News

Record Full-Year Revenues; Record High Quarterly Production

Expected to be immediately accretive to distributable cash flow per unit, includes core position in the Delaware Basin, expected to increase daily production by 19% to 15,790 Boe/d[1] and to generate estimated cash G&A savings of 18% per Boe

Eagle Ford Shale; Oil-Focused Production Mix; Two Rigs Actively Drilling

Record High Production Exceeds High End of Q3 2019 Production Guidance

No Material Federal Income Taxes Expected to Be Paid by Company for Next Seven Years (2019 to 2025); Substantially All Distributions Paid to Common Unitholders for Next Four Years (2019 to 2022) Not Expected to Be Taxable Dividend Income; Less Than 25% of Distributions Paid to Common Unitholders for Subsequent Three Years (2023 to 2025) Expected to Be Taxable Dividend Income

Company Achieves Record High Production of 11,958 Boe/d(1) with Phillips Assets

Daily production has more than tripled since IPO; proved developed reserves increased by 118% year-over-year

Announces Simultaneous Closing of Series A Cumulative Convertible Preferred Units Offering and Upsized Revolving Credit Facility

Acquisition immediately accretive to distributable cash flow, increases production by more than 50% on a per unit basis and generates estimated G&A savings of 50% per Boe on a run-rate basis

Executes Agreement to Sell Small Portion of Acreage in the Delaware Basin