BP's oil output drops 5% on year in Q1, offset by natural gas surge Natural gas liquids pipeline approved for northwest N.D.

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1 Apr-17 May-17 Jun-17 Jul-17 Aug-17 Sep-17 Oct-17 Nov-17 Dec-17 Jan-18 Feb-18 Mar-18 Apr-18 8: 8:45 9:3 1:15 11: 11:45 12:3 13:15 14: Prior Day s NYMEX May-18 Contract (CT) NYMEX NG Futures Jun (.8) Jul (.11) Aug (.13) Sep (.15) Oct (.15) Nov (.14) Dec (.14) Jan (.14) Feb (.12) Mar (.8) Apr (.3) May (.2) Jun (.1) Jul (.1) Aug (.1) Sep (.2) Oct (.2) Nov Dec Jan Feb Mar Apr May YR Strip (.11) (.13) 5YR Strip (.1) I N T H E N E W S BP's oil output drops 5% on year in Q1, offset by natural gas surge Platts reported: BP's oil output dropped 5% on the year in the first quarter, partially reversing a large jump in the previous quarter as its Abu Dhabi offshore concession expired, with a further reduction forecast in the current quarter, offset by surging gas production. Excluding its stake in Rosneft, the major re- 1 2 M O N T H C A N D L E S T I C K ( W E E K L Y ) BP's oil output drops 5% on year in Q1, offset by natural gas surge Natural gas liquids pipeline approved for northwest N.D. ported its highest upstream production since Q4, 21 in its quarterly results statement at 2.61 million b/d of oil equivalent, a 9% rise from a year earlier, and close to rival Total's output. Its pretax profit in the upstream segment more than doubled to $3.18 billion, excluding the effect of inventory changes, and the company expects to break even at oil prices of $5/b this year. In a call with investors, chief financial officer Brian Gilvary said he saw no sign of inflation returning in any part of the company's upstream portfolio, including in its gas-focused US shale operations, where it has 12 rigs, some with breakeven costs as low as $1/b, in the Haynesville play. For more on this story visit platts.com or click Natural gas liquids pipeline approved for northwest N.D. The Bismarck Tribune reported: The North Dakota Public Service Commission approved a natural gas liquids pipeline on Monday, a project commissioners said will provide a safer transportation option and help industry reduce natural gas flaring. Oneok s Cherry Creek Pipeline project involves the conversion of about 45 miles of natural gas gathering lines into a natural gas liquids transmission pipeline in northwest North Dakota. Commissioner Julie Fedorchak said converting the existing pipeline will involve very little construction. The $1.8 million project will transport up to 5, barrels of natural gas liquids from the Lonesome Creek gas processing plant in McKenzie County to the Stateline gas processing plant in Williams County, where it will deliver into the Bakken Pipeline. For more on this story visit bismarcktribune.com or click M A Y 1, Prompt Natural Gas (NG) Daily Sentiment BULLISH RESISTANCE 2.76 & 2.81 SUPPORT 2.74 & 2.71 Trading Summary NATURAL GAS Futures Close Change NG (.8) Volume 28,638 (9,756) Open Int. 1,437,772 13,339 CRUDE AND GASOLINE Futures Close Change Crude RBOB Crude/NG METALS Futures Close Change Gold 1,319.2 (1.5) EQUITIES Exchange Close Change DOW 24,163. (148.4) S&P (21.86) CURRENCY Currency Close Change EUR/USD (.53) USD/CND Contact Us Mansfield Energy Corp 125 Airport Pkwy Gainesville, GA info@mansfieldoil.com Phone: (8)

2 Month: May 218 Day Price Day Price Average (May) #DIV/! (through 4/3/218) Average (Apr) Average (Mar) N A T U R A L G A S B A S I S F U T U R E S, H E N R Y H U B S P O T P R I C E S, A N D F O R W A R D C U R V E Waha Basis (platts Iferc) Sumas Basis (platts Iferc) Henry Hub Daily Spot Price M A Y 1, CME NG Option Prices ATM Call CME NG Option Prices ATM Put APR 218 MAR 218 FEB NYMEX Natural Gas Forward Curve 7/1/22 5/1/221 1/1/221 8/1/222 1/1/223 6/1/223 4/1/224 9/1/224 2/1/225 7/1/225 12/1/225 5/1/226 1/1/ Michcon Basis (platts Iferc) Transco Zone 6 Basis (platts Iferc) San Juan Basis (platts Iferc) Transco Zone 4 Basis (platts Iferc) Month Strike Close Imp Vol Jul-18 Aug Sep-18 Oct-18 Nov-18 Month Strike Close Imp Vol Jul-18 Aug Sep-18 Oct-18 Nov-18 NYMEX WTI Delivery Month Average ($/bbl) (Excluding Weekends and Holidays) Page 2

3 M A Y 1, W E E K L Y G A S I N U N D E R G R O U N D S T O R A G E W I T H 5 - Y R R A N G E Release Date: Apr 5, 218 O B S E R V E D S N O W D E P T H Rig Count Report Date: April 27, 218 Total Change US CN - 85 (8) EIA Weekly NG Storage Actual and Surveys for April 25, 218 Released April 26, 218 Range (28) to (71) PIRA (13) Citi Futures (8) Reuters (11) EIA ACTUAL (18) Total Working Gas In Storage 1,281 BCF (18) BCF (LAST WEEK) (897) BCF (LAST YEAR) (527) BCF (5-YR AVG) 2 4 H O U R S N O W F A L L F O R E C A S T U.S. Natural Gas Supply Gas Week 4/19 4/25 Average daily values (BCF/D): Last Year (BCF/d) Dry Production +8.3 Total Supply Last Week (BCF/d) Dry Production Total Supply [NEXT REPORT ON May 3] U.S. Natural Gas Demand Gas Week 4/19 4/25 Average daily values (BCF/D): Last Year (BCF/d) Power Total Demand Last Week (BCF/d) Power Total Demand [NEXT REPORT ON May 3] Page 3

4 M A Y 1, W E A T H E R H I G H / L O W T E M P E R A T U R E T O M O R R O W HIGH Temperature LOW Temperature W E A T H E R 6 T O 1 D A Y O U T L O O K N O A A Temperature Precipitation W E A T H E R 8 T O 1 4 D A Y O U T L O O K N O A A Temperature Precipitation Page 4

5 1 7/1/218 9/1/218 1/1/219 3/1/219 5/1/219 7/1/ /1/218 9/1/218 1/1/219 3/1/219 5/1/219 7/1/219 M A Y 1, E T H A N E F U T U R E S, N G / E T H A N E R A T I O, P R O P A N E F U T U R E S, A N D T H E F RA C S P R E A D Ethane Futures 1.7 Ethane / Natural Gas Ratio CME Future Prices Ethane (C2) Non-LDH Mont Belvieu (cents/gallon) Jun (.) Jul (.2) Aug (.2) Sep (.2) Oct (.2) Nov (.2) Dec (.3) Jan (.3) Feb (.3) Mar (.5) Apr (.4) May (.3) 1YR Strip.271 (.3) Propane Futures Frac Spread CME Future Prices Propane (C3) Non-LDH Mont Belvieu (cents/gallon) Jun Jul Aug Sep Oct Nov Dec Jan Feb Mar Apr May YR Strip Page 5

6 7/1/218 3/1/219 7/1/219 11/1/219 3/1/22 7/1/22 11/1/22 3/1/221 7/1/221 11/1/221 7/1/222 11/1/222 3/1/223 7/1/223 3/1/224 7/1/22 5/1/221 1/1/221 8/1/222 1/1/223 6/1/223 4/1/224 9/1/224 2/1/225 7/1/225 12/1/225 5/1/226 1/1/226 7/1/218 3/1/219 7/1/219 11/1/219 3/1/22 7/1/22 11/1/22 3/1/221 7/1/221 11/1/221 7/1/222 11/1/222 3/1/223 7/1/223 3/1/224 7/1/224 11/1/224 3/1/225 M A Y 1, Prompt WTI (CL) Crude Daily Sentiment BULLISH RESISTANCE & 7.53 SUPPORT & FOLLOW US ON NYMEX Brent (BZ) Futures Jul Aug Sep Oct Nov Dec Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec Jan Feb Mar Apr May Jun YR Strip YR Strip B R E N T C R U D E F O R W A R D C U R V E W T I C R U D E F O R W A R D C U R V E W T I B R E N T S P R E A D (1) (2) (3) (4) (5) (6) (7) (8) (9) (1) FRAC Spread Specifications Ethane : 42% Propane: 28% Butane: 11% 66,5 btu/g 9,83 btu/g 12,916 btu/g Iso-Butane: 6% 98,935 btu/g Natural Gasoline: 13% 115,21 btu/g Prompt NGL Futures ($/gallon) Jun-18 Butane Iso-Butane Nat Gasoline Close Change NYMEX WTI (CL) Futures Jun Jul Aug Sep Oct Nov Dec Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec Jan Feb Mar Apr May YR Strip YR Strip Page 6

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