Liberty Resources II, LLC currently operates over 80 horizontal wells on their approximately 100 m net acre position in the Bakken and Three Forks formations of North Dakota as well as a 9,000 acre water flood project in Western North Dakota. Liberty II began their development drilling program in 2014 and has drilled and completed over fifty long laterals (~10,000 feet) and built oil production to over 10,000 BOE/day. In December 2016, Liberty commissioned a 25 MMCFPD gas processing plant, the County Line Plant, to support continued field development. Our long-term development plan anticipates a multi-rig multi-year drilling program on over fifty 1280 Acre Drill Spacing Units in the core of our properties near Tioga, ND.

In June, 2015 Liberty II purchased acreage in the deep oily section of the Powder River Basin of Wyoming with interests in an ~19,000 net acre position focusing on the Frontier / Turner, Niobrara, Shannon, and Mowry formations. Since that time, Liberty has drilled three long laterals (~10,000 feet) and filed for over 300 drilling permits to establish operations on over forty 1280 Acre Drill Spacing Units. Along with other offset operators, Liberty has seen improved drilling efficiencies with long laterals and increased productivity with high intensity hydraulic fracture stimulations. Liberty's Powder River position includes over 500 gross operated drilling locations with favorable returns (>40->100 IRR) at current commodity prices.