Existing Assets Matter — Bison II, LP | Kuhn Capital Partners
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Bison II, LP · Existing Assets

Already Acquired.
Already Producing.

55 producing wells. 255 upside locations. 731 net mineral acres. Bison II investors buy into an established Permian portfolio — not a plan to drill from scratch.

For important disclosures regarding this educational video, please see the disclaimer below.

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Bison II, LP · As of October 2026

Real assets. Real production. Established and ready.

What makes Bison II different — investors are buying into an existing portfolio of producing assets, not a startup drilling program. Today the fund owns producing wells, permitted locations, and net mineral acres concentrated across the Permian Basin’s most economic counties.

55
Producing wells (PDP)
Generating cash flow today
255
Upside drilling locations*
Identified future development
731
Net mineral acres
Permian Basin core
19
Properties · 8 counties
12 operators · Delaware & Midland

355 total wells & locations — 15% producing today.

The portfolio spans every stage of the drilling lifecycle: producing wells generating revenue now, drilled-uncompleted wells awaiting frac, permitted locations approved for drilling, and identified upside locations ready as economics warrant.

15%
PDP · 55 wells
Proved, developed & producing today.
8%
DUC / Drilling · 27 wells
Drilled or drilling, awaiting first production.
5%
Permits · 18 wells
Approved & ready to drill.
72%
Upside · 255 locations*
Identified for future drilling.

Concentrated in the most economic Permian counties.

The portfolio is weighted to the Delaware Basin — the deepest, thickest, and highest-quality oil acreage in the United States — with complementary positions in core Midland Basin counties — roughly a 60/40 split by net mineral acreage, alongside 12 established operators.

Net Mineral Acres by Basin

Delaware
~60%
Midland
~40%

Net Mineral Acres by Operator

Mewbourne
375.0
EOG
150.0
Vaquero
54.0
Exxon
49.4
Laguna Resources
40.0
Crescent Energy
24.7
Diamondback
22.7
ConocoPhillips
9.4
OXY
3.8
Ichthys
2.3

Stacked-pay exposure across the Permian’s most prolific intervals.

Wells in the portfolio target multiple horizontal benches stacked vertically within the same drilling unit — the geological advantage that makes the Permian capital-efficient.

Bone Springs (1st, 2nd, 3rd)Delaware Basin core; a primary horizontal target across the fund’s Delaware acreage.
Wolfcamp A / B / C / DThe most prolific shale interval in North America; multiple benches developed within the same pad.
Spraberry (Lower & Middle)Midland Basin foundation; high organic content, proven oil productivity.
DeanSandstone-dominant interval between Wolfcamp A and the Lower Spraberry — equivalent to the Delaware 3rd Bone Spring Sand.

An established asset base offers a different risk profile than startup drilling programs.

Existing wells. Existing production. Existing operator relationships. When you invest into Bison II, you’re buying into a portfolio that has already been assembled, permitted, and is generating cash flow — not a plan to drill from scratch.

Read the Q3 2026 Investor Update →
*Upside drilling locations, potential well sites, and estimated recoverable resources are based on internal engineering assessments and management estimates — not definitive upside wells or guaranteed drilling opportunities. There is no assurance any upside locations will be drilled, completed, or produce hydrocarbons at economically viable rates. Source: Bison II, LP Q3 2026 Investor Update. As of October 2026; subject to change. Percentages may not sum to 100% due to rounding. Four producing Strain wells shown under Mewbourne are operated by Blue Arrow Operating.

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