Extraction Oil & Gas ^{Priced, Nasdaq: XOG}

We are an independent oil and gas company focused on the acquisition, development and production of oil, natural gas and natural gas liquid reserves in the Rocky Mountains, primarily in the Wattenberg Field of the Denver-Julesburg Basin of Colorado. The Wattenberg Field has been producing since the 1970s and is a premier North American oil and natural gas basin characterized by high recoveries relative to drilling and completion costs, high initial production rates, long reserve life and multiple stacked producing horizons. We have assembled, as of September 30, 2016, approximately 100,000 net acres of large, contiguous acreage blocks in some of the most productive areas of the Wattenberg Field as indicated by the results of our horizontal drilling program and the results of offset operators. These properties have extensive production histories, high drilling success rates, and significant horizontal development potential. We believe our acreage in the Wattenberg Field has been significantly delineated by our own drilling success and by the success of offset operators, providing confidence that our inventory is relatively low-risk, repeatable and will continue to generate economic returns. We are primarily focused on growing our proved reserves and production primarily through the development of our large inventory of identified liquids-rich horizontal drilling locations in the Wattenberg Field.