Tecolote Energy Announces Record Oil Rate and Longest Horizontal Lateral in the Western Anadarko Basin

Tecolote Energy, LLC, a private oil and gas exploration and production
company based in Tulsa, OK, announced today results from recently
completed wells. The announcement includes the highest reported oil
production rate from a well in Hemphill County, TX and the longest
horizontal lateral drilled to date in the Western Anadarko Basin.

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The Tecolote Energy, LLC operated Mathers State 172-156 CL EX 1H
extended lateral well was completed in the Cleveland formation and
achieved the highest reported oil production rate from a well in
Hemphill County, TX. The well produced at a 30-day initial production
rate of 2,439 barrels of oil equivalent per day of which 84% of the
production is comprised of oil and natural gas liquids. The well is the
longest horizontal lateral drilled to date in the Western Anadarko
Basin. The well was drilled to a total depth of 21,529 feet with 12,592
feet of horizontal displacement. Production rates on a 24-hour basis
reached 2,815 barrels of oil equivalent per day of which 1,332 barrels
were oil. The well produced a cumulative volume of 35,015 barrels of oil
in thirty days.

In addition, the Tecolote Energy, LLC operated Mathers 1518-165 MD EX 1H
extended lateral well was completed in the Granite Wash Marmaton ‘D’
formation and achieved a 30-day initial production rate of 1,934 barrels
of oil equivalent per day of which 58% of the production is comprised of
oil and natural gas liquids. The extended lateral horizontal well was
completed in 7,257 feet of pay and reached a 24-hour initial production
rate of 2,320 barrels of oil equivalent per day.

“We are extremely pleased with the outstanding results of our first two
extended laterals on our Texas Panhandle acreage position,” said Maurice
Storm, Tecolote Energy President and CEO. “We are preparing to complete
four additional extended laterals, two of which are in excess of 10,000
feet and two that are in excess of 7,500 feet. We expect to see similar
results with high flow rates of oil and liquids rich gas as we continue
to demonstrate the excellent economics and productivity of our 210,000
acre HBP position in the Western Anadarko Basin.”

About Tecolote Energy, LLC:

Tecolote Energy, LLC is a private oil and gas company with offices in
Tulsa, OK and Canadian, TX. Tecolote Energy, LLC was formed in 2015 with
capital from the management team and NGP, a premier private equity firm
in energy capital management. Tecolote Energy, LLC is focused on
applying extended lateral drilling technology and modern completion
technology on their 210,000 net acres in the prolific stacked
hydro-carbon reservoirs in the Western Anadarko Basin.

About NGP:

Founded in 1988, NGP is a premier private equity firm in the natural
resources industry with approximately $17 billion of cumulative equity
commitments organized to make strategic investments in the energy and
natural resources sectors. For more information visit www.ngpenergycapital.com.

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