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Reconciliations of Non-GAAP Financial Measures to GAAP


We disclose financial measures that are not presented according to United States generally accepted accounting principles (GAAP), as well as measures of potentially recoverable hydrocarbons that may not be permitted to be disclosed in filings made with the Securities and Exchange Commission (SEC) and inventories of drilling locations. While we believe these measures are useful to investors and use them for internal analysis of our business, they are not substitutes for GAAP measures or proved reserves measures made in accordance with SEC rules.  We reconcile the following measures to GAAP and discuss important considerations with respect to other measures here, including:


·       Adjusted Net Income (Loss)

·       Adjusted EBITDA Hedged and Unhedged and Adjusted EBITDA per Boe

·       Levered Free Cash Flow

·       Adjusted General and Administrative Expenses

·       Cash Return on Invested Capital (CROIC)

·       PV-10


Other Important Measures


·       Reserves and PV-10

·       Reserves Replacement Ratio

·       Resources and other non-Proved Reserves Measures