en [Figure 54; 2017 Cash Outspend By Company 225% -. 175% 125% 118% 119% 112% 75% 25% .25% APA APO OVN IFigure 53: Outspend (excluding digTioen CAGR ratio 140x 120x b 500.A so. • N 60x 4.0x 40 4 COG f Nit Pr DWI • 63110 20k ..... — .... -2 0.4 -IQ 004 Mt 204 10. 40x 401