content_image/1049523.jpg content_image/1049524.jpg content_image/1049525.jpg
<img src='content_image/1049523.jpg'>

(1) Includes 32.6 MMBbl of oil, 62.6 Bcf of natural gas and 11.6 MMBbl of NGLs reserves attributable to noncontrolling interests. Additionally, $557.4 million of PV-10 and $530.2 million of standardized measure of discounted future net cash flows were attributable to noncontrolling interests. 

(2) Barrels of oil equivalent have been calculated on the basis of six thousand cubic feet (Mcf) of natural gas equal to one barrel of oil equivalent (BOE). 

## Non-GAAP Reconciliation 

PV-10 is a non-GAAP measure that differs from a measure under GAAP known as “standardized measure of discounted future net cash flows” in that PV-10 is calculated without including future income taxes. Management believes that the presentation of the PV-10 value of its oil and natural gas properties is relevant and useful to investors because it presents the estimated discounted future net cash flows attributable to our estimated proved reserves independent of our income tax attributes, thereby isolating the intrinsic value of the estimated future cash flows attributable to our reserves. We believe the use of a pre-tax measure provides greater comparability of assets when evaluating companies because the timing and quantification of future income taxes is dependent on company-specific factors, many of which are difficult to determine. For these reasons, management uses and believes that the industry generally uses the PV-10 measure in evaluating and comparing acquisition candidates and assessing the potential rate of return on investments in oil and natural gas properties. PV-10 does not necessarily represent the fair market value of oil and natural gas properties. PV-10 is not a measure of financial or operational performance under GAAP, nor should it be considered in isolation or as a substitute for the standardized measure of discounted future net cash flows as defined under GAAP. 

The table below provides a reconciliation of PV-10 to the standardized measure of discounted future net cash flows ( in thousands ): 

<img src='content_image/1049524.jpg'>

(1) Includes $557.4 million attributable to noncontrolling interests. 

(2) Includes $530.2 million attributable to noncontrolling interests. 

## Drilled But Uncompleted Wells 

In order to achieve efficiencies from a pricing and logistics standpoint, our customary sequence of drilling and completion operations is to drill a group of wells and defer completion operations until all drilling operations for the group are concluded and then commence completion activities. See activities related to wells included in our proved developed reserves subsequent to December 31, 2018 below. 

<img src='content_image/1049525.jpg'>

## Reserve Quantity Information 

The following table illustrates our estimated net proved reserves, including changes, and proved developed and proved undeveloped reserves for the periods indicated. The oil prices as of December 31, 2018 and 2017, are based on the respective 12-month 

