text: Our position as a cost and balance sheet leader is underpinned by two key philosophies: 
  1) investment in a leading technical team that is encouraged to take reasonable risks to 
  improve recoveries and/or reduce costs, and 2) a ruthless focus on portfolio returns as 
  demonstrated by our consistent track record of divesting assets that don’t fit our strategic 
  objectives or promise lower forward return profiles. 
  
  Our high quality Eagle Ford acreage produces strong recoveries at reasonable costs and 
  thus generates good returns, even in a low price environment. Because of these character- 
  istics, the majority of our forward capital is expected to be invested generating strong 
  growth and shareholder returns in the Eagle Ford. 
  
  With mixed appraisal results in the Woodford, Sundance’s Mississippian/Woodford 
  position generally requires higher prices to meet our hurdle rates. Because of the mixed 
  Woodford results, higher overall unit costs, and depressed pricing at year end, we 
  recognized an impairment charge of ~$60 million on these assets at year 2014. Had 
  prices maintained their strength, we likely would have been in a position to recover our 
  investment from these assets. 