Wildhorse Resource Development of Houston, TX (WRD) is an independent oil

and natural gas company focused on the acquisition, exploration, development

and production of oil, natural gas, and NGL properties primarily in the Eagle Ford

Shale and Austin Chalk in East Texas. In 2016 the company became a publicly

traded firm by issuing 27,500,000 shares of its common stock at $15.00 per share.

Although Wildhorse has traditionally limited its operations to two fields in Texas

(Eagle Ford in south Texas and the Austin Chalk in central Texas) it is now engaged

in a series of horizontal drilling investments in north central Louisiana. The rapid

rate of growth in scale of the firm's operations have led to dramatic increases in

the firm's investments and appetite for investment capital as the following balance

sheets illustrate.

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