CAUTIONARY STATEMENT CONCERNING FORWARD-LOOKING STATEMENTS Certain statements contained in this report may contain “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933, as amended (the “Securities Act”), and Section 21E of the Securities Exchange Act of 1934, as amended (the “Exchange Act”). All statements other than statements of historical facts contained in this report are forward-looking statements. These forward-looking statements can generally be identified by the use of words such as “may,” “will,” “could,” “should,” “project,” “intends,” “plans,” “pursue,” “target,” “continue,” “believes,” “anticipates,” “expects,” “estimates,” “guidance,” “predicts,” or “potential,” the negative of such terms or variations thereon, or other comparable terminology. Statements that describe our future plans, strategies, intentions, expectations, objectives, goals, potential acquisitions or mergers or prospects are also forward-looking statements. Actual results could differ materially from those anticipated in this filing or these forward-looking statements. Readers should consider carefully the risks described under the “Risk Factors” section of this report and other sections of this report which describe factors that could cause our actual results to differ from those anticipated in forward-looking statements, including, but not limited to, the following factors: 3 • continued volatility and weakness in commodity prices for oil, natural gas and natural gas liquids and the effect of prices set or influenced by action of the Organization of Petroleum Exporting Countries (“OPEC”), its members and other oil and natural gas producing countries; • the effect of existing and future laws, governmental regulations and the political and economic climates of the United States particularly with respect to climate change, alternative energy and similar topical movements; • substantial changes in estimates of our proved reserves; • substantial declines in the estimated values of our proved oil and natural gas reserves; • our ability to replace our oil and natural gas reserves; • impacts of world health events, including the coronavirus (“COVID-19”) pandemic; • the risk of the actual presence or recoverability of oil and natural gas reserves and that future production rates will be less than estimated; • the potential for production decline rates and associated production costs for our wells to be greater than we forecast; • the timing and extent of our success in acquiring, discovering, developing and producing oil and natural gas reserves;  • the financial ability and willingness of our partners under our joint operating agreements to join in our plans for future exploration, development and production activities; • our ability to acquire additional mineral leases; • the cost and availability of high-quality equipment and services with fully trained and adequate personnel, such as contract drilling rigs and completion equipment on a timely basis and at reasonable prices; • risks in connection with potential acquisitions and the integration of significant acquisitions or assets acquired through merger or otherwise; • the possibility that acquisitions and divestitures may involve unexpected costs or delays, and that acquisitions may not achieve intended benefits; • the possibility that potential divestitures may not occur or could be burdened with unforeseen costs; • unanticipated reductions in the borrowing base under the credit agreement we are party to; • risks incidental to the drilling and operation of oil and natural gas wells including mechanical failures; • our dependence on the availability, use and disposal of water in our drilling, completion and production operations; • the availability of sufficient pipeline and other transportation facilities to carry our production to market and the impact of these facilities on realized prices; • significant competition for oil and natural gas acreage and acquisitions; • our ability to retain key members of senior management and key technical and financial employees; • changes in environmental laws and the regulation and enforcement related to those laws;