Williston Basin Overview

The Bakken Shale in the Williston Basin of North Dakota and Montana is one of the most prolific oil shale plays in the United States, having produced over 5 billion barrels of oil and currently producing ~1.2mmb/d

Purified believes the Bakken Shale is the most de-risked shale play in the US today
- Over 18,000 horizontal wells have been drilled to date
- Geology is well-defined
- Infrastructure is well-established
- Regulatory environment is favorable
Advances in technology have changed the trajectory of the Bakken. The adoption of high-intensity completions and extended reach laterals are consistently improving well productivity and economics.

Investment Highlights

Experienced management team with an extensive track record and intimate knowledge of the Bakken Shale as natives of Montana and North Dakota
Unique relationships with operators and landowners provide a competitive advantage in securing proprietary investment opportunities
Diversified portfolio of high-quality oil and gas drilling projects targeting gross 2x ROI and <2-year paybacks including acquisition costs on a full-cycle basis
Lean fee and expense structure highly aligned with investors
Tax-advantaged investment vehicle provides access to special provisions in the US Tax Code including Intangible Drilling Costs (IDCs) with the potential to offset passive or active income
Focus on rapid cycling of capital by investing close to the drillbit and providing liquidity through regular distributions of net operating cash flows

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