Deep Gulf Energy lll

Deep Gulf Energy III was established in late 2014 with $498 million in equity. Since inception the venture has purchased an interest in 2 development projects and made 4 successful discoveries with no dry holes. Deep Gulf Energy III now has 2P reserves of 35 MMBOE. Current production is 922 BOEPD. We expect production to increase to 15,000 BOEPD over the next 4 years. We expect to begin distributions from DGE III in 2018 and exit via a sale by 2021.