state of new mexico oil conservation division llc...

STATE OF NEW MEXICO ENERGY, MINERALS AND NATURAL RESOURCES DEPARTMENT

OIL CONSERVATION DIVISION

APPLICATION OF ANSCHUTZ OIL COMPANY, LLC FOR COMPULSORY POOLING AND AN UNORTHODOX OIL WELL LOCATION, RIO ARRIBA COUNTY, NEW MEXICO. Case No. 15,234

VERIFIED STATEMENT OF DEIDRE O'CALLAGHAN

Deidre O'Callaghan, being duly sworn, upon her oath, deposes and states:

1. I am a senior landman for Anschutz Oil Company, LLC ("Anschutz") and have personal knowledge of the matters stated herein.

2. I have not previously been qualified as an expert petroleum landman by the Division. My educational and employment background is as follows: I received a bachelor of science degree in Energy Resources Management from Lamar University in Beaumont Texas. I have worked in the energy industry since 1980, in the positions of landman, gas marketing and business development, beginning as a landman with Amoco Production Company in Houston, Texas and later in Amoco's Denver office. I have been most recently employed as a senior landman with Savant Resources, LLC in Denver from 2003 to 2010, and have been employed as senior landman with Anschutz Exploration Corporation and Anschutz Oil Company, LLC since 2010.

3. Pursuant to NMAC 19.15.4.12.A(1), the following information is submitted in support of the application filed herein:

(a) No opposition is expected because the working interest owners being pooled have been contacted regarding the proposed well and several owners have not yet decided whether to join in the well. In several cases, the working interest owner has elected to participate in the drilling of the well or to farmout its interest, but an Operating Agreement or a Farmout Agreement has not yet been finalized. If working interest owners subsequently decide to join in the well we will notify the Division.

(b) Applicant proposes to drill its Regina Com. 25-2-14-15 Well No. IH, to a depth sufficient to test the Mancos formation (Gavilan-Mancos Pool), and has dedicated the W/2 of Section 14 and all of Section 15, Township 25 North, Range 2 West, N.M.P.M., to the well to form a non-standard 960 acre spacing and proration unit for any formations and/or pools developed on 640 acre spacing within that vertical extent. The Gavilan-Mancos Pool (pool code 27194) has special pool rules providing for 640 acre well units and wells to be located no closer than 790 feet to a section line.

Oil Conservation Divisi Case No. i /<"! Exhibit No.

(c) A plat outlining the unit being pooled is attached hereto as Attachment A. The non-standard oil well unit (project area) was previously approved by Division Administrative Order NSP-1974.

(d) Anschutz seeks an order pooling all working interest owners in the W/2 of Section 14 and all of Section 15. The well is a horizontal well, to be drilled from a surface location in the NW/4NE/4 of Section 14, with a terminus in the NW/4NW/4 of Section 15. The beginning of the producing interval will be approximately 830 feet from the north line and 2310 feet from the west line of Section 14, to a terminus 830 feet from the north line and 330 feet from the west line of Section 15. The location is unorthodox under the special rules and regulations for the Gavilan-Mancos Pool.

(e) The original location of the well, depicted on Attachment A, has changed. The reason for the location change is to reduce the amount of surface disturbance, at the request of the surface owner and tenant, to improve access to the location and to reduce the surface location costs. Attached hereto as Attachment B are plats showing the surface relief and length of the onginal access road. Attached hereto as Attachment C are plats depicting the revised surface location and wellbore.

(f) The parties being pooled, their working interests in the well unit, and their last known addresses, are reflected on Attachment D. These addresses are current and correct.

(g) Copies of the proposal letters sent to the uncommitted working interest owners are attached hereto as Attachment E. We have also had telephone discussions and/or e-mails with these parties, but have been unable to reach final agreement with them.

(h) Anschutz is the successor operator to Hunt Oil Company of the well and well unit. Hunt had previously proposed the well to the working interest owners, so they have been aware of the proposed drilling of the well for over 12 months.

(i) Applicant has made a good faith effort to obtain the voluntary joinder of all interest owners in the well.

(j) Pursuant to Division rules, applicant requests that a 200% risk charge be assessed against any non-consenting working interest owner.

(k) A copy of the Authority for Expenditure for the well is attached hereto as Attachment R The drilling and completion costs set forth therein are fair and reasonable, and are comparable to those of other wells of this depth drilled in this area of Rio Arriba County.

(1) Overhead charges of $10,500.00/month for a drilling well, and $l,500.00/month for a producing well, are requested. These rates are fair and reasonable, and are in line with rates charged by other operators in this area for wells of this depth. Applicant also

2

requests thai the order contain a provision adjusting the rates pursuant to the COPAS accounting procedure.

(m) Applicant requests that it be designated operator of the well.

(n) The offset operators or working interest owners are listed on Attachment G.

4. The granting of this application is in the interests of conservation and the prevention of waste.

VERIFICATION

CITY AND COUNTY OF DENVER ) ) ss.

COUNTY OF COLORADO )

Deidre O'Callaghan. being duly sworn upon his oath, deposes and states that: She is a senior landman for Anschutz Oil Company; she is authorized to make this verification on its behalf; she has read the foregoing statement, and knows the contents thereof; and the same is true and correct to the best of her knowledge, information, and belief.

deidre O'Callaghan (J

SUBSCRIBED AND SWORN TO before me this / & day of November, 2014 by Deidre O'Callaghan.

My Commission Expire J ' Notary Public

KAREN S.ftMRTtN NOTARY PUBLIC

STA7fi G? COLORADO NOTARY ii) 20054016147

MY COMMISSION EXPIRES JUNE 1 2017

3

»

»lci*s. IM 88240 Fax: (575) 393-0720

D i s t r i c t I 1625 N. French Drive. Phone: (575) 393-6161 O i s t r i c t I I 811 S. F i r s t St reet . Arleaia. W-l 88210 Phone: (575) 748-1283 Far. (575) 74B-9720 Oistrict I I I 1000 Rio 8ratos RoarL Actec. M 87410 Phone: (505) 334-6178 Fax: (505) 334-6170 O i s t r i c t IV 1220 S. S t . Francis Or ive. Santa Fe. NM 07505 Frone (505) 476-3460 rox:('j05) 476-3462

State of New Mexico Energy. Minerals G Natural Resources Department

OIL CONSERVATION DIVISION i220 South St. Francis Drive

Santa Fe, NM 87505

Form C-102 He v ised A'jgust I. 2011

Submit one copy to Appropr ia te O i s t r i c t O f f i ce

• AMENDED REPORT

RECSVH NOV 04 2013

WELL LOCATION AND ACREAGE DEDICATION PLAT 'API Ni/Toer 'Poo l Code •Pool Name | •tiOTnffsOKWi 1 l(»KJ 1 PHKj6

27194 GAVTLAN MfeVO&tOf Ulfltl \MW**M\ 'Proper ty Code "Property Nana

REGINA COM 25-2-14-15 •Well M/noer

IH ~TOGRiO NO.

10825 "Operator K&ie

HUNT OTI COMPANY 'E levat ion

7394'

•I ftl

,0Surface Location

J Sec t i on

14 T o t a l O p

25N ia. n

2W l e t l o t Frit mm It*

1443 M r u v V u U i ) k n

SOUTH F e l t I n n u . .

226? fc-*jl/«sl 11,-0

EAST Court* RIO

ARRIBA 1 1 Bottom Hole Location I f Dif ferent From Surface

U. or let ro.

L Section

15 25N R j n p

2W Lot Ion Feet I m i U o

2023 >to-1>/South l i r a

SOUTH r u t trtn u*

462 C u t / W r i t l i n o

WEST C t m t s

RIO ARRIBA

• (MMM .ox. ggQ Q A c r e s

W/2 Section 14 S Ent i re Section 15

° a > l m o r I n f i l l " C o - w o l l a M l e n Cod* " O-rSo- Nt.

NO ALLOWABLE WILL BE ASSIGNED TO THIS COMPLETION UNTIL ALL INTERESTS JIAVC BEEN CONSOLIDATED OR A NON-STANDARD UNIT HAS BEEN APPROVED BY THE DIVISION

(PLCoroi MflW 264132'

f!a9'JOV7V 2640 24 (ytnsuPED)

N89 59 W 264132 ' N89 "24 "j J Ti 264237 '

MrASJfleo;

WEcoro) N89-59V 2642.31'

N69'29'47H 2642.06' (MEASUntO)

462 ' -15 —

n e q - s e s w 1309.6'

A499"24 59-k* 263fl60' K99-54V 2643.96'

(PECCRO)

ENO-OF-LATERAL 2023' FSL 462" FM.

SECTION 15. /"2SW. R2W LJU: 36 39625 N

LONG. }07.Q4<S2B 'H DATUM: NAO 1927

LAX: 36.39626 'N LONG: 107.04487'ti

DATUM NAO 1903

(MhASWED) A'fiy "2S 07 Tj 2639 32

K89-54 V 2643.36' (WECXW;

MpaMV f.W39W 2642.31'

MB'JBVIIf 2633.87-(tEASURK))

1

1

24 66 ' -14

2262 '

M» '31 55 V 5280 J?7>EASW¥o; KFSr 5283.30 (t€COW)

8 SB

POINT-OF-ENTRY 2023- FSL 2486' FM. SECTION 14. T25N. R2H

LAT: 36.39623 'N LONG 107.01946 H

DATUM NA01927

LAT: 36.39624 "N LONG: 107.02006 H

DATUM NA01983

SURFACE LOCATION 1443' FSL 2262 FEL SECTION 14. 725N. R2H

LAT: 36.39463 'N LONG 107.01766'H

DATUM NA01927

LAT: 36.39465 'N LONG 107.01825 V

MUM NAO 1983

OPERATOR CERTIFICATION I hereby c e r t i f y t r o t t t c ln forwal lcn contained he re in I s t r ue end c o - p j e t i to the best of t y knowledge ar i l be l i e f , and that t h i s crf lonizat lon e i t h e r oxre .. working Interest or unleased n l n e r o l nl I In the la rd i r c l od i f r j the V ^ r o i t x j bo t to - i bole locat ion on has a r i g h t t o d r i l l t h i s K e l l e t t h i s locat ion pursuant t o o con t rac t w i t h an ovrer o l such a mineral

working in te res t , o r t o .a voluntary pool ing • n p e a n l O K a c p u r a x T i . p o o l i n g order l « re t c , f o r ^ / sn te red^ *yJ r rS d i v i s i on .

"SURVEYOR CERTIFICATION 1 hereby c e r t i f y thot tha wel l locat ion siiown on l i t i s p l a t was p lo t t ed i ron f i e l d notes of ac tua l surveys trade by r e o r under w.f supe rv i s i on erd thot t re sate, i s trus - • I co r rec t t o the t e s t of r.y b e l i e f .

Oate of Survev: JUNE 19. 2013

Signslura ard Seel of Professional mnw/tr

C e r t i f i c a t e Nurroer 15263

Q(UQAJAC P&ZMt'ffcb UxL/Vn^i

HUNT OIL MPANY REGINA COM 25-2- r-15 #1H 1443' F5L I 2 2 6 2 ' FEL, SECTION 14, T25N, R2H, N.M.P.M.

RIO ARRIBA COUNTY, NEW MEXICO

MAC OF raFO M4P : OJITO ^ PRODUCING WELL 8 PLUGGED £ ABANDONED WELL

C\(tQ A<AU. spc^w^r _ DZ.\Q*lArL fit^itflb ^cC^f)ol —

HUNT OIL COMPANY REGMA COM25-2-14-15 #1H PROPOSED PWEUNE SURVEY LOCATED IN THE

W/2 E/2 OF SECTION 14, T25N9 R2Wf NMPM RIO ARRIBA COUNTY, NEW MEXICO

F O U N D © L O

3 R A S S C A P

F O U N D H I 6 & L O

3 S A S 6 C A P

NS«I"5qVM 2 6 4 2 3 1 ' f R E C 0 R U >

f- iS'H*2M , 'S7-tN 2 6 4 2 . B & ' ( M E A S U R E D ) Ii

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2 6 3 3 A T ( M E A S U R E D )

M C E L V A I N BADGER COM l * «!

WELLHEAD

BAO&ER COM l*» " 2 $ K£LU J EAU

PJ6 i6-2"i.3 I6 'M133*RT PROPOSED ROAD flS" ?T/*

ROAD (15' RT,*

SK ' , i e l 33*E 9<TT.-0'

Pi". 30 - IB .6

PROPOSED ROAD [IS' RT;

352*30 '2&>J 6 0 S * ' PWQ ?-.0-qa.l M ' O ^ S & ' L T PROPOSED ROAD (15- RTJ

£•16-2532 "W 211.46' RM 03'0-Vt5-RT 5NT&R PROPOSED f C U - F A D PROPOSED ROAD fJ5' P.T)

EWD-Or-SURVPV O STA 95-153 H;!iT RE&INA COM 25-2-1-4-15 »1H (-CLLFLACi i***3' 1=51. 23 f t2 ' FEL. SeCVTION 14, T25N, R2H

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T i g T O «7aMF;S2 O F SECT«>M I I S b l ' O l ' l O ' E abOS-D"'

N e q " 3 l " 5 5 " r S 5 2 & 0 3 2 ' ( f r E A S U R E D j l ^ C S T 5 3 3 3 . 3 0 ' ( R E C O R D j

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r 'QUHD 11)6 6 L O

B R A S S C A P

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FOUND l<3l£ & L O

B R A S S C A P

Fc~ SURFACE DWMER : Emt?&: Wfilfoms

0*<90 TO 3 5 - 1 5 3 3515.3 FT / 213.0 ROPS

Jason -C. Edwards, a registered Professional Surveyor under the !B»S of ths State of NEW Mexico, hereoy certify that nhis plat was prepared from field notes of en actuel survey meeting ine minimum requirements of the standards for easement surveys and is true and correct to the bsst of my knovtledge ana belief.

Jdson C, Bdvidrds. P.L.5. New Mexico L.S. #15269

Oate: ^iy 31 2013

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it 2 E D

Lajad Smveyor: Jason C. Edwards M.ailicg Address: Fosl Office Box 6612 Fannington. NM 87499 33uaineas Address: HI Easl Pinoa Sawt Fenningcra, NM 87402 (5(^325-2654 (Office) (50S) 326-5650 (Fw>

URVEYS, INC

4> PRODUCING WELL NAME OF TOPO MAP . OJITO 8> PLUGGED & ABANDONED WELL

^60 At- ac/'.v K^t""

D i s t r i c t I 1625 N. French Dr ive. HOD&S. NM Ptaie: (575) 3S3-5161 Fax; (575) 393-0720 D i s t r i c t I I 311 3. F i r s i S t ree t . A r tes ia . W 88210 Ptr jrs: ;575) 748- IS83 Fax: (575) 7J8-9720

D i s t r i c t I I I 1000 aid Brazos Roaa Aztec, NM 87430 Priori; (505) 33/1-6178 Fax: (505) 354-6170

District IV 1220 S. S t . Franc is Dr ive . Santa Fe. NM S7505 Prions; (505) 476-3460 Fax: (505) 175-3^52

State of New Mexico Energy, Minerals S Natural Resources Department

OIL CONSERVATION DIVISION 1220 South St. Francis Drive

Santa Fe. NM 87505

Form CMOS Revised August 1. £011

Submit one copy tc Appropriate D i s t r i c t Office

Q AMENDED REPORT

WELL LOCATION AND ACREAGE DEDICATION PLAT 'API Number 'Pool Code

JPcol Name

271Q4 CAVILAN MANCOS

"Property Coce Property Marre 'Well Njtsc-er

REGINA COM 25-2-14-15 IH

'OGRIO No. 'Operator Name •Elevation

ANSCHUTZ EXPLORATION CORPORATION 7306' 1 0Surface Location

Lf. C- ]CI TO.

B

Srctlcfi

14 T Duron IB

25N Hsnge

2W LD; l m 1 Koet !n jn t i e

1070

jortn/SOutn line

NORTH Frat frora trm

2333 East/west Ime

EAST RIO ARRIBA

1 3 Bottorn Hole Location I f D i f fe rent From Surface W_ or lot ro .

D Seciitn

15 25N Hargo

2W Lot r« i Feet f T n L IB

830 lertn/Souin l i re

NORTH 330 East/West i f *

WEST RIO ARRIBA

» « x , t « « r « g 6 0 0 A c r e s

W/2 Section \A S Ent i re Section 15

" . K i n t i v i n f i l l "CorcoliOatinn Cot* n 0oder No.

NO ALLOWABLE WILL BE ASSIGNED TO THIS COMPLETION UNTIL ALL INTERESTS HAVE BEEN CONSOLIDATED OR A NON-STANDARD UNIT HAS BEEN APPROVED BY THE DIVISION

ENO-OF-LATERAL 830' FNL 330' FIvL

SECTION 15. T25N, R2W LAT: 36.40291 'N

LONG- 107.04471 Ty DATUM: NA01927

LAT: 36.40293 7v LuNG: 107.04533 FW

DATUM: mO1983

IRECOPO! KE9-59W 2541.32-

HB9-3Q V7 W 2640.24-(l-EASVRED)

POINT-OF-ENTRY 830- FNL 2315' FWL

SECTION 14, T25N. R3U LAT: 36.40209 'N

LOMG: 107.02005'H DATUM: NAD1927

LAT: 36.40290 'N LONG: 107.02065 •»

DATUM: NAD 1983

(PECOfW! NO '01 Vf £640.00 1

NO '27V3E 2639.46-(I4EASURED)

(RECORD) NB9 '59 W 2541.32'

NB9 '24'lfW 2642.37-(MEASURED)

(RECOROI NB9 '59 V 2642.31'

N89'29'47~N 254235' (MEASURED)

SURFACE LOCATION 1070- FNL 23831 FEL SECT mi U. T25N. R2H

LAT: 36.40223 IV LONG: 307.01303 *W

DATUM: NA0S927

LAT: 36.40224 -,V LONG: 107.01857 "ii

DATUM: NAD1983

(RECORD) «SS*59W 2642.31 •

N89'32-4Q"W 2633.87-(HEA5URED)

1 7 OPERATOR C E R T I F I C A T I O N 1 nsretjy cert i fy that tne information containaa herein is true and cccolets to the best of my knowledge and tielief, arc tret this or 93-11; af.cn eitrier ours • wording interest or uileaseo niinera] interest in f<e land incJ^Oing tre proooseo bcttom-fwle location cr ras e r-g.it to d r i l l tnis well at this location pLxs'jant to o contract with an cwner of sx t i a m i t r a l or working interest, cr to s voluntary ocoling agreement or a conuuisrjry Pooling crcer rteretafore enterec Oy the njvisicn.

(MEA5URSD} K89'241j9W 9638.60-

N39 •54 V 2543.96' iPECCW

(MEASURED) NW&WN 2639.32-

N83 S4 TV £643.36 ' (RECORD)

N89'31S5~W 5280.32' (VEASVFEO) WEST 5283.30'(P5C0RQ1

SignnUre

Printeo Mare

E-oeil AOJress aSURVEYOR CERTIFICATION

I nereay certify that 'JIB well jobation shown on tr.is ular uas plat tec frwi tiela notes actual surveys ciaae by or amer my supervision, and tnat tre same is true ana correct tc the aesc of belief.

Oate Revised: OCTOBER 24. 2014 Survey Oate: OCTOBER 15, 2014 Signature and Ssst of Professional Skrvexr

C e r t i f i c a t e Number 15259

4 u)6tL&£>RJL

ANSCHUTZ EXPLORATION REGMA COM25-2-14-15'#1H PROPOSED PIPELINE SURVEY LOCATED IN THE

NW/4 NE/4 OF SECTION 14, T25N9 R2W9 NMPM RIO ARRIBA COUNTY, NEW MEXICO

FOUND l<*t& CLO

BRAS5 CAP

IO

15

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P 04

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N&=T5q'W 2642 .31 ' (RECORD) 1 1 N W 2 « T 4 - i " W 2 6 4 2 . B 6 ' (MEASURED;

POUND FOUND 1316 CLO |qi6 6 L O

BRASS CAP S R A 5 5 CAP

N&^°5^ 'H 2642 .31 ' (RECORD) N f i q ^ ^ O " ) ^ 2 6 3 3 . & T (MEASURED;

14

II

14

McELVAIN BADGER COM 14 »l

VNELl.HKAD 4

15 <>

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TIE TO NORTH 1/4 CORNER SECTION 14 N i2 °44 , 05 'M !01S.4a '

END-OF-SURVEY o STA "iOO.a. ANSCHUTZ RESINA 25-2- (4 - (5 IH hIELLFLAtS \010- FNL, 2 3 5 3 1 FEL, SECTION 14, T25N, R2W

N 5 3 * 3 f i 2 ' W 245.65 ' FI3 6*55 2 fl2*54'OI"RT

ENTER PROPOSED WELLPAD PROPOSED ROAD f l5' RTJ

S43 0 26 '4T i W &oq.33 '

P12 0*45.q iq°5335"LT

PROPOSED ROAD CIS' R1J S63*20 '22 ' , W 2 6 3 3 1

PII C M 3 3 62°32 , 3T 'RT

PROPOSED ROAJ? (25' RT)

S£50*4T45"W 14.21' BEGIN SURVEY o STA O-OO i ia .6 1 f~; FROM ENTERPRISE BADGER COM 14 " 2

TIE FROM NE CORNER OF SECTION 14 S6" f ' 34 , 3o"H i£>q3.^-r

E.L. RJNDIN&LAND &. DUNHAM «s?

DRYHOLE

McELVAIN B A D G E R C O M 14 «2

{£• WELLHEAD

METER-OUT

14 O 13

KMiO OPERATING KOONS "I WELLHEAD

Mc EL VAIN BADGES. COM |A U2A

HELLKSAD

2 3 N&q°3[ '55 , 'H 5 2 & 0 . 3 2 ' ("MEASURED) WEST 5 2 & 3 . 3 0 ' 'RECORDJ

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FOUND

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FOUND 1316 CLO

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FEE SURFACE OWER : Ernest nWWoms

0 * 0 0 TO q+OO.q ^ 0 0 < \ FT / 54.6 RODS

I, Jason c. Edwards, a registered Professional Surveyor under the laws of the State of New Mexico, hereoy c e r t i f y thai this plat was prepared from f i e l d notes of an actual survey meeting the minimum requirements of the standards for easement surveys and is true and correct to the Pest of my knowledge and b e l i e f .

JASOJ C. SWARDS J3san C. Edwards, P.L.S.

New Mexico LS. #15259

Date: October 24. 2014

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LEEC Surveyoi: JascmC. Edwards

Mailing Address: Post Office Bos 6612 Fairamgten, NM 87499

Business Address: 111 East Pinoa Street Fannmgjoa, MM 87402 (505) 325-2654 (Office) (505) 326-5650 (Fax)

.VEYS, INC

ANSCHUTZ EXPLORATIONREGINA COM 25-2-14-15 #1H 1O709 FNL & 2383* FEL, SECTION 14, T25N, R2W, NMPM

MIO ARRIBA COUNTY, NEW MEXICO ELEVATION: 7306' LAT: 36.4Q224°N LONG: 2§7.01867°W DATUM: NAD1983

F4 (3)

F4

EDtSE OF TOTAL DISTURBANCE ("MARKED WITH STEEL T-POST5J

2 0 0 '

Cl

Area of WeWpad

5.74 Acree

saq°E 2oo' LAYDOHN

Hellhead lo front

LU D >il

50 y IN OL 0

F 2

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EL76E O F T O T A L DISTURBANCE - SO' WIDE ( M A R K E D WITH STEEL T-POSTS.)

GRAPHIC SCALE \" = &0'

C4

CD «

C 2

FEE SURFACE OWNER ~

Ernest Williams

§IM Wo S® ffugw© fomm s®H 11® t&sfc® ddJg© ©i? ©a itoLTfl©® [fat® wltofkglhi w SCi* ©toft tenro ©ff wsDflpiti.

Attachment D

Samson Resources Company

370 17th Street, Suite 3000

Denver, CO 80202

Williams Production Company

1 Williams Center, Mail Drop 44

Tulsa, OK 74172

Attn: Chuck Bassett

Working Interest: 2.343750%

Attn: Lauren Ross


Brazos Limited Partnership

P.O. Box 911

Breckenridge, TX 76424-0911

Attn: Lorie Hill


KAB Acquisitions LLLP, VIII


Denver, CO 80202

Attn: Ken Breightenbach


Ibex Partnership

P.O. Box 911


Attn: Lorie Hill


Pikes Peak Resources, LLC

2961S. Fillmore Way

Denver, CO 80210

Attn: Hunt Walker


Riva Oil and Gas, LLC

62117th Street, Suite 1040

Denver, CO 80293

Attn: Jim Fullerton


Chevron North America Exploration and

Production Company

1400 Smith Street

Houston, TX 77002

Attn: Brian Derr


Attachment E

O I L C O M P A N Y , L L C

555 SEVENTEENTH STREET • SUITE 2400 • DENVER, COLORADO 80202 • 303 296-1000 • FAX 303 239-1510

November5, 2014


Ibex Partnership Ltd.

c/o Breck Operating Corp.

P.O. Box 911


Attn: Ms. Lorie Hill

Re: Operating Agreement

Regina Com 25-2-14-15-1H Well

Rio Arriba County, NM

Dear Lorie:

Thank you for your prompt response to Anschutz's well proposal dated October 17, 2014. As discussed in the

well proposal letters, I have prepared an operating agreement to govern the drilling of the above referenced

well. Enclosed for your review are two originals of the proposed Operating Agreement. If this agreement meets

with your approval, please execute it and have it acknowledged in the spaces tagged on the attached, retain a

fully executed original for your files and return one fully executed original to my attention.

Please note that the working interest percentages on Exhibit A to the JOA have not been fitted in, pending

receipt of elections from all uncommitted working interest owners. According to our records, however, Brazos

and Ibex each own a 1.951091% working interest in the spacing unit for the above reference well.

We are working now to bring a rig in to drill the well, and hope to commence operations on or before December

1, 2014, with the goal of avoiding drilling during the teeth of the winter!

Thank you,

Deidre O'Callaghan

Senior Landman

Enclosures

RECEIVED

BRAZOS LIMITED PARTNERSHIP PIOV % 2014 P.O. BOX 911

BRECKENRIDGE, TEXA5 76424-0911

254-559-3355

October 30,2014

Anschutz Exploration Corporation 555 Seventeenth Street, Suite 2400 Denver, CO S0202

Attn: Deidre O'Callaghan

Re: Regina25-2-14-15-lH Rio Arriba Co., NM

Dear Ms. O'Callaghan:

Enclosed please find executed Letter Agreements, A.F.E.S and Well Data Requirement sheets for the drilling and completion of the above captioned well. There are documents for both Ibex Partnership, Ltd. and Brazos Limited Partnership. Hard copies will follow.

Please let us know whether Anschutz's well control insurance covers interest owners. If not we will put it on our policy.

Sincerely,

Belinda Lawler Production Clerk

BL/s Enclosures Cc: Land File #25450

MAIN OFFICE FAX 254-559-3220 PRODUCTION FAX 254-559-7066

A * * t ! P " EXPLORATION CORPORATION

555 Seventeenth Street • Suite 2400 • Denver, Colorado 80202 • Telephone 303/298-1000 • Fax 303/299-1518

^ October 17,2014

Ibex Partnership

P.O. Box 911


Attn: Lorie Hill

254-559-3355

Re: Regina 25-2-14-15-1H Well

T25N-R2W, W/2 Section 14 and All Section 15


Ladies and Gentlemen:

It is Anschutz's understanding that Hunt Oil Company has previously proposed the drilling of the subject

well to you, and that you indicated a desire to participate in the drilling of the well. Subsequently,

Anschutz and Hunt have entered into an Exploration Agreement under which Anschutz will now operate

the well.

Therefore, Anschutz Oii Company hereby proposes the drilling and completion of the above referenced

horizontal well (the "Well") to an approximate total measured depth of 14,714' (7,534' total vertical

depth) to test the Ojito Formation within the Mancos Group. Completion is designed as a multi-stage

frac in the target formation. The estimated completed well cost is $9.99 million as detailed within the

attached Authority for Expenditure ("AFE"). The costs set forth in the attached AFE are estimates and

actual costs may be higher or lower.

The spacing unit for this well is 960 acres, comprised of the W/2 Section 14 and all of Section 15,T25N-

R2W. This spacing unit is a non-standard proration unit approved under the State of New Mexico

Energy, Minerals and Natural Resources Department Administrative Order NSP-1974, Administrative

Application Reference No. pPRG1329162766 dated January 31, 2014. According to our title information,

Ibex Partnership owns a working interest of approximately 1.951091% in the 960 acre spacing unit.

Please indicate your election to participate or not participate in the drilling of this well, by signing and

dating the appropriate space below, and if your election is to participate, please also sign and return the

enclosed AFE. If your election is to participate, we will provide you with a JOA on the AAPL1989 model

form with Horizontal Modifications for your review and signature. In the event that you are not

interested in participating in the drilling of this well, please contact the undersigned to discuss other

options in connection with your interest in the spacing unit and well (i.e., farmout, term assignment, or

entering into a JOA providing for a 300% non-consent penalty). Anschutz is working under a tight

deadline to drill this well, and hopes to keep costs down by commencing operations as soon as possible

to avoid winter conditions to the greatest extent possible, therefore, we will appreciate your prompt

response to this notice. Please respond by October 31, 2014 if at all possible.

Please feel free to call me if you should have any questions, or if I can be of assistance to you in any way.

Sincerely,

I/We elect to participate in the drilling and completion of the Regina Com 25-2-14-15-

1H Well, enclosed is the executed AFE.

I/We elect not to participate in the drilling and completion of the Regina Com 25-2-14-

15-1H Well. I/We would like to consider an option to farmout or enter into a term assignment or joint

operating agreement in connection with my/our interest in the well and associated spacing unit.

Ibex Partnership, Ltd. ty: BtBck Opsrstirg QjcgJ Graa l Bartrca:

Signature:

Name: Title: V.P. CEetctttens

Date: jefzJZ (~Zr>l *f.


S55 SEVENTEENTH STREET « SUITE 2400 • DENVER, COLORADO 80202 • 303 298-1000 • FAX 303 299-1518

October 30, 2014


410 17 t h Street, Suite 1151

Denver, CO 80202

Attn: Mr. Ken Breightenbach

Re: Operating Agreement

Regina Com 25-2-14-15-1H Well


Thank you for your prompt response to Anschutz's well proposal dated October 17, 2014. As discussed in the

well proposal letters, I have prepared an operating agreement to govern the drilling of the above referenced

well. Enclosed for your review are two originals of the proposed Operating Agreement. If this agreement meets

with your approval, please execute it and have it acknowledged in the spaces tagged on the attached, retain a

fully executed original for your files and return one fully executed original to my attention.

Please note that the working interest percentages on Exhibit A to the JOA have not been filled in, pending

receipt of elections from all uncommitted working interest owners. After crediting the Margaret Hill Marital

Trust interest to KAB, our title information indicates that KAB owns a 3.59583% working interest in the spacing

unit for the above reference well.

We are working now to bring a rig in to drill the well, and hope to commence operations before the end of

November, with the goal of avoiding drilling during the teeth of the winterl

Dear Ken:

Thank you,

Deidre O'Callaghan

Senior Landman

Enclosures

/ / / / / —

EXPLORATION CORPORATION

555 Seventeenth Street • Suite 2400 • Denver, Colorado 80202 • Telephone 303/298-1000 •

October 17,2014



Denver, CO 80202


303-534-4919








the well.

Therefore, Anschutz Oil Company hereby proposes the drilling and completion of the above referenced






The spacing unit for this well is 960 acres, comprised of the W/2 Section 14 and ail of Section 15, T25N-



Application Reference No. pPRG1329162766 dated January 31 , 2014. According to our title information,

KAB Acquisitions LLLP, VIII owns a working interest of approximately 1.217214% in the 960 acre spacing

unit.


dating the appropriate space below, and if your election Is to participate, please also sign and return the










Sincerely,

Senior Landman






KAB Acquisitions LLLP, VIM

Signature: Name: [ £ & ^ J * * b * ^ w ^ v ^ * < &

Title: f^tfuif-cl ^ f l t f W ^

Date: t°(<zWtW


555 SEVENTEENTH STREET • SUITE 2400 • OENVER. COLORADO 80202 • 303 298-1000 • FAX 303 299-1518

October 31, 2014

To: Working Interest Owners

See attached list for names, addresses and interests

VIA CERTIFIED MAIL

Re: Regina Com 25-2-14-15-1H Well

Spacing Unit: W/2 Section 14, All Section 15, T25N-R2W

Surface location: 1070' FNL and 2383' FEL, Section 14

Bottom hole location: 830' FNL and 330' FWL Section 15

T25N-R2W, Rio Arriba County, New Mexico


As noted in previous correspondence with each of the unleased minerals owners and uncommitted

working interest owners listed on the attached ("WI Owners"), Anschutz Oil Company, LLC ("AOC") has

entered into an agreement with Hunt Oil Company ("HOC") under which AOC will drill and operate the

above referenced well (the "Well"). Earlier this month, AOC provided each of the WI owners with an

AFE and a proposal to drill the Well. Several of the WI Owners have indicated that they wish to

participate in the drilling of the Well, and have been or will shortly be provided with a proposed

Operating Agreement for their review and signature. Several of the WI Owners have not yet provided

an election to participate, or have indicated an interest in entering into an alternate agreement in

connection with the Well, such as a farmout or term assignment, and negotiations for such alternate

agreements are ongoing.

AOC is working under a tight deadline, due to the timing requirements of various agreements affecting

the acreage in the spacing unit described above, and is in the process of contracting for a rig which may

be on location as early as November 21, 2014. AOC has filed an application for an order pooling all

interests in the Gavilan Mancos Pool underlying the above described spacing unit, a copy of which will

be mailed to you by separate letter. The hearing has been docketed for the November 20, 2014 hearing

of the New Mexico Oil Conservation Division.

While we anticipate that AOC will be able to reach an agreement with each of the WI Owners to either

participate in the drilling of the Well (and execute a mutually acceptable Operating Agreement

governing the drilling of the Well) or to negotiate an acceptable alternate agreement with non-

participating WI Owners, due to the tight deadlines associated with the drilling of the Well, AOC wants

all of the WI Owners to be aware of the compulsory pooling hearing scheduled for November 20, 2014.

We would like all of you to indicate your election, in writing, whether you desire to join in the well as

soon as possible.

Please feel free to call me at 303-299-1478 if you have any questions about this matter, or if I can be of

assistance to you in any way.

Sincerely,

Deidre O'Callaghan

Senior Landman

CC: Mr. James Bruce

P.O. Box 1056

Santa Fe, NM 87504



Denver, CO 80202

At tn: Lauren Ross



Tulsa, OK 74172

At tn: Chuck Bassett


P.O. Box 911


Attn: Lorie Hill



Denver, CO 80202


Ibex Partnership

P.O. Box 911


Attn: Lorie Hill

Legacy Trust Company, Trustee, Margaret Hunt Hill

Michael Bush Wisenbaker, Jr. Trust

2101 Cedar Springs, Suite 1800

Dallas, TX 75201

At tn: Susan Van Eaton


2961 S. Fillmore Way

Denver, CO 80210

Attn: Hunt Walker



Denver, CO 80293

Attn: Jim Fullerton

Chevron North America Exploration and

Production Company

1400 Smith Street

Houston, TX 77002

Attn: Brian Derr

Legacy Trust Company, Trustee, Margaret Hunt Hil

Wesley Hill Wisenbaker Trust


Dallas, TX 75201

Attn: Susan Van Eaton


Margretta Hill Wikert Trust


Dallas, TX 75201



Cody McArthur Wikert Trust


Dallas, TX 75201


W ^ P ' EXPLORATION CORPORATION


October 28, 2014

Chevron North America Exploration and Production Company

1400 Smith Street

Houston, TX 77002

Attn: Mr. Brian Derr

Landman




Dear Brian:


well to Chevron, and that Chevron indicated a desire to enter into a term assignment of its interest in

the SW of Section 14, T25N-R2W. It is our understanding that Hunt and Chevron were unable to reach

agreement on the form and substance of a term assignment after lengthy negotiations. Anschutz and

Hunt have recently entered into an Exploration Agreement under which Anschutz will now operate the

well.




frac in the target formation. The estimated completed well cost is $9.9 million, as detailed within the



The spacing unit for this well is 960 acres, comprised of the W/2 Section 14 and all of Section 15, T25N-




Chevron owns a working interest of approximately 4.1667%% in the 960 acre spacing unit.


dating the appropriate space below. In the event that you are not interested in participating in the

drilling of this well, please contact the undersigned to discuss other options in connection with your

interest in the spacing unit and well (i.e., farmout, term assignment, or entering into a JOA providing for

a non-consent penalty). Anschutz is working under a tight deadline to drill this well, and hopes to keep

costs down by commencing operations as soon as possible to avoid winter conditions to the greatest

extent possible, therefore, we will appreciate your prompt response to this notice. Please respond by

November 15, 2014 if at all possible.

Sincerely,

Deidre O'Callaghan

Senior landman

Chevron North America Exploration and Production Company elects to participate in

the drilling and completion of the Regina Com 25-2-14-15-1H Well, enclosed is the executed AFE.

Chevron North America Exploration and Production Company elects not to participate

in the drilling and completion of the Regina Com 25-2-14-15-1H Well. Chevron North America

Exploration and Production Company would like to consider an option to farmout or enter into a term

assignment or joint operating agreement in connection with its interest in the well and associated

spacing unit.

Chevron North America Exploration and Production Company

Signature:

Name:

Title: Date:

P " \ J M EXPLORATION CORPORATION


October 28, 2014

A. Kimbrough Davis, Successor Trustee, Margaret Hunt Hill - Albert G. Hill III Trust

Abrams, Davis, Mason, Long LLC

1100 Peachtree Street, Suite 1600

Atlanta, GA 30309

Re: Regina 25-2-14-15-1H Well T25N-R2W, W/2 Section 14 and All Section 15 Rio Arriba County, NM



well to Margaret Hunt Hill - Albert G. Hill III Trust, ("the Trust") and that the Trust indicated a desire to

participate in the drilling of the well. Subsequently, Anschutz and Hunt have entered into an Exploration

Agreement under which Anschutz will now operate the well. It is Anschutz's understanding that you are

the new Administrator of the Trust.











A. Kimbrough Davis, Successor Trustee, Margaret Hunt Hill - Albert G. Hill III Trust owns a working

interest of approximately 0.513826% in the 960 acre spacing unit.










response to this notice. Please respond by October 31,2014 if at all possible.


Sincerely,

Senior Landman






A. Kimbrough Davis, Successor Trustee, Margaret Hunt Hill -Albert G. Hill I)) Trust

Signature:

Name:

Title: Oate:

9 m V EXPLORATION CORPORATION


October 17, 2014

Regions Bank, Successor Trustee, Margaret Hunt Hill - Albert G. Hill HI Trust

c/o NRRE Ops Group, P.O. Box 11566

Birmingham, AL 35202

Attn: Trust Department



Rio Arriba County, WM





the well.











Regions Bank, Successor Trustee, Margaret Hunt Hill-Albert G. Hill HI Trust owns a working interest of

approximately 0.513826% in the 960 acre spacing unit.











Please feel free to call me if you should have any questions, or If I can be of assistance to you in any way.

Sincerely,

Deidre O'Callaghan

Senior Landman






Regions Bank, Successor Trustee, Margaret Hunt Hill - Albert G. Hill III Trust

Signature: Name:

Title:

Date:

EXPLORATION CORPORATION


October 17,2014


2961S. Fillmore Way

Denver, CO 80210

Attn: Hunt Walker

720-746-5015








the well.





attached Authority for Expenditure ("AFE"), The costs set forth in the attached AFE are estimates and


The spacing unit for this well is 960 acres, comprised of the W/2 Section 14 and all of Section 15,T25N-



Application Reference No. pPRG1329162766 dated January 31,2014. According to our title information.

Pikes Peak Resources, LLC owns a working interest of approximately 0.173611% in the 960 acre spacing

unit.



enclosed AFE. If your election is to participate, we wit! provide you with a JOA on the AAPL1989 model








Please feel free to call me if you should have any questions, or if I can be of assistance to you in anyway.

Sincerely,

Deidre O'Callaghan Senior Landman







Signature;

Name:

Title: Date:

mmmn • EXPLORATION CORPORATION 555 Seventeenth Street • Suite 2400 • Denver, Colorado 80202 • Telephone 303/298-1000 Fax 303/299-1518

October 17, 2014



Tulsa, OK 74172

Attn: Chuck Bassett

539-573-6575








the well.

Therefore, Anschutz OH Company hereby proposes the drilling and completion of the above referenced






The spacing unit for this well is 960 acres, comprised of the W/2 Section 14 and al! of Section 15, T25N-



Application Reference No. pPRG1329162766 dated January 31,2014. According to our title information,

Williams Production Company owns a working interest of approximately 2.343750% in the 960 acre

spacing unit.





interested in participating in the drilling of this well^ please contact the undersigned to discuss other







Sincerely,

Senior Landman

1/We elect to participate in the drilling and completion of the Regina Com 25-2-14-1S-






Signature:

Name:

Title: Date: .

' EXPLORATION CORPORATION


October 17, 2014



Denver, CO 80202

Attn: Lauren Ross

720-239-4378








the well.



depth) to test the Oj'ito Formation within the Mancos Group, Completion is designed as a multi-stage







Application Reference No. pPRG1329162766 dated January 31,2014. According to our title information,

Samson Resources Company owns a working interest of approximately 1.041667% in the 960 acre

spacing unit












Sincerely,

Senior Landman







Signature:

Name:

Title: Date:

A ~ S ^ " EXPLORATION CORPORATION


October 17, 2014



Denver, CO 80293

Attn: Jim Fullerton

303-534-4502

Re: Regina 25-2-14- 15-1H Well




It is AnschuU's understanding that Hunt Oil Company has previously proposed the drilling of the subject



the well.




frac in the target formation. The estimated completed welt cost is $9.99 million as detailed within the






Application Reference No. pPRGl329162766 dated January 31, 2014. According to our title information,

Riva Oil and Gas, LLC owns a working interest of approximately 0.173611% in the 960 acre spacing unit.












Sincerely,

Deidre O'Callaghan U

Senior Landman



l/We elect not to participate in the drilling and completion of the Regina Com 25-2-14-




Signature:

Name:

Title: ' Date:

1

Attachment F

BU/Job #:

Parent BU#:

Description:

2967

BU/Job Name: Regina Com 25-2-14-15

Date: October 15, 2014

Drill, complete and equip a 14,714' Ojito test (7180' lateral). Regina Com 25-2-14-15 Rio Arriba, NM

Drilling Completion Total Costs

Currently Previously Approved Requested Total

0 '4,821,451 4,821,451 0 3,901,747 3,901,747

$0 $8,723,198 $8,723,198

Costs above reflect Anschutz Oil Company WI share of the well. Gross estimated costs to drill, complete and equip well total $9,999M

Recommended by:

Date:

Mark Amundson Approved by: Ashley Tolbert Name: Gregg Randall AfCVL" Date:

Election Approved by: Print Name Title Company Date

Approved by: Name: Date:


Jo/epfi DeDominic; President and COO

~"Pe i"d re O' C al I ag h an"

U:\Wells\New Mexico\Regina Com\AFE\Long L a t e r a l EXTERNAL AFE\Rsgina Com 25-2-14-15 AFE 2014-10-15 EXTERNAL LONG LAT MOB,xlsx

BU/Job #: BU/Job Name: Regina Com 25-2-14-15

Parent BU#: 2967 Date: October 15,2014

PREVIOUSLY CURRENTLY ACCOUNT # DESCRIPTION APPROVED REQUESTED TOTAL

Intangible Drilling Costs 3530.00200 IDC- Allocated Labor 3530.00210 IDC- Alloc. Labor Burden - -3530.00220 IDC- Drill Bits 139,932 139,932 3530.00230 IDC- Casing Crews, Too 210,863 210,863 3530.00240 IDC- Cement, Cementing 200,797 200,797 3530.00250 IDC- Communications 2,250 2,250 3530.00260 IDC- Contract Drilling 1,029,000 1,029,000 3530.00270 IDC- Coring, Coreheads - -3530.00280 IDC- Directional Drill 448,784 448,784 3530.00290 IDC- Drillstem Testing - -3530.00300 IDC- Equipment Rental 503,770 503,770 3530.00310 IDC- Fuels, Lubricants 263,471 263,471 3530.00320 IDC- Inspect - Tubular 59,174 59,174 3530.00330 IDC- Insurance 317 317 3530.00340 IDC- Location, Road 350,000 350,000 3530.00350 IDC- Logging Downhole 85,000 85,000 3530.00360 IDC- Mobilization, Demobilization , 300,000 300,000 3530.00370 IDC- Mud logging 110,088 110,088

. 3530.00380 IDC- Mud, Chemicals 501,108 501,108 3530.00390 IDC- Other Intangible 293,869 293,869 3530.00400 IDC- Outside Operated -3530.00410 IDC- Overhead 7,375 7,375 3530.00420 IDC- Plug & Abandonment - -3530.00430 IDC- Product. Test -3530.00440 IDC- Surv, Prmts, Surf DMG 102,000 - 102,000 3530.00450 IDC- Taxes - -3530.00460 IDC- Third Party Supervision 221,127 221,127 3530.00470 IDC- Transportation 108,661 108,661 3530.00480 IDC- Vehicle Charges - -3530.00490 IDC- Water 12,162 12,162 3530.00500 IDC- Year End Well - -

Intangible Drilling Subtotal $102,000 $4,847,748 $4,949,748

Regina Com 25-2-14-15 AFE 2014-10-15 EXTERNADtiKIH»_3Ftap MOB.xIsx

BU/Job #: BU/Job Name: Regina Com 25-2-14-15

Parent BU#: 2967 Date: October 15, 2014

Location: Regina Com 25-2-14-15 County, State: Rio Arriba, NM

ILIiia&QiSlffiSjBg

ACCOUNT# DESCRIPTION

PREVIOUSLY APPROVED CURRENTLY REQUESTED TOTAL

Tangible Drilling Costs 3540.00600 TDC- Surface Casing 10,622 10.622 3540.00610 TDC- Inlermediate Casing 284.714 284.714 3540.00620 TDC- Well Head Equipment 42.000 42.000 3540.00630 TDC- Casing Head - -3540.00640 TDC- Production Casing 239,409 239.409 3540.00650 TDC- Outside Operated LW - -

Tangible Drilling Subtotal $0 $576,745 $576,745

* TOTAL SI 02,000 $5,424,493 $5,526,493

STATUSi_J__S^

Preliminary | ~ | Revised Q Final f j

^ ^ m m ^ : ^ m o ifcVjLSji;o;NwOj&_! WORKING INTEREST OWNER(S) BCP % ACP% Post comp %

Anschutz Gil Company 87.242514% 87.242514% 43.621257% Hunt Oil Company 0.000000% 0.000000% 43.621257% Petco Limited 1.951091% 1.951091% 1.951091% Ibex Partnership 1.95)081% 1.951091% 1.951091% bikes Peak Resources, LLC 0.173611% 0.173611% 0.173611% Miva Oil and Gas, LLC 0.173611% 0.173611% 0.173611% Williams Production 2.343750% 2.343750% 2.343750% KAB Acquisitions LLLP, VIII 1.217214% 1.217214% 1.217214% Margaret Hill Marital 1 rust 2.378620% 2.378620% 2.378620% Regions Bank, Successor 0.513826% 0.513826% 0.513826% Legacy Trust Company, Trustee. Margaret Hunt Hill • Michael Bush Wisenbaker, Jr. Trust 0.513668% 0.513668% 0.513668% LegacyTrust Company, Trustee, Margaret Hunt Hill -Wesley Hill Wisenbaker Trust 0.513668% 0.513668% 0.513368%

LegacyTrust Company, Trustee, Margaret Hunt Hill -Margretta Hill Wikert Trust 0.513668% 0.513668% 0.513668%

Legacy Trust Company, Trustee, Margaret Hunt Hill -Cody McAfthur Wikert Trust 0.513668% 0.513668% 0.513668%

TOTAL 100.000000% 100.000000% 100.000000%

Recommended by:

Date:

Mark Amundson Ashley Tolbert Gregg Randall





Saleri Bgeflyfefe, VP Ops & Eng

Jrfseph/DeDominic; President and COO

HJeidre O'callaghan C J

Regina Com 25-2-14-15 AFE 2014-10-15 EXTERNAL LONG LAT MOB.xlaTtril ling Page 2

BU/Job #:

Parent BU#:


2967 Date: October 15, 2014

ACCOUNT # DESCRIPTION PREVIOUSLY APPROVED

CURRENTLY REQUESTED TOTAL

Intangible Completion Costs 3550.00700 Allocated Labor - -3550.00710 Allocated Labor Burden - -3550.00720 Bits & Reamers 70,000 70,000 3550.00730 Casing Crews, Tools 40,000 40,000

3550.00740 Cement, Cementing - -3550.00750 Communications - -3550.00760 Contract Drilling 213,000 213,000 3550.00770 Drillstem Testing - -3550.00780 Equipment Rental 185,000 185,000 3550.00790 Fuels, Lubricants 15,000 15,000

3550.00800 Inspect - Tubular 10,000 10,000 3550.00810 Insurance - -3550.00820 Locations, Road 15,000 15,000

3550.00830 Logging, Downhole 242,000 242,000 3550.00840 Mobilization, Demobilization 14,000 14,000

3550.00850 Mud, Chemicals 30,000 30,000

3550.00860 Other Intangible 210,000 210,000

3550.00870 Outside Operated - -3550.00880 Overhead 4,300 4,300

3550.00890 Plug & Abandonment - -3550.00900 Production Test, Pressure Survey 75,000 75,000

3550.00910 Stimulation 2,600,000 2,600,000 3550.00920 Surv, Prmts, Surf DMG - -3550.00930 Taxes - -3550.00940 Third Party Supervision 57,000 57,000

3550.00950 Transportation 36,000 36,000 3550.00960 Vehicle Charqes - -3550.00970 Water 120,000 120,000

Intangible Completion Subtotal $0 $3,936,300 $3,936,300

Regina Com 25-2-14-15 AFE 2014-10-15 EXTERNAL0^j^tirM"hM9e.Wsx

BU/Job #:

Parent B(J#:

Location:


2967 Date: October 15, 2014

Regina Com 25-2-14-15 County, State: Rio Arriba, NM

PREVIOUSLY ACCOUNT # DESCRIPTION APPROVED

CURRENTLY REQUESTED TOTAL

Tangible Completion Costs

3560.01100 Artificial lift Equipment 182,500 182,500

3560.01110 Battery & Production 165,000 165,000

3560.01120 Buildings 25,000 25,000

3560.01130 Flowlines, Fittings 25,000 25,000

3560.01140 Gas Sales Facility & Comp. - -3560.01150 Install, Trans of Lease 35.000 35.000

3560.01160 Miscellaneous Equipment 10,000 10,000

3560.01170 Outside Operated Comp. - -3560.01180 Pipelines -3560.01190 Production Casing - -3560.01200 Tubing, Subsurtace Prod. 60,500 60,500

3560.01210 Wellhead Equipment 33,000 33,000 Tangible Completion Subtotal $0 $536,000 $536,000

TOTAL SO $4,472,300 $4,472,300

Preliminary P H Revised Final •

WORKING INTEREST OWNERfSI BCP % ACP% Post comp % Anschutz Oil Company 87.242514% 87.242514% 43.621257% Hunt Oil Company 0.000000% 0.000000% 43.621257% Petco Limited 1.951091% 1.951091% 1.951091% Ibex Partnership 1.951091% 1.951091% 1.951091% Hikes Peak Resources, LLC 0.173611% 0.173611% 0.173611% Riva Oil and Uas. LLC 0.173611% 0.173611% 0.173611% Williams Production Company 2.343750% 2.343750% 2.343750% KAB Acquisitions LLLP, VIII 1.217214% 1.217214% 1.217214% Margaret Hill Marital ,1 rust 2.378620% 2.378620% 2.378620% Reqions Bank, Successor Trustee. Margaret Hunt Hill - Albert G. Hill III Trust 0.513826% 0.513826% 0.513826% Legacy Trust Company. Trustee, Margaret Hunt Hill - Michael Bush Wisenbaker,. 0.513668% 0.513668% 0.513668% Legacy Trust Company. Trustee, Margaret Hunt Hill - Wesley Hill Wisenbaker Tru 0.513668% 0.513668% 0.513668% LegacyTrust Company, Trustee, Margaret Hunt Hill - Margretta Hill Wikert Trust 0.513668% 0.513668% 0.513668% Legacy Trust Company, Trustee, Margaret Hunt Hill - Cody McArthur Wikert Trusi 0.513668% 0.513668% 0.513668%

TOTAL TOTAL 100.000000% 100.000000% 100.000000%

Recommended by:

Date:

Mark Amundson Ashley Tolbert Gregg Randall





oseph DeDominic; President and COO

"Deidre O'calTaghan

Regina Com 25-2-14-15 AFE 2014-10-15 EXTERNAL LONG LAT MBSuilelion Page 2

BU/Job #:

Parent BUM:

0

2967

BU/Job Name:

Date:

Regina Com 25-2-14-15

10/15/2014

Well Name:

Prospect Name;

Estimated Spud Dale:

Estimated Completion Date:

Operator:

Regina Com 25-2-14-15

SJ8

AEC

County, State: Rio Arriba, NM

Basin/Trend Opto

Location:

Operating Agt Dated:

•COSTS 'AND l E X R E N S E S ^ S K ^ ^ ' & j S S S S e S r a (to ba; SaSj.^iSS NON. CONSENTS P E N A L - T M ^

fc$3&te&m»Ato be determinedRMftK! ^EXPENDITURE ^ ^ • ' ^ ^ f { ^ & M g S

Prebllling Allowed n/a

Interest Rate n/a

n/a % Surface

n/a % Subsurface

W/0 Approval n/a

AFE Approval n/a

S O ^ E R ^ ^ ^ ^ ^ ^ ^ ^ ^ ^ I ^ ^ ^ ^ T ^ ^ t t o J b o j

Drilling: S 10.000.00

Production: S 1,000 00

EFFECTIVE:

Percent: Total Coat MS: Percent ot:

5.00% S100.000.00

3,00% S100.000.00*

2.00% $1,000,000.00+

REVISED

m PRELIMINARY [ST

EFFECTIVE DATE (Must be Completed) - SPUD DATE

FINAL

Anschutz OH Company 87.242514% 87.242514%

Hunt Oi l Company

1900 N . Afcard St rust, Dallas,

TX 75201-2300 0.000000% 0.000000% 43.621257%

P c c c o L i m i t e d B r e c k e n r i d g s , TX 7 6 4 2 4 - 0 9 1 1 1-9S1O910* 1 . 9 5 1 0 9 1 0 * 1 . 9 5 1 0 9 1 0 *

I b e x P a r t n e r s h i p B r e c k e n r i d g e , TX 7 6 4 2 4 - 0 9 1 1 1 - 9 5 1 0 9 1 0 * 1 . 9 5 1 0 9 1 0 * 1 . 9510910%

P i k e s Peak R e e o u r c e o , LLC 2961 S. Fill more Way,

Denver, CO 3(3210 0 - I 7 . 1 6 1 I . v t 3 . 1 7 3 6 1 1 0 1 0 . 1 7 3 6 1 1 0 *

R i v a O i l a n d a a 3 , LLC S u i t e 1 0 4 0 . D e n v e r , CO 8 0 2 9 3 0 .1736110% 0 . 1 7 3 6 1 1 0 * 0 . 1 7 5 6 1 1 0 *

W i l l i a m s P r o d u c t i o n Comoanv 2 . 3 4 3 7 5 0 0 V 2 . 3 4 3 7 5 0 0 * 2 . 2 4 3 7 5 0 0 %

KAB A c q u i s i t i o n s L L L P . V I I I

S u i t e 1 I S . 1 , D e n v e r , CO 8 0 2 0 2 1 .2172140% 1 . 2 1 7 2 1 4 0 * 1 . 2 1 7 2 1 4 0 1

M a r g a r e t H i l l M a r i t a l T r u a t

s u i t e 1 1 5 1 , D e n v e r , CO 90202 2 - 3 7 8 6 2 0 0 * 2 . 1 7 8 6 2 0 0 V 2 . 3 7 8 6 2 0 0 *

R e g i o n s B a n k , S u c c e s s o r T r u s t e e , M a r g a r e t H u n t H i l l - A l b o r t G. H i l l I I I

c / o NRRE Ops G r o u p , P . O . BOX 1 1 5 6 6 , B i r m i n g h a m . AL 3 5 2 0 2 0 . 5 1 3 9 2 6 0 1 0 . 5 1 3 8 2 6 0 * 0 . 5 1 3 B 2 6 0 1

L e g a c y T r u s t Company, T r u s t e e . M a r g a r e t : H u n t H i l l - M i c h a e l Bush

a i u i f e t t e r s p r i n g s . S u i t e 1 8 0 0 , D a l l a s , TX 7 5 2 0 1 0 . 5 1 3 6 6 8 0 * 0 . 5 1 3 6 6 8 0 * 0 . 5 1 3 6 6 8 0 *

L e g a c y T r u o t Company. T r u s t e e , M a r g a r e t H u n t H i l l - W e s l e y H i l l

2 1 0 1 C e d a r S p r i n g s , S u i t e 1 8 0 0 , D a l l a s , TX 7 5 2 0 1 0 . 5 1 3 6 6 8 0 * 0 . 5 1 3 6 6 8 0 * 0 . 5 1 3 6 6 8 0 *

L e g a c y T r u a t Company, T r u s t e e , M a r g a r e t H u n t H i l l - M a r g r e t t a H i l l

2 1 0 1 C e d a r S p r i n g e , S u i t e 1 8 0 0 , D a l l a s , TX 7 5 2 0 1 0 . 5 1 3 6 6 8 0 4 0 . 5 1 3 6 6 H 0 * 0 . 5 1 3 5 6 8 0 *

L e g a c y T r u 3 t Company, T r u s t e e , M a r g a r e t H u n t H i l l - C o d y H c A r t f t u r

2 1 0 1 C e d a r S p r i n g s , S u i t e 1 8 0 0 , D a l l a s , TX 7 5 2 0 1 0 . 5 1 3 6 6 8 0 * O.S126S80* 0 .513SS8O*

100.000000% 100.000000% 100.CX)0000%

Is W e l l i n a Tax P a r t n e r s h i p ?

A c c o u n t i n g P r o c e d u r e ;

Yes

E m p l o y e * B e n e f i t s L i m i t :

~ Why: HOC carried interest

Other Spec ia l P r o v i s i o n s :

Prepared by: Deidre O'Callaqhan Approved Bv: Prepared by: Name:

Date: Dale:

JDE Input by: Approved by: JDE Input by: Name:

Date: Date:

Offset Operators

Section 16

McElvain Energy, Inc.

Section 9


Section 11


E/2 Section 28

Williams Production Company WPX Energy, LLC Arriba Company LLC

Attachmenl

state of new mexico oil conservation division llc...

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