.98 MM

Annual

720K ‐16.45 65.80 51.94 ‐78.94 ‐0.37

2015 0.13 0.59 18% 2% ‐23% 159.22

200D MAVG

1,839K ‐16.98 ‐17.75 49.98 ‐85.64 ‐0.38

2014 0.09 1.08 73% 13% 55% 205.58

352K ‐15.23 185.00 54.65 ‐69.42 ‐0.19

2016 ‐0.09 0.91 ‐10% 3% 32% 210.13

50D MAVG

SPX

NET DEBT TO CAPITAL DIVIDEND WACC BETA ALPHA

3000

Mar 17 11% N/A 11% 1.09 0.21

1000

500

0

4

2

0

1 2 3 4 5 6 7 8 9 10

Change ‐4% ‐2122% 14%

21,463,296 10,375,760 9,563,681 9,116,441 8,228,819 6,628,101 5,895,604 5,765,992 4,158,450 3,679,123

Dec 16 1% ‐3% 8

Dec 15 1% 0% 7 % OF SHARES HELD % CHANGE IN HOLDINGS (6 MO) # OF HOLDERS

Top 10 Holders (Shares Held) BURGUNDY ASSET MANAGEMENT T ROWE PRICE GROUP INC POWER CORP OF CANADA FRANKLIN RESOURCES DIMENSIONAL FUND ADVISORS LP JVL ADVISORS LLC MONTRUSCO BOLTON INVESTMENTS INC BANK OF MONTREAL DONALD SMITH & CO INC VANGUARD GROUP

Dec 16 80% 81% 180 53 54 24 23

Dec 15 82% 83% 175 43 59 28 18 % OF SHARES HELD % OF FLOAT HELD # OF HOLDERS # OF BUYERS # OF SELLERS # OF NEW BUYERS # OF SELLOFFS

Ownership Change ‐2% ‐2% 3% 23% ‐8% ‐14% 28%

BLOOMBERG BEST ESTIMATES ‐ EPS Q2 Q3 0.14 0.08 ‐0.01 0.04 ‐0.16 0.04 0.081 E 0.094 E Q1 ‐0.45 0.02 0.08 0.23 YEAR 2014 2015 2016 2017

Sep 16 0.04 0.25 21% 2% 27% 55

BLOOMBERG BEST ESTIMATES ‐ EBITDA Q2 Q3 49.83 38.59 29.14 36.23 37.91 46.39 52.475 E 58.7 E

Jun 16 ‐0.16 0.18 ‐86% 2% 30% 47

Q1 50.43 31.30 32.60 54.36

Mar 16 0.08 0.18 50% 2% 5% 40

YEAR 2014 2015 2016 2017

Dec 15 0.07 0.12 33% 2% ‐8% 41

BLOOMBERG BEST ESTIMATES ‐ REVENUE Q1 Q2 Q3 56.07 56.84 44.86 36.19 43.29 38.46 40.49 47.10 55.09 70.82 68 E 77.433 E

Sep 15 0.04 0.21 22% 7% ‐3% 43

YEAR 2014 2015 2016 2017

Quarterly Analyst Estimates

EPS ($) CF/SHR ($) PRETAX MARGIN RETURN ON EQUITY SALES % CHANGE SALES (MIL$)

Source: EnerCom, Company filings, Bloomberg L.P., as of July 2017

1500

6

2000

1,167K ‐13.34 ‐33.19 48.73 ‐89.97 ‐0.23

2013 ‐0.02 0.98 ‐7% ‐2% ‐44% 132.56

8

CLOSE PRICE

828K ‐10.55 ‐37.50 46.90 ‐96.40 0.05

2012 ‐0.53 0.64 ‐54% ‐2% ‐22% 234.78

2500

271K ‐9.36 ‐51.43 48.08 ‐91.62 0.56

2011 ‐0.92 1.32 ‐64% ‐2% 11% 302.32 Corporate

10

12

AVG DAILY VOLUME MOMENTUM RATE OF CHANGE RELATIVE STRENGTH WILLIAMS' %R MACD

Trading and Capital Structure


Estimates

Financial Details

Estimates Estimates Institution Inside

Trading Data

Stock Price

Quarter

Mar 17 0.23 0.29 82% 3% 75% 71

Q4 0.32 0.07 ‐0.05 0.11 E

Q4 38.85 33.62 55.14 61.733 E

Q4 44.98 41.28 67.45 82 E

Dec 16 ‐0.05 0.30 ‐17% 3% 63% 67

Advantage Oil & Gas Ltd. is a growth‐oriented corporation focused entirely on development of its significant position in the Montney natural gas and liquids resource play. The Corporation’s common shares trade on the Toronto and New York Stock Exchanges under the symbol AAV with its head office in Calgary, Alberta, Canada.

Advantage Oil & Gas Ltd

Advantage Oil & Gas Ltd

SPX

49

Domicile: Fort Worth, TX

Ticker: AREX

Exchange: NASDAQ GS

0

5

10

15

20

25

30

35

40


‐‐ ‐‐

‐‐



Financial Details

1.52

128.69

58K

2011 0.25 3.31 10% 5% 76% 111.76

‐‐ ‐‐

‐‐ ‐‐ ‐‐

‐‐

CLOSE PRICE

2.15

242.13

70K

2012 0.18 2.59 8% 1% 15% 128.78

2.17

150.00

231K

2013 1.85 3.22 64% 2% 40% 180.25

‐‐ ‐‐

‐‐ ‐‐ ‐‐

‐‐

‐0.06

‐93.74

463K

2015 ‐4.30 2.54 ‐146% ‐2% ‐30% 183.83

200D MAVG

1.13

‐72.34

387K

2014 1.43 4.35 34% 4% 45% 260.89

‐‐ ‐‐

‐‐

‐0.88

‐86.61

898K

2016 ‐1.26 0.63 ‐79% ‐8% ‐48% 96.43

50D MAVG

Corporate


Float: 86.28 MM

Mkt Cap: $261.45 MM

SPX


1 2 3 4 5 6 7 8 9 10

Change 3% ‐46% ‐15%

35,789,300 6,140,300 2,061,570 1,956,314 1,611,388 1,610,783 1,587,842 1,413,378 1,294,641 1,170,382

Dec 16 11% 1% 11


Top 10 Holders (Shares Held) WILKS BROTHERS LLC SDW INVESTMENTS GUGGENHEIM CRAFT J ROSS VANGUARD GROUP NEW GENERATION ADVISORS LLC FIRST MANHATTAN CO ASSET MGMT STATE OF CALIFORNIA BLACKROCK MARATHON ASSET MANAGEMENT LP

Dec 16 58% 64% 106 17 37 19 34


Ownership Change ‐40% ‐40% ‐39% ‐63% ‐36% 12% ‐23%

Q4 0.68 ‐0.14 ‐0.32 ‐0.077 E

BLOOMBERG BEST ESTIMATES ‐ EPS Q2 Q3 0.10 0.57 ‐0.29 ‐3.67 ‐0.39 ‐0.22 ‐0.088 E ‐0.082 E Q1 0.08 ‐0.19 ‐0.33 ‐2.00 YEAR 2014 2015 2016 2017

Mar 17 ‐2.00 0.08 ‐8% ‐7% 20% 25

Q4 41.38 24.55 12.79 15.467 E

Dec 16 ‐0.32 0.15 ‐63% ‐8% ‐33% 27

BLOOMBERG BEST ESTIMATES ‐ EBITDA Q2 Q3 47.85 47.79 29.32 ‐194.54 9.30 11.75 14.033 E 15.583 E

Sep 16 ‐0.22 0.29 ‐57% ‐6% ‐47% 25

Q1 39.30 30.03 6.48 11.90

Jun 16 ‐0.39 0.07 ‐104% ‐5% ‐50% 24

YEAR 2014 2015 2016 2017

Mar 16 ‐0.33 0.13 ‐99% ‐4% ‐57% 21

Q4 62.85 40.04 26.95 29.213 E

Dec 15 ‐0.14 0.50 ‐15% ‐2% ‐36% 40

BLOOMBERG BEST ESTIMATES ‐ REVENUE Q1 Q2 Q3 60.59 70.09 67.36 49.20 47.89 46.70 21.12 23.84 24.53 25.39 26.25 E 27.538 E

Sep 15 ‐3.67 0.80 ‐494% ‐1% ‐31% 47

YEAR 2014 2015 2016 2017




0

500

1000

1500

2000

2500

3000

Mar 17 47% N/A 11% 2.91 0.41

Approach Resources Inc. is an independent energy company. The Company explores, develops, produces and acquires natural gas, NGL and crude oil reserves. Approach Resources focuses on pad drilling, horizontal drilling, and hydraulic fracturing operations within the greater Permian Basin in West Texas.

Approach Resources Inc

Approach Resources Inc

Estimates

Annual

Trading Data

Stock Price

Quarter Estimates Estimates Institution Inside

50 SPX


Ticker: BAS

Exchange: New York

Sector: Oil Equipment, Services & Distribution Float: 26.00 MM

Mkt Cap: $741.79 MM

Annual

0 12/30/2016

5

10

15

20

25

30

35

40

45

50


‐‐ ‐‐ ‐‐ ‐‐ ‐‐ ‐‐



2011 1.17 6.92 6% 25% 71% 1243.26

‐‐ ‐‐ ‐‐ ‐‐ ‐‐ ‐‐

‐‐ ‐‐ ‐‐ ‐‐ ‐‐ ‐‐

2013 ‐0.89 4.11 ‐4% ‐7% ‐8% 1262.90

CLOSE PRICE

2012 0.48 7.50 2% 10% 11% 1374.88

‐‐ ‐‐ ‐‐ ‐‐ ‐‐ ‐‐

‐‐ ‐‐ ‐‐ ‐‐ ‐‐ ‐‐

2015 ‐5.97 2.36 ‐46% ‐81% ‐46% 805.60

3/30/2017

200D MAVG

2014 ‐0.20 5.45 ‐1% 5% 18% 1491.28

‐‐ ‐‐ ‐‐ ‐‐ ‐‐ ‐‐

2016 ‐2.94 ‐3.61 ‐23% ‐49% ‐32% 547.50

50D MAVG

SPX

0

500

1000

1500

2000

2500

3000

Mar 17 23% N/A 8% N/A N/A

1 2 3 4 5 6 7 8 9 10

Change ‐59% ‐647% 0%

4,883,649 3,691,846 1,825,545 1,184,125 1,177,422 1,010,000 866,020 833,580 754,100 624,037

Dec 16 4% ‐62% 17


Top 10 Holders (Shares Held) SILVER POINT CAPITAL LP ASCRIBE CAPITAL LLC SUSQUEHANNA INTERNATIONAL GROUP GOLDMAN SACHS GROUP INC STATE OF CALIFORNIA MILLENNIUM MANAGEMENT LLC VICTORY CAPITAL MANAGEMENT INC CRAMER ROSENTHAL MCGLYNN LLC DISCOVERY CAPITAL MANAGEMENT LLC VANGUARD GROUP

Dec 16 32% 33% 107 28 31 12 42


Ownership Change ‐68% ‐70% ‐44% ‐65% ‐31% ‐50% 0%

Q4 ‐0.45 ‐1.33 3.45 ‐0.206 E

BLOOMBERG BEST ESTIMATES ‐ EPS Q2 Q3 0.06 0.24 ‐1.20 ‐2.63 ‐2.11 ‐2.16 ‐0.569 E ‐0.314 E Q1 ‐0.05 ‐0.81 ‐2.00 ‐1.49 YEAR 2014 2015 2016 2017

Mar 17 ‐1.49 ‐0.50 ‐21% ‐47% 40% 182

Q4 49.99 ‐8.09 ‐38.95 29.338 E

Dec 16 3.45 ‐1.94 91% ‐49% ‐3% 156

BLOOMBERG BEST ESTIMATES ‐ EBITDA Q2 Q3 72.86 87.34 1.41 ‐84.67 ‐12.10 ‐15.71 13.2 E 24.563 E

Sep 16 ‐2.16 ‐0.70 ‐65% ‐‐ ‐25% 142

Q1 65.69 27.16 ‐11.12 ‐3.83

Jun 16 ‐2.11 ‐0.50 ‐74% ‐‐ ‐38% 120

YEAR 2014 2015 2016 2017

Mar 16 ‐2.00 ‐0.50 ‐67% ‐123% ‐50% 130

Q4 400.91 161.04 155.53 265 E

Dec 15 ‐1.33 0.06 ‐53% ‐81% ‐60% 161


Sep 15 ‐2.63 0.12 ‐86% ‐47% ‐52% 189

YEAR 2014 2015 2016 2017




6/30/2017


Estimates

Financial Details


Trading Data

Stock Price

Quarter

Corporate

Basic Energy Services, Inc. provides well site services to oil and gas drilling and producing companies. The Company offers well maintenance, pumping, contract drilling, snubbing, coil tubing, and other related services. Basic Energy Services serves customers in the United States.

Basic Energy Services Inc

Basic Energy Services Inc

SPX

51


Ticker: BXE CN

Exchange: Toronto

0

10

20

30

40

50

60

70




Financial Details

29K 0.48 46.87 44.54 ‐81.06 ‐6.53

2011 ‐0.30 4.73 ‐3% 5% 54% 166.06

CLOSE PRICE

244K ‐28.31 255.83 43.91 ‐83.83 ‐6.92

2012 1.30 5.08 20% 6% 14% 189.65

56K ‐43.13 194.72 48.22 ‐68.73 ‐5.74

2013 3.15 5.69 37% 6% 29% 243.95

150K ‐111.30 ‐66.26 41.98 ‐94.97 ‐7.47

2015 ‐11.55 2.68 ‐197% ‐10% ‐33% 297.04

200D MAVG

140K ‐86.57 ‐11.88 44.49 ‐84.00 ‐6.18

2014 4.45 8.05 50% 6% 81% 442.44

555K ‐100.10 ‐70.02 41.61 ‐96.59 ‐8.55

2016 ‐0.60 0.88 ‐15% ‐9% ‐23% 229.13

50D MAVG

Corporate


Float: 49.32 MM

Mkt Cap: $151.90 MM

SPX


1 2 3 4 5 6 7 8 9 10

Change ‐10% 400% ‐25%

4,625,693 3,750,000 3,600,000 2,500,000 1,295,029 1,021,200 999,787 960,000 703,612 223,466

Dec 16 1% 19% 15


Top 10 Holders (Shares Held) SCHRODERS PLC OAKTREE CAPITAL GROUP HLDGS LP ANSON FUNDS FRIGATE VENTURES LP CONNOR CLARK & LUNN INV POLAR ASSET MANAGEMENT PARTNERS SIGNIA CAPITAL MANAGEMENT PROXIMA CAPITAL MANAGEMENT LLC CENTERBRIDGE PARTNERS DUNN WILLIAM C

Dec 16 39% 40% 81 14 17 14 19


Ownership Change ‐23% ‐6% ‐35% ‐64% ‐39% ‐26% ‐42%

Q4 1.43 ‐9.30 0.47 ‐0.209 E

BLOOMBERG BEST ESTIMATES ‐ EPS Q2 Q3 1.10 1.15 ‐0.65 ‐1.30 ‐1.40 ‐0.30 ‐0.322 E ‐0.257 E Q1 0.75 ‐0.35 0.50 0.25 YEAR 2014 2015 2016 2017

Mar 17 0.25 0.17 29% ‐9% 5% 61

Q4 132.62 ‐411.02 109.35 35.1 E

Dec 16 0.47 0.35 67% ‐9% ‐20% 58


Sep 16 ‐0.30 0.05 ‐32% ‐8% ‐22% 56

Q1 96.11 34.96 28.31 21.70

Jun 16 ‐1.40 0.20 ‐131% ‐9% ‐26% 57

YEAR 2014 2015 2016 2017

Mar 16 0.50 0.27 35% ‐9% ‐23% 58

Q4 115.29 72.64 57.93 77.833 E

Dec 15 ‐9.30 1.09 ‐667% ‐10% ‐37% 73


Sep 15 ‐1.30 0.57 ‐82% ‐6% ‐31% 72

YEAR 2014 2015 2016 2017




0

500

1000

1500

2000

2500

3000

Mar 17 30% N/A 10% 2.18 ‐1.07

Bellatrix Exploration Ltd is a Calgary, Alberta‐based intermediate energy producer focused on exploration and development of light oil and liquids‐rich natural gas. Currently the company is focusing on developing the Cardium and the Notikewin/Falherr intervals in Wester Canada.

Bellatrix Exploration Ltd

Bellatrix Exploration Ltd

Estimates

Annual

Trading Data

Stock Price


52 SPX

Domicile: Denver, CO

Ticker: BBG

Exchange: New York


Float: 76.30 MM

Annual

0

5

10

15

20

25

30

35


‐‐ ‐‐

‐‐



0.54

‐18.63

912K

2011 0.66 10.30 6% 7% 11% 757.57

‐‐ ‐‐

‐‐ ‐‐ ‐‐

‐‐

CLOSE PRICE

‐0.73

‐15.81

635K

2012 0.01 8.23 0% 1% ‐2% 742.50

‐1.00

‐13.92

626K

2013 ‐4.06 5.58 ‐54% ‐1% ‐23% 573.41

‐‐ ‐‐

‐‐ ‐‐ ‐4.11

1,393K ‐38.66 ‐88.46

2015 ‐10.10 4.01 ‐172% 20% ‐18% 387.54

200D MAVG

‐2.43

1,373K ‐23.61 ‐72.31

2014 0.31 5.45 7% ‐2% ‐18% 470.40

‐‐ ‐‐ ‐5.15

1,375K ‐33.86 ‐60.71

2016 ‐3.08 2.20 ‐62% ‐15% ‐29% 274.42

50D MAVG

SPX


Q4 1.85 ‐0.45 ‐0.79 ‐0.215 E

BLOOMBERG BEST ESTIMATES ‐ EPS Q2 Q3 ‐0.55 ‐0.72 ‐0.92 ‐8.49 ‐0.93 ‐0.44 ‐0.232 E ‐0.228 E Q1 ‐0.27 ‐0.24 ‐0.96 ‐0.18 YEAR 2014 2015 2016 2017

1 2 3 4 5 6 7 8 9 10

Change 16% ‐795% 23%

9,936,276 5,483,818 4,988,800 4,865,033 4,743,437 4,534,720 4,437,462 3,183,500 2,500,000 2,345,033

Dec 16 3% 0% 16


Top 10 Holders (Shares Held) BLACKROCK VANGUARD GROUP CAYMUS CAPITAL PARTNERS LP STATE STREET CORP JPMORGAN CHASE & CO JVL ADVISORS LLC DIMENSIONAL FUND ADVISORS LP RENAISSANCE TECHNOLOGIES LLC FRANKLIN RESOURCES BNY MELLON

Dec 16 98% 100% 241 97 59 33 20


Ownership Change ‐20% ‐20% 6% 20% ‐8% ‐13% ‐57%

Q4 35.35 62.73 41.66 41.56 E

Mar 17 ‐0.18 0.51 ‐24% ‐12% ‐13% 54

BLOOMBERG BEST ESTIMATES ‐ EBITDA Q2 Q3 81.98 ‐45.06 63.39 ‐506.38 45.67 45.15 33.067 E 36.26 E

Sep 16 ‐0.44 1.15 ‐37% ‐5% ‐26% 71

Q1 65.53 59.18 35.52 26.14

Jun 16 ‐0.93 0.16 ‐67% ‐9% ‐27% 72

YEAR 2014 2015 2016 2017

Mar 16 ‐0.96 0.84 ‐75% ‐8% ‐35% 62

Q4 86.59 97.38 68.80 71.243 E

Dec 15 ‐0.45 0.57 ‐22% ‐7% 12% 97


Sep 15 ‐8.49 1.55 ‐579% ‐10% ‐28% 96

YEAR 2014 2015 2016 2017




0

500

1000

1500

2000

2500

3000

Mar 17 43% N/A 8% 1.99 ‐0.03

Estimates

Financial Details Dec 16 ‐0.79 0.09 ‐72% ‐11% ‐29% 69

Mkt Cap: $257.12 MM


Trading Data

Stock Price

Quarter

Corporate

Bill Barrett Corporation is a Denver‐based exploration and production company focused on the development of oil and natural gas assets located in the Denver‐Julesburg (“DJ”) Basin of Colorado and the Uinta Basin of Utah.

Bill Barrett Corp

Bill Barrett Corp

SPX

53

Domicile: Houston, TX

Ticker: BSM

Exchange: New York

0 5/1/2015

5

10

15

20

25

8/1/2015


‐‐ ‐‐ ‐‐ ‐‐ ‐‐ ‐‐



Financial Details

‐‐ ‐‐ ‐‐ ‐‐ ‐‐ ‐‐

11/1/2015

2011 ‐‐ ‐‐ ‐‐ ‐‐ ‐‐ ‐‐

‐‐ ‐‐ ‐‐ ‐‐ ‐‐ ‐‐

2013 0.07 0.15 36% ‐‐ ‐‐ 463.56

2/1/2016

CLOSE PRICE

2012 ‐‐ ‐‐ ‐‐ ‐‐ ‐‐ ‐‐

‐‐ ‐‐ ‐‐ ‐‐ ‐‐ ‐‐

‐‐ ‐‐ ‐‐ ‐‐ ‐‐ ‐‐

2015 ‐0.56 1.49 ‐28% 5% ‐28% 365.86

5/1/2016

‐‐ ‐‐ ‐‐ ‐‐ ‐‐ ‐‐

8/1/2016

200D MAVG

2014 ‐‐ ‐‐ 33% 32% 10% 509.04

2016 0.08 1.03 8% 8% ‐29% 260.83

11/1/2016

50D MAVG

Corporate


Float: 97.70 MM


2/1/2017

SPX

0

500

1000

1500

2000

2500

3000

Mar 17 30% 0.29 6% 0.55 0.16

1 2 3 4 5 6 7 8 9 10

Change ‐4% ‐55% 19%

4,970,834 4,317,688 4,205,170 3,924,567 3,907,028 2,973,063 2,629,657 1,805,483 1,641,941 1,639,748

Dec 16 11% 1% 19


Top 10 Holders (Shares Held) CARTER2221 LTD MAYO CLINIC WILLIAM MARSH RICE UNIVERSITY STUART ALEXANDER MAYO CLINIC/ROCHESTER MN MORGAN STANLEY ZIONS BANCORPORATION RANDALL WILLIAM E LONGMAID JOHN H FMR LLC

Dec 16 21% 23% 84 21 19 19 10


Change ‐32% ‐16% 79% 50% 36% 73% 150%

Q4 N/A ‐0.27 ‐0.05 0.192 E

BLOOMBERG BEST ESTIMATES ‐ EPS Q2 Q3 N/A N/A ‐0.65 0.27 ‐0.12 0.19 0.182 E 0.175 E Q1 N/A 0.09 0.05 0.31 YEAR 2014 2015 2016 2017

Ownership

Mar 17 0.31 0.33 49% 13% 94% 125

Q4 133.60 83.90 56.71 100.875 E

Dec 16 ‐0.05 0.29 ‐13% 8% ‐32% 57

Q4 ‐25.26 ‐44.78 18.85 73.1 E

Sep 16 0.19 0.30 38% 6% ‐28% 99

BLOOMBERG BEST ESTIMATES ‐ EBITDA Q2 Q3 N/A N/A ‐88.99 77.99 9.72 68.05 68.525 E 70.433 E

Jun 16 ‐0.12 0.30 ‐51% 7% ‐37% 41

Q1 N/A 48.08 33.33 91.39

Mar 16 0.05 0.14 17% 3% ‐29% 64

YEAR 2014 2015 2016 2017

Dec 15 ‐0.27 0.35 ‐59% 5% ‐37% 84

BLOOMBERG BEST ESTIMATES ‐ REVENUE Q1 Q2 Q3 N/A N/A N/A 91.06 64.80 137.02 64.38 40.57 99.17 124.58 96.65 E 97.65 E

Sep 15 0.27 0.38 39% ‐‐ ‐‐ 137

YEAR 2014 2015 2016 2017




5/1/2017


Black Stone Minerals is one of the largest owners of oil and natural gas mineral interests in the United States. The Partnership owns mineral interests and royalty interests in over 40 states and 60 onshore basins in the continental United States. The Partnership also owns and selectively participates as a non‐operating working interest partner in established development programs, primarily on its mineral and royalty holdings.

Black Stone Minerals LP

Black Stone Minerals LP

Estimates

Annual

Trading Data

Stock Price


54 SPX


Ticker: BBI CN

Exchange: Venture



0

0.1

0.2

0.3

0.4

0.5

0.6

0.7

0.8


N/A ‐‐ ‐‐ ‐‐ ‐‐


Annual

Financial Details

0.01

2011 ‐0.01 ‐0.01 ‐‐ ‐11% ‐‐ 0.00

‐‐ ‐‐ ‐‐ ‐‐ ‐‐ ‐‐

‐‐

CLOSE PRICE

0.01

45K

2012 ‐0.08 ‐0.01 ‐3081% ‐40% ‐‐ 0.15

0.00

‐50.00

52K

2013 ‐0.04 0.00 ‐477% ‐25% 454% 0.84

‐‐ ‐‐

‐‐ ‐‐ ‐‐

‐‐

0.01

‐22.86

47K

2015 ‐0.02 ‐0.01 ‐4776% ‐12% ‐44% 0.15

200D MAVG

0.01

59.26

255K

2014 ‐0.02 ‐0.01 ‐1117% ‐28% ‐68% 0.27

‐‐ ‐‐

‐‐

0.02

133.33

214K

2016 0.00 ‐0.01 1776% ‐5% ‐78% 0.03

50D MAVG

SPX


Q1 0.23 0.08 0.01 0.02 Q1 ‐0.21 ‐1.93 N/A ‐0.6 E Q1 ‐0.01 ‐0.01 ‐0.01 0.00

YEAR 2014 2015 2016 2017 YEAR 2014 2015 2016 2017 YEAR 2014 2015 2016 2017

1 2 3 4 5 6 7 8 9 10

Change ‐43% ‐227% ‐8%

Change ‐1% ‐7% 50% N/A 0% 100% 0%

Q3 0.00 0.00 0.00 0.00

88,025,300 65,436,000 24,074,138 14,228,000 10,267,231 1,887,000 1,610,631 1,134,500 800,000 794,300

Dec 16 7% ‐3% 11


Top 10 Holders (Shares Held) GMT CAPITAL CORP VERTEX ONE ASSET MANAGEMENT INC CAMPBELL SEAN NORDEA BANK AB BRAUN GARTH MACDONALD WILLIAM L SCHMITZ RON A ALLEN RALPH ASTON HILL ASSET MANAGEMENT INC NOAKES DON

Dec 16 21% 23% 6 1 1 2 1

Dec 15 21% 25% 4 0 1 1 1

BLOOMBERG BEST ESTIMATES ‐ EPS Q2 ‐0.01 0.00 0.02 ‐0.01

% OF SHARES HELD % OF FLOAT HELD # OF HOLDERS # OF BUYERS # OF SELLERS # OF NEW BUYERS # OF SELLOFFS

Ownership

Jan 17 ‐0.01 0.00 ‐2638% ‐12% 3367% 0

Q4 ‐0.01 ‐0.01 0.00 N/A

Q4 0.16 ‐3.67 ‐1.01 N/A

Oct 16 0.00 0.00 ‐4747% ‐7% 67% 0

BLOOMBERG BEST ESTIMATES ‐ EBITDA Q2 Q3 ‐0.86 ‐0.51 ‐1.48 ‐1.06 N/A N/A N/A ‐0.81

Jul 16 0.00 0.00 ‐10175% ‐8% ‐‐ 0

Q4 N/A N/A 0.01 N/A

Apr 16 0.00 0.00 ‐7200% ‐11% ‐‐ 0

Mkt Cap: $260.90 MM

BLOOMBERG BEST ESTIMATES ‐ REVENUE Q2 Q3 0.21 0.14 0.05 0.00 0.00 0.01 0.10 3.09



Oct 15 Jan 16 ‐0.01 0.02 0.00 0.00 ‐37433% 190167% ‐6% ‐11% ‐88% ‐94% 0 0

Float: 745.43 MM


0

500

1000

1500

2000

2500

3000

Apr 17 ‐61% N/A 20% 1.94 1.18

Estimates Estimates Estimates Institution Inside

Trading Data

Stock Price

Quarter

Corporate

Blackbird Energy Inc. is an oil and gas exploration and development company focused on the condensate and liquids‐rich Montney fairway at Elmworth, near Grande Prairie, Alberta.

Blackbird Energy Inc

Blackbird Energy Inc

SPX

55

Apr 17 0.00 0.00 ‐28% ‐8% 23631% 3

Domicile: Oklahoma City, OK

Ticker: BKEP

Exchange: NASDAQ GM

0

1

2

3

4

5

6

7

8

9

10


‐‐ ‐‐

‐‐



Financial Details

‐4.92

‐77.35

186K

2011 ‐0.65 1.20 19% ‐‐ 16% 176.71

‐‐ ‐‐

‐‐ ‐‐ ‐‐

‐‐

CLOSE PRICE

‐5.46

161.11

36K

2012 0.33 2.72 17% ‐‐ 1% 178.85

‐5.68

‐3.19

61K

2013 0.26 2.67 16% ‐‐ 9% 194.67

‐‐ ‐‐

‐‐ ‐‐ ‐‐

‐‐

‐6.14

‐13.94

36K

2015 ‐0.47 1.84 4% ‐‐ ‐4% 180.03

200D MAVG

‐5.93

‐14.19

52K

2014 0.20 2.27 15% ‐‐ ‐4% 186.63

‐‐ ‐‐

‐‐

‐6.13

4.10

20K

2016 ‐0.87 1.51 ‐3% ‐‐ ‐1% 177.39

50D MAVG

Corporate


Mkt Cap: $225.12 MM

SPX


1 2 3 4 5 6 7 8 9 10

Change 11% 136% 22%

6,272,772 3,368,894 3,256,390 3,192,195 2,034,054 1,372,606 847,457 519,125 452,002 404,949

Dec 16 3% 4% 11


Top 10 Holders (Shares Held) NEUBERGER BERMAN GROUP LLC CLEARBRIDGE MSD CAPITAL LP CUSHING ASSET MANAGEMENT, LP MASSACHUSETTS MUTUAL LIFE INS BANK OF AMERICA CORPORATION ERGON INC CITIGROUP INCORPORATED PRESCOTT GROUP CAPITAL MGMT HURLEY MARK A

Dec 16 61% 65% 52 11 12 12 8


Ownership Change ‐12% ‐9% 8% 0% ‐20% 100% 100%

Q4 0.10 ‐0.67 ‐0.18 0.013 E

BLOOMBERG BEST ESTIMATES ‐ EPS Q2 Q3 ‐0.08 0.23 0.06 0.24 ‐0.71 0.13 ‐0.03 E 0.173 E Q1 ‐0.07 ‐0.12 ‐0.14 ‐0.08 YEAR 2014 2015 2016 2017

Mar 17 ‐0.08 0.20 8% ‐‐ 13% 46

Q4 16.39 ‐9.72 11.80 18.917 E

Dec 16 ‐0.18 0.34 4% ‐‐ 5% 46

BLOOMBERG BEST ESTIMATES ‐ EBITDA Q2 Q3 13.41 18.37 15.22 23.77 ‐7.66 21.02 17.567 E 24.533 E

Sep 16 0.13 0.58 25% ‐‐ ‐1% 47

Q1 12.77 11.94 12.15 14.62

Jun 16 ‐0.71 0.43 ‐43% ‐‐ ‐7% 43

YEAR 2014 2015 2016 2017

Mar 16 ‐0.14 0.14 2% ‐‐ ‐3% 41

Q4 46.03 43.88 46.02 48.42 E

Dec 15 ‐0.67 0.53 ‐38% ‐‐ ‐5% 44


Sep 15 0.24 0.73 30% ‐‐ ‐2% 47

YEAR 2014 2015 2016 2017




0

500

1000

1500

2000

2500

3000

Mar 17 93% 0.15 7% 1.06 ‐0.25

Blueknight Energy Partners LP owns, operates, and develops a diversified portfolio of complementary midstream energy assets. The Company provides crude oil gathering, transporting, terminalling and storing energy commodities from coast to coast.

Blueknight Energy Partners LP

Blueknight Energy Partners LP

Estimates

Annual

Trading Data

Stock Price


56 SPX


Ticker: COG

Exchange: New York



0

5

10

15

20

25

30

35

40

45



Annual

Financial Details

9,875K 16.11 88.01 79.29 ‐16.32 2.88

2011 0.30 1.20 24% 4% 14% 979.86

4,689K 36.22 255.68 88.98 ‐4.03 5.93

2013 0.67 2.44 28% 12% 45% 1746.28

CLOSE PRICE

5,393K 22.66 282.62 83.41 ‐2.92 4.00

2012 0.32 1.56 20% 5% 23% 1204.55

4,862K 11.00 ‐6.77 56.60 ‐59.78 6.19

2015 ‐0.28 1.79 ‐13% 2% ‐27% 1494.75

200D MAVG

14,492K 25.54 212.92 71.87 ‐30.10 6.65

2014 0.25 2.97 2% 23% 17% 2035.41

4,856K 15.05 ‐6.07 60.86 ‐46.16 6.21

2016 ‐0.91 0.86 ‐55% ‐5% ‐20% 1192.95

50D MAVG

SPX


Float: 465.52 MM

Mkt Cap: $11712.57 MM

Dec 15 ‐0.27 0.38 ‐55% 2% ‐37% 329

Mar 16 ‐0.12 0.16 ‐30% ‐2% ‐44% 263

Jun 16 ‐0.14 0.18 ‐34% ‐4% ‐22% 285

Sep 16 ‐0.02 0.23 ‐6% ‐5% ‐11% 295

Mar 17 0.23 0.58 35% 1% 84% 483

1 2 3 4 5 6 7 8 9 10

Change ‐7% ‐116% 13%

46,833,439 32,973,225 26,147,398 25,830,424 25,468,996 18,569,604 17,477,182 15,755,000 15,244,534 13,111,806

Dec 16 2% 0% 18


Top 10 Holders (Shares Held) VANGUARD GROUP BLACKROCK STATE STREET CORP SANDERS CAPITAL LLC FMR LLC NEUBERGER BERMAN GROUP LLC VIKING GLOBAL INVESTORS LP CAPITAL GROUP COMPANIES INC DAVIS SELECTED ADVISERS LP SAILINGSTONE CAPITAL PARTNERS LL

Dec 16 102% 104% 793 290 216 79 77


Change ‐10% ‐10% 5% 15% ‐11% ‐11% ‐29%

Q4 ‐0.54 ‐0.27 ‐0.63 0.184 E

BLOOMBERG BEST ESTIMATES ‐ EPS Q2 Q3 0.28 0.24 ‐0.07 ‐0.04 ‐0.14 ‐0.02 0.148 E 0.13 E Q1 0.26 0.10 ‐0.12 0.23 YEAR 2014 2015 2016 2017

Ownership

Q4 ‐409.63 38.82 ‐266.80 319.5 E


Q4 525.17 329.24 349.27 505.714 E

Dec 16 ‐0.63 0.30 ‐133% ‐5% 6% 349

Q1 341.91 264.93 106.80 325.22


Sep 15 ‐0.04 0.35 ‐8% 11% ‐31% 333

YEAR 2014 2015 2016 2017

YEAR 2014 2015 2016 2017




0

500

1000

1500

2000

2500

3000

Mar 17 28% 0.05 9% 1.00 ‐0.10


Trading Data

Stock Price

Quarter

Corporate

Cabot Oil & Gas Corporation is an independent oil and gas company that develops, exploits, and explores oil and gas properties located in North America. The Company holds interests Appalachian Basin, onshore Gulf Coast, including south and east Texas and north Louisiana, the Rocky Mountains and the Anadarko Basin as well as in the deep gas basin of Western Canada.

Cabot Oil & Gas Corporation

Cabot Oil & Gas Corporation

SPX

57


Ticker: CRZO

Exchange: NASDAQ GS

0

10

20

30

40

50

60

70

80




Financial Details

802K 15.98 ‐51.87 56.87 ‐66.33 6.07

2011 0.94 3.95 24% 5% 38% 237.62

CLOSE PRICE

526K 14.75 29.94 54.50 ‐73.55 5.47

2012 1.40 6.37 20% 11% 72% 409.30

590K 36.83 68.88 61.99 ‐42.26 6.84

2013 1.07 9.00 7% 10% 30% 532.67

1,183K ‐2.05 12.26 55.36 ‐64.09 7.12

2015 ‐22.45 7.33 ‐208% ‐36% ‐11% 623.50

200D MAVG

1,157K 30.03 20.61 60.57 ‐47.60 7.58

2014 4.99 11.06 50% 8% 31% 696.66

1,100K 3.41 78.54 57.88 ‐54.06 7.29

2016 ‐11.27 4.55 ‐120% 14% ‐10% 562.96

50D MAVG

Corporate


Float: 81.44 MM


SPX


1 2 3 4 5 6 7 8 9 10

Change ‐11% ‐73% ‐14%

8,555,207 6,022,707 5,537,466 4,190,832 2,964,206 2,649,410 2,620,911 2,391,271 2,266,445 2,052,905

Dec 16 6% 0% 12

Dec 15 6% ‐1% 14 % OF SHARES HELD % CHANGE IN HOLDINGS (6 MO) # OF HOLDERS

Top 10 Holders (Shares Held) BLACKROCK VANGUARD GROUP CAPITAL GROUP COMPANIES INC FRONTIER CAPITAL MANAGEMENT COMP STATE STREET CORP WEBSTER STEVEN A NWQ INVESTMENT MANAGEMENT CO FMR LLC ADVISORY RESEARCH INCORPORATED AMERIPRISE FIN GRP

Dec 16 118% 125% 412 154 129 53 52


Ownership Change 6% 5% 9% 3% 19% ‐2% ‐21%

Q4 2.94 ‐6.72 ‐0.01 0.318 E

Q1 0.13 ‐0.46 ‐5.34 0.61

BLOOMBERG BEST ESTIMATES ‐ EPS Q2 Q3 0.05 1.85 ‐0.90 ‐13.73 ‐4.46 ‐1.72 0.243 E 0.251 E

Mar 17 0.61 1.17 26% 41% 15% 153

YEAR 2014 2015 2016 2017

Dec 16 ‐0.01 1.18 0% 17% 8% 164

Q4 130.78 ‐301.51 113.09 154.667 E

Sep 16 ‐1.72 1.22 ‐77% ‐‐ ‐15% 132

BLOOMBERG BEST ESTIMATES ‐ EBITDA Q1 Q2 Q3 102.15 127.21 147.33 88.77 119.40 ‐691.74 ‐192.47 ‐110.26 ‐22.24 92.15 109.278 E 133.263 E

Jun 16 ‐4.46 1.23 ‐195% ‐‐ ‐20% 135

YEAR 2014 2015 2016 2017

Mar 16 ‐5.34 0.92 ‐235% ‐11% ‐11% 132

Q4 175.25 151.81 164.38 220.222 E

Dec 15 ‐6.72 1.67 ‐251% ‐12% ‐13% 152

BLOOMBERG BEST ESTIMATES ‐ REVENUE Q1 Q2 Q3 150.54 182.36 188.51 149.11 168.62 153.95 132.43 134.62 131.53 152.87 164.167 E 194 E

Sep 15 ‐13.73 2.30 ‐527% 5% ‐18% 154

YEAR 2014 2015 2016 2017




0

500

1000

1500

2000

2500

3000

Mar 17 98% N/A 9% 1.56 ‐0.91

Carrizo Oil & Gas, Inc. is a Houston‐based energy company actively engaged in the exploration, development, and production of oil and gas from resource plays located in the United States. The Company's current operations are principally focused in proven, producing oil and gas plays primarily in the Eagle Ford Shale in South Texas, the Delaware Basin in West Texas, the Niobrara Formation in Colorado, the Utica Shale in Ohio, and the Marcellus Shale in Pennsylvania.

Carrizo Oil & Gas Inc

Carrizo Oil & Gas Inc

Estimates

Annual

Trading Data

Stock Price


58 SPX


Ticker: XEC

Exchange: New York


0

20

40

60

80

100

120

140

160


‐‐ ‐‐

‐‐



Financial Details

11.05

45.54

1,593K

2011 6.17 15.06 48% 18% 6% 1764.60

‐‐ ‐‐

‐‐ ‐‐ 15.11

845K 76.77 98.06

2013 6.48 15.53 45% 15% 23% 1993.96

CLOSE PRICE

11.29

687K 39.73 115.57

2012 4.08 14.07 35% 11% ‐8% 1623.94

‐‐ ‐‐

‐‐ ‐44.61 18.77

763K 43.07 44.39

2015 ‐25.92 7.44 ‐260% ‐1% ‐40% 1452.62

200D MAVG

18.02

1,087K 64.55 19.73

2014 5.79 18.90 33% 12% 22% 2431.82

1,132K 88.10 135.41 72.93 ‐10.94 22.85

2016 ‐4.62 6.42 ‐52% 2% ‐13% 1257.35

50D MAVG

SPX


Mar 17 1.38 2.67 47% 8% 80% 441

1 2 3 4 5 6 7 8 9 10

Change 0% ‐16% ‐5%

Change ‐4% ‐4% 11% ‐8% 24% 14% ‐23%

9,834,946 7,141,421 5,301,133 4,887,100 4,165,198 4,063,310 2,553,315 2,538,405 2,109,441 1,870,123

Dec 16 2% 5% 18


Top 10 Holders (Shares Held) VANGUARD GROUP BLACKROCK STATE STREET CORP CAPITAL GROUP COMPANIES INC FMR LLC DIAMOND HILL CAPITAL MANAGEMENT WELLINGTON MANAGEMENT GROUP LLP STATE FARM MUTUAL AUTO INSURANCE WADDELL & REED FINANCIAL INC CITADEL ADVISORS LLC

Dec 16 101% 103% 774 237 257 83 61

Dec 15 106% 107% 695 259 207 73 79



Ownership

Q1 1.59 ‐4.84 ‐2.49 1.38

Q4 0.87 ‐6.78 0.40 1.164 E YEAR 2014 2015 2016 2017

Dec 16 0.40 1.82 20% 3% 23% 382

Q4 338.35 ‐830.34 196.17 320.286 E

Sep 16 ‐0.14 2.31 ‐6% 0% ‐6% 336

BLOOMBERG BEST ESTIMATES ‐ EBITDA Q1 Q2 Q3 404.88 245.51 440.11 ‐418.65 ‐715.95 ‐991.61 ‐234.00 ‐287.45 102.00 267.37 274.6 E 293.071 E

Jun 16 ‐2.91 1.38 ‐142% ‐2% ‐30% 299

YEAR 2014 2015 2016 2017

Mar 16 ‐2.49 0.92 ‐148% ‐1% ‐32% 246

Q4 552.21 311.28 382.16 507.438 E

Dec 15 ‐6.78 1.24 ‐323% ‐1% ‐44% 311


Sep 15 ‐8.21 2.22 ‐335% 1% ‐45% 356


YEAR 2014 2015 2016 2017




0

500

1000

1500

2000

2500

3000

Mar 17 26% 0.08 9% 1.11 ‐0.21

Estimates

Annual

Float: 95.11 MM


Trading Data

Stock Price

Quarter

Corporate

Cimarex Energy Co. explores for and produces crude oil and natural gas in the United States. The Company conducts activities primarily in Oklahoma, Kansas, Louisiana, and Texas.

Cimarex Energy Co

Cimarex Energy Co

SPX

59

Domicile: Amsterdam

Ticker: CLB

Exchange: New York

0

50

100

150

200

250




Financial Details

736K 100.14 82.73 79.60 ‐5.48 19.64

2011 3.99 4.41 26% 81% 14% 907.65

336K 182.33 223.32 85.27 ‐4.62 31.81

2013 5.31 6.52 30% 139% 9% 1073.51

CLOSE PRICE

570K 101.39 265.22 77.33 ‐24.34 22.96

2012 4.58 5.02 29% 119% 8% 981.08

286K 88.82 ‐4.57 61.62 ‐51.72 32.18

2015 2.69 5.13 19% ‐‐ ‐27% 797.52

200D MAVG

344K 107.44 35.14 64.30 ‐46.38 32.75

2014 5.80 6.84 31% 205% 1% 1085.22

233K 73.66 9.82 63.23 ‐46.60 32.28

2016 1.47 3.03 13% ‐‐ ‐25% 594.74

50D MAVG

Corporate



SPX


1 2 3 4 5 6 7 8 9 10

Change ‐6% ‐128% ‐8%

5,219,879 3,616,058 2,711,686 2,241,345 1,843,931 1,771,627 1,713,008 1,679,724 1,575,658 953,835

Dec 16 1% 0% 12


Top 10 Holders (Shares Held) CLEARBRIDGE VANGUARD GROUP WCM INVESTMENT MANAGEMENT BLACKROCK EARNEST PARTNERS LLC CAPITAL GROUP COMPANIES INC SUSTAINABLE GROWTH ADVISERS KAYNE ANDERSON RUDNICK INV MGMT WEDGEWOOD PARTNERS SUN LIFE FINANCIAL INC

Dec 16 129% 131% 632 226 183 59 61


Ownership Change 1% 1% 5% 6% 9% ‐25% ‐6%

Q4 1.51 0.36 0.35 0.648 E

BLOOMBERG BEST ESTIMATES ‐ EPS Q2 Q3 1.43 1.51 0.81 0.79 0.38 0.38 0.51 0.591 E Q1 1.36 0.72 0.36 0.40 YEAR 2014 2015 2016 2017

Jun 17 0.51 0.42 16% 48% 11% 164

Q4 97.35 30.69 28.07 43.136 E

Mar 17 0.40 0.67 13% ‐‐ 3% 158

BLOOMBERG BEST ESTIMATES ‐ EBITDA Q2 Q3 90.45 95.97 54.82 53.73 26.98 28.21 35.71 39.982 E

Dec 16 0.35 0.53 13% ‐‐ ‐18% 150

Q1 89.46 49.28 29.79 29.61

Sep 16 0.38 0.79 13% ‐‐ ‐27% 143

YEAR 2014 2015 2016 2017

Jun 16 0.38 0.64 12% 111% ‐27% 148

Q4 278.62 182.72 149.54 184.455 E

Mar 16 0.36 1.09 13% ‐‐ ‐28% 154

BLOOMBERG BEST ESTIMATES ‐ REVENUE Q1 Q2 Q3 262.90 267.56 276.14 213.64 203.89 197.27 153.65 148.07 143.48 157.81 163.90 176.75 E

Dec 15 0.36 1.16 11% ‐‐ ‐34% 183

YEAR 2014 2015 2016 2017




0

500

1000

1500

2000

2500

3000

Jun 17 57% 0.55 9% 0.94 ‐0.10

Core Laboratories N.V. provides reservoir description, production enhancement, and reservoir management services. The Company's customers include major, national, and independent oil and gas producers. Core also manufactures and sells petroleum reservoir rock and fluid analysis instrumentation and other integrated systems.

Core Laboratories NV

Core Laboratories NV

Estimates

Annual

Trading Data

Stock Price


60 SPX

Domicile: Kansas City, MO

Ticker: CORR

Exchange: New York Sector: Real Estate Investment Trusts

Float: 11.89 MM

Mkt Cap: $420.57 MM

Annual

0

5

10

15

20

25

30

35

40

45

50


‐‐ ‐‐

‐‐



‐5.26

‐33.10

10K

2011 1.60 1.51 118% ‐‐ ‐‐ 3.23

‐‐ ‐‐

‐‐ ‐‐ ‐‐

‐‐

CLOSE PRICE

‐5.21

62.38

8K

2012 6.70 5.25 185% ‐8% 228% 10.57

‐5.64

14.29

3K

2013 0.95 1.60 29% ‐1% 196% 31.29

‐‐ ‐‐

‐‐ ‐‐ ‐‐

‐‐

‐7.91

‐61.95

88K

2015 0.79 3.99 17% 3% 77% 71.29

200D MAVG

‐6.17

‐10.99

3K

2014 1.05 2.56 21% 3% 29% 40.31

‐‐ ‐‐

‐‐

‐7.59

‐17.54

88K

2016 2.14 4.29 34% 7% 25% 89.25

50D MAVG

SPX


1 2 3 4 5 6 7 8 9 10

Change 9% ‐100% 0%

836,667 562,411 541,579 533,172 439,331 409,233 357,721 341,500 263,887 237,316

Dec 16 1% 1% 7


Top 10 Holders (Shares Held) BLACKROCK VANGUARD GROUP LSV ASSET MANAGEMENT GOLDMAN SACHS GROUP INC MORGAN STANLEY PRUDENTIAL FINANCIAL INC ENERGY INCOME PARTNERS LLC RENAISSANCE TECHNOLOGIES LLC STATE STREET CORP BANK OF AMERICA CORPORATION

Dec 16 66% 67% 168 50 39 40 14


Ownership Change 7% 7% 12% ‐29% 22% 90% ‐44%

Q4 0.00 0.22 0.59 0.645 E

BLOOMBERG BEST ESTIMATES ‐ EPS Q2 Q3 0.50 0.30 0.35 ‐0.05 0.66 0.69 0.605 E 0.645 E Q1 0.35 0.35 0.20 0.56 YEAR 2014 2015 2016 2017

Mar 17 0.56 1.31 35% 8% ‐1% 22

Q4 6.34 13.09 17.86 17.5 E

Dec 16 0.59 0.80 36% 7% 2% 23


Sep 16 0.69 1.32 45% 6% 0% 22

Q1 5.90 9.35 13.61 18.15

Jun 16 0.66 0.78 44% 4% 74% 22

YEAR 2014 2015 2016 2017

Mar 16 0.20 1.40 11% 3% 59% 22

Q4 11.90 22.48 22.82 23.833 E

Dec 15 0.22 0.98 16% 3% 89% 22


Sep 15 ‐0.05 1.37 ‐5% 3% 137% 22

YEAR 2014 2015 2016 2017




0

500

1000

1500

2000

2500

3000

Mar 17 32% 0.75 8% 1.31 0.10

Estimates

Financial Details


Trading Data

Stock Price

Quarter

Corporate

CorEnergy Infrastructure Trust, Inc. is a real estate investment trust. The Company primarily owns midstream and downstream U.S. energy infrastructure assets subject to long‐term triple net participating leases with energy companies. These assets include pipelines, storage tanks, transmission lines, and gathering systems.

CorEnergy Infrastructure Trust Inc

CorEnergy Infrastructure Trust Inc

SPX

61


Ticker: DEE CN

Exchange: Toronto

0

0.5

1

1.5

2

2.5

3

3.5

4

4.5

5




Financial Details

189K ‐0.28 15.85 41.51 ‐71.84 ‐0.63

2011 0.10 0.58 17% 4% 7% 106.15

CLOSE PRICE

961K ‐1.06 15.15 38.91 ‐89.30 ‐0.68

2012 ‐0.43 0.23 ‐105% ‐22% ‐32% 72.40

980K ‐0.46 13.45 42.10 ‐75.04 ‐0.65

2013 ‐0.08 0.21 ‐18% ‐5% 21% 87.27

496K ‐5.26 ‐58.02 39.08 ‐93.76 ‐0.69

2015 ‐0.27 0.30 ‐45% ‐‐ ‐28% 100.89

200D MAVG

565K ‐2.30 ‐30.88 40.83 ‐82.89 ‐0.65

2014 ‐0.05 0.48 ‐7% ‐‐ 60% 139.21

798K ‐4.17 48.25 42.56 ‐79.50 ‐0.65

2016 ‐0.26 0.22 ‐53% ‐25% ‐21% 80.01

50D MAVG

Corporate


SPX


Q4 ‐0.16 ‐0.15 ‐0.16 0.03 E

BLOOMBERG BEST ESTIMATES ‐ EPS Q2 Q3 0.04 0.08 ‐0.21 0.07 ‐0.12 ‐0.01 0.003 E 0.013 E Q1 0.00 0.01 0.03 0.05 YEAR 2014 2015 2016 2017

1 2 3 4 5 6 7 8 9 10

Change 5% ‐65% ‐8%

30,995,255 16,033,213 15,516,560 9,695,293 6,681,105 1,471,723 1,332,600 1,200,000 1,142,000 1,008,256

Dec 16 4% 3% 11


Top 10 Holders (Shares Held) LUMINUS MANAGEMENT LLC MASON HILL PARTNERS FRANKLIN RESOURCES MAWER INVESTMENT MANAGEMENT DIMENSIONAL FUND ADVISORS LP REID DAVID J TOLLEY LAMONT C GALILEO GLOBAL EQUITY ADVISOR CAMPBELL HARRY S ROYAL BANK OF CANADA

Dec 16 41% 43% 19 3 4 5 3


Ownership Change 25% 25% ‐5% 0% 100% 25% 50%

Q4 13.42 25.57 12.95 21.9 E

BLOOMBERG BEST ESTIMATES ‐ EBITDA Q2 Q3 20.49 16.75 7.60 12.41 6.25 10.96 10 E 16.05 E

Dec 16 ‐0.16 0.05 ‐120% ‐25% ‐21% 21

Q1 26.22 12.16 15.60 18.75

Sep 16 ‐0.01 0.08 ‐11% ‐6% ‐6% 22

YEAR 2014 2015 2016 2017

Jun 16 ‐0.12 0.01 ‐126% ‐3% ‐37% 16

Q4 31.10 26.97 21.23 38.9 E

Mar 16 0.03 0.08 25% ‐4% ‐17% 21


Sep 15 0.07 0.04 46% ‐21% ‐24% 23

Mkt Cap: $228.02 MM

YEAR 2014 2015 2016 2017




0

500

1000

1500

2000

2500

3000

Mar 17 13% N/A 15% 1.61 0.33

Dec 15 ‐0.15 0.14 ‐86% ‐4% ‐13% 27

Float: 185.38 MM

Delphi Energy Corporation acquires, explores, and develops oil and gas properties. Delphi Energy is a pure‐play Montney E&P company focused on the production of liquids‐rich natural gas.

Delphi Energy Corporation

Delphi Energy Corporation

Estimates

Annual

Trading Data

Stock Price


62 SPX

Mar 17 0.05 0.06 37% ‐24% 6% 23

Domicile: Plano, TX

Ticker: DNR

Exchange: New York


Float: 398.34 MM

Mkt Cap: $573.61 MM

Annual

0

5

10

15

20

25




3,627K 12.03 ‐49.24 59.56 ‐63.89 4.05

2011 1.45 3.04 40% 12% 29% 2294.24

4,171K 12.87 11.01 60.52 ‐60.61 4.04

2013 1.12 3.71 26% 10% 2% 2493.52

CLOSE PRICE

4,762K 13.21 48.35 60.35 ‐61.10 4.06

2012 1.36 3.66 35% 11% 7% 2454.20

4,659K ‐10.84 ‐86.62 46.41 ‐98.79 2.22

2015 ‐12.57 2.48 ‐360% 4% ‐27% 1755.35

200D MAVG

6,687K 0.81 ‐57.41 51.74 ‐82.84 3.31

2014 1.82 3.50 42% 6% ‐3% 2418.54

5,688K ‐14.62 ‐77.28 47.98 ‐92.85 1.47

2016 ‐2.61 0.59 ‐146% 1% ‐40% 1044.75

50D MAVG

SPX


1 2 3 4 5 6 7 8 9 10

Change ‐42% 568% ‐19%

Change ‐2% ‐3% ‐10% ‐18% ‐16% 7% ‐58%

56,483,974 47,422,302 35,138,435 31,420,704 21,449,090 17,340,068 9,729,316 9,418,587 8,653,485 8,529,233

Dec 16 1% 35% 13


Top 10 Holders (Shares Held) VANGUARD GROUP BLACKROCK CAPITAL GROUP COMPANIES INC SAILINGSTONE CAPITAL PARTNERS LL STATE STREET CORP FMR LLC JPMORGAN CHASE & CO VICTORY CAPITAL MANAGEMENT INC D E SHAW & COMPANY LP DIMENSIONAL FUND ADVISORS LP

Dec 16 131% 132% 403 126 115 63 53


Ownership

Q1 0.17 ‐0.31 ‐0.53 0.06

Q4 1.04 ‐2.56 ‐0.99 0.031 E

BLOOMBERG BEST ESTIMATES ‐ EPS Q2 Q3 ‐0.16 0.77 ‐3.28 ‐6.41 ‐1.03 ‐0.06 ‐0.009 E 0.015 E

Mar 17 0.06 0.06 17% 1% ‐8% 245

YEAR 2014 2015 2016 2017

Dec 16 ‐0.99 0.15 ‐255% 0% ‐32% 234

Q4 339.84 ‐1179.46 ‐527.11 116.675 E

Sep 16 ‐0.06 0.25 ‐16% 0% ‐48% 239

BLOOMBERG BEST ESTIMATES ‐ EBITDA Q1 Q2 Q3 325.43 341.89 346.18 80.03 ‐1426.44 ‐2749.79 ‐159.94 ‐330.22 ‐3.51 65.45 72.86 E 100.86 E

Jun 16 ‐1.03 0.16 ‐198% 4% ‐39% 305

YEAR 2014 2015 2016 2017

Mar 16 ‐0.53 0.01 ‐105% 4% ‐41% 266

Q4 583.95 344.04 234.24 301.5 E

Dec 15 ‐2.56 0.48 ‐405% 6% ‐41% 344


Sep 15 ‐6.41 0.78 ‐646% 7% ‐24% 460

YEAR 2014 2015 2016 2017




0

500

1000

1500

2000

2500

3000

Mar 17 86% N/A 7% 2.91 ‐0.27

Estimates

Financial Details


Trading Data

Stock Price

Quarter

Corporate

Denbury Resources Inc. produces petroleum products. The Company acquires, develops, operates, and explores oil and gas properties. Denbury Resources markets its services to customers in the Gulf Coast region of the United States.

Denbury Resources Inc

Denbury Resources Inc

SPX

63


Ticker: ESTE

Exchange: New York

0

5

10

15

20

25

30

35

40




Financial Details

2K 17.16 23.07 69.43 ‐41.39 3.72

2011 0.94 1.53 22% 11% 13% 8.21

CLOSE PRICE

1K 18.59 95.36 70.39 ‐37.18 4.34

2012 1.92 3.09 34% 20% 43% 11.71

3K 14.69 106.16 62.97 ‐51.95 4.38

2013 1.03 2.25 18% 9% ‐3% 11.38

2K ‐16.19 ‐33.65 56.65 ‐65.19 4.33

2015 ‐8.43 ‐0.75 ‐265% ‐25% 209% 54.08

200D MAVG

5K 16.45 128.49 66.58 ‐38.30 4.73

2014 2.27 3.72 29% 18% 54% 17.51

3K ‐20.36 ‐36.06 57.02 ‐64.82 3.99

2016 ‐2.92 0.09 ‐119% ‐10% ‐16% 45.49

50D MAVG

Corporate


Float: 22.81 MM

Mkt Cap: $588.19 MM

SPX


1 2 3 4 5 6 7 8 9 10

Change 4% N/A 75%

2,957,288 1,279,865 829,798 556,003 498,502 402,500 293,571 281,614 250,000 247,458

Dec 16 4% 1% 7


Top 10 Holders (Shares Held) FLATONIA ENERGY LLC T ROWE PRICE GROUP INC WASATCH ADVISORS INC NORTHPOINTE CAPITAL LLC SINGLETON RAY POINT72 AMERIPRISE FIN GRP VANGUARD GROUP PRECOCITY CAPITAL LP KENNEDY CAPITAL MANAGEMENT

Dec 16 22% 53% 77 28 10 10 14


Ownership Change 686% 70% 71% 100% ‐17% 67% 133%

Q4 0.62 ‐8.42 ‐1.48 0.006 E

BLOOMBERG BEST ESTIMATES ‐ EPS Q2 Q3 0.71 0.54 ‐0.05 0.12 ‐0.69 ‐0.17 ‐0.011 E ‐0.015 E Q1 0.40 ‐0.08 ‐0.46 0.03 YEAR 2014 2015 2016 2017

Mar 17 0.03 0.20 5% ‐8% 73% 15

Q4 2.46 ‐132.47 ‐18.86 19.95 E

Dec 16 ‐1.48 0.00 ‐221% ‐10% 25% 15


Sep 16 ‐0.18 0.62 ‐33% ‐14% ‐25% 11

Q1 1.67 3.63 0.66 4.46

Jun 16 ‐0.69 0.19 ‐103% ‐13% ‐34% 11

YEAR 2014 2015 2016 2017

Mar 16 ‐0.46 ‐1.10 ‐73% ‐13% ‐22% 9

Q4 4.77 11.93 14.91 34.1 E

Dec 15 ‐8.42 ‐1.07 ‐1198% ‐25% 150% 12


Sep 15 0.12 1.06 17% ‐1% 232% 15

YEAR 2014 2015 2016 2017




0

500

1000

1500

2000

2500

3000

Mar 17 2% N/A 10% 1.08 ‐0.39

Earthstone Energy Inc. acquires, exploits, develops, and operates oil and natural gas properties. The Company's exploration activities are located in the North Dakota and Montana portions of the Williston basin, the Denver‐Julesburg basin of Colorado, the southern portions of Texas, and along the on‐shore portions of the Gulf Coast.

Earthstone Energy Inc

Earthstone Energy Inc

Estimates

Annual

Trading Data

Stock Price


64 SPX

Domicile: State College, PA

Ticker: ECR

Exchange: New York


Float: 262.59 MM

Annual

12/20/2014

9/20/2015

0 6/20/2014

9/20/2016

12/20/2016

3/20/2017

6/20/2017

Q4 ‐0.21 ‐3.66 ‐0.23 0.007 E

BLOOMBERG BEST ESTIMATES ‐ EPS Q2 Q3 ‐0.84 ‐0.12 ‐0.19 ‐0.37 ‐0.33 ‐0.10 ‐0.021 E ‐0.022 E Q1 ‐0.098 E ‐0.17 ‐0.20 0.10 YEAR 2014 2015 2016 2017

1 2 3 4 5 6 7 8 9 10

Change 1847% N/A 71%

172,955,027 72,847,294 59,687,619 40,420,114 11,054,844 6,171,121 5,149,705 5,125,000 4,968,912 3,410,000

Dec 16 2% 56% 12


Top 10 Holders (Shares Held) ENCAP FUNDS ENCAP ENERGY CAPITAL FUND IX LP ENCAP ENERGY CAPITAL FUND VIII, ENCAP ENERGY CAP FUND VIII CO‐IN KOHLBERG KRAVIS ROBERTS & CO LP BLACKROCK SANDERS MORRIS HARRIS INC NOMURA VANGUARD GROUP BLACKSTONE GROUP LP

Dec 16 30% 95% 159 66 25 44 30


Ownership Change 17% ‐22% 34% 69% ‐11% 83% 0%

Q4 ‐13.40 ‐757.48 24.63 59.05 E

Mar 17 0.10 0.11 26% ‐9% 105% 102


Sep 16 ‐0.10 ‐0.04 ‐45% ‐38% ‐17% 59

Q1 10.82 ‐7.00 ‐35.50 40.42

Jun 16 ‐0.33 0.01 ‐155% ‐42% ‐37% 47

YEAR 2014 2015 2016 2017

Mar 16 ‐0.20 ‐0.09 ‐91% ‐40% 13% 50

Q4 50.37 79.20 86.71 120.333 E

Dec 15 ‐3.66 0.09 ‐1053% ‐50% 57% 79


Sep 15 ‐0.37 0.05 ‐140% ‐12% 99% 71

YEAR 2014 2015 2016 2017




0

500

5

6/20/2016

SPX

3000

Mar 17 35% N/A 12% 2.12 0.26

1000

3/20/2016

50D MAVG


10

12/20/2015

‐‐ ‐‐ ‐‐ ‐‐ ‐‐ ‐‐

2016 ‐0.84 0.03 ‐74% ‐12% ‐6% 273.73

1500

6/20/2015

200D MAVG

‐‐ ‐‐ ‐‐ ‐‐ ‐‐ ‐‐

2015 ‐4.46 0.37 ‐357% ‐49% 112% 292.40

15

3/20/2015

‐‐ ‐‐ ‐‐ ‐‐ ‐‐ ‐‐

2014 ‐1.27 0.06 ‐81% ‐19% 965% 137.82

2000

CLOSE PRICE

‐‐ ‐‐ ‐‐ ‐‐ ‐‐ ‐‐

2013 ‐‐ ‐‐ ‐337% ‐‐ ‐‐ 12.94

20

‐‐ ‐‐ ‐‐ ‐‐ ‐‐ ‐‐

2012 ‐‐ ‐‐ ‐‐ ‐‐ ‐‐ ‐‐

2500

9/20/2014

‐‐ ‐‐ ‐‐ ‐‐ ‐‐ ‐‐

2011 ‐‐ ‐‐ ‐‐ ‐‐ ‐‐ ‐‐ Corporate

25

30




Estimates

Financial Details Dec 16 ‐0.23 0.13 ‐73% ‐14% 9% 87

Mkt Cap: $701.10 MM


Trading Data

Stock Price

Quarter

Eclipse Resources is an independent exploration and production company engaged in the acquisition and development of oil and natural gas properties in the Appalachian Basin, including the Utica and Marcellus Shales.

Eclipse Resources Corporation

Eclipse Resources Corporation

SPX

65


Ticker: ESES

Exchange: NASDAQ CM


‐‐

‐‐

0K ‐596.87 ‐45.66 19.97 ‐99.99

2015 ‐1.35 ‐1.88 ‐95% ‐50% 1548% 13.76

200D MAVG

0K ‐2633.50 121.09 19.97 ‐99.99

2014 ‐1.48 ‐2.40 ‐‐ ‐170% ‐‐ 0.83

‐‐

0K ‐191.04 ‐64.44 19.97 ‐99.99

2016 ‐1.32 ‐0.39 ‐211% ‐78% ‐39% 8.35

50D MAVG

SPX


3000

Mar 17 61% N/A 6% 1.51 ‐0.37

Mkt Cap: $78.42 MM

1000

500

0

10

5

0

Q4 ‐0.53 ‐0.26 ‐0.34 ‐0.014 E


1 2 3 4 5 6 7 8 9 10

Change 19% N/A 0%

40,569,222 3,979,534 787,940 596,828 592,938 572,493 525,639 485,979 470,685 396,000

Dec 16 10% 6% 6


Top 10 Holders (Shares Held) FIR TREE INCORPORATED BIENVILLE CAPITAL MANAGEMENT LLC GILDER GAGNON HOWE EMANCIPATION MANAGEMENT LLC BOSWELL JON CHRISTOPHE FERNANDEZ CARLOS A BRUHEIM BJARTE HENRY VANGUARD GROUP PHOENIX INVESTMENT ADVISER LLC NICKOLATOS ALEXANDER

Dec 16 66% 56% 17 5 3 1 2


Ownership Change 1% ‐15% 0% ‐17% N/A ‐88% ‐33%

Q4 ‐3.34 ‐2.49 ‐2.16 1.076 E

Mar 17 ‐0.34 ‐0.32 ‐221% ‐97% 40% 3

BLOOMBERG BEST ESTIMATES ‐ EBITDA Q2 Q3 ‐1.60 ‐2.57 ‐2.04 ‐2.15 ‐1.82 ‐2.53 ‐1.85 E ‐0.197 E

Dec 16 ‐0.34 ‐0.02 ‐218% ‐78% ‐17% 2

Q1 ‐1.69 ‐2.09 ‐2.14 ‐2.82

Sep 16 ‐0.35 ‐0.09 ‐223% ‐87% ‐52% 2

YEAR 2014 2015 2016 2017

Jun 16 ‐0.27 ‐0.41 ‐154% ‐71% ‐41% 2

Q4 0.19 2.50 2.06 15.24 E

Mar 16 ‐0.36 0.13 ‐261% ‐59% ‐37% 2

BLOOMBERG BEST ESTIMATES ‐ REVENUE Q2 Q3 0.07 0.09 3.99 4.38 2.34 2.12 8.828 E 12.64 E

Dec 15 ‐0.26 ‐0.42 ‐127% ‐50% 1220% 2

Q1 0.50 2.89 1.83 2.56

Sep 15 ‐0.21 ‐0.38 ‐61% ‐203% 4873% 4

YEAR 2014 2015 2016 2017




1500

15

2000

CLOSE PRICE

‐‐

0K ‐11995.20 233.33 19.97 ‐100.00

2013 ‐2.03 ‐1.80 ‐‐ ‐‐ ‐‐ 0.00

20

‐‐

0K ‐21597.30 462.50 19.97 ‐100.00

2012 ‐‐ ‐‐ ‐‐ ‐‐ ‐‐ ‐‐

2500

‐‐

0K ‐47994.25 ‐70.00 19.97 ‐100.00

2011 ‐‐ ‐‐ ‐‐ ‐‐ ‐‐ ‐‐

25

30




Financial Details Corporate

Eco‐Stim Energy Solutions, Inc. operates as an oilfield service and technology company. The Company focuses on providing well‐stimulation and completion techniques to international unconventional markets currently under development. The Company has operations in Argentina and Oklahoma.

Eco‐Stim Energy Solutions Inc

Eco‐Stim Energy Solutions Inc

Estimates

Annual

Trading Data

Stock Price


66 SPX


Ticker: EXXI

Exchange: NASDAQ GS


Float: 33.21 MM

Mkt Cap: $650.28 MM

Annual

0 1/13/2017

5

10

15

20

25

30

35

40




‐‐ ‐‐ ‐‐ ‐‐ ‐‐ ‐‐

2011 ‐‐ ‐‐ 10% 13% 72% 859.37

‐‐ ‐‐ ‐‐ ‐‐ ‐‐ ‐‐

2013 ‐‐ ‐‐ 22% 12% ‐7% 1208.85

CLOSE PRICE

‐‐ ‐‐ ‐‐ ‐‐ ‐‐ ‐‐

2012 ‐‐ ‐‐ 30% 26% 52% 1303.40

‐‐ ‐‐ ‐‐ ‐‐ ‐‐ ‐‐

2015 ‐‐ ‐‐ ‐‐ ‐‐ ‐‐ ‐‐

4/13/2017

200D MAVG

‐‐ ‐‐ ‐‐ ‐‐ ‐‐ ‐‐

2014 0.64 7.33 9% 3% 2% 1230.73

‐‐ ‐‐ ‐‐ ‐‐ ‐‐ ‐‐

2016 ‐‐ ‐‐ ‐‐ ‐‐ ‐‐ ‐‐

50D MAVG

SPX


0

1 2 3 4 5 6 7 8 9 10

Change N/A N/A N/A

Change N/A N/A N/A N/A N/A N/A N/A

9,156,845 3,374,976 3,260,186 3,090,047 1,991,430 1,984,802 1,006,615 985,781 835,238 774,796

Dec 16 N/A N/A N/A

Dec 15 N/A N/A N/A % OF SHARES HELD % CHANGE IN HOLDINGS (6 MO) # OF HOLDERS

Top 10 Holders (Shares Held) FRANKLIN RESOURCES OAKTREE CAPITAL GROUP HLDGS LP DW PARTNERS LP MUDRICK CAPITAL MANAGEMENT LP HOTCHKIS & WILEY CAPITAL MGMT TYRUS CAPITAL SAM COVALENT PARTNERS LLC VANGUARD GROUP SOUTH DAKOTA INVESTMENT COUNCIL DUPONT CAPITAL MANAGEMENT

Dec 16 N/A N/A N/A N/A N/A N/A N/A

Dec 15 N/A N/A N/A N/A N/A N/A N/A % OF SHARES HELD % OF FLOAT HELD # OF HOLDERS # OF BUYERS # OF SELLERS # OF NEW BUYERS # OF SELLOFFS

Ownership

Q3 N/A N/A N/A N/A

Q4 N/A N/A N/A N/A

Q1 N/A N/A N/A ‐1.97 YEAR 2014 2015 2016 2017

BLOOMBERG BEST ESTIMATES ‐ EPS Q2 N/A N/A N/A N/A

Q4 165.51 N/A N/A N/A

Jun 14 ‐‐ ‐‐ ‐6% ‐‐ ‐‐ 324

BLOOMBERG BEST ESTIMATES ‐ EBITDA Q2 Q3 167.55 168.68 N/A N/A N/A N/A N/A N/A

Mar 14 ‐‐ ‐‐ 12% ‐‐ ‐‐ 285

Q1 201.99 N/A N/A ‐19.50

Dec 13 ‐‐ ‐‐ 10% ‐‐ ‐‐ 297

YEAR 2014 2015 2016 2017

Sep 13 ‐‐ ‐‐ 23% ‐‐ ‐‐ 325

Q4 324.13 N/A N/A N/A

Jun 12 ‐‐ ‐‐ 28% 26% 21% 342

BLOOMBERG BEST ESTIMATES ‐ REVENUE Q1 Q2 Q3 324.59 296.82 285.18 N/A N/A N/A N/A N/A N/A 157.91 N/A N/A

Mar 12 ‐‐ ‐‐ 30% 25% 30% 336

YEAR 2014 2015 2016 2017




7/13/2017

500

1000

1500

2000

2500

3000

Mar 17 67% N/A 9% NA NA

Estimates

Financial Details


Trading Data

Stock Price

Quarter

Corporate

Mar 17 ‐1.97 0.35 ‐41% ‐‐ ‐‐ 158

Energy XXI is an oil and natural gas development and production company which has historically focused on development drilling on its core properties to enhance production and ultimate recovery of reserves, supplemented by strategic acquisitions. The Company’s properties are located in the U.S. Gulf of Mexico waters and the Gulf Coast onshore. Energy XXI operates nine of the largest oilfields on the Gulf of Mexico Shelf.

Energy XXI Gulf Coast Inc

Energy XXI

SPX

67


Ticker: ERF

Exchange: New York


810K ‐46.87 ‐86.49 49.30 ‐99.27 1.61

2015 ‐5.79 1.77 ‐144% 0% ‐23% 917.81

200D MAVG

1,414K ‐26.84 ‐68.87 52.47 ‐96.42 3.24

2014 1.32 3.49 29% 6% 13% 1385.49

613K ‐49.97 ‐26.85 52.34 ‐86.74 0.79

2016 1.32 1.04 20% ‐25% ‐31% 606.60

50D MAVG

SPX


3000

Mar 17 34% 0.01 19% 1.85 0.32

Float: 242.13 MM


1000

500

0

10

5

0

Mar 17 0.24 0.40 45% ‐2% 29% 177

1 2 3 4 5 6 7 8 9 10

Change ‐23% ‐85% ‐22%

Change 33% 32% ‐14% ‐21% ‐9% 2% ‐25%

12,187,382 9,929,514 9,903,677 8,357,150 6,554,695 6,317,358 4,752,589 4,304,885 3,531,993 3,381,197

Dec 16 0% 1% 21


Top 10 Holders (Shares Held) KEY GROUP HOLDINGS (CAYMAN), LTD POWER CORP OF CANADA ROYAL BANK OF CANADA LETKO BROSSEAU & ASSOCIATES BANK OF NOVA SCOTIA TORONTO‐DOMINION BANK VANGUARD GROUP CONNOR CLARK & LUNN INV WELLINGTON MANAGEMENT GROUP LLP UBS

Dec 16 51% 51% 290 72 84 56 38

Dec 15 38% 38% 337 91 92 55 51



Ownership

Q1 0.18 ‐1.15 ‐0.61 0.24

Q4 0.65 ‐2.27 2.62 0.159 E YEAR 2014 2015 2016 2017

Dec 16 2.62 0.23 119% ‐25% ‐17% 170

Q4 144.14 ‐103.81 295.93 126.211 E

Sep 16 ‐0.32 0.34 ‐39% ‐34% ‐30% 152

BLOOMBERG BEST ESTIMATES ‐ EBITDA Q1 Q2 Q3 232.75 236.72 197.42 ‐107.26 ‐256.75 ‐155.19 111.59 7.05 19.41 91.04 89.498 E 107.424 E

Jun 16 ‐0.60 0.22 ‐59% ‐31% ‐40% 152

YEAR 2014 2015 2016 2017

Mar 16 ‐0.61 0.25 45% ‐12% ‐38% 133

Q4 291.47 204.55 169.82 241.308 E

Dec 15 ‐2.27 0.28 ‐121% 0% ‐18% 205


Sep 15 ‐1.09 0.45 ‐139% 0% ‐25% 216

YEAR 2014 2015 2016 2017




1500

15

2000

CLOSE PRICE

687K ‐13.02 ‐20.82 57.21 ‐72.00 4.65

2013 0.23 3.71 6% 0% 17% 1313.37

20

‐58.83 7.05

690K ‐6.13 ‐33.81 54.90 ‐80.14 5.51

2012 ‐1.38 2.74 ‐47% 9% 3% 1154.15

2500

‐‐

1,149K 1.82 ‐36.78

2011 0.62 3.51 13% 5% 1% 1131.36

25

30





Enerplus Corporation is an oil and gas exploration and production company that owns a large, diversified portfolio of income generating crude oil and natural gas properties. The Company invests in mature crude oil and natural gas producing properties located primarily in western Canada with predictable production profiles.

Enerplus Corporation

Enerplus Corporation

Estimates

Annual

Trading Data

Stock Price


68 SPX


Ticker: ERN

Exchange: NYSEAmerican


Float: 213.41 MM

Mkt Cap: $373.46 MM

Annual

0

1

2

3

4

5

6

7

8

9

10


‐‐ ‐‐

‐‐



‐4.88

‐90.73

26K

2011 ‐0.39 ‐0.23 ‐55% ‐11% 84% 37.92

‐‐ ‐‐

‐‐ ‐‐ ‐‐

‐‐

CLOSE PRICE

‐5.70

‐9.23

115K

2012 ‐0.10 ‐0.09 ‐56% ‐5% ‐56% 16.62

‐6.10

‐68.31

289K

2013 ‐0.02 ‐0.02 ‐68% ‐15% 283% 63.74

‐‐ ‐‐

‐‐ ‐‐ ‐‐

‐‐

‐6.58

28.57

45K

2015 ‐2.04 0.01 ‐631% ‐‐ 27% 68.43

200D MAVG

‐6.45

‐54.73

95K

2014 ‐0.48 ‐0.17 ‐179% ‐27% ‐16% 53.84

‐‐ ‐‐

‐‐

‐6.62

109.78

113K

2016 ‐0.67 0.03 ‐184% ‐‐ 14% 77.82

50D MAVG

SPX


1 2 3 4 5 6 7 8 9 10

Change ‐25% ‐92% 0%

Change 5% 82% 2% ‐30% 13% ‐38% ‐55%

Q3 ‐0.18 ‐0.28 ‐0.11 N/A

145,067,660 62,854,636 661,093 477,364 324,027 276,650 256,793 194,320 124,444 115,540

Dec 16 1% 1% 14


Top 10 Holders (Shares Held) CAMAC ENERGY HOLDINGS LTD PUBLIC INVESTMENT CORP BLACKROCK WONG HEIDI OGBONNA DANIEL MILLENNIUM MANAGEMENT LLC BROWN LEE PATRICK VANGUARD GROUP INGRISELLI FRANK C HLATSHWAYO DUDU

Dec 16 94% 20% 66 16 17 8 5


Ownership

BLOOMBERG BEST ESTIMATES ‐ EPS Q2 ‐0.06 ‐0.04 ‐0.11 N/A

Q4 ‐0.12 ‐1.55 ‐0.30 N/A

Q1 ‐0.13 ‐0.16 ‐0.15 ‐0.12 YEAR 2014 2015 2016 2017

Mar 17 ‐0.12 0.00 ‐86% ‐‐ 535% 31

Q4 N/A ‐271.52 ‐40.23 N/A

Dec 16 ‐0.30 0.00 ‐304% ‐‐ ‐47% 21

BLOOMBERG BEST ESTIMATES ‐ EBITDA Q2 Q3 ‐5.74 ‐20.29 ‐5.70 ‐10.13 ‐12.34 ‐2.89 N/A N/A

Sep 16 ‐0.11 0.04 ‐82% ‐‐ 0% 29

Q1 ‐10.15 ‐31.91 ‐23.48 0.32

Jun 16 ‐0.11 0.04 ‐98% ‐‐ ‐‐ 23

YEAR 2014 2015 2016 2017

Mar 16 ‐0.15 ‐0.05 ‐667% ‐‐ ‐‐ 5

Q4 0.00 39.76 21.12 N/A

Dec 15 ‐1.55 0.09 ‐831% ‐‐ ‐‐ 40

BLOOMBERG BEST ESTIMATES ‐ REVENUE Q1 Q2 Q3 19.89 14.94 19.01 0.00 N/A 28.67 4.93 23.15 28.62 31.28 N/A N/A

Sep 15 ‐0.28 0.06 ‐205% ‐45% 51% 29

YEAR 2014 2015 2016 2017




0

500

1000

1500

2000

2500

3000

Mar 17 ‐1405% N/A 12% 1.95 ‐0.87

Estimates

Financial Details


Trading Data

Stock Price

Quarter

Corporate

Erin Energy Corporation operates as an independent oil and gas exploration and production company. The Company offers crude oil, natural gas, and other oil products. Erin Energy owns a portfolio of onshore and offshore assets in the United States, Nigeria, Kenya, Gambia, South Africa, and Ghana.

Erin Energy Corporation

Erin Energy Corporation

SPX

69


Ticker: EPM


0

2

4

6

8

10

12

14

16


2011 ‐0.01 0.11 3% ‐1% 50% 7.53

32K ‐1117.90 133.55 1.23 ‐99.83 ‐953.32



Financial Details 2013 0.21 0.42 50% 13% 19% 21.35

97K 8.11 319.62 1.35 ‐99.64 ‐868.25

CLOSE PRICE

35K ‐391.66 36.72 1.27 ‐99.73 ‐911.56

2012 0.16 0.37 49% 11% 139% 17.96

80K 2.84 ‐7.18 1.35 ‐98.39 ‐781.03

2015 0.13 0.32 30% 12% 58% 27.84

200D MAVG

75K 6.20 118.56 1.35 ‐99.04 ‐824.42

2014 0.09 0.26 31% 8% ‐17% 17.67

70K 1.77 ‐34.41 1.34 ‐61.16 ‐738.23

2016 0.73 0.93 130% 14% ‐5% 26.35

50D MAVG

Corporate


Float: 33.06 MM

Mkt Cap: $272.76 MM

SPX


1 2 3 4 5 6 7 8 9 10

Change ‐19% ‐45% ‐13%

Change ‐5% ‐9% 8% ‐11% ‐14% 92% ‐31%

3,851,719 2,711,537 2,195,553 2,000,337 1,690,062 1,187,925 1,180,879 907,800 830,200 800,000

Dec 16 9% 4% 7


Top 10 Holders (Shares Held) JVL ADVISORS LLC ADVISORY RESEARCH INCORPORATED ARROWMARK PARTNERS BLACKROCK HERLIN ROBERT S VANGUARD GROUP BELRIDGE ENERGY ADVISORS FUND RENAISSANCE TECHNOLOGIES LLC FENIMORE ASSET MANAGEMENT INC PENINSULA CAPITAL MANAGEMENT LP

Dec 16 80% 84% 131 33 30 23 9


Ownership

Q3 0.02 0.02 ‐0.01 0.07

Q4 0.04 0.05 0.63 0.067 E

Q1 0.05 0.03 0.09 0.02 YEAR 2014 2015 2016 2017

BLOOMBERG BEST ESTIMATES ‐ EPS Q2 ‐0.02 0.03 0.02 0.07

Q4 2.66 4.54 2.18 5.525 E

BLOOMBERG BEST ESTIMATES ‐ EBITDA Q2 Q3 0.18 1.68 3.09 2.40 1.03 0.60 5.00 5.43

Dec 16 0.07 0.13 43% 11% 29% 9

Q1 2.28 2.23 3.94 4.02

Sep 16 0.02 0.04 36% 10% ‐8% 8

YEAR 2014 2015 2016 2017

Jun 16 0.63 0.76 392% 11% ‐20% 7

Q4 4.31 9.06 7.24 9.523 E

Mar 16 ‐0.01 0.04 ‐4% 13% ‐28% 5

BLOOMBERG BEST ESTIMATES ‐ REVENUE Q2 Q3 4.39 4.34 7.71 7.06 6.62 5.11 8.53 9.53

Dec 15 0.02 0.07 18% 13% ‐14% 7

Q1 4.63 4.00 8.25 7.59

Sep 15 0.09 0.07 59% 13% 106% 8

YEAR 2014 2015 2016 2017




0

500

1000

1500

2000

2500

3000

Mar 17 ‐81% 0.07 11% 1.15 0.36

Evolution Petroleum Corporation explores for and produces oil and gas. The Company focuses on acquiring established oil and gas fields and applying specialized technology to increase production rates. Evolution Petroleum serves customers in the State of Texas.

Evolution Petroleum Corporation

Evolution Petroleum Corporation

Estimates

Annual

Trading Data

Stock Price


70 SPX

Mar 17 0.07 0.17 41% 15% 87% 10


Ticker: FTK

Exchange: New York


Mkt Cap: $484.95 MM

Annual

0

5

10

15

20

25

30

35




672K 2.85 ‐72.36 39.34 ‐82.19 ‐6.05

2011 0.60 0.73 15% ‐‐ 76% 258.79

2013 0.70 0.77 15% 18% 19% 371.07

2,095K 19.42 1397.76 45.36 ‐63.74 ‐4.26

CLOSE PRICE

542K 10.15 384.13 40.71 ‐78.10 ‐5.43

2012 1.03 1.03 15% 46% 21% 312.83

394K 0.19 14.86 41.29 ‐79.49 ‐3.27

2015 ‐0.25 0.47 4% 2% ‐40% 269.97

200D MAVG

2,074K 13.73 243.67 44.71 ‐66.19 ‐3.40

2014 0.98 0.90 18% 19% 21% 449.16

617K ‐5.99 ‐23.03 40.35 ‐83.23 ‐3.29

2016 ‐0.88 0.04 1% ‐2% ‐3% 262.83

50D MAVG

SPX


Q4 0.30 ‐0.03 ‐0.24 0.143 E

BLOOMBERG BEST ESTIMATES ‐ EPS Q2 Q3 0.20 0.26 ‐0.23 0.04 ‐0.04 ‐0.05 0.04 E 0.103 E Q1 0.22 ‐0.03 ‐0.55 ‐0.20 YEAR 2014 2015 2016 2017

1 2 3 4 5 6 7 8 9 10

Change 20% ‐94% 9%

6,760,587 5,646,416 4,885,959 4,122,902 2,753,042 2,644,151 2,605,446 2,523,852 1,518,010 1,254,635

Dec 16 5% 1% 12


Top 10 Holders (Shares Held) BLACKROCK GATES CAPITAL MANAGEMENT INC VANGUARD GROUP MILLENNIUM MANAGEMENT LLC WADDELL & REED FINANCIAL INC INVESCO LTD BARROW HANLEY MEWHINNEY & STRAUS BARON CAPITAL INC NORTHPOINTE CAPITAL LLC STATE STREET CORP

Dec 16 119% 124% 231 73 66 35 16


Ownership Change 4% 5% ‐3% ‐12% ‐4% ‐24% ‐47%

Q4 28.14 ‐2.99 ‐0.2 E 14.6 E

Dec 16 ‐0.24 0.05 9% 9% 11% 71

BLOOMBERG BEST ESTIMATES ‐ EBITDA Q2 Q3 22.27 25.31 ‐14.00 7.21 0.51 ‐0.75 5.933 E 10.95 E

Sep 16 ‐0.05 0.04 ‐7% 11% ‐16% 74

Q1 23.02 3.28 2.62 2.41

Jun 16 ‐0.04 0.06 ‐5% 13% ‐17% 72

YEAR 2014 2015 2016 2017

Mar 16 ‐0.55 ‐0.12 0% 6% ‐23% 64

Q4 124.50 63.86 70.60 106 E

Dec 15 ‐0.03 0.14 2% ‐3% ‐49% 64


Sep 15 0.04 0.11 3% 2% ‐25% 88

YEAR 2014 2015 2016 2017




0

500

1000

1500

2000

2500

3000

Mar 17 13% N/A 13% 1.65 ‐0.53

Estimates

Financial Details


Trading Data

Stock Price

Quarter

Corporate

Flotek Industries, Inc. manufactures and markets downhole equipment and specialty chemicals. The Company also engineers, designs, and constructs equipment for cementing and stimulation. Flotek serves major and independent companies in the international oilfield service industry.

Flotek Industries Inc

Flotek Industries Inc

SPX

71

Mar 17 ‐0.20 ‐0.05 ‐1% 0% 25% 80


Ticker: GST


0

1

2

3

4

5

6

7

8

9

10


‐‐ ‐‐



Financial Details

‐5.42

86K ‐21.88 ‐49.12

2011 ‐0.03 0.18 ‐2% ‐2% 20% 37.90

‐‐ ‐‐

‐‐

CLOSE PRICE

‐5.68

208K ‐9.79 ‐27.58

2012 ‐2.53 0.58 ‐277% ‐3% 46% 55.51

‐77.90 ‐5.37

497K ‐2.98 44.47

2013 0.66 0.79 36% 51% 67% 92.51

253K ‐18.72 ‐58.81 31.33 ‐96.92 ‐5.49

2015 ‐6.11 0.66 ‐556% ‐‐ ‐46% 82.71

200D MAVG

287K ‐18.79 ‐43.95 31.93 ‐93.19 ‐5.42

2014 0.58 1.02 34% 14% 64% 151.85

847K ‐28.35 28.10 31.63 ‐96.10 ‐5.46

2016 ‐0.93 0.06 ‐146% ‐‐ ‐26% 61.12

50D MAVG

Corporate


Float: 211.90 MM

Mkt Cap: $186.88 MM

SPX


1 2 3 4 5 6 7 8 9 10

Change ‐40% N/A 0%

56,712,088 6,565,000 6,454,111 5,773,871 5,450,000 3,850,366 3,824,323 3,583,911 2,727,000 2,649,958

Dec 16 3% 0% 7


Top 10 Holders (Shares Held) ARES MANAGEMENT LLC KLEINHEINZ CAPITAL PARTNERS INC WILKS BROTHERS LLC VANGUARD GROUP YORK CAPITAL MANAGMENT GLOBAL AD KENNEDY CAPITAL MANAGEMENT BLACKROCK VENOR CAPITAL MANAGEMENT LP CENTERBRIDGE PARTNERS PORTER JAMES RUSSELL

Dec 16 44% 48% 99 27 21 11 21


Ownership Change 15% 7% ‐21% ‐34% ‐48% 22% ‐9%

Q4 0.35 ‐2.07 ‐0.06 ‐0.027 E

BLOOMBERG BEST ESTIMATES ‐ EPS Q2 Q3 0.03 0.16 ‐1.52 ‐2.47 ‐0.17 ‐0.03 ‐0.036 E ‐0.032 E Q1 ‐0.03 ‐0.04 ‐0.93 ‐0.14 YEAR 2014 2015 2016 2017

Mar 17 ‐0.14 ‐0.05 ‐100% ‐‐ 29% 19

Q4 49.47 ‐132.33 9.06 11.54 E

Dec 16 ‐0.06 ‐0.11 ‐26% ‐‐ ‐3% 17

BLOOMBERG BEST ESTIMATES ‐ EBITDA Q2 Q3 22.82 31.52 ‐91.38 ‐164.88 0.45 13.18 9.828 E 10.286 E

Sep 16 ‐0.03 0.13 ‐1% ‐‐ ‐15% 15

Q1 20.88 22.64 ‐46.86 8.93

Jun 16 ‐0.17 ‐0.09 ‐97% ‐‐ ‐37% 15

YEAR 2014 2015 2016 2017

Mar 16 ‐0.93 0.19 ‐481% ‐‐ ‐40% 15

Q4 33.12 17.75 17.16 21.429 E

Dec 15 ‐2.07 ‐0.05 ‐887% ‐‐ ‐46% 18


Sep 15 ‐2.47 0.23 ‐1102% ‐‐ ‐51% 17

YEAR 2014 2015 2016 2017




0

500

1000

1500

2000

2500

3000

Mar 17 173% N/A 7% 1.20 ‐0.06

Gastar Exploration Incorporated is a Houston‐based independent energy company engaged in the exploration, development and production of oil, natural gas, condensate, and natural gas liquids in the United States. The Company's principal business activities include the identification, acquisition, and subsequent exploration and development of oil and natural gas properties.

Gastar Exploration Inc

Gastar Exploration Inc

Estimates

Annual

Trading Data

Stock Price


72 SPX


Ticker: GDP



Float: 9.11 MM

0 12/9/2016

2

4

6

8

10

12

14

16

18

20


‐‐ ‐‐ ‐‐ ‐‐ ‐‐ ‐‐



Financial Details

2011 ‐1.05 3.77 ‐14% ‐20% 34% 232.37

‐‐ ‐‐ ‐‐ ‐‐ ‐‐ ‐‐

‐‐ ‐‐ ‐‐ ‐‐ ‐‐ ‐‐

CLOSE PRICE

2012 ‐2.48 4.78 ‐33% ‐46% 9% 254.01

‐‐ ‐‐ ‐‐ ‐‐ ‐‐ ‐‐

3/9/2017

2013 ‐2.99 1.87 ‐48% ‐48% ‐21% 199.51

‐‐ ‐‐ ‐‐ ‐‐ ‐‐ ‐‐

2015 ‐7.28 ‐0.30 ‐363% ‐‐ ‐37% 131.92

200D MAVG

2014 ‐8.62 2.74 ‐169% ‐‐ 5% 208.55

‐‐ ‐‐ ‐‐ ‐‐ ‐‐ ‐‐

2016 4.20 ‐0.25 1341% ‐‐ ‐79% 27.27

50D MAVG

6/9/2017

SPX


1 2 3 4 5 6 7 8 9 10

Change N/A N/A N/A


Q3 ‐1.96 ‐0.44 ‐0.24 ‐0.1 E

4,130,170 1,567,744 854,545 621,606 609,041 375,019 375,000 241,047 224,475 112,500

Dec 16 5% 0% 1


Top 10 Holders (Shares Held) FRANKLIN RESOURCES ANCHORAGE CAPITAL GROUP LLC SENATOR INVESTMENT GROUP LP UBS JPMORGAN CHASE & CO TURNHAM JR ROBERT C GOODRICH WALTER G VANGUARD GROUP FMR LLC FERCHAU MARK E

Dec 16 0% 0% 0 0 0 0 0


Ownership

BLOOMBERG BEST ESTIMATES ‐ EPS Q2 ‐0.73 ‐0.68 ‐0.13 ‐0.242 E

Q4 ‐5.23 ‐5.17 3.69 0.073 E

Q1 ‐0.68 ‐0.58 ‐0.26 ‐0.63 YEAR 2014 2015 2016 2017

Mar 17 ‐0.63 0.51 ‐61% ‐‐ 51% 9

Q4 ‐221.33 ‐425.53 ‐2.21 7.988 E

Dec 16 3.69 ‐0.06 5424% ‐‐ ‐71% 7

BLOOMBERG BEST ESTIMATES ‐ EBITDA Q2 Q3 23.45 ‐51.18 19.29 25.45 ‐0.75 0.06 3.021 E 5.59 E

Sep 16 ‐0.24 ‐0.02 ‐193% ‐‐ ‐77% 7

Q1 24.38 19.86 ‐2.99 ‐1.20

Jun 16 ‐0.13 ‐0.02 ‐82% ‐‐ ‐83% 6

YEAR 2014 2015 2016 2017

Mar 16 ‐0.26 ‐0.14 ‐300% ‐‐ ‐83% 6

Q4 48.56 26.07 7.44 17.475 E

Dec 15 ‐5.17 ‐0.08 ‐1568% ‐‐ ‐46% 26


Sep 15 ‐0.44 ‐0.11 ‐57% ‐‐ ‐43% 31

YEAR 2014 2015 2016 2017




0

500

1000

1500

2000

2500

3000

Mar 17 15% N/A 8% N/A N/A

Estimates

Annual

Mkt Cap: $113.95 MM


Trading Data

Stock Price

Quarter

Corporate

Goodrich Petroleum Corporation develops and produces oil and natural gas products. The Company offers crude oil and natural gas properties. Goodrich Petroleum serves customers in the United States.

Goodrich Petroleum Corporation

Goodrich Petroleum Corporation

SPX

73


Ticker: GTE


0

1

2

3

4

5

6

7

8

9


‐‐ ‐‐

‐‐



Financial Details

0.60

83.21

887K

2011 0.46 1.29 39% 11% 60% 596.36

‐‐ ‐‐

‐‐ ‐‐ ‐‐

‐‐

CLOSE PRICE

0.68

96.79

1,563K

2012 0.35 0.56 34% 8% ‐2% 583.11

0.87

27.57

776K

2013 0.45 1.84 48% 13% 11% 646.96

‐‐ ‐‐

‐‐ ‐‐ ‐‐ 0.50

1,197K ‐0.66 ‐54.79

2015 ‐0.94 0.22 ‐133% ‐5% ‐51% 276.01

200D MAVG

0.74

‐52.17

810K

2014 ‐0.60 0.76 ‐3% 2% ‐14% 559.40

‐‐ ‐‐ 0.37

741K ‐3.04 ‐45.19

2016 ‐1.45 0.29 ‐225% ‐6% 5% 289.27

50D MAVG

Corporate


Float: 390.82 MM

Mkt Cap: $941.66 MM

SPX


1 2 3 4 5 6 7 8 9 10

Change ‐25% 195% 7%

48,839,100 22,780,847 18,692,327 14,965,670 13,364,532 12,167,224 10,986,444 10,765,803 10,391,613 10,050,996

Dec 16 1% 21% 15


Top 10 Holders (Shares Held) GMT CAPITAL CORP LUMINUS MANAGEMENT LLC FRANKLIN RESOURCES PUBLIC SECTOR PENSION INVT BOARD AMBER CAPITAL MANAGEMENT LP INVESCO LTD SUN LIFE FINANCIAL INC INGALLS & SNYDER CONNOR CLARK & LUNN INV TORONTO‐DOMINION BANK

Dec 16 76% 77% 228 84 58 18 17


Ownership Change ‐1% 1% 14% 53% ‐11% ‐33% ‐63%

Q4 ‐0.94 ‐0.29 ‐0.36 0.059 E

BLOOMBERG BEST ESTIMATES ‐ EPS Q2 Q3 0.03 0.15 ‐0.13 ‐0.36 ‐0.21 ‐0.71 0.033 E 0.049 E Q1 0.16 ‐0.16 ‐0.15 0.03 YEAR 2014 2015 2016 2017

Mar 17 0.03 0.13 33% ‐3% 65% 95

Q4 ‐156.19 28.533 E ‐111.63 87.533 E

Dec 16 ‐0.36 0.02 ‐172% ‐6% 67% 92

BLOOMBERG BEST ESTIMATES ‐ EBITDA Q2 Q3 108.61 120 E 32.93 ‐146.69 ‐53.35 ‐294.53 73.533 E 80.667 E

Sep 16 ‐0.71 0.15 ‐491% ‐5% ‐9% 69

Q1 116.38 ‐7.66 ‐32.05 53.56

Jun 16 ‐0.21 0.09 ‐120% ‐3% 3% 72

YEAR 2014 2015 2016 2017

Mar 16 ‐0.15 0.04 ‐122% ‐4% ‐25% 57

Q4 98.89 54.78 91.61 134.25 E

Dec 15 ‐0.29 0.01 ‐228% ‐5% ‐45% 55


Sep 15 ‐0.36 0.19 ‐213% ‐10% ‐53% 76

YEAR 2014 2015 2016 2017




0

500

1000

1500

2000

2500

3000

Mar 17 17% N/A 14% 1.13 0.05

Gran Tierra Energy, Inc. is an international oil and gas exploration and production company. Gran Tierra holds interests in producing and prospective properties in Colombia, Peru, and Brazil. Gran Tierra has a strategy that focuses on establishing a portfolio of producing properties, plus production enhancement and exploration opportunities to provide a base for future growth.

Gran Tierra Energy Inc

Gran Tierra Energy Inc

Estimates

Annual

Trading Data

Stock Price


74 SPX


Ticker: GXO CN

Exchange: Toronto


Float: 33.72 MM

Mkt Cap: $166.93 MM

Annual

0

2

4

6

8

10

12

14

16


N/A ‐‐ ‐‐ ‐‐ ‐‐



0.10

2011 ‐0.66 0.38 ‐50% ‐11% 341% 26.69

‐‐ ‐‐

‐‐ ‐‐ ‐‐

‐‐

CLOSE PRICE

0.45

171.25

20K

2012 0.33 2.79 16% 2% 160% 69.44

0.99

308.98

74K

2013 0.72 3.85 20% 9% 98% 137.64

‐‐ ‐‐

‐‐ ‐‐ ‐‐

‐‐

1.18

247.51

218K

2015 4.99 2.04 142% 16% ‐54% 107.86

200D MAVG

1.00

18.84

253K

2014 2.67 6.42 45% 15% 71% 234.74

‐‐ ‐‐

‐‐

1.13

‐20.23

160K

2016 ‐0.22 0.82 ‐23% 0% ‐65% 38.22

50D MAVG

SPX


1 2 3 4 5 6 7 8 9 10

Change 64% 10% ‐14%

Change ‐11% ‐7% ‐6% 0% ‐56% ‐50% 33%

5,185,894 3,229,700 1,468,018 1,222,532 945,213 796,513 618,213 537,741 511,242 504,489

Dec 16 10% 5% 12


Top 10 Holders (Shares Held) GMT CAPITAL CORP ROYAL BANK OF CANADA HAMM HENRY AMERICAN BEACON ADVISORS DIMENSIONAL FUND ADVISORS LP GENERAL ELECTRIC COMPANY KABANUK MICHAEL PORTER BRADLEY B CARRIGY BRENDAN CHEYNE MARTIN J

Dec 16 35% 39% 34 9 4 4 12


Ownership

Q3 0.72 0.21 0.03 0.07 E

Q4 0.96 ‐0.05 ‐0.03 0.08 E

Q1 0.33 0.06 ‐0.07 0.07 YEAR 2014 2015 2016 2017

BLOOMBERG BEST ESTIMATES ‐ EPS Q2 0.63 4.78 ‐0.16 0.05 E

Q4 36.88 10.28 5.90 8.9 E

Dec 16 ‐0.03 0.19 ‐14% 0% ‐41% 10


Sep 16 0.03 0.26 17% 1% ‐47% 10

Q1 35.59 27.91 4.98 5.95

Jun 16 ‐0.16 0.16 ‐68% 3% ‐68% 9

YEAR 2014 2015 2016 2017

Mar 16 ‐0.07 0.20 ‐29% 14% ‐79% 9

Q4 53.68 17.24 10.23 16.4 E

Dec 15 ‐0.05 0.66 ‐11% 16% ‐68% 17


Sep 15 0.21 0.04 50% 19% ‐74% 18

YEAR 2014 2015 2016 2017




0

500

1000

1500

2000

2500

3000

Mar 17 12% 0.04 10% 0.95 0.23

Estimates

Financial Details


Trading Data

Stock Price

Quarter

Corporate

Granite Oil Corp. is a dividend‐paying, junior oil producer based in Calgary, Alberta that owns and operates in the recently discovered Alberta Bakken oil pool in southern Alberta. Granite was founded in May 2015 through a Plan of Arrangement that divided DeeThree Exploration Ltd. into two pure‐play companies, Granite Oil Corp. and Boulder Energy Ltd.

Granite Oil Corporation

Granite Oil Corporation

SPX

75

Mar 17 0.07 0.18 37% 1% 9% 10


Ticker: HAL

Exchange: New York

0

10

20

30

40

50

60

70

80


18,105K 9.89 ‐8.97 56.87 ‐43.50 5.34

2011 3.09 4.01 18% 26% 38% 24829.00



Financial Details

15,281K 37.15 68.66 64.42 ‐13.13 6.98

2013 2.37 4.95 9% 19% 3% 29402.00

CLOSE PRICE

16,840K 23.87 90.81 56.97 ‐43.16 5.57

2012 2.85 3.95 13% 19% 15% 28503.00

11,986K ‐0.85 ‐1.36 53.74 ‐57.53 6.67

2015 ‐0.79 3.41 ‐4% 8% ‐28% 23633.00

200D MAVG

19,423K 18.49 ‐3.67 56.88 ‐49.98 7.09

2014 4.13 4.79 14% 23% 12% 32870.00

8,557K 12.11 55.92 62.24 ‐30.79 7.86

2016 ‐6.69 ‐1.98 ‐48% 0% ‐33% 15887.00

50D MAVG

Corporate


Mkt Cap: $37347.86 MM

SPX


Jun 17 0.03 0.40 0% 3% 29% 4,957

1 2 3 4 5 6 7 8 9 10

Change ‐7% ‐185% 5%

Change 9% 10% ‐4% ‐13% 0% ‐5% ‐30%

106,606,514 58,503,306 51,835,128 42,804,837 20,413,182 15,102,445 14,980,525 14,477,716 13,824,633 12,924,329

Dec 16 0% ‐9% 21


Top 10 Holders (Shares Held) CAPITAL GROUP COMPANIES INC VANGUARD GROUP BLACKROCK STATE STREET CORP WELLINGTON MANAGEMENT GROUP LLP FMR LLC JENNISON ASSOCIATES LLC MACQUARIE GROUP WADDELL & REED FINANCIAL INC BNY MELLON

Dec 16 101% 101% 1533 458 539 120 155

Dec 15 92% 92% 1591 526 540 126 223

BLOOMBERG BEST ESTIMATES ‐ EPS Q2 Q3 0.92 1.42 0.06 ‐0.06 ‐3.73 0.01 0.03 0.368 E


Ownership

Q1 0.73 ‐0.76 ‐2.81 ‐0.04

Q4 1.06 ‐0.03 ‐0.17 0.456 E YEAR 2014 2015 2016 2017

Mar 17 ‐0.04 0.01 ‐1% ‐1% 2% 4,279

Q4 1856.00 488.00 439.00 1081.679 E

Dec 16 ‐0.17 1.22 ‐4% 0% ‐21% 4,021

BLOOMBERG BEST ESTIMATES ‐ EBITDA Q1 Q2 Q3 1480.00 1718.00 2169.00 12.00 710.00 460.00 ‐2733.00 ‐3484.00 503.00 586.00 532.00 977.607 E

Sep 16 0.01 1.21 ‐1% 1% ‐31% 3,833

YEAR 2014 2015 2016 2017

Jun 16 ‐3.73 ‐4.22 ‐107% 3% ‐35% 3,835

Q4 8770.00 5082.00 4021.00 5603.107 E

Mar 16 ‐2.81 ‐0.20 ‐78% 6% ‐40% 4,198


Dec 15 ‐0.03 1.03 ‐2% 8% ‐42% 5,082

YEAR 2014 2015 2016 2017




0

500

1000

1500

2000

2500

3000

Jun 17 47% 0.18 9% 1.15 ‐0.07

Halliburton Company provides energy and engineering and construction services, as well as manufactures products for the energy industry. The Company offers services and products and integrated solutions to customers in the exploration, development, and production of oil and natural gas.

Halliburton Company

Halliburton Company

Estimates

Annual

Trading Data

Stock Price


76 SPX


Ticker: HUSA



Float: 51.28 MM

Mkt Cap: $33.33 MM

Annual

0

1

2

3

4

5

6

7

8

9

10


‐‐ ‐‐

‐‐



2.62

299.67

51K

2011 ‐0.14 ‐0.15 ‐511% ‐7% ‐94% 1.16

‐‐ ‐‐

‐‐ ‐‐

CLOSE PRICE

1.94

136K ‐0.53 ‐93.49

2012 ‐1.46 ‐0.07 ‐13745% ‐181% ‐64% 0.41

1.39

159K ‐0.50 ‐95.94

2013 ‐0.06 0.00 ‐918% ‐23% ‐16% 0.35

‐‐ ‐‐

‐‐ ‐99.42 0.57

1,054K ‐3.82 ‐98.60

2015 ‐0.07 ‐0.04 ‐888% ‐37% 18% 0.43

200D MAVG

0.94

180K ‐1.19 ‐99.11

2014 ‐0.08 ‐0.03 ‐1197% ‐36% 5% 0.36

349K ‐7.87 ‐19.09 49.79 ‐99.73 0.28

2016 ‐0.05 ‐0.03 ‐1592% ‐54% ‐61% 0.17

50D MAVG

SPX


1 2 3 4 5 6 7 8 9 10

Change 2% N/A 25%

Change ‐45% ‐46% ‐5% 0% 0% N/A 300%

8,394,252 2,951,865 1,578,459 169,303 161,966 135,281 135,281 109,303 56,000 30,000

Dec 16 22% 0% 5


Top 10 Holders (Shares Held) TERWILLIGER JOHN F TAWES III ORRIE LEE BENCHMARK CAPITAL ADVISORS BOYLAN JOHN P KCG HOLDINGS INC GEODE CAPITAL MANAGEMENT LLC FMR LLC EJC VENTURES LP HARTZELL STEPHEN GRIMES R KEITH

Dec 16 4% 5% 21 3 3 1 4


Ownership

Q3 ‐0.01 ‐0.01 ‐0.01 N/A

Q4 ‐0.05 ‐0.04 ‐0.03 N/A

Q1 ‐0.01 ‐0.02 ‐0.01 ‐0.01 YEAR 2014 2015 2016 2017


Q4 ‐1.99 ‐1.41 ‐1.21 N/A

BLOOMBERG BEST ESTIMATES ‐ EBITDA Q2 Q3 ‐0.64 ‐0.44 ‐0.19 ‐0.32 ‐0.47 ‐0.35 N/A N/A

Dec 16 ‐0.03 ‐0.01 ‐3274% ‐54% ‐50% 0

Q1 ‐0.53 ‐1.06 ‐0.32 ‐0.48

Sep 16 ‐0.01 ‐0.01 ‐932% ‐41% ‐68% 0

YEAR 2014 2015 2016 2017

Jun 16 ‐0.01 ‐0.01 ‐1447% ‐39% ‐70% 0

Q4 0.13 0.09 0.04 N/A

Mar 16 ‐0.01 ‐0.01 ‐703% ‐35% ‐53% 0

BLOOMBERG BEST ESTIMATES ‐ REVENUE Q2 Q3 0.07 0.06 0.11 0.12 0.03 0.04 N/A N/A

Dec 15 ‐0.04 ‐0.01 ‐2056% ‐37% ‐33% 0

Q1 0.11 0.10 0.05 0.06

Sep 15 ‐0.01 ‐0.01 ‐372% ‐41% 119% 0

YEAR 2014 2015 2016 2017




0

500

1000

1500

2000

2500

3000

Mar 17 ‐20% N/A 6% 0.57 1.61

Estimates

Financial Details


Trading Data

Stock Price

Quarter

Corporate

Mar 17 ‐0.01 ‐0.01 ‐872% ‐56% 19% 0

Houston American Energy Corporation is an oil and gas exploration and production company. The Company's oil and gas exploration and production activities are focused on properties in the U.S. onshore Gulf Coast Region, principally Texas and Louisiana, and on the development of concessions in the South American country of Colombia.

Houston American Energy Corporation

Houston American Energy Corporation

SPX

77

Domicile: Fremantle, WA

Ticker: IOG AU

Exchange: ASE

0

0.05

0.1

0.15

0.2

0.25

0.3

0.35


‐‐ ‐‐ ‐‐ ‐‐ ‐‐



Financial Details

0.00

2011 0.01 0.02 19% 6% 38% 7.70

‐‐ ‐‐ ‐‐ ‐‐ ‐‐

‐‐ ‐‐ ‐‐ ‐‐ ‐‐

CLOSE PRICE

0.00

2012 0.02 0.03 29% 13% 106% 15.84

‐0.01

2013 ‐0.07 0.03 ‐136% ‐60% ‐32% 10.81

‐‐ ‐‐ ‐‐ ‐‐ ‐‐ ‐‐

‐‐

‐0.04

‐85.42

113K

2015 ‐0.02 0.00 ‐58% ‐51% ‐27% 4.71

200D MAVG

‐0.03

16K

2014 ‐0.05 0.01 ‐125% ‐34% ‐41% 6.40

‐‐ ‐‐

‐‐

‐0.04

‐80.41

37K

2016 0.00 0.00 ‐11% ‐45% 13% 5.34

50D MAVG

Corporate


Float: 202.19 MM

Mkt Cap: $4.85 MM

SPX


1 2 3 4 5 6 7 8 9 10

Change 2% 570% 0%

Change ‐20% ‐28% 0% N/A ‐100% 0% N/A

24,715,004 16,232,236 10,000,000 8,526,952 7,610,000 7,580,900 6,365,100 6,250,000 6,020,002 5,400,067

Dec 16 25% 9% 5


Top 10 Holders (Shares Held) MCGANN GERARD JOSEPH STOWELL MARK HILTON FAST LANE AUS PTY LTD MERCHANT HLDGS PL ASCOT PARK ENTERPRISES PTY LTD TRINITY MGMT GROUP PTY LTD WHISLER JOHN UPORA PTY LTD AUSTRALIAN EXECUTOR TRUSTEES LTD LINEAR A PTY LTD

Dec 16 9% 7% 4 0 0 1 0


Ownership

Q3 N/A N/A N/A N/A

Q4 N/A N/A N/A N/A

Q1 N/A N/A N/A N/A YEAR 2014 2015 2016 2017


Q4 N/A N/A N/A N/A

BLOOMBERG BEST ESTIMATES ‐ EBITDA Q2 Q3 N/A N/A N/A N/A N/A N/A N/A N/A

Dec 16 ‐‐ ‐‐ ‐‐ ‐‐ ‐‐ ‐‐

Q1 N/A N/A N/A N/A

Jun 16 ‐‐ ‐‐ ‐‐ ‐‐ ‐‐ ‐‐

YEAR 2014 2015 2016 2017

Jun 15 ‐‐ ‐‐ ‐‐ ‐‐ ‐‐ ‐‐

Q4 N/A N/A N/A N/A

Dec 14 ‐‐ ‐‐ ‐‐ ‐‐ ‐‐ ‐‐

BLOOMBERG BEST ESTIMATES ‐ REVENUE Q2 Q3 N/A N/A N/A N/A N/A N/A N/A N/A

Sep 14 ‐‐ ‐‐ ‐‐ ‐‐ ‐‐ ‐‐

Q1 N/A N/A N/A N/A

Jun 14 ‐‐ ‐‐ ‐‐ ‐‐ ‐‐ ‐‐

YEAR 2014 2015 2016 2017




0

500

1000

1500

2000

2500

3000

Mar 17 58% N/A 6% N/A N/A

Mar 17 ‐‐ ‐‐ ‐‐ ‐‐ ‐‐ ‐‐

Incremental Oil & Gas Ltd. explores for oil and natural gas. The Company operates in the Sheep Springs Producing Oilfield, Round Mountain Development Project, Guijarral Hills Development Project, and the Raven Pass Exploration Project in California.

Incremental Oil & Gas Ltd

Incremental Oil & Gas Ltd

Estimates

Annual

Trading Data

Stock Price


78 SPX


Ticker: ICD

Exchange: New York Sector: Oil Equipment, Services & Distribution


0 8/8/2014

2

4

6

8

10

12

14

11/8/2014


2/8/2015

‐‐ ‐‐ ‐‐ ‐‐ ‐‐ ‐‐


Annual

Financial Details

‐‐ ‐‐ ‐‐ ‐‐ ‐‐ ‐‐

2012 ‐0.31 ‐0.52 ‐68% ‐‐ ‐‐ 15.12

‐‐ ‐‐ ‐‐ ‐‐ ‐‐ ‐‐

8/8/2015

CLOSE PRICE

5/8/2015

2011 ‐‐ ‐‐ ‐‐ ‐‐ ‐‐ ‐‐

2013 ‐0.10 0.31 ‐9% ‐1% 183% 42.79

11/8/2015

‐‐ ‐‐ ‐‐ ‐‐ ‐‐ ‐‐

‐‐ ‐‐ ‐‐ ‐‐ ‐‐ ‐‐

2015 ‐0.33 1.15 ‐9% ‐1% 26% 88.42

2/8/2016

200D MAVG

2014 ‐1.65 0.22 ‐45% ‐5% 64% 70.35

‐‐ ‐‐ ‐‐ ‐‐ ‐‐ ‐‐

5/8/2016

2016 ‐0.67 0.51 ‐31% ‐7% ‐21% 70.06

8/8/2016

50D MAVG

Corporate 11/8/2016

2/8/2017

SPX


Float: 37.81 MM

Mkt Cap: $141.03 MM

0

Q1 ‐1.78 5.82 6.39 0.66 Q1 ‐0.19 0.06 ‐0.02 ‐0.17

YEAR 2014 2015 2016 2017

1 2 3 4 5 6 7 8 9 10

Dec 15 ‐0.22 0.24 ‐22% ‐1% 3% 24

Mar 16 ‐0.02 0.30 ‐2% ‐1% 1% 22

Jun 16 ‐0.12 0.24 ‐27% ‐3% ‐28% 15

Change ‐39% ‐45% ‐8%

Change 9% 0% 36% 67% 31% 143% 38%

4,611,000 3,144,613 2,614,917 2,094,551 1,947,076 1,635,086 1,527,097 1,381,200 1,356,574 1,278,900

Dec 16 2% ‐3% 12


Top 10 Holders (Shares Held) CAPITAL GROUP COMPANIES INC 4D GLOBAL ENERGY ADVISORS ADAGE CAPITAL MANAGEMENT LP JENNISON ASSOCIATES LLC SPROTT INC ROYCE AND ASSOCIATES LLC LIME ROCK MANAGEMENT LP VAN ECK ASSOCIATES CORPORATION BLACKROCK FEDERATED INVESTORS INC

Dec 16 109% 120% 106 40 21 17 11

Dec 15 100% 120% 78 24 16 7 8

BLOOMBERG BEST ESTIMATES ‐ EPS Q2 Q3 0.08 ‐0.07 ‐0.03 ‐0.14 ‐0.12 ‐0.19 ‐0.133 E ‐0.089 E

BLOOMBERG BEST ESTIMATES ‐ EBITDA Q2 Q3 5.35 3.54 5.33 2.79 2.72 ‐0.70 3.375 E 4.9 E


Ownership

Sep 15 ‐0.14 0.16 ‐17% ‐3% 12% 21

Sep 16 ‐0.19 0.03 ‐50% ‐5% ‐32% 14


YEAR 2014 2015 2016 2017

YEAR 2014 2015 2016 2017




5/8/2017

500

1000

1500

2000

2500

3000

Mar 17 7% N/A 12% 1.59 ‐0.60


Trading Data

Stock Price

Quarter

Mar 17 ‐0.17 ‐0.04 ‐31% ‐9% ‐10% 20

Q4 ‐1.00 ‐0.22 ‐0.28 ‐0.065 E

Q4 ‐23.99 2.26 ‐3.53 5.875 E

Q4 23.01 23.69 17.99 25.7 E

Dec 16 ‐0.28 0.01 ‐57% ‐7% ‐24% 18

Independence Contract Drilling Inc. is a vertically integrated land drilling services provider. The Company provides the United States exploration and production industry a fleet of state‐of‐the‐art, fast moving programmable AC rigs for drilling and development of shale and tight oil basins in North America.

Independence Contract Drilling Inc

Independence Contract Drilling Inc

SPX

79


Ticker: IPO CN

Exchange: Toronto

0

100

200

300

400

500

600

700

800

900

1000


‐‐ ‐‐

‐‐

‐81.25

0K

2011 ‐130.00 314.77 ‐29% 0% 34% 103.86

‐1704.31



Financial Details

‐‐ ‐‐

‐‐ ‐‐ ‐‐

‐‐

‐1969.82

‐87.07

1K

2013 ‐610.00 60.97 ‐137% ‐93% ‐40% 45.13

CLOSE PRICE

‐1861.28

‐79.57

1K

2012 ‐180.00 172.93 ‐55% ‐13% ‐28% 75.24

‐‐ ‐‐

‐‐ ‐‐ ‐‐ ‐2071.22

0K ‐9985.00 ‐97.22

2015 ‐2500.00 1321.84 ‐136% ‐‐ ‐37% 29.57

200D MAVG

‐2035.21

‐89.05

0K

2014 ‐330.00 97.38 ‐120% ‐‐ 4% 47.13

‐‐ ‐‐ ‐2076.87

0K ‐7998.02 ‐99.16

2016 1.02 0.27 53% 0% ‐14% 25.38

50D MAVG

Corporate


SPX


Sep 15 ‐1420.00 417.51 ‐224% ‐‐ 11% 10

Q4 ‐310.00 ‐2726.04 0.49 N/A

BLOOMBERG BEST ESTIMATES ‐ EPS Q2 Q3 ‐10.00 ‐10.00 ‐20.00 ‐1420.00 ‐0.34 ‐0.13 N/A N/A Q1 0.00 140.00 ‐230.00 0.02 YEAR 2014 2015 2016 2017

1 2 3 4 5 6 7 8 9 10


20,946,488 7,096,619 2,883,493 2,267,436 2,066,667 1,110,358 258,863 133,379 123,633 110,321

Dec 16 1% 0% 14


Top 10 Holders (Shares Held) JOG CAPITAL SPROTT INC MITCHELL BRUCE ANSON FUNDS MGMT INC VERTEX ONE ASSET MANAGEMENT INC FRIGATE VENTURES LP BARTOLE DOUGLAS J REESE GORDON DITTMER DARREN W JENSEN THANE A E

Dec 16 47% 22% 4 0 0 3 0


Ownership Change 3182% 1267% 300% N/A N/A N/A ‐100%

Q4 7.56 ‐44.18 29.87 N/A

BLOOMBERG BEST ESTIMATES ‐ EBITDA Q2 Q3 7.17 4.05 3.06 ‐18.81 0.30 1.21 N/A N/A

Mar 17 0.02 0.10 11% 5% 188% 14

Q1 7.25 31.83 ‐0.05 5.74

Dec 16 0.49 0.09 180% 1% 115% 14

YEAR 2014 2015 2016 2017

Sep 16 ‐0.13 ‐0.13 ‐36% ‐‐ ‐47% 5

Q4 11.79 6.33 13.62 N/A

Jun 16 ‐0.34 0.11 ‐154% ‐‐ ‐53% 3


Mar 16 ‐230.00 253.91 ‐73% ‐‐ ‐25% 5

Q1 12.79 6.25 4.72 13.57

Dec 15 ‐2726.00 776.46 ‐581% ‐‐ ‐46% 6

Mkt Cap: $96.71 MM

YEAR 2014 2015 2016 2017



Float: 62.40 MM


0

500

1000

1500

2000

2500

3000

Mar 17 14% N/A 5% 0.41 ‐1.27

InPlay’s activity is focused on large oil in place pools with low recovery factors, low declines, and long life reserves primarily targeting the Cardium Formation in Alberta.

InPlay Oil Corporation

InPlay Oil Corporation

Estimates

Annual

Trading Data

Stock Price


80 SPX


Ticker: JAG

Exchange: New York


Float: 212.93 MM


Annual

0 1/27/2017

2

4

6

8

10

12

14

16




‐‐ ‐‐ ‐‐ ‐‐ ‐‐ ‐‐

2011 ‐‐ ‐‐ ‐‐ ‐‐ ‐‐ ‐‐

CLOSE PRICE

‐‐ ‐‐ ‐‐ ‐‐ ‐‐ ‐‐

2012 ‐‐ ‐‐ ‐‐ ‐‐ ‐‐ ‐‐

‐‐ ‐‐ ‐‐ ‐‐ ‐‐ ‐‐

2013 ‐‐ ‐‐ ‐‐ ‐‐ ‐‐ ‐‐

‐‐ ‐‐ ‐‐ ‐‐ ‐‐ ‐‐

2015 ‐0.04 0.10 ‐19% 0% 133% 39.79

4/27/2017

200D MAVG

‐‐ ‐‐ ‐‐ ‐‐ ‐‐ ‐‐

2014 ‐‐ ‐‐ 8% ‐‐ ‐‐ 17.04

‐‐ ‐‐ ‐‐ ‐‐ ‐‐ ‐‐

2016 ‐0.05 0.15 ‐13% 0% 87% 74.23

50D MAVG

SPX


1 2 3 4 5 6 7 8 9 10

Change N/A N/A N/A

146,337,026 17,173,036 7,589,787 5,757,211 3,429,555 3,196,150 2,623,140 2,580,943 2,404,554 2,086,137

Dec 16 N/A N/A N/A


Top 10 Holders (Shares Held) Q‐JAGGED PEAK ENERGY INV PRT LLC JAGGERS JOSEPH N T ROWE PRICE GROUP INC BOSTON PARTNERS ALYESKA INVESTMENT GROUP LP HINDS GREGORY S FRANKLIN RESOURCES BALES LAURIE VANGUARD GROUP GOLDMAN SACHS GROUP INC



Ownership Change N/A N/A N/A N/A N/A N/A N/A

Q4 N/A N/A ‐0.01 0.141 E

Q1 N/A N/A ‐0.012 E ‐0.42

BLOOMBERG BEST ESTIMATES ‐ EPS Q2 Q3 N/A N/A N/A N/A 0.026 E ‐0.024 E 0.07 E 0.103 E

Mar 17 ‐0.42 0.10 ‐983% ‐‐ ‐‐ 38

YEAR 2014 2015 2016 2017

Dec 16 ‐0.01 0.07 ‐8% ‐‐ ‐‐ 24

Q4 N/A N/A 15.98 85.557 E

Sep 16 ‐‐ ‐‐ ‐‐ ‐‐ ‐‐ ‐‐

BLOOMBERG BEST ESTIMATES ‐ EBITDA Q1 Q2 Q3 N/A N/A N/A N/A N/A N/A 1.84 E 12.5 E 14.1 E ‐380.02 41.986 E 65.214 E

Jun 16 ‐‐ ‐‐ ‐‐ ‐‐ ‐‐ ‐‐

YEAR 2014 2015 2016 2017

Mar 16 ‐‐ ‐‐ ‐‐ ‐‐ ‐‐ ‐‐

Q4 N/A N/A 23.74 110.867 E

Dec 15 ‐‐ ‐‐ ‐‐ ‐‐ ‐‐ ‐‐

BLOOMBERG BEST ESTIMATES ‐ REVENUE Q1 Q2 Q3 N/A N/A N/A N/A N/A N/A 10 E 18.4 E 22.15 E 38.32 57.278 E 84.278 E

Sep 15 ‐‐ ‐‐ ‐‐ ‐‐ ‐‐ ‐‐

YEAR 2014 2015 2016 2017




0

500

1000

1500

2000

2500

3000

Mar 17 27% N/A 10% N/A N/A

Estimates

Financial Details


Trading Data

Stock Price

Quarter

Corporate

Jagged Peak Energy Inc. operates as an oil and natural gas company. The Company focuses on the acquisition and development of unconventional oil and associated natural gas reserves. Jagged Peak Energy serves in the Delaware Basin, a sub‐basin of the Permian Basin of West Texas.

Jagged Peak Energy Inc

Jagged Peak Energy Inc

SPX

81


Ticker: KEG

Exchange: New York

0 12/16/2016

5

10

15

20

25

30

35

40


‐‐ ‐‐ ‐‐ ‐‐ ‐‐ ‐‐



Financial Details

2011 0.70 1.29 10% 13% 50% 1729.21

‐‐ ‐‐ ‐‐ ‐‐ ‐‐ ‐‐

‐‐ ‐‐ ‐‐ ‐‐ ‐‐ ‐‐

‐‐ ‐‐ ‐‐ ‐‐ ‐‐ ‐‐

‐‐ ‐‐ ‐‐ ‐‐ ‐‐ ‐‐

2015 ‐5.86 ‐0.14 ‐140% ‐22% ‐44% 792.33

200D MAVG

2014 ‐1.16 1.07 ‐18% ‐6% ‐10% 1427.34

3/16/2017

2013 ‐0.14 1.50 ‐2% ‐1% ‐19% 1591.68

CLOSE PRICE

2012 0.05 2.45 8% 8% 13% 1960.07

‐‐ ‐‐ ‐‐ ‐‐ ‐‐ ‐‐

2016 ‐7.07 ‐6.91 ‐33% ‐125% ‐47% 417.25

50D MAVG

Corporate


6/16/2017

SPX


Mar 17 ‐2.33 ‐0.63 ‐46% ‐143% ‐9% 101

Q4 ‐0.34 ‐0.97 8.12 ‐0.747 E


1 2 3 4 5 6 7 8 9 10

Change N/A N/A N/A

9,800,630 2,530,388 2,376,930 1,248,468 1,139,241 925,838 540,698 522,389 305,130 273,634

Dec 16 1% ‐97% 16


Top 10 Holders (Shares Held) PLATINUM EQUITY LLC STATE OF CALIFORNIA CONTRARIAN CAPITAL MANAGEMENT SOROS FUND MANAGEMENT LLC SILVER POINT CAPITAL LP GOLDMAN SACHS GROUP INC WHITEBOX ADVISORS LLC MHR FUND MANAGEMENT LLC BLACKROCK SCOGGIN LLC

Dec 16 9% 1% 2 0 0 1 0



Q4 ‐16.92 ‐94.65 ‐39.39 6.825 E

Q4 354.80 150.17 108.75 130.667 E

Dec 16 8.12 ‐1.70 153% ‐108% ‐28% 109

BLOOMBERG BEST ESTIMATES ‐ EBITDA Q2 Q3 1.14 ‐32.33 ‐33.41 ‐692.91 ‐35.31 ‐76.12 0 E 4.75 E

Sep 16 ‐0.81 ‐0.23 ‐128% ‐‐ ‐42% 102

Q1 44.97 ‐26.08 ‐25.76 ‐17.04

Mar 16 ‐0.51 ‐0.19 ‐74% ‐33% ‐59% 111

YEAR 2014 2015 2016 2017

Dec 15 ‐0.97 ‐0.01 ‐105% ‐22% ‐58% 150


Sep 15 ‐4.06 ‐0.08 ‐433% ‐10% ‐52% 177

YEAR 2014 2015 2016 2017




0

500

1000

1500

2000

2500

3000

Mar 17 39% N/A 7% N/A N/A

Jun 16 ‐0.58 ‐0.23 ‐98% ‐‐ ‐52% 95

Mkt Cap: $396.07 MM

Key Energy Services, Inc. offers oilfield services. The Company provides fluid management, ring, well testing, fishing, coiled tubing, and other related services. Key Energy Services serves customers worldwide.

Key Energy Services Inc

Key Energy Services Inc

Estimates

Annual

Trading Data

Stock Price


82 SPX


Ticker: LXE CN

Exchange: Venture


2/22/2015

5/22/2016

11/22/2016

5/22/2017

Q4 0.00 ‐0.09 ‐0.01 0.003 E

BLOOMBERG BEST ESTIMATES ‐ EPS Q2 Q3 N/A 0.00 0.19 ‐0.02 ‐0.02 ‐0.03 ‐0.002 E ‐0.002 E Q1 N/A ‐0.01 ‐0.02 ‐0.01 YEAR 2014 2015 2016 2017

1 2 3 4 5 6 7 8 9 10

Change 0% N/A ‐8%

21,026,000 14,151,884 5,407,379 2,860,000 2,533,610 2,297,400 2,000,000 1,811,742 1,650,000 1,608,200

Dec 16 8% 0% 12


Top 10 Holders (Shares Held) GMT CAPITAL CORP JOG CAPITAL ZAKRESKY ROBERT J POWER CORP OF CANADA CANADIAN IMPERIAL BANK OF COMMER VERTEX ONE ASSET MANAGEMENT INC SPROTT INC TRUDEAU TERRY L AGF MANAGEMENT LIMITED FRANKLIN RESOURCES

Dec 16 17% 18% 17 4 6 3 4


Ownership Change 3% 3% 21% 300% 20% N/A 33%

Q4 2.46 E 36.31 ‐3.29 5.15 E

BLOOMBERG BEST ESTIMATES ‐ EBITDA Q2 Q3 N/A 3.48 ‐1.82 ‐3.27 ‐1.64 ‐1.10 2.223 E 3.58 E

Dec 16 ‐0.01 ‐0.01 ‐80% ‐4% ‐13% 2

Q1 N/A ‐0.36 ‐1.53 0.83

Sep 16 ‐0.03 0.01 ‐237% 6% 153% 2

YEAR 2014 2015 2016 2017

Jun 16 ‐0.02 ‐0.01 ‐150% 7% ‐31% 2

Q4 6.80 2.39 2.08 10.97 E

Mar 16 ‐0.02 0.00 ‐127% ‐7% ‐46% 2

BLOOMBERG BEST ESTIMATES ‐ REVENUE Q2 Q3 N/A 7.11 2.66 0.83 1.84 2.11 7.035 E 7.84 E

Dec 15 ‐0.09 ‐0.01 ‐607% ‐7% ‐65% 2

Q1 N/A 4.02 2.19 4.61

Sep 15 ‐0.02 0.00 ‐449% ‐‐ ‐88% 1

Mkt Cap: $386.91 MM

YEAR 2014 2015 2016 2017




0

0 8/22/2014

2/22/2017

500

0.5

8/22/2016

SPX

3000

Mar 17 ‐17% N/A 18% 1.67 0.66

1000

2/22/2016

50D MAVG


1

11/22/2015

‐‐ ‐‐ ‐‐ ‐‐ ‐‐ ‐‐

2016 ‐0.07 0.00 ‐148% ‐4% ‐17% 8.21

1500

8/22/2015

200D MAVG

‐‐ ‐‐ ‐‐ ‐‐ ‐‐ ‐‐

2015 0.07 0.00 229% ‐7% ‐64% 9.89

1.5

5/22/2015

‐‐ ‐‐ ‐‐ ‐‐ ‐‐ ‐‐

2014 0.02 0.09 18% ‐‐ ‐‐ 27.55

2000

CLOSE PRICE

‐‐ ‐‐ ‐‐ ‐‐ ‐‐ ‐‐

2013 ‐‐ ‐‐ ‐‐ ‐‐ ‐‐ ‐‐

2

‐‐ ‐‐ ‐‐ ‐‐ ‐‐ ‐‐

2012 ‐‐ ‐‐ ‐‐ ‐‐ ‐‐ ‐‐

2500

11/22/2014

‐‐ ‐‐ ‐‐ ‐‐ ‐‐ ‐‐

2011 ‐‐ ‐‐ ‐‐ ‐‐ ‐‐ ‐‐ Corporate

2.5

3




Financial Details

Estimates

Annual

Float: 200.47 MM


Trading Data

Stock Price

Quarter

Leucrotta Exploration Inc. is an oil and natural gas exploration company. The Company operates in the Montney gas resource trend of northeast British Columbia, Canada.

Leucrotta Exploration Inc

Leucrotta Exploration Inc

SPX

83

Mar 17 ‐0.01 0.00 ‐19% ‐4% 111% 5


Ticker: LLEX


0

10

20

30

40

50

60

70

80


‐‐ ‐‐ ‐‐ ‐‐ ‐‐



Financial Details

‐23.65

2011 ‐12.10 ‐0.37 ‐223% ‐41% ‐14% 8.44

‐‐ ‐‐ ‐‐ ‐‐ ‐‐ ‐‐

‐‐

CLOSE PRICE

‐34.10

0K

2012 ‐21.10 ‐1.89 ‐520% ‐67% ‐14% 7.26

‐41.63

‐89.45

1K

2013 ‐5.30 ‐0.65 ‐209% ‐111% ‐34% 4.78

‐‐ ‐‐

‐‐ ‐‐ ‐‐

‐‐

‐53.45

‐93.35

3K

2015 ‐12.10 ‐1.40 ‐8171% ‐‐ ‐87% 0.40

200D MAVG

‐48.33

‐91.22

3K

2014 ‐12.30 ‐2.77 ‐906% ‐514% ‐34% 3.14

‐‐ ‐‐

‐‐

‐56.76

‐84.42

1K

2016 ‐3.73 ‐0.56 ‐956% ‐‐ 767% 3.44

50D MAVG

Corporate


Float: 50.42 MM

Mkt Cap: $231.93 MM

SPX


Sep 15 ‐7.20 ‐0.10 ‐31619% ‐‐ ‐92% 0

Q4 ‐2.70 ‐0.11 ‐1.00 0.027 E

BLOOMBERG BEST ESTIMATES ‐ EPS Q2 Q3 ‐1.60 ‐2.50 ‐1.70 ‐7.20 ‐4.99 ‐0.50 ‐0.053 E 0.01 E Q1 ‐7.90 ‐2.90 ‐1.20 ‐0.32 YEAR 2014 2015 2016 2017

1 2 3 4 5 6 7 8 9 10

Change 81% 203% ‐8%

13,032,727 7,029,243 4,064,074 3,552,253 2,848,334 1,564,969 1,433,946 1,283,542 1,254,442 1,239,052

Dec 16 31% 36% 11


Top 10 Holders (Shares Held) VARDE PARTNERS INC VERTEX ONE ASSET MANAGEMENT INC EMERSON J STEVEN ORMAND RONALD D ROSSEAU ASSET MGMT LTD EZRALOW BRYAN SOSV INVESTMENT GLASER JONATHAN M BLACKROCK GLASER NANCY E

Dec 16 6% 1% 7 4 2 0 0


Ownership Change ‐74% ‐96% ‐63% ‐33% 100% ‐100% ‐100%

Q4 ‐1.64 ‐0.87 ‐8.28 8.8 E

BLOOMBERG BEST ESTIMATES ‐ EBITDA Q2 Q3 ‐1.81 ‐2.32 ‐3.46 ‐20.18 ‐2.90 ‐4.10 2.3 E 7.033 E

Mar 17 ‐0.32 ‐0.19 ‐271% ‐‐ 7650% 3

Q1 ‐2.63 ‐7.73 ‐1.66 ‐7.17

Dec 16 ‐1.00 0.02 ‐866% ‐‐ 2549% 1

YEAR 2014 2015 2016 2017

Sep 16 ‐0.50 ‐0.28 ‐666% ‐‐ 1891% 1

Q4 0.37 0.04 1.18 16.633 E

Jun 16 ‐4.99 ‐0.25 ‐1118% ‐‐ 476% 1


Mar 16 ‐1.20 ‐0.27 ‐8178% ‐‐ ‐65% 0

Q1 0.83 0.12 0.04 3.23

Dec 15 ‐0.11 ‐0.29 ‐256% ‐‐ ‐88% 0

YEAR 2014 2015 2016 2017




0

500

1000

1500

2000

2500

3000

Mar 17 61% N/A 11% 0.73 3.50

Lilis Energy, Inc. is focused on the acquisition and development of undercapitalized and neglected oil and gas fields located onshore in the United States. The Company intends to focus on acquisitions in the states of Wyoming, Colorado, Kansas, Oklahoma and Texas.

Lilis Energy Inc

Lilis Energy Inc

Estimates

Annual

Trading Data

Stock Price


84 SPX


Ticker: LONE

Exchange: NASDAQ GM


Float: 21.82 MM

Mkt Cap: $82.93 MM

Annual

‐‐ ‐‐ ‐‐ ‐‐ ‐‐ ‐‐

2016 36.92 2.40 551% ‐‐ ‐51% 241.75

SPX

7/8/2017

3000

Mar 17 54% N/A 5% N/A N/A

500

0

5

0 7/8/2016

1 2 3 4 5 6 7 8 9 10

Change N/A N/A N/A

6,393,078 3,585,647 3,494,914 1,421,123 1,258,350 1,010,000 847,001 527,149 526,026 512,050

Dec 16 2% 0% 11


Top 10 Holders (Shares Held) EF REALISATION CO LTD CENTERBRIDGE PARTNERS AVENUE CAPITAL MANAGEMENT II LP MAN GROUP PLC PINE RIVER CAPITAL MGMT ARISTEIA CAPITAL LLC WADDELL & REED FINANCIAL INC BARCLAYS PLC SOUND POINT CAPITAL MANAGEMENT ARTISAN PARTNERS LTD PARTNERSHIP

Dec 16 44% 4% 16 0 0 15 0



Q4 N/A N/A ‐5.94 ‐0.127 E

BLOOMBERG BEST ESTIMATES ‐ EPS Q2 Q3 N/A N/A N/A N/A ‐0.85 ‐1.44 ‐0.148 E ‐0.16 E Q1 N/A N/A ‐0.75 0.14 YEAR 2014 2015 2016 2017

Mar 17 0.72 1.29 31% ‐‐ 16% 60

Q4 N/A N/A 7.22 22.58 E

Dec 16 42.76 0.21 2446% ‐‐ ‐38% 63

BLOOMBERG BEST ESTIMATES ‐ EBITDA Q2 Q3 N/A N/A N/A N/A 12.78 ‐15.72 12.26 E 19.06 E

Sep 16 ‐3.60 2.50 ‐60% ‐‐ ‐42% 64

Q1 N/A N/A 12.80 11.20

Jun 16 0.83 2.04 14% ‐‐ ‐54% 63

YEAR 2014 2015 2016 2017

Mar 16 ‐16.88 2.81 ‐345% ‐‐ ‐64% 52

Q4 N/A N/A 18.33 31.6 E

Dec 15 ‐48.34 ‐2.13 ‐502% ‐‐ ‐34% 102

BLOOMBERG BEST ESTIMATES ‐ REVENUE Q1 Q2 Q3 N/A N/A N/A N/A N/A N/A 21.31 24.22 21.80 18.02 18.767 E 26.7 E

Sep 15 ‐72.34 14.23 ‐444% ‐‐ ‐33% 111

YEAR 2014 2015 2016 2017




1000

10

4/8/2017

50D MAVG


1500

1/8/2017

200D MAVG

‐‐ ‐‐ ‐‐ ‐‐ ‐‐ ‐‐

2015 ‐232.74 27.62 ‐367% ‐‐ ‐23% 491.85

15

10/8/2016

‐‐ ‐‐ ‐‐ ‐‐ ‐‐ ‐‐

2014 1.01 5.29 19% ‐‐ 28% 636.66

2000

CLOSE PRICE

‐‐ ‐‐ ‐‐ ‐‐ ‐‐ ‐‐

2013 ‐5.47 3.45 ‐99% ‐‐ 104% 496.21

20

‐‐ ‐‐ ‐‐ ‐‐ ‐‐ ‐‐

2012 ‐2.61 2.29 3% ‐32% 23% 243.01

2500

‐‐ ‐‐ ‐‐ ‐‐ ‐‐ ‐‐

2011 ‐‐ ‐‐ 8% 3% 123% 197.54 Corporate

25

30




Estimates

Financial Details


Trading Data

Stock Price

Quarter

Lonestar Resources US Inc. operates as an oil and gas exploration company. The Company focuses on the acquisition, development, and production of unconventional oil, NGLs, and natural gas properties in the Eagle Ford Shale in Texas.

Lonestar Resources US Inc

Lonestar Resources US Inc

SPX

85

Domicile: Tulsa, OK

Ticker: MPO

Exchange: New York


200D MAVG

‐‐ ‐‐ ‐‐ ‐‐ ‐‐ ‐‐

2015 ‐232.74 27.62 ‐367% ‐‐ ‐23% 491.85

‐‐ ‐‐ ‐‐ ‐‐ ‐‐ ‐‐

2016 36.92 2.40 551% ‐‐ ‐51% 241.75

SPX

3000

Mar 17 8% N/A 8% N/A N/A

500

5

Float: 25.07 MM

Mkt Cap: $333.36 MM

1 2 3 4 5 6 7 8 9 10

Change N/A N/A N/A

6,393,078 3,585,647 3,494,914 1,421,123 1,258,350 1,010,000 847,001 527,149 526,026 512,050

Dec 16 2% 0% 11


Top 10 Holders (Shares Held) FIR TREE INCORPORATED CENTERBRIDGE PARTNERS AVENUE CAPITAL MANAGEMENT II LP MAN GROUP PLC PINE RIVER CAPITAL MGMT ARISTEIA CAPITAL LLC WADDELL & REED FINANCIAL INC BARCLAYS PLC SOUND POINT CAPITAL MANAGEMENT ARTISAN PARTNERS LTD PARTNERSHIP

Dec 16 61% 48% 5 0 0 5 0



Q4 1.21 ‐48.34 42.76 0.7 E

Q1 ‐1.31 ‐2.88 ‐16.88 0.72

BLOOMBERG BEST ESTIMATES ‐ EPS Q2 Q3 ‐0.10 0.69 ‐8.84 ‐72.34 0.83 ‐3.60 0.55 E 0.6 E

Mar 17 0.72 1.29 31% ‐‐ 16% 60

YEAR 2014 2015 2016 2017

Dec 16 42.76 0.21 2446% ‐‐ ‐38% 63

Q4 107.44 ‐397.03 22.62 32 E

Sep 16 ‐3.60 2.50 ‐60% ‐‐ ‐42% 64

BLOOMBERG BEST ESTIMATES ‐ EBITDA Q1 Q2 Q3 22.79 117.07 125.96 ‐76.44 ‐436.85 ‐408.14 ‐110.28 ‐34.12 2.81 34.80 27 E 29 E

Jun 16 0.83 2.04 14% ‐‐ ‐54% 63

YEAR 2014 2015 2016 2017

Mar 16 ‐16.88 2.81 ‐345% ‐‐ ‐64% 52

Q4 155.30 101.88 63.04 N/A

Dec 15 ‐48.34 ‐2.13 ‐502% ‐‐ ‐34% 102

BLOOMBERG BEST ESTIMATES ‐ REVENUE Q1 Q2 Q3 152.53 162.32 166.52 142.43 136.24 111.30 51.96 62.56 64.19 60.15 N/A N/A

Sep 15 ‐72.34 14.23 ‐444% ‐‐ ‐33% 111

YEAR 2014 2015 2016 2017




0

1000

10

0 10/28/2016

1500

4/28/2017

50D MAVG


15

1/28/2017

‐‐ ‐‐ ‐‐ ‐‐ ‐‐ ‐‐

2014 1.01 5.29 19% ‐‐ 28% 636.66

2000

CLOSE PRICE

‐‐ ‐‐ ‐‐ ‐‐ ‐‐ ‐‐

2013 ‐5.47 3.45 ‐99% ‐‐ 104% 496.21

20

‐‐ ‐‐ ‐‐ ‐‐ ‐‐ ‐‐

2012 ‐2.61 2.29 3% ‐32% 23% 243.01

2500

‐‐ ‐‐ ‐‐ ‐‐ ‐‐ ‐‐

2011 ‐‐ ‐‐ 8% 3% 123% 197.54

25

30





Midstates Petroleum Company, Inc. operates as an independent exploration and production company. The Company focuses on the application of modern drilling and completion techniques to oil‐prone resources. Midstates Petroleum serves customers in the United States.

Midstates Petroleum Company Inc

Midstates Petroleum Company Inc

Estimates

Annual

Trading Data

Stock Price


86 SPX

Domicile: Wayzata, MN

Ticker: NOG



Float: 63.33 MM

Mkt Cap: $72.83 MM

Annual

0

5

10

15

20

25


‐‐ ‐‐

‐‐



2.68

245.04

207K

2011 0.66 1.38 46% 8% 148% 146.32

‐‐ ‐‐

‐‐ ‐‐ ‐‐

‐‐

CLOSE PRICE

2.84

546.92

472K

2012 1.16 3.18 39% 12% 103% 296.43

2.80

27.28

831K

2013 0.85 3.57 24% 11% 20% 357.03

‐‐ ‐‐

‐‐ ‐‐ ‐‐

‐‐

1.17

‐83.90

478K

2015 ‐16.08 4.07 ‐428% ‐‐ ‐35% 275.06

200D MAVG

1.97

‐79.24

1,058K

2014 2.70 4.52 62% 8% 19% 423.75

‐‐ ‐‐

‐‐

0.43

‐83.65

770K

2016 ‐4.80 1.67 ‐133% ‐‐ ‐20% 221.25

50D MAVG

SPX


1 2 3 4 5 6 7 8 9 10

Change ‐60% ‐92% 0%

12,461,885 6,210,000 6,153,137 4,804,707 4,582,814 2,851,406 2,720,400 2,709,633 2,525,329 1,309,972

Dec 16 4% 3% 10


Top 10 Holders (Shares Held) ROWLING ROBERT B AKRADI BAHRAM BLACKROCK FINE CAPITAL PARTNERS LP ELLIOTT MANAGEMENT CORPORATION REGER MICHAEL L US BANCORP VANGUARD GROUP SCHRODERS PLC STATE STREET CORP

Dec 16 66% 99% 188 52 53 21 30


Ownership Change ‐30% ‐18% 0% ‐4% ‐18% 0% ‐3%

Q4 1.71 ‐2.84 ‐0.20 0.021 E

Q1 0.11 ‐3.79 ‐2.08 0.28


Mar 17 0.28 0.48 26% ‐‐ 22% 66

YEAR 2014 2015 2016 2017

Dec 16 ‐0.20 0.07 ‐38% ‐‐ ‐37% 36

Q4 82.00 ‐132.06 16.01 34.925 E

Sep 16 ‐0.74 0.64 ‐101% ‐‐ ‐55% 45

BLOOMBERG BEST ESTIMATES ‐ EBITDA Q1 Q2 Q3 64.52 80.68 79.57 ‐308.27 ‐212.60 ‐275.50 ‐69.56 ‐46.25 ‐15.78 46.07 30.24 E 32.85 E

Jun 16 ‐1.78 0.05 ‐174% ‐‐ ‐34% 63

YEAR 2014 2015 2016 2017

Mar 16 ‐2.08 0.91 ‐235% ‐‐ ‐41% 54

Q4 111.68 56.91 35.94 55.567 E

Dec 15 ‐2.84 1.24 ‐303% ‐‐ ‐49% 57


Sep 15 ‐5.33 0.99 ‐320% ‐‐ ‐10% 101

YEAR 2014 2015 2016 2017




0

500

1000

1500

2000

2500

3000

Mar 17 244% N/A 6% 1.95 ‐1.09

Estimates

Financial Details


Trading Data

Stock Price

Quarter

Corporate

Northern Oil and Gas, Inc. is a non‐operator franchise in the Bakken and Three Forks plays in the Williston Basin of North Dakota and Montana. Northern has targeted areas in the Williston Basin where activity levels are the highest and offers the highest rates of return on oil drilling projects.

Northern Oil and Gas Inc

Northern Oil and Gas Inc

SPX

87


Ticker: NVA CN

Exchange: Toronto

0

2

4

6

8

10

12

14


‐‐ ‐‐

‐‐



Financial Details

0.42

‐60.00

196K

2011 ‐1.47 1.64 ‐55% ‐17% 3% 326.04

‐‐ ‐‐

‐‐ ‐‐ ‐‐

CLOSE PRICE

0.08

‐31.98

473K

2012 ‐1.93 0.58 ‐119% ‐7% ‐34% 213.89

‐0.08

782K ‐0.96 ‐42.79

2013 ‐0.51 0.69 ‐40% ‐2% ‐10% 192.52

‐‐ ‐‐

‐‐ ‐‐ ‐0.54

368K ‐15.93 ‐22.33

2015 ‐1.16 0.75 ‐63% ‐13% 10% 261.72

200D MAVG

‐0.19

539K ‐3.48 ‐19.89

2014 ‐0.43 0.63 ‐30% ‐1% 23% 236.92

634K ‐11.82 18.23 48.71 ‐75.55 ‐0.57

2016 ‐0.01 0.80 ‐1% 4% 8% 281.72

50D MAVG

Corporate


Float: 173.23 MM


SPX


1 2 3 4 5 6 7 8 9 10

Change 2% ‐979% 0%

17,079,828 14,646,400 5,508,125 4,825,291 4,714,900 4,232,058 4,132,579 3,560,384 3,521,705 3,357,946

Dec 16 2% 4% 15


Top 10 Holders (Shares Held) FRANKLIN RESOURCES CAISSE DE DEPOT ET PLACEME IG INVESTMENT MANAGEMENT LTD BANK OF NOVA SCOTIA LEITH WHEELER INVESTMENT COUNSEL CANADIAN IMPERIAL BANK OF COMMER DIMENSIONAL FUND ADVISORS LP MD FINANCIAL MANAGEMENT INC ROYAL BANK OF CANADA VANGUARD GROUP

Dec 16 63% 64% 84 30 27 7 7


Change 3% 3% 22% 30% 50% ‐13% ‐42%

Q4 ‐0.31 ‐0.45 0.01 0.064 E

BLOOMBERG BEST ESTIMATES ‐ EPS Q2 Q3 ‐0.09 0.00 ‐0.14 ‐0.49 ‐0.05 0.01 0.041 E 0.026 E Q1 ‐0.03 ‐0.06 0.02 0.22 YEAR 2014 2015 2016 2017

Ownership

Mar 17 0.22 0.21 47% 6% 20% 82

Q4 67.60 65.42 75.90 109.067 E

Dec 16 0.01 0.31 1% 4% 16% 76

Q4 ‐33.38 26.60 42.83 52.9 E

Sep 16 0.01 0.14 1% ‐7% 7% 70


Jun 16 ‐0.05 0.17 ‐11% ‐11% 6% 68

Q1 31.44 30.42 32.46 48.02

Mar 16 0.02 0.17 4% ‐13% 1% 68

YEAR 2014 2015 2016 2017

Dec 15 ‐0.45 0.19 ‐106% ‐13% ‐3% 65


Sep 15 ‐0.49 0.15 ‐100% ‐4% 7% 65

YEAR 2014 2015 2016 2017




0

500

1000

1500

2000

2500

3000

Mar 17 8% N/A 22% 2.35 0.35

NuVista is an oil and natural gas company engated in the exploration for, and the development and production of, oil and natural gas reserves in the Western Canadian Sedimentary Basin. The company's primary focus is on the condensate‐ rich Montney formation in the Alberta Deep Basin (Wapiti Montney).

NuVista Energy Ltd

NuVista Energy Ltd

Estimates

Annual

Trading Data

Stock Price


88 SPX


Ticker: PONY CN

Exchange: Toronto


Float: 160.98 MM

Annual

0

2

4

6

8

10

12

14

16


‐‐ ‐‐

‐‐



0.31

73.85

34K

2011 0.11 0.75 20% 0% 29% 65.53

‐‐ ‐‐

‐‐ ‐‐ ‐‐

‐‐

CLOSE PRICE

0.57

767.77

182K

2012 ‐0.68 0.56 ‐90% ‐4% 4% 68.13

0.48

19.66

673K

2013 ‐0.06 0.56 ‐5% ‐1% 41% 96.30

‐‐ ‐‐

‐‐ ‐‐ ‐‐

‐‐

0.21

‐69.20

306K

2015 ‐0.05 0.35 ‐8% ‐2% ‐42% 86.41

200D MAVG

0.59

5.84

606K

2014 ‐0.17 0.99 ‐12% 2% 56% 150.20

‐‐ ‐‐

‐‐

0.37

‐12.19

446K

2016 ‐0.52 0.45 ‐50% 1% 61% 138.82

50D MAVG

SPX


Q4 ‐0.03 0.02 ‐0.28 0.14 E

BLOOMBERG BEST ESTIMATES ‐ EPS Q2 Q3 ‐0.21 0.09 ‐0.04 0.00 ‐0.34 0.12 0.044 E 0.077 E Q1 ‐0.02 ‐0.04 ‐0.02 0.57 YEAR 2014 2015 2016 2017

1 2 3 4 5 6 7 8 9 10

Change 8% ‐94% 0%

19,927,302 13,534,004 10,121,988 9,812,133 9,253,927 8,805,663 5,369,086 4,370,887 1,817,682 1,559,127

Dec 16 2% 1% 16


Top 10 Holders (Shares Held) ENCAP ENERGY CAPITAL FUND CONNOR CLARK & LUNN INV ARC ENERGY FUND 6 ARC ENERGY FUND 5 INVESCO LTD SAILINGSTONE CAPITAL PARTNERS LL SCHRODERS PLC DIMENSIONAL FUND ADVISORS LP BLACKROCK POWER CORP OF CANADA

Dec 16 49% 50% 68 14 17 8 7


Ownership Change ‐5% ‐5% 8% ‐26% 113% ‐33% ‐30%

Q4 0.38 1.73 37.05 69.35 E

BLOOMBERG BEST ESTIMATES ‐ EBITDA Q2 Q3 ‐10.59 21.56 9.21 6.24 9.23 18.24 33.733 E 47.1 E

Sep 16 0.12 0.10 50% ‐1% 59% 33

Q1 15.05 9.09 7.53 37.62

Jun 16 ‐0.34 0.07 ‐204% ‐2% ‐6% 22

YEAR 2014 2015 2016 2017

Mar 16 ‐0.02 0.07 ‐12% ‐2% ‐14% 22

Q4 29.79 16.72 62.14 126.5 E

Dec 15 0.02 0.04 22% ‐2% ‐44% 17


Sep 15 0.00 0.07 ‐1% ‐2% ‐45% 20

YEAR 2014 2015 2016 2017




0

500

1000

1500

2000

2500

3000

Mar 17 47% N/A 12% 2.17 ‐0.30

Estimates

Financial Details Dec 16 ‐0.28 0.19 ‐60% 1% 272% 62

Mkt Cap: $751.78 MM


Trading Data

Stock Price

Quarter

Corporate

Painted Pony Energy Ltd. explores and produces energy products. the company is primarily focused on the development of natural gas and natural gas liquids from the Montney formation in northeast British Columbia.

Painted Pony Energy Ltd

Painted Pony Energy Ltd

SPX

89

Mar 17 0.57 0.32 126% 2% 181% 61

Domicile: Oklahoma City, OK

Ticker: PHX

Exchange: New York

0

5

10

15

20

25

30

35

40




Financial Details

68K 11.06 14.86 76.39 ‐30.04 3.27

2011 0.51 1.74 25% 14% ‐3% 45.96

CLOSE PRICE

36K 12.96 7.13 77.81 ‐24.09 3.53

2012 0.44 1.52 22% 10% 5% 48.43

25K 11.08 32.40 72.89 ‐30.50 3.60

2013 0.84 2.24 34% 15% 27% 61.56

13K 4.91 13.92 59.38 ‐55.40 4.70

2015 0.56 2.76 20% 10% ‐16% 70.37

200D MAVG

21K 24.52 141.80 85.70 ‐13.92 4.86

2014 1.49 3.15 44% 73% 36% 83.52

33K 5.78 14.31 60.68 ‐51.25 4.64

2016 ‐0.61 0.88 ‐46% ‐3% ‐44% 39.06

50D MAVG

Corporate


Float: 16.67 MM

Mkt Cap: $364.21 MM

SPX


1 2 3 4 5 6 7 8 9 10

Change ‐10% ‐188% 0%

Change 7% 7% ‐1% ‐23% 48% ‐62% ‐35%

1,859,944 1,094,683 922,184 756,837 615,175 558,102 364,712 254,599 249,438 226,949

Dec 16 4% ‐9% 10


Top 10 Holders (Shares Held) TRIGRAN INVESTMENTS INC BLACKROCK T ROWE PRICE GROUP INC ROBOTTI ROBERT VANGUARD GROUP DIMENSIONAL FUND ADVISORS LP DISCIPLINED GROWTH INVESTORS LLC STATE STREET CORP BLANCHARD JR PAUL F STATE OF CALIFORNIA

Dec 16 54% 54% 122 40 31 5 11


Ownership

Q3 0.31 ‐0.04 ‐0.05 N/A

Q4 0.55 ‐0.05 0.05 N/A

Q1 0.30 0.61 ‐0.17 ‐0.13 YEAR 2014 2015 2016 2017

BLOOMBERG BEST ESTIMATES ‐ EPS Q2 0.34 0.04 ‐0.44 0.21

Q4 20.01 5.51 6.75 N/A

Dec 16 ‐0.13 0.22 ‐48% ‐5% ‐39% 7

BLOOMBERG BEST ESTIMATES ‐ EBITDA Q2 Q3 13.17 12.81 6.76 5.53 ‐5.62 4.56 8.67 N/A

Sep 16 0.05 0.09 9% ‐3% ‐24% 10

Q1 12.25 21.22 2.13 1.77

Jun 16 ‐0.05 0.15 ‐18% ‐3% ‐15% 10

YEAR 2014 2015 2016 2017

Mar 16 ‐0.44 0.21 ‐158% ‐3% ‐48% 8

Q4 27.56 13.31 10.16 N/A

Dec 15 ‐0.17 0.62 ‐45% 0% ‐63% 11

BLOOMBERG BEST ESTIMATES ‐ REVENUE Q1 Q2 Q3 18.17 19.54 18.24 30.80 14.59 11.66 11.45 7.59 9.86 7.04 13.96 N/A

Sep 15 ‐0.05 0.50 ‐6% 10% ‐52% 13

YEAR 2014 2015 2016 2017




0

500

1000

1500

2000

2500

3000

Mar 17 28% 0.04 13% 1.67 0.03

Mar 17 0.21 0.34 31% 0% 84% 14

Panhandle Oil & Gas, Inc. operates as a oil and gas exploration company. The Company explores for and develops oil and gas properties, and produces and sells oil and natural gas. Panhandle Oil & Gas serves customers in the United States.

Panhandle Oil and Gas Inc

Panhandle Oil and Gas Inc

Estimates

Annual

Trading Data

Stock Price


90 SPX


Ticker: PDCE

Exchange: NASDAQ GS


Float: 65.88 MM


Annual

0

10

20

30

40

50

60

70

80

90




224K 26.26 ‐40.62 58.34 ‐57.71 9.23

2011 0.57 7.09 1% 0% 11% 367.11

CLOSE PRICE

268K 26.55 37.97 57.27 ‐60.20 8.95

2012 ‐4.72 6.31 ‐10% 1% ‐8% 337.68

257K 27.55 192.26 64.60 ‐34.22 10.22

2013 ‐0.69 4.91 ‐8% 4% 27% 427.76

470K 8.11 52.04 62.27 ‐34.51 10.93

2015 ‐1.74 10.50 ‐17% 5% 16% 631.08

200D MAVG

499K ‐7.99 ‐2.32 58.18 ‐50.62 10.14

2014 4.34 6.61 33% 3% 27% 545.07

978K 25.14 118.55 67.67 ‐15.45 12.96

2016 ‐5.01 9.91 ‐55% 0% 14% 716.80

50D MAVG

SPX


1 2 3 4 5 6 7 8 9 10

Change ‐30% ‐91% 8%

7,431,171 6,890,772 5,001,093 3,385,502 3,287,928 2,880,832 2,750,907 2,011,192 1,970,012 1,650,820

Dec 16 1% ‐1% 14


Top 10 Holders (Shares Held) FMR LLC BLACKROCK VANGUARD GROUP DIMENSIONAL FUND ADVISORS LP CAUSEWAY CAPITAL MANAGEMENT LLC KIMMERIDGE ENERGY MANAGEMENT CO VICTORY CAPITAL MANAGEMENT INC VAN ECK ASSOCIATES CORPORATION STATE STREET CORP GOLDMAN SACHS GROUP INC

Dec 16 128% 129% 435 172 118 97 48


Change ‐3% ‐3% 19% 25% ‐2% 76% ‐8%

Q4 3.67 0.08 ‐0.94 0.096 E

BLOOMBERG BEST ESTIMATES ‐ EPS Q2 Q3 ‐0.79 1.51 ‐1.17 ‐1.04 ‐2.04 ‐0.48 ‐0.02 E 0.032 E Q1 ‐0.06 0.47 ‐1.72 0.70 YEAR 2014 2015 2016 2017

Ownership

Mar 17 0.70 2.12 37% 0% 32% 194

Q4 110.05 183.13 211.73 267.333 E

Dec 16 ‐0.94 2.13 ‐43% 0% 16% 212

Q4 ‐98.53 127.17 132.67 187.6 E

Sep 16 ‐0.48 3.34 ‐18% 1% 10% 192


Jun 16 ‐2.04 2.07 ‐93% 3% 15% 166

Q1 74.00 77.97 50.13 201.02

Mar 16 ‐1.72 2.43 ‐77% 4% 14% 147

YEAR 2014 2015 2016 2017

Dec 15 0.08 ‐0.84 3% 6% 66% 183


Sep 15 ‐1.04 3.41 ‐36% 3% 35% 176

YEAR 2014 2015 2016 2017




0

500

1000

1500

2000

2500

3000

Mar 17 23% N/A 8% 0.93 ‐0.08

Estimates

Financial Details


Trading Data

Stock Price

Quarter

Corporate

PDC Energy, Inc. produces and distributes petroleum products. The Company produces, develops, explores and markets crude oil, natural gas, and natural gas liquids. PDC Energy's focus continues to be on developing the Core Wattenberg Field in Colorado. The company also operates in the Delaware Basin and the condensate and wet gas windows of the Utica Shale play in Ohio.

PDC Energy Inc

PDC Energy Inc

SPX

91


Ticker: PVAC

Exchange: NASDAQ GS

0 11/18/2016

10

20

30

40

50

60

70


‐‐ ‐‐ ‐‐ ‐‐ ‐‐ ‐‐



Financial Details

2011 ‐2.90 3.16 ‐67% ‐4% 15% 329.82

‐‐ ‐‐ ‐‐ ‐‐ ‐‐ ‐‐

‐‐ ‐‐ ‐‐ ‐‐ ‐‐ ‐‐

2013 ‐2.41 4.20 ‐51% ‐4% 26% 430.69

2/18/2017

CLOSE PRICE

2012 ‐2.22 5.04 ‐51% ‐4% 4% 342.59

‐‐ ‐‐ ‐‐ ‐‐ ‐‐ ‐‐

‐‐ ‐‐ ‐‐ ‐‐ ‐‐ ‐‐

2015 ‐21.81 2.30 ‐395% ‐‐ ‐21% 402.13

200D MAVG

2014 ‐6.26 4.10 ‐106% ‐22% 18% 508.58

‐‐ ‐‐ ‐‐ ‐‐ ‐‐ ‐‐

2016 69.59 4.07 581% ‐‐ ‐55% 180.49

5/18/2017

50D MAVG

Corporate


Float: 14.99 MM

Mkt Cap: $573.74 MM

SPX


1 2 3 4 5 6 7 8 9 10

Change N/A N/A N/A

1,489,815 1,249,435 1,231,760 1,214,387 1,160,019 1,054,058 891,668 867,666 742,797 411,847

Dec 16 1% 69% 5


Top 10 Holders (Shares Held) STRATEGIC VALUE PARTNERS LLC EIG MANAGEMENT COMPANY LLC ANCHORAGE CAPITAL GROUP LLC MANGROVE PARTNERS KLS DIVERSIFIED MASTER CONTRARIAN CAPITAL MANAGEMENT PAR‐FOUR INVESTMENT MANAGEMENT WEXFORD CAPITAL LP SILVER POINT CAPITAL LP BLACKROCK

Dec 16 44% 41% 10 0 0 9 0



Q4 ‐5.90 ‐19.32 ‐0.12 0.96 E

BLOOMBERG BEST ESTIMATES ‐ EPS Q2 Q3 ‐1.59 1.13 ‐1.19 0.27 ‐0.73 11.00 0.557 E 0.76 E Q1 0.27 ‐0.88 ‐0.43 1.89 YEAR 2014 2015 2016 2017

Mar 17 1.89 0.63 80% ‐‐ ‐42% 35

Q4 ‐586.87 ‐1354.79 20.26 28.5 E

Dec 16 ‐0.12 1.81 ‐6% ‐‐ ‐58% 33

BLOOMBERG BEST ESTIMATES ‐ EBITDA Q2 Q3 ‐27.42 150.36 79.27 112.71 27.53 3.46 19.5 E 24.35 E

Sep 16 11.00 ‐0.11 3527% 169% ‐65% 33

Q1 140.81 70.41 31.86 21.74

Jun 16 ‐0.73 0.19 ‐118% ‐‐ ‐56% 53

YEAR 2014 2015 2016 2017

Mar 16 ‐0.43 0.33 ‐55% ‐‐ ‐45% 61

Q4 112.09 78.22 33.09 46.5 E

Dec 15 ‐19.32 0.09 ‐1888% ‐‐ ‐30% 78


Sep 15 0.27 0.88 27% ‐45% ‐30% 93

YEAR 2014 2015 2016 2017




0

500

1000

1500

2000

2500

3000

Mar 17 9% N/A 9% N/A N/A

Penn Virginia Corporation is an independent oil and gas company engaged in the exploration, development and production of oil, NGLs and natural gas in various domestic onshore regions of the United States, with a primary focus in the Eagle Ford Shale in South Texas.

Penn Virginia Corporation

Penn Virginia Corporation

Estimates

Annual

Trading Data

Stock Price


92 SPX

Domicile: Lafayette, LA

Ticker: PQ

Exchange: New York


Float: 21.22 MM

Mkt Cap: $44.78 MM

Annual

0

5

10

15

20

25

30

35




178K ‐9.56 ‐53.85 54.23 ‐78.39 5.85

2011 0.32 7.70 5% 12% ‐10% 160.70

CLOSE PRICE

303K ‐7.60 ‐26.78 50.54 ‐84.12 4.82

2012 ‐8.80 5.67 ‐92% 0% ‐12% 141.59

151K ‐0.24 ‐29.53 49.17 ‐87.01 3.76

2013 0.56 3.80 8% 12% 29% 182.80

85K ‐42.68 ‐92.42 41.36 ‐99.34 0.81

2015 ‐18.44 1.85 ‐252% ‐‐ ‐48% 115.97

200D MAVG

239K ‐8.44 ‐50.33 47.88 ‐89.04 2.71

2014 1.56 11.10 13% 22% 23% 225.02

95K ‐54.29 ‐83.28 42.21 ‐98.21 ‐0.57

2016 ‐5.24 ‐3.08 ‐136% ‐‐ ‐43% 66.67

50D MAVG

SPX


1 2 3 4 5 6 7 8 9 10

Change ‐26% ‐26% ‐9%

2,827,948 1,064,025 1,052,891 826,790 719,961 663,286 606,387 494,762 423,811 405,584

Dec 16 8% 1% 10


Top 10 Holders (Shares Held) NEW YORK LIFE GROUP OPPENHEIMER & CO INC DIVISAR CAPITAL MANAGEMENT LLC GOODSON CHARLES T KENNEDY CAPITAL MANAGEMENT FRANKLIN RESOURCES VANGUARD GROUP BLACKROCK CENTRAL SQUARE MANAGEMENT LLC PARKWOOD LLC

Dec 16 45% 49% 82 13 16 16 12



Q4 0.12 ‐3.92 ‐0.46 ‐0.1 E

BLOOMBERG BEST ESTIMATES ‐ EPS Q2 Q3 0.60 0.28 ‐3.76 ‐3.20 ‐1.38 ‐1.31 ‐0.192 E ‐0.157 E Q1 0.60 ‐7.56 ‐2.32 ‐0.23 YEAR 2014 2015 2016 2017

Mar 17 ‐0.23 0.63 ‐17% ‐‐ 20% 21

Q4 31.01 ‐41.97 4.71 17.025 E

Dec 16 ‐0.46 ‐0.23 ‐51% ‐‐ ‐29% 16

BLOOMBERG BEST ESTIMATES ‐ EBITDA Q2 Q3 39.75 34.72 ‐52.43 ‐29.32 ‐8.26 ‐8.24 11.48 E 14.325 E

Sep 16 ‐1.31 ‐1.45 ‐129% ‐‐ ‐36% 17

Q1 39.20 ‐93.52 ‐19.26 9.69

Jun 16 ‐1.38 0.01 ‐141% ‐‐ ‐51% 16

YEAR 2014 2015 2016 2017

Mar 16 ‐2.32 ‐1.54 ‐217% ‐‐ ‐48% 17

Q4 47.99 23.10 16.43 31.967 E

Dec 15 ‐3.92 0.37 ‐268% ‐‐ ‐52% 23


Sep 15 ‐3.20 1.13 ‐188% ‐‐ ‐52% 27

YEAR 2014 2015 2016 2017




0

500

1000

1500

2000

2500

3000

Mar 17 ‐1512% N/A 8% 1.97 ‐0.40

Estimates

Financial Details


Trading Data

Stock Price

Quarter

Corporate

PetroQuest Energy, Inc. is an independent energy company engaged in the exploration, development, acquisition and production of oil and natural gas reserves in the Arkoma Basin, East Texas, South Louisiana and the shallow waters of the Gulf of Mexico.

PetroQuest Energy Inc

PetroQuest Energy Inc

SPX

93

Domicile: Chatham, ON

Ticker: PSH CN

Exchange: Venture

0

0.5

1

1.5

2

2.5

3

3.5




Financial Details

2K ‐3.50 ‐41.18 46.37 ‐95.79 ‐1.46

2011 0.21 0.22 17% 15% ‐3% 0.86

CLOSE PRICE

1K ‐2.00 42.86 48.35 ‐76.27 ‐1.37

2012 ‐‐ ‐‐ ‐‐ ‐‐ ‐‐ ‐‐

2K ‐‐ ‐1.80 9.09 46.68 ‐88.37 ‐1.36

2013 ‐0.73 0.01 ‐759% ‐44% ‐‐ 2.78

11K ‐0.15 40.00 46.95 ‐82.35 ‐1.25

2015 ‐0.26 0.05 ‐50% ‐136% 148% 17.93

200D MAVG

‐0.24 93.85 48.09 ‐70.26 ‐1.28

2014 ‐0.16 ‐0.03 ‐70% ‐35% 160% 7.23

17K ‐0.94 ‐62.67 46.65 ‐84.14 ‐1.23

2016 ‐0.38 0.24 ‐70% ‐‐ 3% 18.48

50D MAVG

Corporate

SPX


0

500

1000

1500

2000

2500

3000

Mar 17 108% 12.00 4% N/A N/A

1 2 3 4 5 6 7 8 9 10

Change ‐3% ‐100% ‐25%

Change 893% 860% 200% N/A N/A N/A N/A

56,628,083 6,424,804 5,747,500 800,000 698,370 555,000 491,670 430,370 384,615 276,924

Dec 16 52% 0% 6


Top 10 Holders (Shares Held) CHERNOFF M BRUCE VERTEX ONE ASSET MANAGEMENT INC SLAWSON TODD FIRST ASSET INVESTMENT MANAGEMEN FAIR JAMES D ROYAL BANK OF CANADA ROORDA JACOB RAIN DAVID JAMES WOOD MIKE HERMAN BRETT

Dec 16 1% 2% 3 0 0 1 0


Ownership

Q3 ‐0.03 ‐0.09 ‐0.10 N/A

Q4 ‐0.09 ‐0.05 ‐0.09 N/A

Q1 ‐0.02 ‐0.07 ‐0.10 0.00 YEAR 2014 2015 2016 2017


Q4 0.89 3.28 3.37 N/A

BLOOMBERG BEST ESTIMATES ‐ EBITDA Q2 Q3 0.76 0.45 3.16 3.24 2.57 2.37 N/A N/A

Dec 16 ‐0.09 0.32 ‐50% ‐‐ 37% 6

Q1 0.10 0.86 0.89 8.00

Sep 16 ‐0.10 ‐0.02 ‐75% ‐‐ ‐23% 4

YEAR 2014 2015 2016 2017

Jun 16 ‐0.09 ‐0.06 ‐62% ‐‐ ‐11% 5

Q4 2.48 4.41 6.04 N/A

Mar 16 ‐0.10 0.00 ‐109% ‐‐ 37% 3


Dec 15 ‐0.05 0.03 ‐35% ‐136% 78% 4

Mkt Cap: $197.46 MM

YEAR 2014 2015 2016 2017

Sep 15 ‐0.09 0.02 ‐52% ‐100% 255% 6

Float: 150.16 MM





Petroshale Inc. explores and develops oil and gas properties located in Richland County, Montana and McKenzie County, North Dakota.

Petroshale Inc

Petroshale Inc

Estimates

Annual

Trading Data

Stock Price


94 SPX

Mar 17 0.00 0.10 1% ‐‐ 278% 12

Domicile: Centennial, CO

Ticker: PRHR

Exchange: OTC US


Float: 22.55 MM

Mkt Cap: $36.98 MM

Annual

0 11/27/2015

0.5

1

1.5

2

2.5

3

3.5

4


2/27/2016

‐‐ ‐‐ ‐‐ ‐‐ ‐‐ ‐‐



2011 ‐‐ ‐‐ ‐‐ ‐‐ ‐‐ ‐‐

‐‐ ‐‐ ‐‐ ‐‐ ‐‐ ‐‐

‐‐ ‐‐ ‐‐ ‐‐ ‐‐ ‐‐

5/27/2016

CLOSE PRICE

2012 ‐‐ ‐‐ ‐‐ ‐‐ ‐‐ ‐‐

2013 ‐0.04 0.08 ‐‐ ‐55% ‐‐ 0.00

‐‐ ‐‐ ‐‐ ‐‐ ‐‐ ‐‐

8/27/2016

200D MAVG

‐‐ ‐‐ ‐‐ ‐‐ ‐‐ ‐‐

2014 2015 ‐0.17 ‐0.09 ‐0.15 ‐0.08 ‐35741% ‐114712% ‐176% ‐93% ‐‐ ‐82% 0.01 0.00

‐‐ ‐‐ ‐‐ ‐‐ ‐‐ ‐‐

11/27/2016

2016 ‐0.21 ‐0.12 ‐1345% ‐249% 24984% 0.33

50D MAVG

Corporate 2/27/2017

SPX

0

500

1000

1500

2000

2500

3000

Mar 17 93% N/A 8% N/A N/A

1 2 3 4 5 6 7 8 9 10


Change ‐68% ‐78% 0% N/A N/A ‐100% N/A

3,000,000 2,750,000 1,725,000 1,577,050 1,260,000 154,999 100,000 25,000 25,000 13,200

Dec 16 12% 0% 7


Top 10 Holders (Shares Held) PROVIDENCE ENERGY OPER WITSELL FREDERICK J CONRAD BILL M FOLEY STEPHEN J CAMBRIAN CAPITAL LP CHANDLER SCOTT C LLOYD WILLIAM B SINCLAIR JAMES H HARRIS DOUGLAS R MOLONEY SECURITIES ASSET MGT LLC

Dec 16 2% 3% 1 0 0 0 0


Ownership

Q3 N/A ‐0.02 ‐0.05 N/A

Q4 N/A ‐0.04 ‐0.08 N/A

Q1 N/A ‐0.01 ‐0.03 ‐0.10 YEAR 2014 2015 2016 2017

BLOOMBERG BEST ESTIMATES ‐ EPS Q2 0.01 ‐0.01 ‐0.04 N/A

Q4 N/A ‐0.75 ‐1.48 N/A

BLOOMBERG BEST ESTIMATES ‐ EBITDA Q2 Q3 N/A N/A ‐0.23 ‐0.28 ‐0.88 ‐1.03 N/A N/A

Dec 16 ‐0.08 ‐0.10 ‐685% ‐249% ‐‐ 0

Q1 N/A ‐0.20 ‐0.70 ‐0.26

Sep 16 ‐0.05 0.01 ‐1322% ‐‐ ‐‐ 0

YEAR 2014 2015 2016 2017

Jun 16 ‐0.04 ‐0.04 ‐‐ ‐‐ ‐‐ 0

Q4 N/A 0.00 0.25 N/A

Mar 16 ‐0.03 0.01 ‐‐ ‐149% ‐‐ 0

BLOOMBERG BEST ESTIMATES ‐ REVENUE Q2 Q3 0.00 N/A 0.00 0.00 0.00 0.09 N/A N/A

Dec 15 ‐0.04 ‐0.04 ‐‐ ‐‐ ‐‐ 0

Q1 N/A 0.00 0.00 1.46

Sep 15 ‐0.02 ‐0.01 ‐‐ ‐‐ ‐‐ 0

YEAR 2014 2015 2016 2017




5/27/2017


Estimates

Financial Details


Trading Data

Stock Price

Quarter

PetroShare Corporation is a public, domestic energy company based in Denver, Colorado formed to investigate, acquire and develop unconventional oil and gas properties in the Rocky Mountain and mid‐continent areas of the United States.

PetroShare Corporation

PetroShare Corporation

SPX

95

Mar 17 ‐0.10 ‐0.06 ‐146% ‐126% ‐‐ 1


Ticker: PRQ CN

Exchange: Toronto


‐‐ ‐‐ ‐‐ ‐‐ ‐‐ ‐‐

2016 ‐1.48 ‐‐ ‐‐ ‐‐ ‐35% 64.84

Float: 49.43 MM

Mkt Cap: $109.24 MM

1 2 3 4 5 6 7 8 9 10

Change N/A N/A N/A

12,040,340 6,020,302 1,617,266 800,000 209,001 195,700 159,068 126,580 94,936 94,575

Dec 16 10% 30% 6


Top 10 Holders (Shares Held) WINGREN BV GRAY DONALD T INVESCO LTD POWER CORP OF CANADA ADAIR KEVIN LLOYD ARNELL PATRICK STEPHENSON CHEREE VERBURG PETER WHITE STEPHEN KORCHINSKI NEIL

Dec 16 5% 6% 6 0 0 2 1



Q4 N/A N/A ‐0.26 ‐0.07 E

BLOOMBERG BEST ESTIMATES ‐ EPS Q2 Q3 N/A N/A N/A N/A ‐1.02 ‐0.10 ‐0.03 E ‐0.02 E Q1 N/A N/A ‐0.10 0.16 YEAR 2014 2015 2016 2017

Mar 17 0.16 ‐‐ ‐‐ ‐‐ 20% 22

Q4 N/A N/A 10.7 E 18.2 E

Dec 16 ‐0.26 ‐‐ ‐‐ ‐‐ ‐‐ 21

BLOOMBERG BEST ESTIMATES ‐ EBITDA Q2 Q3 N/A N/A N/A N/A ‐15.04 8.27 13.8 E 15.4 E

Sep 16 ‐0.10 0.14 ‐32% ‐‐ ‐‐ 15

Q1 N/A N/A 7.28 12.65 E

Jun 16 ‐1.02 0.14 ‐251% ‐‐ ‐‐ 18

YEAR 2014 2015 2016 2017

Mar 16 ‐0.10 0.24 ‐22% ‐‐ ‐‐ 19

Q4 N/A N/A 21.41 26.767 E

Dec 15 ‐1.04 ‐‐ ‐‐ ‐‐ ‐‐ ‐‐

BLOOMBERG BEST ESTIMATES ‐ REVENUE Q1 Q2 Q3 N/A N/A N/A N/A N/A N/A 18.52 18.47 14.51 22.27 23.55 E 26.7 E

Sep 15 ‐‐ ‐‐ ‐‐ ‐‐ ‐‐ ‐‐

YEAR 2014 2015 2016 2017




0

500

1

0 2/12/2016

1000

5/12/2017

SPX

3000

Mar 17 49% N/A 6% N/A N/A

2

2/12/2017

50D MAVG


1500

11/12/2016

200D MAVG

‐‐ ‐‐ ‐‐ ‐‐ ‐‐ ‐‐

2015 ‐1.96 0.44 ‐88% ‐‐ ‐‐ 99.19

3

8/12/2016

‐‐ ‐‐ ‐‐ ‐‐ ‐‐ ‐‐

2014 ‐‐ ‐‐ ‐‐ ‐‐ ‐‐ ‐‐

2000

CLOSE PRICE

‐‐ ‐‐ ‐‐ ‐‐ ‐‐ ‐‐

2013 ‐‐ ‐‐ ‐‐ ‐‐ ‐‐ ‐‐

4

‐‐ ‐‐ ‐‐ ‐‐ ‐‐ ‐‐

2012 ‐‐ ‐‐ ‐‐ ‐‐ ‐‐ ‐‐

2500

5/12/2016

‐‐ ‐‐ ‐‐ ‐‐ ‐‐ ‐‐

2011 ‐‐ ‐‐ ‐‐ ‐‐ ‐‐ ‐‐

5

6





Petrus Resources Ltd. is an energy company. The Company offers property exploitation, strategic acquisitions, and risk‐managed exploration services. The Company's three core operating areas are Fererier, Central Alberta, and the Rocky Mountain foothils.

Petrus Resources Ltd

Petrus Resources Ltd

Estimates

Annual

Trading Data

Stock Price


96 SPX


Ticker: QEP

Exchange: New York


Float: 240.56 MM


Annual

0

5

10

15

20

25

30

35

40


‐‐ ‐‐ ‐‐ ‐‐

2011 1.51 7.32 13% 10% 37% 3159.20

‐0.56

#DIV/0!



‐‐ ‐‐ ‐‐ ‐‐

‐‐ ‐‐ ‐‐ ‐‐ ‐1.15

1,178K

2013 0.89 6.65 4% 3% 4% 2832.70

CLOSE PRICE

‐0.91

#DIV/0!

2012 0.72 7.29 7% 7% ‐14% 2728.50

‐‐ ‐‐

‐‐ ‐‐ ‐‐

‐‐

‐3.46

‐54.27

1,650K

2015 ‐0.85 2.73 ‐10% 0% ‐24% 2479.50

200D MAVG

‐2.16

‐44.31

2,129K

2014 4.36 8.58 ‐20% 5% 16% 3282.10

‐‐ ‐‐

‐‐

‐4.05

‐39.18

2,234K

2016 ‐5.62 2.99 ‐129% ‐6% ‐39% 1511.10

50D MAVG

SPX


1 2 3 4 5 6 7 8 9 10

Change ‐14% ‐68% ‐24%

22,993,414 19,952,610 19,855,767 13,088,348 9,505,401 9,255,582 7,646,319 6,710,600 6,306,106 6,192,100

Dec 16 1% 0% 13


Top 10 Holders (Shares Held) WELLINGTON MANAGEMENT GROUP LLP BLACKROCK VANGUARD GROUP BOSTON PARTNERS INVESCO LTD STATE STREET CORP ALLIANCE BERNSTEIN CAYMUS CAPITAL PARTNERS LP MILLENNIUM MANAGEMENT LLC D E SHAW & COMPANY LP

Dec 16 98% 99% 497 186 146 61 86


Ownership Change ‐4% ‐4% 4% 25% 0% ‐9% ‐36%

Q4 3.72 ‐0.22 ‐0.56 ‐0.163 E

Q1 0.22 ‐0.32 ‐4.55 0.32

BLOOMBERG BEST ESTIMATES ‐ EPS Q2 Q3 ‐0.51 0.95 ‐0.43 0.12 ‐0.351 E ‐0.21 0.19 ‐0.203 E

Jun 17 0.19 0.61 19% ‐4% 17% 390

YEAR 2014 2015 2016 2017

Mar 17 0.32 0.62 30% ‐‐ 24% 404

Q4 ‐714.50 231.60 167.20 230.833 E

Dec 16 ‐0.56 0.55 ‐50% ‐‐ ‐35% 400

BLOOMBERG BEST ESTIMATES ‐ EBITDA Q1 Q2 Q3 345.30 178.50 375.90 171.20 291.40 270.20 ‐1074.60 612.20 143.80 170.20 197.00 210.167 E

Sep 16 ‐0.21 1.31 ‐20% ‐‐ ‐36% 402

YEAR 2014 2015 2016 2017

Jun 16 ‐‐ ‐‐ ‐‐ ‐‐ ‐52% 334

Q4 825.10 612.70 400.20 474.364 E

Mar 16 ‐4.55 0.43 ‐418% ‐2% ‐43% 326


Dec 15 ‐0.22 1.17 ‐12% 0% ‐26% 613

YEAR 2014 2015 2016 2017




0

500

1000

1500

2000

2500

3000

Jun 17 31% N/A 8% 1.49 ‐0.48

Estimates

Financial Details


Trading Data

Stock Price

Quarter

Corporate

QEP Resources Inc. is an independent natural gas and oil exploration and production company. The Company's operations arefocused in two regions of the United States: the Northern Region (primarily in North Dakota, Wyoming and Utah) and the Southern Region (primarily in Texas and Louisiana).

QEP Resources Inc

QEP Resources Inc

SPX

97


Ticker: RRX CN

Exchange: Toronto

0

2

4

6

8

10

12

14


‐‐ ‐‐ ‐‐ ‐‐ ‐‐



Financial Details

0.00

2011 ‐‐ ‐‐ ‐‐ ‐‐ ‐‐ ‐‐

‐‐ ‐‐ ‐‐ ‐‐ ‐‐

‐‐ ‐‐ ‐‐ ‐‐ ‐‐

CLOSE PRICE

0.28

2012 0.10 ‐‐ ‐‐ ‐‐ ‐‐ 45.77

0.55

2013 0.27 0.83 39% ‐‐ 238% 154.61

‐‐ ‐‐ ‐‐ ‐‐ ‐‐ ‐‐ ‐‐

‐‐

‐‐ 227.95 ‐‐ ‐‐ ‐‐ 1.22 ‐‐

1,015K

2015 0.15 0.70 18% 5% ‐24% 234.59

200D MAVG

0.83

2014 0.62 1.29 49% 24% 99% 306.93

1,571K

2016 0.10 0.77 12% 3% 14% 268.40

50D MAVG

Corporate


SPX


1 2 3 4 5 6 7 8 9 10

Change ‐18% ‐291% 0%

23,320,119 22,085,321 10,111,104 7,461,247 5,991,907 5,989,243 4,429,370 4,034,710 3,790,300 3,256,044

Dec 16 9% ‐2% 13


Top 10 Holders (Shares Held) CONNOR CLARK & LUNN INV FMR LLC POWER CORP OF CANADA ROSZELL NEIL J ROBERTSON BRUCE A MAWER INVESTMENT MANAGEMENT VANGUARD GROUP ROYAL BANK OF CANADA BRITISH COLUMBIA INVESTMENT MGT WILLIAM BLAIR

Dec 16 57% 63% 130 49 49 20 11


Ownership Change 17% 13% 34% 53% 44% 67% 0%

Q4 0.14 0.03 0.08 0.108 E

BLOOMBERG BEST ESTIMATES ‐ EPS Q2 Q3 0.17 0.17 0.06 0.05 0.02 0.03 0.076 E 0.088 E Q1 0.14 0.00 ‐0.04 0.07 YEAR 2014 2015 2016 2017

Mar 17 0.07 0.34 21% 5% 122% 102

Q4 60.39 39.48 66.10 85.05 E

Dec 16 0.08 0.26 28% 3% 54% 89


Sep 16 0.03 0.21 12% 1% 23% 73

Q1 55.25 29.08 24.34 67.93

Jun 16 0.02 0.16 13% 2% ‐9% 61

YEAR 2014 2015 2016 2017

Mar 16 ‐0.04 0.13 ‐22% 3% ‐11% 46

Q4 77.11 57.74 88.90 129.667 E

Dec 15 0.03 0.19 15% 5% ‐25% 58

BLOOMBERG BEST ESTIMATES ‐ REVENUE Q1 Q2 Q3 71.77 78.08 79.97 51.12 66.80 58.94 45.68 61.08 72.75 101.61 107.667 E 117 E

Sep 15 0.05 0.25 25% 9% ‐26% 59


YEAR 2014 2015 2016 2017



Float: 231.17 MM


0

500

1000

1500

2000

2500

3000

Mar 17 16% N/A 13% 1.26 ‐0.01

Raging River Exploration Inc. is an oil and gas exploration company. The Company is focused on unconventional Viking light oil play of the Dodsland area in western Saskatchewan.

Raging River Exploration Inc

Raging River Exploration Inc

Estimates

Annual

Trading Data

Stock Price


98 SPX


Ticker: RRC

Exchange: New York


Float: 247.59 MM


Annual

1,612K ‐3.76 ‐60.27 39.30 ‐76.36 2.65

2015 ‐4.29 4.16 ‐61% 2% ‐14% 1713.83

1,528K 2.59 ‐45.31 42.59 ‐66.30 1.66

2016 ‐2.75 2.04 ‐47% ‐1% 0% 1708.67

50D MAVG

SPX


3000

Mar 17 41% 0.02 8% 1.13 ‐0.56

1000

500

0

40

20

0

1 2 3 4 5 6 7 8 9 10

Change ‐27% ‐102% 10%

22,226,493 19,667,325 13,879,445 13,133,750 12,051,572 8,913,227 7,684,081 5,722,500 5,153,307 4,894,589

Dec 16 2% 0% 22


Top 10 Holders (Shares Held) VANGUARD GROUP SAILINGSTONE CAPITAL PARTNERS LL SANDERS CAPITAL LLC BLACKROCK STATE STREET CORP CAPITAL GROUP COMPANIES INC MILLENNIUM MANAGEMENT LLC STELLIAM INVESTMENT MANAGMENT LP CITADEL ADVISORS LLC INVESCO LTD

Dec 16 98% 100% 772 303 144 143 86


Ownership Change ‐17% ‐17% 12% 17% ‐31% 113% ‐35%

Q4 1.68 ‐1.93 ‐0.66 0.211 E

BLOOMBERG BEST ESTIMATES ‐ EPS Q2 Q3 1.04 0.87 ‐0.71 ‐1.81 ‐1.35 ‐0.23 0.081 E 0.114 E Q1 0.20 0.16 ‐0.56 0.69 YEAR 2014 2015 2016 2017

Mar 17 0.69 0.92 47% 1% 71% 607

Q4 638.57 ‐184.18 276.86 326.5 E

Dec 16 ‐0.66 0.76 ‐43% ‐1% 29% 590

BLOOMBERG BEST ESTIMATES ‐ EBITDA Q2 Q3 586.30 358.28 174.82 221.82 66.60 110.34 250 E 271.571 E

Sep 16 ‐0.23 0.18 ‐14% ‐2% ‐3% 402

Q1 278.96 211.20 65.59 479.43

Jun 16 ‐1.35 0.49 ‐98% ‐1% ‐10% 363

YEAR 2014 2015 2016 2017

Mar 16 ‐0.56 0.54 ‐38% 0% ‐19% 354

Q4 527.26 455.89 590.26 687.8 E

Dec 15 ‐1.93 1.06 ‐107% 2% ‐14% 456


Sep 15 ‐1.81 0.87 ‐105% 3% ‐25% 416

YEAR 2014 2015 2016 2017




1500

60

2000

200D MAVG

3,477K 39.02 18.83 46.64 ‐45.22 4.87

2014 3.81 5.83 52% 8% 11% 1999.90

80

2,689K 77.74 69.13 57.27 ‐1.40 4.69

2013 0.71 4.63 8% 8% 28% 1801.00

CLOSE PRICE

2,509K 58.86 82.70 49.89 ‐18.89 1.26

2012 0.08 4.06 2% 5% 16% 1405.84

2500

3,119K 57.19 20.60 49.56 ‐20.06 ‐0.96

2011 0.36 4.00 6% 5% 27% 1210.44 Corporate

100

120




Estimates

Financial Details


Trading Data

Stock Price

Quarter

Range Resources Corporation is an independent oil and gas company that explores, develops, and acquires oil and gas properties. The Company conducts operations primarily in the Southwestern, Appalachian, and Gulf Coast regions of the United States.

Range Resources Corporation

Range Resources Corporation

SPX

99


Ticker: RZE CN

Exchange: Venture

0 3/14/2014

0.5

1

1.5

2

2.5

3

3.5

4

4.5

6/14/2014


9/14/2014

‐‐ ‐‐ ‐‐ ‐‐ ‐‐ ‐‐



Financial Details

‐‐ ‐‐ ‐‐ ‐‐ ‐‐ ‐‐

12/14/2014

2011 ‐3.20 ‐5.35 ‐‐ ‐86% ‐‐ 0.00

‐‐ ‐‐ ‐‐ ‐‐ ‐‐ ‐‐

3/14/2015

2013 0.40 0.25 ‐‐ ‐‐ ‐‐ 0.00

6/14/2015

CLOSE PRICE

2012 ‐1.60 ‐0.83 ‐‐ ‐‐ ‐‐ 0.00

‐‐ ‐‐ ‐‐ ‐‐ ‐‐ ‐‐

‐‐ ‐‐ ‐‐ ‐‐ ‐‐ ‐‐

2015 ‐0.52 ‐0.70 ‐‐ ‐126% ‐‐ 0.00

9/14/2015

‐‐ ‐‐ ‐‐ ‐‐ ‐‐ ‐‐

12/14/2015

200D MAVG

2014 ‐0.40 ‐0.28 ‐‐ ‐43% ‐‐ 0.00

3/14/2016

2016 ‐‐ ‐‐ ‐‐ ‐‐ ‐‐ ‐‐

6/14/2016

50D MAVG

12/14/2016

SPX


Float: 15.94 MM

6/14/2017

0

500

1000

1500

2000

2500

3000

Mar 17 ‐245% N/A 8% N/A N/A

Mkt Cap: $27.89 MM

1 2 3 4 5 6 7 8 9 10

Change 27% N/A 0%


2,157,128 1,039,594 825,272 392,039 374,039 291,667 183,686 135,440 127,107 107,107

Dec 16 19% 0% 4


Top 10 Holders (Shares Held) ALBERTA INVESTMENT MGMT CORP BAILEY DOUGLAS GEORGE MULLER FRANK PETER MOTTAHED SONNY SAXON VICK VERTEX ONE ASSET MANAGEMENT INC SMITH STAN SUNDSTROM DEVIN KENT SYCH STEVEN BRAUN KEVIN EDWARD

Dec 16 0% 0% 0 0 0 0 0


Ownership

Q3 0.00 0.00 0.00 N/A

Q4 0.40 ‐0.34 ‐0.06 N/A

Q1 0.00 0.20 ‐0.40 ‐0.18 YEAR 2014 2015 2016 2017

BLOOMBERG BEST ESTIMATES ‐ EPS Q2 0.00 0.00 0.00 N/A

Q4 N/A ‐0.07 ‐0.01 N/A

BLOOMBERG BEST ESTIMATES ‐ EBITDA Q2 Q3 0.00 ‐0.01 N/A 0.00 N/A N/A N/A N/A

Dec 16 ‐0.06 ‐0.25 ‐‐ ‐126% ‐‐ 0

Q1 0.00 N/A ‐0.06 ‐0.08

Sep 16 0.00 ‐0.02 ‐‐ ‐130% ‐‐ 0

YEAR 2014 2015 2016 2017

Jun 16 0.00 ‐0.14 ‐‐ ‐122% ‐‐ 0

Q4 0.00 0.00 0.00 N/A

Mar 16 ‐0.40 ‐0.29 ‐‐ ‐104% ‐‐ 0


Dec 15 ‐0.34 ‐0.23 ‐‐ ‐43% ‐‐ 0

Q1 0.00 0.00 0.00 7.09

Sep 15 0.00 ‐0.07 ‐‐ 63% ‐‐ 0

YEAR 2014 2015 2016 2017




3/14/2017


9/14/2016

Corporate

Razor Energy Corporation operates as an oil and gas company. The Company focuses on acquiring, producing, and exploration of oil and gas properties. Razor Energy is primarily focused on light oil production in Alberta, Canada

Razor Energy Corporation

Razor Energy Corporation

Estimates

Annual

Trading Data

Stock Price


100 SPX

Mar 17 ‐0.18 ‐0.32 ‐26% ‐169% ‐‐ 7


Ticker: REN

Exchange: New York


Float: 22.45 MM

Mkt Cap: $776.52 MM

Annual

0

10

20

30

40

50

60

70


‐‐ ‐‐

‐‐



2.89

17.52

86K

2011 2.65 8.77 23% 4% 25% 206.11

‐‐ ‐‐

‐‐ ‐‐ ‐‐

‐‐

CLOSE PRICE

1.77

‐11.15

50K

2012 1.50 6.46 13% 0% 14% 235.35

1.22

‐21.61

182K

2013 ‐8.35 9.77 ‐57% ‐1% 33% 313.97

‐‐ ‐‐

‐‐ ‐‐ ‐‐

‐‐

‐5.20

‐91.94

47K

2015 ‐49.55 4.64 ‐309% ‐‐ ‐24% 247.79

200D MAVG

‐2.29

‐91.06

108K

2014 ‐1.50 9.72 ‐8% ‐4% 3% 324.38

‐‐ ‐‐

‐‐

‐4.48

1.33

113K

2016 ‐10.33 5.31 ‐64% ‐‐ 2% 252.49

50D MAVG

SPX


1 2 3 4 5 6 7 8 9 10

Change ‐34% ‐100% ‐15%

3,097,194 1,664,808 1,327,115 1,227,245 1,075,350 1,022,623 1,007,822 864,523 700,156 694,115

Dec 16 5% 0% 11


Top 10 Holders (Shares Held) WELLINGTON MANAGEMENT GROUP LLP GOFF JOHN C FRANKLIN RESOURCES MILLENNIUM MANAGEMENT LLC MAPLE ROCK CAPITAL PARTNERS INC VANGUARD GROUP STATE STREET CORP ENCAP ENERGY CAPITAL FIR TREE INCORPORATED ENCOMPASS CAPITAL ADVISORS LLC

Dec 16 53% 62% 87 15 17 44 11



Q4 ‐1.15 ‐6.08 ‐1.23 0.653 E

Q1 ‐0.25 ‐14.00 ‐5.65 0.00

BLOOMBERG BEST ESTIMATES ‐ EPS Q2 Q3 ‐1.10 1.00 ‐17.30 ‐12.20 ‐2.44 ‐1.24 0.253 E 0.378 E

Mar 17 0.00 1.81 2% ‐‐ 39% 65

YEAR 2014 2015 2016 2017

Dec 16 ‐1.23 1.41 ‐25% ‐‐ 47% 81

Q4 ‐85.68 ‐53.10 33.75 61.513 E

Sep 16 ‐1.24 2.32 ‐27% ‐‐ 13% 69

BLOOMBERG BEST ESTIMATES ‐ EBITDA Q1 Q2 Q3 38.23 31.25 30.69 ‐188.23 ‐177.31 ‐170.58 ‐37.98 27.03 24.16 24.18 41.967 E 50.975 E

Jun 16 ‐2.44 0.46 ‐66% ‐‐ ‐16% 56

YEAR 2014 2015 2016 2017

Mar 16 ‐5.65 1.10 ‐182% ‐‐ ‐28% 47

Q4 78.01 55.08 81.03 107.5 E

Dec 15 ‐6.08 ‐0.12 ‐167% ‐‐ ‐29% 55


Sep 15 ‐12.20 2.07 ‐300% ‐‐ ‐23% 61

YEAR 2014 2015 2016 2017




0

500

1000

1500

2000

2500

3000

Mar 17 124% N/A 12% 1.93 3.28

Estimates

Financial Details


Trading Data

Stock Price

Quarter

Corporate

Resolute Energy is engaged in the acquisition, development and production of onshore domestic hydrocarbons, principally crude oil. Resolute’s producing assets are Aneth Field in the Paradox Basin of Utah and Hilight Field in the Powder River Basin of Wyoming, and in the Permian Basin of West Texas.

Resolute Energy Corporation

Resolute Energy Corporation

SPX

101


Ticker: ROSE

Exchange: NASDAQ CM

0 4/1/2016

2

4

6

8

10

12

14


7/1/2016



Financial Details

‐‐ ‐‐ ‐‐ ‐‐ ‐‐ ‐‐

2011 ‐‐ ‐‐ ‐‐ ‐‐ ‐‐ ‐‐

CLOSE PRICE

‐‐ ‐‐ ‐‐ ‐‐ ‐‐ ‐‐

2012 ‐‐ ‐‐ ‐‐ ‐‐ ‐‐ ‐‐

10/1/2016

‐‐ ‐‐ ‐‐ ‐‐ ‐‐ ‐‐

2013 ‐‐ ‐‐ ‐‐ ‐‐ ‐‐ ‐‐

‐‐ ‐‐ ‐‐ ‐‐ ‐‐ ‐‐

2015 ‐‐ ‐‐ ‐‐ ‐‐ ‐‐ ‐‐

200D MAVG

‐‐ ‐‐ ‐‐ ‐‐ ‐‐ ‐‐

2014 ‐‐ ‐‐ ‐‐ ‐‐ ‐‐ ‐‐

1/1/2017

‐‐ ‐‐ ‐‐ ‐‐ ‐‐ ‐‐

2016 ‐‐ ‐‐ ‐‐ ‐‐ ‐‐ ‐‐

50D MAVG

SPX


4/1/2017

Corporate


Float: 5.86 MM

Mkt Cap: $281.75 MM

0

1 2 3 4 5 6 7 8 9 10

Change N/A N/A N/A


2,789,523 818,000 814,000 512,947 487,115 426,600 413,002 399,000 393,490 353,000

Dec 16 0% 0% 0


Top 10 Holders (Shares Held) KOVALIK EDWARD POLAR ASSET MANAGEMENT PARTNERS WEISS ASSET MANAGEMENT LP EARLYBIRDCAPITAL INC K2 PRINCIPAL FUND LP D E SHAW & COMPANY LP ANCHORAGE CAPITAL GROUP LLC WESTCHESTER CAPITAL MANAGEMENT L CASTLE CREEK ARBITRAGE LLC PERISCOPE CAPITAL INC

Dec 16 66% 66% 17 3 2 6 0


Ownership

Q3 N/A N/A N/A N/A

Q4 N/A N/A N/A N/A

Q1 N/A N/A N/A N/A YEAR 2014 2015 2016 2017


Q4 N/A N/A N/A N/A

BLOOMBERG BEST ESTIMATES ‐ EBITDA Q2 Q3 N/A N/A N/A N/A N/A N/A N/A N/A

Dec 16 ‐‐ ‐‐ ‐‐ ‐‐ ‐‐ ‐‐

Q1 N/A N/A N/A N/A

Sep 16 ‐‐ ‐‐ ‐‐ ‐‐ ‐‐ ‐‐

YEAR 2014 2015 2016 2017

Jun 16 ‐‐ ‐‐ ‐‐ ‐‐ ‐‐ ‐‐

Q4 N/A N/A 0.00 N/A

Mar 16 ‐‐ ‐‐ ‐‐ ‐‐ ‐‐ ‐‐

BLOOMBERG BEST ESTIMATES ‐ REVENUE Q2 Q3 N/A N/A N/A N/A 0.00 0.00 N/A N/A

Dec 15 ‐‐ ‐‐ ‐‐ ‐‐ ‐‐ ‐‐

Q1 N/A N/A 0.00 0.00

Sep 15 ‐‐ ‐‐ ‐‐ ‐‐ ‐‐ ‐‐

YEAR 2014 2015 2016 2017




7/1/2017

500

1000

1500

2000

2500

3000

Mar 17 7639% N/A 9% N/A N/A

Mar 17 ‐‐ ‐‐ ‐‐ ‐‐ ‐‐ ‐‐

Rosehill Resources is an independent oil and natural gas company focused on growing production and reserves in the core of the Delaware Basin, through drilling and bolt‐on acquisitions. Rosehill Resources was formed in 2017 through the combination of Tema Oil and Gas Company and KLR Energy Acquisition Corp. Tema Oil and Gas Company was a wholly owned subsidiary of Rosemore, Inc. The Company has nearly 5,000 net acres with approximately 80% held by production and drilling locations across ten distinct benches. Rosehill was formed in 2017 through the combination of Tema Oil and Gas Company and KLR Energy. Rosehill is headquartered in Houston, Texas.

Rosehill Resources Inc

Rosehill Resources Inc

Estimates

Annual

Trading Data

Stock Price


102 SPX

Ticker: SSN


322K ‐0.04 46.67 33.68 ‐95.93 ‐0.29

61K ‐0.24 ‐95.00 33.45 ‐100.00 ‐0.27

2015 ‐0.01 0.00 ‐263% ‐104% 25% 13.30

200D MAVG

81K ‐0.12 ‐52.27 33.66 ‐96.25 ‐0.28

2014 0.00 0.00 ‐22% ‐11% 83% 10.62

76K ‐0.31 ‐92.31 33.41 ‐99.68 ‐0.25

2016 0.00 0.00 ‐126% ‐117% ‐32% 9.00

50D MAVG

SPX


3000

Mar 17 85% N/A 3% 0.66 0.18

500

0.02

1 2 3 4 5 6 7 8 9 10


Change 283% N/A 63% N/A N/A ‐33% ‐100%

30,804,446 30,258,821 24,478,401 23,050,000 19,000,009 18,000,000 14,000,000 13,340,289 11,936,010 8,371,576

Dec 16 0% 0% 4


Top 10 Holders (Shares Held) STEPHEN A FEINBERG DEREK COOKE YVONNE EL‐BAYEH MAHOMED HUSSEIN JAMIL VOGLIOTTI PETER ANTHONY MIRKAZEMI PEDRAM MILANTO PTY LTD MACLACHLAN NEIL THACKER DOSWELL JULIE MICHAEL BAXTER

Dec 16 1% 0% 13 1 5 2 0


Ownership

Q3 N/A N/A N/A N/A

S2 N/A N/A N/A N/A

Q1 N/A N/A N/A N/A YEAR 2012 2013 2014 2015

BLOOMBERG BEST ESTIMATES ‐ EPS S1 N/A N/A N/A N/A

S2 ‐28.17 ‐10.17 1.78 ‐12.39

BLOOMBERG BEST ESTIMATES ‐ EBITDA S1 Q3 ‐5.22 N/A ‐1.87 N/A 0.09 N/A ‐18.06 N/A Q1 N/A N/A N/A N/A

Dec 16 ‐‐ ‐‐ 107% ‐117% ‐43% 4

YEAR 2012 2013 2014 2015

Sep 16 ‐‐ ‐‐ ‐333% ‐‐ ‐20% 5

S2 3.96 2.53 7.93 7.35

Jun 16 ‐‐ ‐‐ ‐231% ‐104% ‐7% 7

BLOOMBERG BEST ESTIMATES ‐ REVENUE S1 Q3 4.42 N/A 3.27 N/A 2.68 N/A 5.95 N/A

Mar 16 ‐‐ ‐‐ ‐303% ‐50% 121% 6

Q1 N/A N/A N/A N/A

Dec 15 ‐‐ ‐‐ ‐23% ‐11% 213% 8

Mkt Cap: $7.75 MM

YEAR 2012 2013 2014 2015


Sep 15 ‐‐ ‐‐ ‐22% ‐27% ‐18% 3

Float: 16.42 MM


0

1000

0.04

0

1500

0.06

2000

CLOSE PRICE

95K ‐0.03 ‐50.62 34.07 ‐86.23 ‐0.31

2013 ‐0.01 0.00 ‐239% ‐26% ‐31% 5.80

0.08

0.21

6K

2012 ‐0.02 0.00 ‐427% ‐50% 40% 8.39

2500

‐‐ ‐‐ ‐‐ ‐‐

2011 ‐‐ ‐0.01 1119% ‐11% 106% 5.97 EPS ($) CF/SHR ($) PRETAX MARGIN RETURN ON EQUITY SALES % CHANGE SALES (MIL$)


0.1

0.12





Samson Oil & Gas Ltd is a oil and gas exploration and production company. The Company's exploration activities are focused in Wyoming, USA.

Domicile: Perth, WA

Estimates

Annual

Trading Data

Stock Price


Samson Oil & Gas Ltd

Samson Oil & Gas Ltd

SPX

103

Mar 17 ‐‐ ‐‐ ‐30% ‐‐ 46% 7


Ticker: SN

Exchange: New York

0

5

10

15

20

25

30

35

40

45


‐‐ ‐‐ ‐‐ ‐‐ ‐‐



Financial Details

0.00

2011 0.09 0.25 14% 2% 219% 14.52

‐‐ ‐‐ ‐‐ ‐‐ ‐‐

‐‐ ‐‐ ‐‐ ‐‐ ‐‐

CLOSE PRICE

0.06

2012 ‐0.56 0.88 ‐38% ‐6% 195% 42.85

0.62

2013 0.22 5.20 10% 3% 614% 305.80

‐‐ ‐‐ ‐‐ ‐‐ ‐‐ ‐‐

‐‐

‐1.16

‐75.03

364K

2015 ‐25.70 4.75 ‐234% ‐‐ ‐8% 618.25

200D MAVG

‐0.15

149K

2014 ‐1.06 7.94 ‐5% 0% 120% 671.66

‐‐ ‐‐

‐‐

‐1.56

‐49.83

800K

2016 ‐4.63 3.08 ‐45% ‐‐ ‐8% 566.93

50D MAVG

Corporate


Float: 82.32 MM

Mkt Cap: $442.89 MM

SPX


1 2 3 4 5 6 7 8 9 10

Change 38% ‐26% 33%

11,559,721 4,896,519 3,899,898 3,694,056 2,182,676 2,149,777 1,955,000 1,765,598 1,414,666 1,394,783

Dec 16 13% 2% 16


Top 10 Holders (Shares Held) VANGUARD GROUP STATE STREET CORP SANCHEZ JR ANTONIO R BLACKROCK TIDE POINT CAPITAL MANAGEMENT LP HOTCHKIS & WILEY CAPITAL MGMT BLACKSTONE GROUP LP RENAISSANCE TECHNOLOGIES LLC SANCHEZ MANAGEMENT CORP SANCHEZ III ANTONIO R

Dec 16 67% 80% 216 67 58 39 22


Ownership Change ‐25% ‐21% 19% ‐12% 7% 70% ‐56%

Q4 ‐1.18 0.30 0.82 0.357 E

Q1 ‐0.31 ‐8.83 ‐1.20 ‐0.18


Mar 17 ‐0.18 ‐0.19 7% ‐‐ 1% 134

YEAR 2014 2015 2016 2017

Dec 16 0.82 0.76 40% ‐‐ ‐6% 145

Q4 ‐66.78 86.93 64.12 143.9 E

Sep 16 ‐1.19 0.83 ‐45% ‐‐ ‐7% 143

BLOOMBERG BEST ESTIMATES ‐ EBITDA Q1 Q2 Q3 86.26 95.70 147.60 ‐365.81 ‐365.58 ‐359.85 42.78 ‐16.78 13.49 19.63 99.673 E 121.67 E

Jun 16 ‐3.20 1.07 ‐126% ‐‐ ‐14% 146

YEAR 2014 2015 2016 2017

Mar 16 ‐1.20 0.45 ‐49% ‐‐ ‐5% 133

Q4 187.74 155.02 145.34 260.143 E

Dec 15 0.30 0.75 15% ‐‐ ‐17% 155


Sep 15 ‐7.33 1.38 ‐271% ‐‐ ‐25% 154

YEAR 2014 2015 2016 2017




0

500

1000

1500

2000

2500

3000

Mar 17 235% N/A 7% 2.08 0.02

Sanchez Energy Corporation is an independent exploration and production company, focused on the acquisition and development of unconventional oil and natural gas resources in the onshore U.S. Gulf Coast, with a current focus on the horizontal development of significant resource potential from the Eagle Ford Shale in South Texas and the TMS in Mississippi and Louisiana. The Company has accumulated net leasehold acreage in the oil and condensate, or black oil and volatile oil, windows of the Eagle Ford Shale in what it believes to be the core of the TMS.

Sanchez Energy Corporation

Sanchez Energy Corporation

Estimates

Annual

Trading Data

Stock Price


104 SPX


Ticker: SBOW

Exchange: New York


Float: 11.48 MM

Annual

0 5/6/2016

5

10

15

20

25

30

35

40


‐‐ ‐‐ ‐‐ ‐‐ ‐‐ ‐‐

2011 2.29 8.80 23% 9% 37% 599.13

8/6/2016



‐‐ ‐‐ ‐‐ ‐‐ ‐‐ ‐‐

‐‐ ‐‐ ‐‐ ‐‐ ‐‐ ‐‐

CLOSE PRICE

2012 0.48 7.34 7% 2% ‐7% 557.29

‐‐ ‐‐ ‐‐ ‐‐ ‐‐ ‐‐

‐‐ ‐‐ ‐‐ ‐‐ ‐‐ ‐‐

2015 ‐37.20 0.95 ‐709% ‐‐ ‐55% 244.72

200D MAVG

2014 ‐6.47 7.00 ‐79% 0% ‐6% 549.46

11/6/2016

2013 ‐0.06 7.19 0% 3% 5% 584.40

‐‐ ‐‐ ‐‐ ‐‐ ‐‐ ‐‐

50D MAVG

2/6/2017

2016 69.44 0.60 482% ‐‐ ‐41% 144.32

5/6/2017

SPX


1 2 3 4 5 6 7 8 9 10

Change N/A N/A N/A

4,476,462 1,442,241 917,216 717,904 575,229 359,500 210,330 177,247 74,808 62,698

Dec 16 1% ‐10% 2


Top 10 Holders (Shares Held) STRATEGIC VALUE PARTNERS LLC DW PARTNERS LP HUTCHIN HILL CAPITAL LP BOF HOLDINGS PENTWATER CAPITAL MANAGEMENT MATLINPATTERSON GLOBAL ADVISERS BLACKROCK VANGUARD GROUP ROWLAND MARCUS C WOOLVERTON SEAN C

Dec 16 52% 25% 19 0 1 11 2



Q4 ‐6.80 ‐11.88 ‐0.71 0.88 E

BLOOMBERG BEST ESTIMATES ‐ EPS Q2 Q3 0.18 0.06 ‐6.58 ‐7.96 14.80 0.04 0.39 E 0.56 E Q1 0.12 ‐10.79 ‐2.42 1.58 YEAR 2014 2015 2016 2017

Mar 17 1.58 1.04 33% ‐‐ 55% 53

Q4 ‐377.98 ‐471.27 7.91 32.6 E

Sep 16 0.04 1.35 1% ‐‐ ‐16% 51

BLOOMBERG BEST ESTIMATES ‐ EBITDA Q1 Q2 Q3 92.81 104.51 90.85 ‐477.64 ‐232.68 ‐299.54 ‐82.99 836.38 19.56 31.03 20.1 E 24.9 E

Jun 16 14.80 ‐0.56 2779% 253% ‐56% 29

YEAR 2014 2015 2016 2017

Mar 16 ‐2.42 0.11 ‐316% ‐‐ ‐50% 34

Q4 110.49 50.10 30.29 58 E

Dec 15 ‐11.88 0.31 ‐1058% ‐‐ ‐55% 50


Sep 15 ‐7.96 ‐0.02 ‐590% ‐‐ ‐57% 60

YEAR 2014 2015 2016 2017




0

500

1000

1500

2000

2500

3000

Mar 17 72% N/A 7% N/A N/A

Estimates

Financial Details Dec 16 ‐0.71 1.81 ‐23% ‐‐ ‐40% 30

Mkt Cap: $288.57 MM


Trading Data

Stock Price

Quarter

Corporate

SilverBow Resources, Inc. is a Houston‐based energy company engaged in the exploration, development, and production of oil and gas from the Eagle Ford Shale in South Texas. The Company leverages their regional reservoir understanding to enhance their operations and maximize returns.

SilverBow Resources Inc

SilverBow Resources Inc

SPX

105


Ticker: SM

Exchange: New York

0

10

20

30

40

50

60

70

80

90

100




Financial Details

1,035K 55.60 89.33 78.86 ‐18.16 12.64

2011 3.38 11.93 21% 13% 47% 1603.32

884K 68.24 142.73 72.54 ‐12.32 15.66

2013 2.57 20.09 12% 20% 51% 2265.40

CLOSE PRICE

698K 38.54 157.07 64.68 ‐42.80 13.03

2012 ‐0.83 14.15 ‐6% 7% ‐6% 1505.10

711K ‐21.48 ‐73.11 48.24 ‐87.84 11.01

2015 ‐6.61 14.45 ‐48% ‐17% ‐40% 1513.93

200D MAVG

868K 17.08 ‐34.53 53.91 ‐63.91 13.99

2014 9.91 21.67 42% 20% 11% 2521.66

817K ‐11.11 ‐33.96 52.46 ‐68.41 9.73

2016 ‐9.90 7.22 ‐99% ‐16% ‐20% 1217.45

50D MAVG

Corporate


Float: 111.26 MM


SPX


1 2 3 4 5 6 7 8 9 10

Change ‐36% ‐51% ‐10%

10,039,462 8,779,988 8,604,604 7,145,982 6,923,941 6,909,664 5,381,803 4,415,234 3,993,599 3,766,613

Dec 16 1% 4% 19


Top 10 Holders (Shares Held) ENCAP ENERGY CAPITAL VANGUARD GROUP BLACKROCK FMR LLC CAPITAL GROUP COMPANIES INC CAUSEWAY CAPITAL MANAGEMENT LLC MILLENNIUM MANAGEMENT LLC STATE STREET CORP ALLIANCE BERNSTEIN KEY GROUP HOLDINGS (CAYMAN), LTD

Dec 16 116% 117% 402 146 89 93 43



Q4 4.92 ‐5.01 ‐2.20 ‐0.201 E

Q1 0.98 ‐0.79 ‐5.10 0.67

BLOOMBERG BEST ESTIMATES ‐ EPS Q2 Q3 0.89 3.10 ‐0.85 0.05 ‐2.48 ‐0.52 ‐0.292 E ‐0.244 E

Mar 17 0.67 1.21 35% ‐11% 58% 335

YEAR 2014 2015 2016 2017

Dec 16 ‐2.20 1.51 ‐95% ‐16% 16% 346

Q4 777.76 ‐265.55 ‐112.84 179.1 E

Sep 16 ‐0.52 2.02 ‐20% ‐22% ‐10% 330

BLOOMBERG BEST ESTIMATES ‐ EBITDA Q1 Q2 Q3 305.85 309.50 540.24 162.97 168.83 275.98 ‐312.52 ‐19.53 176.31 303.41 153.833 E 165.4 E

Jun 16 ‐2.48 2.04 ‐91% ‐27% ‐34% 292

YEAR 2014 2015 2016 2017

Mar 16 ‐5.10 1.74 ‐256% ‐22% ‐47% 212

Q4 595.23 299.20 346.24 318.667 E

Dec 15 ‐5.01 2.85 ‐180% ‐17% ‐50% 299


Sep 15 0.05 3.46 0% ‐9% ‐40% 369

YEAR 2014 2015 2016 2017




0

500

1000

1500

2000

2500

3000

Mar 17 54% 0.05 9% 1.95 ‐0.52

SM Energy Company is an independent energy company that explores for and produces natural gas and crude oil. The Company's operations are focused on The ArkLaTex, Gulf Coast, Mid‐Continent, Rocky Mountains, and Permian Basin regions.

SM Energy Company

SM Energy Company

Estimates

Annual

Trading Data

Stock Price


106 SPX

Domicile: Spring, TX

Ticker: SWN

Exchange: New York


Float: 505.87 MM


Annual

3,788K ‐13.79 ‐77.74 43.33 ‐88.53 6.73

2015 ‐12.25 4.15 ‐196% 2% ‐17% 3339.00

2,932K ‐11.32 ‐67.61 46.12 ‐81.62 5.19

2016 ‐6.32 1.14 ‐108% ‐‐ ‐26% 2472.00

50D MAVG

SPX


3000

Mar 17 78% N/A 7% 1.13 ‐0.95

1000

500

0

20

10

0

Mar 17 0.57 0.63 41% ‐‐ 44% 846

1 2 3 4 5 6 7 8 9 10

Change ‐24% ‐104% 4%

Change ‐4% ‐4% 2% 8% ‐20% 48% ‐17%

60,501,156 59,248,394 54,779,551 32,085,452 22,332,221 20,235,965 14,546,663 9,774,475 9,696,227 9,248,402

Dec 16 1% ‐1% 24


Top 10 Holders (Shares Held) CAPITAL GROUP COMPANIES INC VANGUARD GROUP BLACKROCK STATE STREET CORP FMR LLC MILLENNIUM MANAGEMENT LLC GOLDMAN SACHS GROUP INC PRIMECAP MANAGEMENT COMPANY POINT72 KEY GROUP HOLDINGS (CAYMAN), LTD

Dec 16 126% 127% 746 296 163 111 100

Dec 15 131% 132% 734 275 204 75 120



Ownership

Q1 0.55 0.12 ‐3.03 0.57

Q4 0.89 ‐5.58 ‐0.48 0.182 E YEAR 2014 2015 2016 2017

Dec 16 ‐0.48 0.33 ‐31% ‐‐ ‐7% 703

Q4 534.00 ‐2277.00 228.00 347.313 E

Sep 16 ‐1.52 0.36 ‐114% ‐‐ ‐20% 641

BLOOMBERG BEST ESTIMATES ‐ EBITDA Q1 Q2 Q3 660.00 597.00 524.00 494.00 ‐922.00 ‐2519.00 ‐950.00 ‐362.00 ‐636.00 372.00 303.563 E 314.563 E

Jun 16 ‐1.61 0.19 ‐109% ‐‐ ‐33% 545

YEAR 2014 2015 2016 2017

Mar 16 ‐3.03 0.24 ‐193% ‐‐ ‐40% 586

Q4 962.00 756.00 703.00 866.778 E

Dec 15 ‐5.58 0.92 ‐341% 2% ‐21% 756


Sep 15 ‐4.62 0.75 ‐354% 8% ‐14% 798

YEAR 2014 2015 2016 2017




1500

30

2000

200D MAVG

7,346K 20.36 ‐27.09 58.71 ‐49.36 8.97

2014 2.63 6.64 36% 19% 20% 4038.00

40

5,067K 36.14 ‐18.40 73.09 ‐25.87 9.65

2013 2.01 5.45 35% 21% 23% 3371.15

CLOSE PRICE

3,746K 31.50 15.33 69.71 ‐37.20 9.14

2012 ‐2.03 4.74 ‐42% 14% ‐8% 2729.99

2500

6,703K 29.90 14.64 68.80 ‐40.02 8.97

2011 1.84 5.05 36% 18% 13% 2952.91 Corporate

50

60




Estimates

Financial Details


Trading Data

Stock Price

Quarter

Southwestern Energy Company is an independent energy company primarily focused on natural gas and crude oil exploration, development and production (E&P) within the United States. The Company operations also include natural gas gathering, transmission, and marketing, as well as natural gas distribution.

Southwestern Energy Company

Southwestern Energy Company

SPX

107


Ticker: STEP CN

Exchange: Toronto


‐‐ ‐‐ ‐‐ ‐‐ ‐‐ ‐‐

2015 ‐0.21 0.51 ‐4% ‐‐ ‐‐ 115.47

200D MAVG

‐‐ ‐‐ ‐‐ ‐‐ ‐‐ ‐‐

2014 ‐‐ ‐‐ ‐‐ ‐‐ ‐‐ ‐‐

‐‐ ‐‐ ‐‐ ‐‐ ‐‐ ‐‐

2016 ‐0.47 ‐0.38 ‐15% ‐9% 46% 169.15

50D MAVG

SPX


3000

Mar 17 12% N/A 10% N/A N/A

Mkt Cap: $571.14 MM

1000

500

0

4

2

0 5/5/2017

1 2 3 4 5 6 7 8 9 10

Change N/A N/A N/A

30,600,000 15,600,000 801,379 134,000 62,017 58,000 54,548 52,000 50,000 47,017

Dec 16 N/A N/A N/A


Top 10 Holders (Shares Held) ARC ENERGY FUND 8 ARC EQUITY MANAGEMENT FUND 3 CONNOR CLARK & LUNN INV DAVIS REGAN T KELLY MICHAEL GRANT SPRINKHUYSEN ROBERT W GLANVILLE STEPHEN EPP BAILEY BANK OF NOVA SCOTIA SKEHAR JASON E




Q4 N/A N/A ‐0.08 E 0.224 E

BLOOMBERG BEST ESTIMATES ‐ EPS Q2 Q3 N/A N/A N/A N/A ‐0.21 E ‐0.04 E ‐0.03 E 0.192 E Q1 N/A N/A ‐0.29 E 0.18

Mar 17 0.18 0.07 11% ‐‐ ‐‐ 118

YEAR 2014 2015 2016 2017

Q4 N/A N/A N/A 155 E

Dec 16 ‐‐ ‐‐ ‐‐ ‐‐ ‐‐ ‐‐

Q4 N/A N/A N/A 28.833 E

Sep 16 ‐‐ ‐‐ ‐‐ ‐‐ ‐‐ ‐‐

BLOOMBERG BEST ESTIMATES ‐ EBITDA Q2 Q3 N/A N/A N/A N/A N/A N/A 8.069 E 25.433 E

Jun 16 ‐‐ ‐‐ ‐‐ ‐‐ ‐‐ ‐‐

Q1 N/A N/A N/A 19.64

Mar 16 ‐‐ ‐‐ ‐‐ ‐‐ ‐‐ ‐‐

YEAR 2014 2015 2016 2017

Dec 15 ‐‐ ‐‐ ‐‐ ‐‐ ‐‐ ‐‐

BLOOMBERG BEST ESTIMATES ‐ REVENUE Q1 Q2 Q3 N/A N/A N/A N/A N/A N/A N/A N/A N/A 117.98 74.85 E 138.25 E

Sep 15 ‐‐ ‐‐ ‐‐ ‐‐ ‐‐ ‐‐

YEAR 2014 2015 2016 2017




1500

6

2000

‐‐ ‐‐ ‐‐ ‐‐ ‐‐ ‐‐

2013 ‐‐ ‐‐ ‐‐ ‐‐ ‐‐ ‐‐

8

CLOSE PRICE

‐‐ ‐‐ ‐‐ ‐‐ ‐‐ ‐‐

2012 ‐‐ ‐‐ ‐‐ ‐‐ ‐‐ ‐‐

2500

‐‐ ‐‐ ‐‐ ‐‐ ‐‐ ‐‐

2011 ‐‐ ‐‐ ‐‐ ‐‐ ‐‐ ‐‐

10

12





STEP Energy Services Ltd. operates as an oilfield service company. The Company offers coiled tubing and hydraulic fracturing, chemical laboratory, and fluid pumping solutions. STEP Energy Services serves customers in Western Canada and South Texas.

STEP Energy Services Ltd

STEP Energy Services Ltd

Estimates

Annual

Trading Data

Stock Price


108 SPX


Ticker: SOG CN

Exchange: Venture


Float: 46.37 MM

Mkt Cap: $108.98 MM

Annual

0

5

10

15

20

25

30

35




1K 4.80 45.00 38.49 ‐62.07 ‐7.19

2011 ‐3.60 ‐0.65 ‐137% ‐21% 230% 18.78

CLOSE PRICE

4K 18.60 227.78 42.17 ‐46.80 ‐5.92

2012 ‐0.60 2.12 ‐15% ‐3% 151% 47.21

26K 11.00 27.12 38.71 ‐67.98 ‐5.55

2013 ‐2.00 1.70 ‐39% ‐20% 25% 58.89

36K ‐16.60 ‐91.95 33.90 ‐99.04 ‐6.63

2015 ‐4.00 0.07 ‐292% ‐58% ‐36% 37.73

200D MAVG

9K ‐8.10 ‐83.47 34.74 ‐95.32 ‐6.08

2014 ‐6.80 0.70 ‐225% ‐43% 0% 58.71

64K ‐40.20 ‐89.83 34.59 ‐96.63 ‐6.90

2016 1.21 0.12 143% ‐9% ‐45% 20.60

50D MAVG

SPX


1 2 3 4 5 6 7 8 9 10

Change 16% ‐100% 29%

Change 10% 53% ‐17% ‐50% ‐50% N/A 0%

26,676,992 5,836,917 2,708,333 1,492,869 985,000 684,575 95,679 56,750 41,081 35,029

Dec 16 2% 0% 9


Top 10 Holders (Shares Held) GMT CAPITAL CORP LIBRA ADVISORS LLC COXE DONALD G M ROYAL BANK OF CANADA PARAMOUNT RESOURCES LTD GRAHAM MICHAEL M SAWHNEY GURPREET SINGH RIDDELL JAMES H T JOY BARBARA SKEITH DONALD R

Dec 16 80% 62% 5 1 1 0 1


Ownership

Q3 0.00 ‐2.40 ‐0.20 N/A

Q4 ‐4.40 ‐1.17 1.82 N/A

Q1 ‐0.80 ‐0.40 ‐2.60 ‐0.10 YEAR 2014 2015 2016 2017


Q4 13.59 ‐25.75 54.43 N/A

Dec 16 1.82 ‐0.04 725% ‐3% ‐11% 7

BLOOMBERG BEST ESTIMATES ‐ EBITDA Q2 Q3 4.15 3.35 4.08 ‐58.67 0.28 ‐0.06 N/A N/A

Sep 16 ‐0.20 0.08 ‐132% ‐78% ‐40% 5

Q1 1.70 1.87 ‐1.68 2.34

Jun 16 ‐0.20 0.14 ‐110% ‐59% ‐55% 5

YEAR 2014 2015 2016 2017

Mar 16 ‐2.60 ‐1.09 ‐177% ‐53% ‐63% 4

Q4 16.70 7.55 6.70 N/A

Dec 15 ‐1.17 ‐0.01 ‐421% ‐58% ‐55% 8


Sep 15 ‐2.40 0.16 ‐850% ‐52% ‐42% 8

YEAR 2014 2015 2016 2017




0

500

1000

1500

2000

2500

3000

Mar 17 25% N/A 10% 1.42 0.31

Estimates

Financial Details


Trading Data

Stock Price

Quarter

Corporate

Mar 17 ‐0.10 0.00 ‐58% ‐4% 90% 8

Strategic Oil & Gas Ltd. is a junior oil and gas company committed to becoming a premier northern oil and gas operator by exploiting its light oil assets primarily in northern Alberta. The Company relies on its extensive subsurface and reservoir experience to develop its asset base and grow production and cash flows while managing risk. The Company maintains control over its resource base through high working interest ownership in wells, construction and operation of its own processing facilities and a significant undeveloped land and opportunity base.

Strategic Oil & Gas Ltd

Strategic Oil & Gas Ltd

SPX

109

Domicile: Norwood, SA

Ticker: SEA AU

Exchange: ASE

0

0.2

0.4

0.6

0.8

1

1.2

1.4

1.6


‐‐ ‐‐

‐‐



Financial Details

0.01

56.60

162K

2011 0.03 0.04 41% 0% 347% 29.20

‐‐ ‐‐

‐‐ ‐‐ ‐‐

‐‐

333K

2013 0.04 0.15 25% 5% 187% 85.35

0.07

1143.75

CLOSE PRICE

0.02

41.77

97K

2012 0.00 0.04 34% 3% 2% 29.79

‐‐ ‐‐

‐‐ ‐‐ ‐‐ 0.03

1,286K ‐0.22 ‐79.52

2015 ‐0.48 0.10 ‐402% ‐17% ‐42% 92.19

200D MAVG

0.06

208.82

1,730K

2014 0.03 0.24 9% 6% 87% 159.79

‐‐ ‐‐ 0.01

1,200K ‐0.48 ‐60.71

2016 ‐0.05 0.04 ‐66% ‐17% ‐28% 66.61

50D MAVG

Corporate


Float: 1253.25 MM

Mkt Cap: $85.22 MM

SPX


Top 10 Holders (Shares Held) GAFFWICK PTY LTD COMMONWEALTH BANK OF AUSTR TAYLOR JAMES DAVID ADVISORY RESEARCH INCORPORATED PROVIDENT MINERALS PTE LTD GROUP INVESTMENT AUS PL DIMENSIONAL FUND ADVISORS LP FMR LLC VISTRA GENEVA SA HANNES DAMIEN ASHLEY


Change ‐27% ‐47% ‐15% ‐78% 0% 25% N/A

140,769,646 77,246,958 64,804,045 56,024,156 18,292,076 13,081,834 12,929,527 12,921,477 10,000,000 6,247,716

Dec 13 2% 3% 6


1 2 3 4 5 6 7 8 9 10

Dec 13 28% 19% 17 2 2 5 0


Ownership

Q3 N/A N/A N/A N/A

S2 0.02 0.03 0.00 ‐0.44

Q1 N/A N/A N/A N/A YEAR 2012 2013 2014 2015

BLOOMBERG BEST ESTIMATES ‐ EPS S1 0.00 0.01 0.03 ‐0.04

S2 13.83 45.47 41.46 ‐298.60

BLOOMBERG BEST ESTIMATES ‐ EBITDA S1 Q3 5.74 N/A 13.53 N/A 48.78 N/A 19.27 N/A

Jun 16 ‐0.04 0.03 ‐77% ‐20% ‐56% 24.22

Q1 N/A N/A N/A N/A

Dec 15 ‐0.44 0.03 ‐909% ‐17% ‐59% 37.08

YEAR 2012 2013 2014 2015

Jun 15 ‐0.04 0.07 ‐62% 1% ‐21% 55.11

S2 18.05 58.89 90.38 37.08

Dec 14 0.00 0.15 0% 6% 53% 90.38

BLOOMBERG BEST ESTIMATES ‐ REVENUE S1 Q3 11.74 N/A 26.46 N/A 69.41 N/A 55.11 N/A

Jun 14 0.03 0.09 21% 6% 162% 69.41

Q1 N/A N/A N/A N/A

Dec 13 0.03 0.11 30% 5% 226% 58.89

YEAR 2012 2013 2014 2015




0

500

1000

1500

2000

2500

3000

Dec 16 ‐10% N/A 21% 2.70 ‐1.08

Sundance Energy Australia Limited explores for and produces oil and natural gas. The Company operates onshore oil and gas properties in the Cooper Basin in Australia and in Hughes County, Oklahoma, in the United States.

Sundance Energy Australia Ltd

Sundance Energy Australia Ltd

Estimates

Annual

Trading Data

Stock Price


110 SPX

Dec 16 ‐0.02 0.01 ‐60% ‐17% 14% 42.39

Domicile: Vernal, UT

Ticker: SDPI



0 5/23/2014

1

2

3

4

5

6

7

8

9

8/23/2014


11/23/2014

‐‐ ‐‐ ‐‐ ‐‐ ‐‐ ‐‐



Financial Details

‐‐ ‐‐ ‐‐ ‐‐ ‐‐ ‐‐

2012 ‐‐ ‐‐ ‐‐ ‐‐ ‐‐ ‐‐

‐‐ ‐‐ ‐‐ ‐‐ ‐‐ ‐‐

5/23/2015

CLOSE PRICE

2/23/2015

2011 ‐‐ ‐‐ ‐‐ ‐‐ ‐‐ ‐‐

‐‐ ‐‐ ‐‐ ‐‐ ‐‐ ‐‐

8/23/2015

2013 ‐‐ ‐‐ 31% ‐‐ ‐‐ 11.92

‐‐ ‐‐ ‐‐ ‐‐ ‐‐ ‐‐

2015 ‐0.83 0.04 ‐117% ‐28% ‐37% 12.71

11/23/2015

‐‐ ‐‐ ‐‐ ‐‐ ‐‐ ‐‐

2/23/2016

200D MAVG

2014 ‐0.04 0.32 ‐1% ‐4% 68% 20.04 Corporate 8/23/2016

50D MAVG

5/23/2016

2016 ‐0.48 ‐0.10 ‐128% ‐53% ‐44% 7.15

11/23/2016

SPX

2/23/2017


0

Q4 ‐0.01 ‐0.53 ‐0.11 ‐0.01 E

BLOOMBERG BEST ESTIMATES ‐ EPS Q2 Q3 ‐0.06 ‐0.04 ‐0.13 ‐0.11 ‐0.18 ‐0.07 ‐0.01 E ‐0.01 E Q1 #N/A N/A E ‐0.06 ‐0.13 ‐0.02 YEAR 2014 2015 2016 2017

1 2 3 4 5 6 7 8 9 10

Change ‐19% 551% 0%

10,277,845 2,727,177 1,332,257 1,200,000 350,565 222,187 180,000 149,402 127,418 83,042

Dec 16 43% 11% 6


Top 10 Holders (Shares Held) MEIER G TROY FMR LLC WALKER REID LONE STAR VALUE MANAGEMENT LLC PENN CAPITAL MANAGEMENT CO INC BRIDGEWAY CAPITAL MANAGEMENT INC GAM HOLDING AG CASHION CHRISTOPHER D VANGUARD GROUP WOODSTOCK CORPORATION

Dec 16 19% 37% 17 3 3 4 1


Ownership Change ‐41% ‐53% ‐11% 200% ‐63% 300% ‐50%

Q4 1.17 ‐7.97 ‐1.31 1.2 E

BLOOMBERG BEST ESTIMATES ‐ EBITDA Q2 Q3 1.58 0.72 ‐0.48 ‐0.38 ‐1.76 ‐0.03 1.2 E 1.2 E

Dec 16 ‐0.11 ‐0.02 ‐112% ‐53% ‐15% 2

Q1 1.45 0.10 ‐0.85 0.69

Sep 16 ‐0.07 ‐0.03 ‐52% ‐37% ‐25% 2

YEAR 2014 2015 2016 2017

Jun 16 ‐0.18 ‐0.03 ‐278% ‐44% ‐61% 1

Q4 6.08 2.73 2.33 3.8 E

Mar 16 ‐0.13 ‐0.02 ‐155% ‐36% ‐65% 1


Dec 15 ‐0.53 0.00 ‐347% ‐28% ‐55% 3

Q1 3.73 4.07 1.44 3.37

Sep 15 ‐0.11 0.01 ‐63% ‐20% ‐48% 3

YEAR 2014 2015 2016 2017




5/23/2017

500

1000

1500

2000

2500

3000

Mar 17 51% N/A 8% 1.25 ‐0.09

Estimates

Annual

Mkt Cap: $19.28 MM


Trading Data

Stock Price

Quarter

Superior Drilling Products, Inc. manufactures new and re‐manufactured diamond drill bits and drill string components. The Company offers its products to the oil, natural gas, and mining drilling industries.

Superior Drilling Products Inc

Superior Drilling Products Inc

SPX

111

Mar 17 ‐0.02 ‐0.03 ‐11% ‐44% 133% 3


Ticker: TVE CN

Exchange: Toronto

0

1

2

3

4

5

6

7

8

9


‐‐ ‐‐

‐‐



Financial Details

‐0.69

4.55

1K

2011 ‐0.24 0.66 ‐25% ‐8% 144% 15.71

‐‐ ‐‐

‐‐ ‐‐

CLOSE PRICE

‐0.88

20K ‐4.77 41.67

2012 ‐0.16 0.54 ‐15% ‐5% 101% 31.59

‐0.92

43K ‐5.24 116.09

2013 0.44 0.98 28% 6% 91% 60.36

‐‐ ‐‐

‐‐ ‐85.77 ‐1.05

27K ‐14.41 ‐27.78

2015 ‐0.19 0.68 ‐23% 0% 5% 113.05

200D MAVG

‐0.99

15K ‐6.94 ‐54.72

2014 ‐0.40 1.06 ‐29% 4% 78% 107.54

790K ‐7.34 35.69 43.18 ‐82.98 ‐1.04

2016 ‐0.23 0.50 ‐27% ‐2% 5% 119.02

50D MAVG

Corporate


Float: 227.67 MM

SPX


Q4 ‐0.50 0.05 ‐0.06 0.033 E

BLOOMBERG BEST ESTIMATES ‐ EPS Q2 Q3 0.09 0.11 ‐0.03 ‐0.15 ‐0.09 ‐0.02 0 E 0.015 E Q1 0.03 ‐0.07 ‐0.06 0.01 YEAR 2014 2015 2016 2017

1 2 3 4 5 6 7 8 9 10

Change ‐22% ‐329% 0%

41,443,300 18,743,328 9,405,626 8,507,424 4,340,836 2,864,590 2,072,109 1,893,606 1,871,732 1,624,590

Dec 16 2% 3% 12


Top 10 Holders (Shares Held) GMT CAPITAL CORP FIERA CAPITAL CORPORATION CANOE FINANCIAL LP NATCAN INVESTMENT MANAGEMENT AGF MANAGEMENT LIMITED IG INVESTMENT MANAGEMENT LTD VICTORY CAPITAL MANAGEMENT INC SEI INVESTMENTS CO CI INVESTMENTS INC CANADIAN IMPERIAL BANK OF COMMER

Dec 16 48% 49% 46 20 8 8 6


Ownership Change 10% 10% 48% 100% 0% 100% 100%

Q4 ‐14.34 21.96 18.05 48.1 E

Mar 17 0.01 0.11 7% ‐1% 128% 55


Sep 16 ‐0.02 0.10 ‐7% ‐1% 8% 31

Q1 13.39 13.70 11.17 27.04

Jun 16 ‐0.09 0.13 ‐50% ‐1% 9% 28

YEAR 2014 2015 2016 2017

Mar 16 ‐0.06 0.14 ‐32% ‐1% ‐8% 24

Q4 27.28 32.64 35.88 80.233 E

Dec 15 0.05 0.23 15% 0% 20% 33


Sep 15 ‐0.15 0.12 ‐62% ‐3% ‐12% 29

YEAR 2014 2015 2016 2017




0

500

1000

1500

2000

2500

3000

Mar 17 9% N/A 16% 1.78 ‐0.07

Dec 16 ‐0.06 0.13 ‐24% ‐2% 10% 36

Mkt Cap: $539.58 MM

Tamarack Valley Energy Ltd. explores for oil and natural gas in the western Canadian sedimentary basin. The Company owns Cardium light oil properties in Alberta, and natural gas properties in Alberta and British Columbia.

Tamarack Valley Energy Ltd

Tamarack Valley Energy Ltd

Estimates

Annual

Trading Data

Stock Price


112 SPX

Domicile: Riverton, WY

Ticker: USEG

Exchange: NASDAQ CM



0

5

10

15

20

25

30

35



Annual

Financial Details

7K ‐21.84 ‐31.53 47.02 ‐82.52 ‐3.70

2011 ‐1.08 0.73 ‐20% ‐2% 10% 28.98

CLOSE PRICE

66K ‐28.38 ‐8.54 45.19 ‐90.53 ‐4.88

2012 ‐2.46 2.90 ‐29% ‐4% 12% 32.56

32K ‐12.95 ‐36.59 48.63 ‐65.11 ‐4.68

2013 ‐1.62 3.78 ‐23% ‐2% 3% 33.65

53K ‐47.45 ‐94.42 43.79 ‐99.37 ‐6.81

2015 ‐19.86 0.01 ‐658% ‐18% ‐69% 10.22

200D MAVG

26K ‐11.82 ‐75.66 45.53 ‐95.23 ‐5.55

2014 ‐0.48 4.47 3% 1% ‐3% 32.70

43K ‐42.88 ‐85.78 43.88 ‐98.73 ‐7.69

2016 ‐3.01 ‐0.39 ‐162% ‐61% ‐30% 7.19

50D MAVG

SPX


Float: 6.13 MM

Mkt Cap: $4.48 MM

YEAR 2014 2015 2016 2017

1 2 3 4 5 6 7 8 9 10

Change ‐51% N/A ‐50%

Change ‐25% ‐30% ‐21% 25% ‐20% ‐67% ‐60%

729,006 370,200 219,493 75,166 72,643 68,500 60,166 59,333 59,055 58,833

Dec 16 6% 1168% 6


Top 10 Holders (Shares Held) FREEPORT MCMORAN INC CVI INVESTMENTS INC BLACKROCK VELTRI DAVID A VANGUARD GROUP CONRAD STEPHEN V DANNI JERRY W FRASER JAMES B BANDY THOMAS R HEATH LEO A

Dec 16 14% 15% 26 5 4 1 4


Ownership

YEAR 2014 2015 2016 2017

Q4 ‐0.50 ‐8.38 0.19 N/A

Q1 8.10 2.57 1.95 1.75

YEAR 2014 2015 2016 2017

BLOOMBERG BEST ESTIMATES ‐ EPS Q2 Q3 0.00 0.00 ‐1.34 ‐30.36 ‐0.90 ‐0.06 N/A N/A

Dec 16 0.19 0.01 125% ‐16% ‐51% 1

Q1 0.06 ‐5.10 ‐2.28 ‐0.14

Sep 16 ‐0.06 ‐0.01 ‐13% ‐12% ‐24% 2

Q4 3.97 ‐13.11 N/A N/A

Jun 16 ‐0.90 ‐0.16 ‐177% ‐31% ‐27% 2

BLOOMBERG BEST ESTIMATES ‐ EBITDA Q2 Q3 4.05 3.92 ‐3.18 ‐22.02 ‐2.40 ‐0.05 N/A N/A

Mar 16 ‐2.28 ‐0.24 ‐425% ‐31% ‐24% 2

Q1 3.83 ‐20.69 ‐6.75 ‐0.43

Dec 15 ‐8.38 ‐0.25 ‐784% ‐28% ‐71% 2

Q4 6.00 1.74 0.86 N/A

Sep 15 ‐30.36 ‐1.00 ‐858% ‐19% ‐73% 3





0

500

1000

1500

2000

2500

3000

Mar 17 43% 0.60 7% 1.19 ‐0.56


Trading Data

Stock Price

Quarter

Corporate

Mar 17 ‐0.14 ‐0.06 ‐42% ‐49% ‐10% 2

US Energy Corporation explores for oil and natural gas. The Company operates on the Williston Basin and San Joaquin Basin in the Rocky Mountain region, and in prospect areas in the Gulf Coast region of the United States. U.S. Energy also develops geothermal energy, explores for molybdenum, and develops real estate.

US Energy Corporation Wyoming

US Energy Corporation Wyoming

SPX

113

Domicile: Tulsa, OK

Ticker: UNT

Exchange: New York

0

10

20

30

40

50

60

70

80




Financial Details

1,005K 23.40 0.32 61.11 ‐49.38 9.27

2011 4.11 12.77 26% 11% 37% 1206.79

384K 27.11 21.46 63.31 ‐44.87 9.83

2013 3.83 13.99 22% 9% 3% 1350.09

CLOSE PRICE

480K 24.12 68.60 60.08 ‐50.97 9.35

2012 0.48 14.42 3% 10% 9% 1315.12

194K ‐47.80 ‐73.71 41.00 ‐97.49 5.97

2015 ‐21.12 9.10 ‐185% 0% ‐43% 900.85

200D MAVG

308K ‐6.53 ‐26.64 51.39 ‐66.98 8.70

2014 2.80 14.59 14% 7% 16% 1566.91

185K ‐37.96 ‐40.36 48.51 ‐72.77 4.93

2016 ‐2.71 4.80 ‐34% ‐1% ‐32% 611.84

50D MAVG

Corporate

Sector: Intigrated Oil & Gas

Float: 52.82 MM

Mkt Cap: $946.07 MM

SPX


1 2 3 4 5 6 7 8 9 10

Change 0% ‐100% 0%

6,658,614 6,453,900 5,917,802 3,097,643 2,416,427 1,926,100 1,678,306 1,592,063 1,317,388 1,114,762

Dec 16 2% 0% 16


Top 10 Holders (Shares Held) BLACKROCK FMR LLC VANGUARD GROUP DIMENSIONAL FUND ADVISORS LP VICTORY CAPITAL MANAGEMENT INC FRANKLIN RESOURCES STATE STREET CORP VAN DEN BERG MANAGEMENT INC VOYA INVESTMENT MANAGEMENT LLC PRUDENTIAL FINANCIAL INC

Dec 16 108% 111% 262 85 78 35 27


Ownership Change ‐7% ‐7% 10% 0% 20% ‐22% ‐65%

Q4 ‐0.88 ‐6.29 0.03 0.282 E

Q1 1.17 ‐5.07 ‐0.83 0.32


Mar 17 0.32 1.31 17% 1% 29% 176

YEAR 2014 2015 2016 2017

Dec 16 0.03 0.85 2% ‐1% ‐8% 172

Q4 21.93 ‐412.75 77.23 88.625 E

Sep 16 ‐0.48 1.30 ‐25% ‐2% ‐28% 153

BLOOMBERG BEST ESTIMATES ‐ EBITDA Q1 Q2 Q3 194.49 196.87 195.85 ‐305.70 ‐335.89 ‐246.12 ‐2.05 ‐28.30 14.45 71.46 72.26 E 81 E

Jun 16 ‐1.44 1.24 ‐83% ‐2% ‐36% 138

YEAR 2014 2015 2016 2017

Mar 16 ‐0.83 1.42 ‐42% ‐2% ‐44% 136

Q4 391.50 186.75 172.20 212.25 E

Dec 15 ‐6.29 1.33 ‐266% ‐1% ‐52% 187


Sep 15 ‐4.18 2.52 ‐155% ‐1% ‐47% 212

YEAR 2014 2015 2016 2017




0

500

1000

1500

2000

2500

3000

Mar 17 40% N/A 13% 2.44 0.34

Unit Corporation, through its subsidiaries, contracts to drill onshore oil and natural gas wells, as well as develops, acquires, and produces oil and natural gas properties. The Company's operations are located primarily in the Anadarko and Arkoma Basins, as well as the south Texas and Permian Basins. Unit also has producing properties in other states and Canada.

Unit Corporation

Unit Corporation

Estimates

Annual

Trading Data

Stock Price


114 SPX


Ticker: VET CN

Exchange: Toronto


Float: 121.20 MM


Annual

0

10

20

30

40

50

60

70

80

90




173K 32.87 32.54 79.45 ‐14.03 10.19

2011 1.57 4.92 32% 21% 43% 977.34

256K 46.75 92.32 84.16 ‐1.25 12.89

2013 3.24 6.98 48% 19% 17% 1205.90

CLOSE PRICE

276K 40.47 106.31 81.49 ‐0.95 11.31

2012 1.94 5.07 34% 15% 5% 1031.02

331K 7.19 ‐17.10 60.46 ‐57.05 12.37

2015 ‐1.98 4.05 ‐23% 0% ‐30% 915.02

200D MAVG

242K 36.70 22.77 77.93 ‐29.82 13.55

2014 2.55 7.51 35% 12% 9% 1311.63

214K 18.50 8.70 67.98 ‐32.40 12.81

2016 ‐1.38 4.40 ‐25% ‐2% ‐2% 893.88

50D MAVG

SPX


Q4 0.54 ‐1.26 ‐0.03 0.094 E

BLOOMBERG BEST ESTIMATES ‐ EPS Q2 Q3 0.51 0.50 0.06 ‐0.76 ‐0.48 ‐0.12 0.40 0.016 E Q1 1.00 0.01 ‐0.76 0.38 YEAR 2014 2015 2016 2017

1 2 3 4 5 6 7 8 9 10

Change ‐8% ‐3676% 0%

6,810,186 6,315,887 4,855,273 4,509,460 3,222,926 3,053,826 2,855,614 2,636,724 2,557,296 2,148,500

Dec 16 3% ‐6% 19


Top 10 Holders (Shares Held) ROYAL BANK OF CANADA JARISLOWSKY FRASER LIMITED BANK OF MONTREAL BARROW HANLEY MEWHINNEY & STRAUS DONADEO LORENZO TORONTO‐DOMINION BANK POWER CORP OF CANADA CANADIAN IMPERIAL BANK OF COMMER VANGUARD GROUP CARRERA INVESTMENTS

Dec 16 62% 64% 338 117 88 43 25



Q4 167.21 ‐7.92 162.37 N/A

Mar 17 0.38 1.46 37% 2% 27% 244

BLOOMBERG BEST ESTIMATES ‐ EBITDA Q2 Q3 246.50 211.44 143.70 ‐9.17 125.24 134.42 151.27 N/A

Dec 16 ‐0.03 1.36 ‐21% ‐2% 3% 247

Q1 258.37 93.47 70.54 143.33

Sep 16 ‐0.12 1.30 ‐8% ‐6% ‐2% 233

YEAR 2014 2015 2016 2017

Jun 16 ‐0.48 1.07 ‐42% ‐5% ‐12% 222

Q4 280.11 239.20 246.81 305 E

Mar 16 ‐0.76 0.66 ‐31% ‐5% 7% 192

BLOOMBERG BEST ESTIMATES ‐ REVENUE Q1 Q2 Q3 357.16 358.67 315.69 251.30 238.81 179.46 191.85 222.00 233.22 243.55 259.00 268 E

Dec 15 ‐1.26 1.48 ‐47% ‐1% ‐15% 239

YEAR 2014 2015 2016 2017




0

500

1000

1500

2000

2500

3000

Jun 17 46% 0.22 13% 1.53 ‐0.11

Estimates

Financial Details


Trading Data

Stock Price

Quarter

Corporate

Vermilion Energy Inc. is a Calgary, Alberta‐based international oil and gas producer. Vermilion adheres to a value creation strategy through the execution of full cycle exploration and production programs focused on the acquisition, exploration, development and optimization of producing properties in North America, Europe and Australia.

Vermilion Energy Inc

Vermilion Energy Inc

SPX

115

Jun 17 0.40 1.07 28% 4% 17% 259


Ticker: WLL

Exchange: New York

0

10

20

30

40

50

60

70

80

90

100


‐‐ ‐‐

‐‐



Financial Details

8.37

61.95

4,365K

2011 4.18 10.16 42% 17% 25% 1868.90

‐‐ ‐‐

‐‐ ‐‐ ‐‐ 10.77

2,040K 52.60 73.18

2013 3.09 14.75 21% 14% 25% 2664.59

CLOSE PRICE

8.95

159.23

1,780K

2012 3.51 11.92 31% 13% 15% 2140.05

‐‐ ‐‐

‐‐ ‐‐ 7.00

1,338K ‐13.71 ‐79.78

2015 ‐11.35 5.38 ‐143% ‐5% ‐31% 2092.48

200D MAVG

9.77

2,274K 15.89 ‐43.68

2014 0.53 14.86 5% 11% 14% 3024.62

1,825K ‐13.13 ‐72.28 50.87 ‐90.32 4.95

2016 ‐5.32 2.36 ‐111% ‐13% ‐39% 1284.98

50D MAVG

Corporate


Float: 362.70 MM


SPX


Q4 ‐2.69 ‐0.48 ‐0.59 ‐0.175 E

BLOOMBERG BEST ESTIMATES ‐ EPS Q2 Q3 1.27 1.33 ‐0.73 ‐9.14 ‐1.33 ‐2.47 ‐0.18 ‐0.202 E Q1 0.92 ‐0.63 ‐0.84 ‐0.24 YEAR 2014 2015 2016 2017

1 2 3 4 5 6 7 8 9 10

Change ‐25% ‐100% ‐15%

27,919,350 21,315,605 18,077,394 14,711,254 13,886,140 12,614,955 12,455,948 12,081,581 11,699,500 11,443,152

Dec 16 1% 0% 17


Top 10 Holders (Shares Held) VANGUARD GROUP DIMENSIONAL FUND ADVISORS LP HOTCHKIS & WILEY CAPITAL MGMT BLACKROCK FINE CAPITAL PARTNERS LP GOLDMAN SACHS GROUP INC FMR LLC MILLENNIUM MANAGEMENT LLC BLUE RIDGE CAPITAL LLC LOOMIS SAYLES & COMPANY LP

Dec 16 107% 108% 451 157 93 101 113



Q4 ‐329.95 166.00 139.72 265.75 E

Mar 17 ‐0.24 0.22 ‐34% ‐9% 28% 371

BLOOMBERG BEST ESTIMATES ‐ EBITDA Q2 Q3 576.91 544.83 283.10 ‐2271.30 146.63 ‐46.94 160.08 222.583 E

Dec 16 ‐0.59 0.80 ‐129% ‐11% ‐18% 343

Q1 478.92 187.40 71.02 199.48

Sep 16 ‐2.47 0.54 ‐106% ‐13% ‐37% 316

YEAR 2014 2015 2016 2017

Jun 16 ‐1.33 0.71 ‐122% ‐9% ‐48% 337

Q4 672.55 417.95 342.70 443.2 E

Mar 16 ‐0.84 0.22 ‐82% ‐6% ‐44% 290


Dec 15 ‐0.48 0.74 ‐35% ‐5% ‐38% 418

YEAR 2014 2015 2016 2017




0

500

1000

1500

2000

2500

3000

Jun 17 40% N/A 10% 2.46 ‐1.13

Jun 17 ‐0.18 0.31 ‐33% ‐7% ‐8% 312

Whiting Petroleum Corporation is an independent exploration and production company with an oil focused asset base. The Company holds acreage positions in the Bakken/Three Forks resource play in the Williston Basin of North Dakota and Montana as well as in the oil prone sweet spot of the eastern DJ Basin of Colorado.

Whiting Petroleum Corporation

Whiting Petroleum Corporation

Estimates

Annual

Trading Data

Stock Price


116 SPX

Domicile: Tulsa, OK

Ticker: WPX

Exchange: New York


Float: 397.60 MM


Annual

‐0.03

‐‐ ‐‐ ‐‐ ‐‐ ‐‐ ‐‐

‐‐

‐1.40

‐68.41

3,385K

2015 ‐7.42 3.46 ‐135% ‐12% ‐36% 1888.00

200D MAVG

‐0.54

5,613K

2014 0.81 5.28 7% ‐2% 16% 2934.00

‐‐ ‐‐

‐‐

‐1.36

‐2.08

2,463K

2016 ‐2.05 0.84 ‐135% ‐6% ‐63% 693.00

50D MAVG

SPX


3000

Mar 17 37% N/A 11% 1.74 0.14

1000

500

0

10

5

0

1 2 3 4 5 6 7 8 9 10

Change 9% ‐102% ‐15%

33,142,308 32,202,448 20,440,468 13,914,702 13,419,044 12,120,239 12,092,358 11,792,073 10,766,519 10,146,141

Dec 16 1% 0% 17


Top 10 Holders (Shares Held) VANGUARD GROUP BLACKROCK POINT72 CITADEL ADVISORS LLC STATE STREET CORP SHAPIRO CAPITAL MANAGEMENT LLC GOLDMAN SACHS GROUP INC WELLINGTON MANAGEMENT GROUP LLP TIAA‐CREF FMR LLC

Dec 16 100% 101% 474 162 132 60 68


Ownership Change ‐4% ‐4% ‐3% ‐10% 20% ‐34% ‐6%

Q4 1.10 ‐5.59 ‐0.51 ‐0.107 E

BLOOMBERG BEST ESTIMATES ‐ EPS Q2 Q3 ‐0.66 0.30 ‐0.14 ‐0.93 ‐0.68 ‐0.72 ‐0.149 E ‐0.132 E Q1 0.09 0.33 ‐0.06 0.23 YEAR 2014 2015 2016 2017

Mar 17 0.23 0.06 27% ‐6% 58% 461

Q4 152.00 ‐2077.00 ‐64.00 199.25 E

Dec 16 ‐0.51 0.45 ‐306% ‐7% ‐82% 88

BLOOMBERG BEST ESTIMATES ‐ EBITDA Q2 Q3 17.00 197.00 485.00 275.00 87.00 ‐151.00 149.667 E 168.375 E

Sep 16 ‐0.72 0.07 ‐139% ‐8% ‐38% 251

Q1 276.00 359.00 327.00 317.00

Jun 16 ‐0.68 0.23 ‐98% ‐10% 1% 361

YEAR 2014 2015 2016 2017

Mar 16 ‐0.06 0.06 12% ‐8% ‐35% 292

Q4 672.00 495.00 88.00 366.667 E

Dec 15 ‐5.59 0.66 ‐484% ‐4% ‐26% 495


Sep 15 ‐0.93 0.79 ‐24% ‐4% ‐38% 407

YEAR 2014 2015 2016 2017




1500

15

2000

CLOSE PRICE

‐0.26

‐‐ ‐‐ ‐‐ ‐‐ ‐‐

2013 ‐5.91 3.17 ‐68% ‐10% ‐20% 2538.00

20

0.00

‐‐ ‐‐ ‐‐ ‐‐ ‐‐

2012 ‐1.12 3.99 ‐11% ‐2% ‐19% 3157.00

2500

‐‐ ‐‐ ‐‐ ‐‐ ‐‐

2011 ‐1.53 6.12 ‐6% 2% ‐4% 3892.00 Corporate

25

30




Estimates

Financial Details


Trading Data

Stock Price

Quarter

WPX Energy Inc. is an independent natural gas and oil exploration and production company. WPX has posted double‐digit oil volume growth each of the past five years. The Company is active in the Delaware, Williston and San Juan basins. The Delaware Basin is the western portion of the greater Permian Basin.

WPX Energy Inc

WPX Energy Inc

SPX

117

Exchange: New York

0 12/16/2016

2

4

6

8

10

12

14

16

18


‐‐ ‐‐ ‐‐ ‐‐ ‐‐ ‐‐



Financial Details

2011 ‐‐ ‐‐ ‐‐ ‐‐ ‐‐ ‐‐

‐‐ ‐‐ ‐‐ ‐‐ ‐‐ ‐‐

‐‐ ‐‐ ‐‐ ‐‐ ‐‐ ‐‐

CLOSE PRICE

2012 ‐‐ ‐‐ ‐‐ ‐‐ ‐‐ ‐‐

‐‐ ‐‐ ‐‐ ‐‐ ‐‐ ‐‐

‐‐ ‐‐ ‐‐ ‐‐ ‐‐ ‐‐

2015 ‐‐ ‐‐ ‐38% ‐9% 108% 86.34

200D MAVG

2014 ‐‐ ‐‐ ‐35% ‐‐ ‐‐ 41.51

3/16/2017

2013 ‐‐ ‐‐ ‐‐ ‐‐ ‐‐ ‐‐

‐‐ ‐‐ ‐‐ ‐‐ ‐‐ ‐‐

2016 ‐0.11 0.24 ‐41% 1% 47% 127.34

50D MAVG

Corporate


Float: 93.99 MM


6/16/2017

SPX


Dec 15 ‐‐ ‐‐ ‐‐ ‐‐ ‐‐ ‐‐

Mar 16 ‐‐ ‐‐ ‐‐ ‐‐ ‐‐ ‐‐

Jun 16 ‐‐ ‐‐ ‐‐ ‐‐ ‐‐ ‐‐

Sep 16 ‐‐ ‐‐ ‐‐ ‐‐ ‐‐ ‐‐

Mar 17 0.22 0.30 59% ‐‐ ‐‐ 54

1 2 3 4 5 6 7 8 9 10

Change N/A N/A N/A

50,154,273 21,200,084 5,009,346 1,931,240 1,729,097 1,657,480 1,466,625 1,235,526 1,021,879 1,000,000

Dec 16 1% 0% 6


Top 10 Holders (Shares Held) GFW ENERGY XI LP GFW ENERGY VII LP BOSTON PARTNERS TIMESSQUARE CAPITAL MANAGEMENT JVL ADVISORS LLC RANGER INVESTMENT MANAGEMENT LP VANGUARD GROUP ZIMMER PARTNERS LP WELLINGTON MANAGEMENT GROUP LLP NORGES BANK

Dec 16 0% 0% 0 0 0 0 0



Q4 N/A N/A ‐0.11 0.259 E

BLOOMBERG BEST ESTIMATES ‐ EPS Q2 Q3 N/A N/A N/A N/A 0.09 E 0.014 E 0.064 E 0.143 E Q1 N/A N/A 3.08 E 0.22 YEAR 2014 2015 2016 2017

Ownership

Q4 N/A N/A 18.27 119.733 E

BLOOMBERG BEST ESTIMATES ‐ EBITDA Q2 Q3 N/A N/A N/A N/A N/A N/A 48.617 E 89.6 E

Q4 N/A N/A 39.26 153.333 E

Dec 16 ‐0.11 ‐0.02 ‐60% ‐‐ ‐‐ 39

Q1 N/A N/A N/A 32.50

BLOOMBERG BEST ESTIMATES ‐ REVENUE Q1 Q2 Q3 N/A N/A N/A N/A N/A N/A 26.1 E 26.1 E 32 E 54.29 68.217 E 113.817 E

Sep 15 ‐‐ ‐‐ ‐‐ ‐‐ ‐‐ ‐‐

YEAR 2014 2015 2016 2017

YEAR 2014 2015 2016 2017




0

500

1000

1500

2000

2500

3000

Mar 17 19% N/A 8% N/A N/A

WildHorse Resource Development Corporation operates as an independent oil and natural gas company. The Company focuses on the acquisition, exploitation, development, and production of oil, natural gas, and natural gas liquids resources. WildHorse Resource Development properties are located in East Texas and North Louisiana.

Ticker: WRD

WildHorse Resource Development Corporation

WildHorse Resource Development CorporatioDomicile: Houston, TX

Annual

Trading Data

Stock Price

Quarter Estimates Estimates Estimates Institution Inside

118 SPX

august 13 – 17, 2017 westin hotel | denver, co. - The Oil & Gas

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