NOIA Fall Meeting 2017 SIS Culture of Safety Award Arena Offshore, LP October 6, 2017

Arena Company History Since inception in 1999, the business plan has been to: Generate lower risk exploitation drilling opportunities Focus on the GOM shelf near existing fields Grow the company through the drill bit Monetize investments through long-term operation and production of oilfields Financed with employee equity, debt, and organic cash flow No outside sponsor or private equity Long term investment perspective Not for sale…develop and produce out

How Arena Differentiates Integrated geological, geophysical, and engineering evaluations Good understanding of the remaining opportunities on the GOM shelf Smaller reserve size requirements to make a project drillable Optimistic perspective that drilling opportunities remain Good reputation and strong industry contacts Operational and financial capability to get wells drilled

Operating History In 2002, Arena Offshore was formed to manage operations in the GOM Currently operates 36 fields consisting of 135 platforms and 400 active wells Since inception, Arena has participated in ~272 drill wells (239+ operated) with an average working interest over 76% and invested more than $3.2 billion of net capital Long-term repeatable drilling success with over 90% of wells drilled resulting in a completed well Arena Offshore has never had an operated loss of well control incident Arena Offshore has never had a loss of life on an operated project During the last 8 years Arena Offshore has operated 100% of the drill wells in which the company has participated In addition to our full-time employees, Arena Offshore also directs the activities of approximately 270 contract offshore field production personnel and an average of 465 contract offshore drilling and construction personnel

Asset Footprint (107 Total Blocks) 79 Operated HBP 24 Primary Term leases 4 Operated by Others South Timbalier Eugene Island Denotes core focus areas Operated HBP Operated Primary Non-operated HBP

Top 10 Offshore Drillers – Gulf Of Mexico Drill Wells by Operator from 1/1/2012 to 12/31/2016 Operator Total Wells Last 5-Years 5-Year Rank 2012 - 2016 3-Year Rank 2014 – 2016 1-Year Rank 2016 Chevron 191 1 3 Arena Offshore 166 2 Shell 142 Energy XXI 112 4 5 NWD Anadarko 69 LLOG 62 6 BP 55 7 Apache 52 8 22 Energy Partners 50 9 10 Fieldwood 36 16 Source: IHS PIDM Database NWD: No wells drilled

Arena Group – Drill Well Summary

5-Year Oil Growth CAGR of 25% Production Growth 5-Year Oil Growth CAGR of 25% 18% 35% 18% 19% 29% Note: Production net of LRR / LRP ORRI (ie. Arena production excludes LRR / LRP ORRI production).

The Man In The Arena… “It is not the critic who counts; not the man who points out how the strong man stumbles, or where the doer of deeds could have done them better. The credit belongs to the man who is actually in the Arena.....” Theodore Roosevelt Paris, 1910

The Call to Action TRIR = (# of OSHA Recordable Incidents x 200,000) (Total # of hours worked)

Company Growth & Safety Culture Drivers Our Safety Culture Cues… Driving a “Planning” culture Maintaining alignment with… “The Arena Way” Shutting down operations when appropriate Encouraging constructive challenges to the status quo Providing a formal channel for raising/discussing individual concerns

Providing Mechanisms for Change Since 2011… PINC elimination program Compliance Techs in field Rig Self-Inspections Safe Work Practices (SWP’s) Rigorous Incident Investigations Sharing of Lessons Learned Hands on JSA coaching

Contractor Management Strategy Accepting responsibility & accountability “Top Ten” Contractor Management Program Require of Contractor’s Rigorous job planning Adherence to SWP’s Quality JSA development Challenging safety targets Frequent follow-up

Contractor Management – Top Ten Initiative “Enhanced Focus” with our Key Contracting Partners Average of 40 companies in program Designation of a “Contractor Sponsor” (AOL Staff) for each Top 10 contractor Mutual goals, targets & performance expectations Identify, monitor & track action requirements and progress Monitor & report field performance Conduct quarterly data exchange & status discussion Perform annual formal performance evaluation

Collaborative Performance Improvement

Material Performance Results AOL 2015 Ranking Position 0.56   1st Quartile = 0.62 ISNetworld GOM Offshore Operating Companies Peer Benchmarking – 2015 Data 2nd Quartile = 0.67 Data Represents TRIR metrics (Aggregate for all Contractors employed by the Offshore Operating Company) 3rd Quartile = 0.76 AOL 2012 Ranking Position 0.82 Data sourced from ISNetworld Contractor Management Service

Regulatory Compliance – A License to Operate

Regulatory Compliance – Arena vs GOM Shelf Peers

The Dividends of Safety Culture Investment AOL Total Recordable Injury Rates (Aggregate – All AOL Operations) (2012 – today)