HEADINGTON ENERGY PARTNERS, LLC
MCKINNEY, TX

with extensive experience in engineering, geoscience, operations, asset management, exploration and business development. Today HEP operates approximately 200 wells and manages interests in more than 3,000 non-operated properties. The HEP team provides an experienced, balanced management and technical approach to safely create value while consistently ensuring integrity in all of its business relationships. The company’s growth strategy is to create value by exploring and developing our existing asset base while expanding our operations within South Texas and lower Gulf Coast, the Permian Basin, Mid-Continent, Williston and other prospective growth areas in the domestic U.S. HEP is seeking out and evaluating acquisition and joint venture opportunities targeting the exploration and development of quality assets within these and other areas. The company will continue to focus on maximizing the rates of return through comprehensive reservoir and geologic understanding coupled with the application of best available technologies and operational practices to unlock value through effective appraisal, exploration, development and management of the assets. Our values make up the fabric of our company. They represent a way of life and a way of conducting business that guides the behavior of our employees and all of our actions. We are forthright and honest in all of our business relationships. We are accountable for our actions. Headington Energy Partners, LLC (HEP) is a new entity established to operate and manage the co-founders’ oil and gas assets while pursuing growth strategies through acquisitions and joint venture opportunities. The majority of the HEP team were long-term employees of Headington Oil Company. Beginning in 1988, Tim Headington initiated a strategy of pursuing reserve growth through acquisitions -- primarily focused on divestitures from major oil companies and large independents. These efforts resulted in the accumulation of a significant number of non-operated working and royalty interests in several basins in the domestic U.S. Concurrently, the team has accumulated extensive geoscience and engineering knowledge critical to extending the success of the South Texas operations. The group has repeatedly demonstrated the ability, through acquisition or joint venture, to assume operation of a mature field area and dramatically enhance value through exploration, exploitation and production management. In 1997, Headington expanded its focus into the Rockies via an asset trade for Coastal’s Williston Basin properties. With this foundation, the team initiated an aggressive leasing program in the early 2000s, culminating in an acreage position of 500,000 acres (gross) and 360,000 acres (net). This Williston Basin acreage footprint spanned the area from Richland County, Montana, through the Nesson Anticline in western North Dakota. From this base, Headington Oil Company was one of the first movers in the development of the Bakken (and Three Forks/Sanish) trend. By 2008, Headington was operating a continuous five-rig drilling program, completing 160 horizontal Bakken wells prior to a divestment event in 2008. With the creation of Headington Energy Partners, LLC, we have added a number of key employees in management, technical and operations positions. Concurrent with efforts to exploit upside in existing South Texas assets, HEP has been working toward growth strategies along the Gulf Coast, in the Permian Basin, the Mid-Continent and other prospective areas in the domestic United States. Legacy assets in Texas and Oklahoma acquired through non-operated acquisitions provide a base from which to build on and strive for growth. Headington Energy Partners, LLC (HEP) is an independent oil and gas company co-founded by Pat L. Smith, William R. Johnston and Tim Headington. The growth-oriented company is focused on creating value through optimized reservoir development, oil field operations and asset management. HEP operates approximately 200 wells in South Texas and manages more than 3,000 non-operated assets, primarily in Texas and Oklahoma. We are pursuing growth opportunities in the Permian Basin, Mid-Continent and South Texas.