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

2. 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

3. 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

4. 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

5. 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

6. 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
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

7. Arena Group – Drill Well Summary

8. 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).

9. 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

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

11. 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

12. 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

13. 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

14. 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

15. Collaborative Performance Improvement

16. 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

17. Regulatory Compliance – A License to Operate

18. Regulatory Compliance – Arena vs GOM Shelf Peers

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