Franklin

Company Overview

• Franklin Mountain Energy is an oil and gas company that has been actively developing its position in the Delaware Basin since 2018.

Operational Footprint

• The company operates on approximately 32,000 net acres in the Delaware Basin, with 98% of these acres being operated by Franklin Mountain itself.

Well Development and Production

• Franklin Mountain has executed on 144 wells in the basin since its initial acreage acquisition. Recently, they brought online an 18-well project known as the Gunbarrel project, targeting intervals such as the Third Bone Spring and Wolfcamp A.
• The company's production averages 50,000 barrels of oil equivalent per day (boe/d), with 73% of this being oil and an overall liquids content of 85%.

Drilling and Completion Efficiencies

• Franklin Mountain has achieved significant efficiencies in drilling and completion operations. They have drilled 75 miles and completed 34 miles during the Gunbarrel project, setting records in the process.
• The company emphasizes the use of recycled water and dual fuel, among other innovative practices.

Infrastructure and Midstream

• Franklin Mountain ensures that all midstream pieces and critical infrastructure are in place before initiating an operated drilling program. This approach ensures that production is only limited by the wellhead choke.

Financial Performance

• The company boasts strong financial metrics, including an EBITDA margin that is about 70% higher than that of five comparable rivals in the Permian Basin at $50/bbl.
• Franklin Mountain is focused on achieving a strong return on investment, highlighted by their recycler ratio and overall financial performance.

Leadership and Strategy

• The company's success is attributed to its core values of creativity, patience, conviction, and flexibility. This is reflected in transformative trades and acquisitions that have expanded their operated footprint.
• Franklin Mountain is proactive in measuring its performance against independent data, noting that they rank third in average 12-month cumulative oil production across all basins and operators according to Novi Labs.

Environmental, Social, and Governance (ESG) Commitment

• While specific ESG metrics are not detailed, the company emphasizes its commitment to running a business that not only delivers strong operational results but also maintains high ESG standards.

By focusing on these aspects, Franklin Mountain Energy demonstrates a robust and efficient operation in the Delaware Basin, combining strong technical execution with sound financial management and a commitment to sustainability.