Integrity • Urgency • Ownership • Alignment • Innovation

Dave Wilkins, Senior Vice President, Hilcorp Alaska

Alyeska Leadership Presentation – February 14, 2018

Hilcorp Alaska Workforce

Year End 2012

255 Employees

96% Alaska Residents

Year End 2013

316 Employees

97% Alaska Residents

Year End 2014

505 Employees

88% Alaska Residents

Year End 2015

515 Employees

89% Alaska Residents

Year End 2016

502 Employees

88% Alaska Residents

Year End 2017

517 Employees

89% Alaska Residents

Hilcorp Alaska (HAK)

Who are We?

• Map here

Cook Inlet

Operations

Hilcorp Alaska (HAK)

Who are We?

• Map here

North Slope

Operations

Hilcorp Cook Inlet Basin Gross Gas Production 2012-2018

205,490 MCFD

Hilcorp North Slope and Cook Inlet Oil Production 2012-2018

53,070 BOPD

Hilcorp North Slope and Cook Inlet Net BOED Production 2012-2018

55,928 net

BOEPD

Moose Pad – Q4 2018 (+15,000 BOPD)

Liberty – Q4 2022 (+70,000 BOPD)

Hilcorp Net Production

Milne Point: Moose Pad

• First new pad at Milne Point since

2002

• 50-70 wells

• First production ~ November 2018

• Peak production 16,000 BOPD in

2020

• Estimated 30-50 MMBO EUR

(Estimated Ultimate Recovery)

Milne Point: Polymer Flooding

Injector Producer

• FIRST EVER polymer flood implemented on the Slope

• Estimated 50% Increased Recovery

• 30 MMBO- 50 MMBO opportunity

Liberty Project

70,000+ BOPD Peak Production

$1 Billion+ Investment

Modeled after proven technology

20-30 Years Field Life

OOOGURUK ISLAND NIKAITCHUQ ISLAND NORTHSTAR ISLAND ENDICOTT LIBERTY ISLANDOperated by: CaelusConstructed in 2007Island Surface: 6 acresWater Depth: 4.5 feetSubsea Pipeline: 5.7 miles

Operated by: HilcorpConstructed in 2000Island Surface: 7 acresWater Depth: 40 feetSubsea Pipeline: 6 miles

Operated by: HilcorpConstructed in 1987Island Surface: 45 acresWater Depth: ~4 feetSubsea Pipeline: none

Operated by: ENI PetroleumConstructed in 2011Island Surface: 11 acresWater Depth: 8 feetSubsea Pipeline: 3.8 miles

Operated by: HilcorpConstruction: tbd - 2019Island Surface: 9.3 acresWater Depth: 19 feetSubsea Pipeline: 5.6 miles