Trailblazer is a leading operator primarily focused in South Texas in the Eagle Ford play in Atascosa and Frio counties. Trailblazer also has operations in southeast Texas in Burleson, Brazos, Grimes, Madison, Leon, and Houston Counties. Trailblazer’s headquarters are in Tulsa, Oklahoma and Field Offices are in Normangee, Lovelady and Jourdanton Texas.

Trailblazer has been a consolidator in its area of operations with purchases from: Petrohawk, Marlin Energy Resources, Burk Royalty, Sequitur Energy, and Virtex. Trailblazer intends to acquire additional companies/properties primarily in the Eagle Ford play. Trailblazer has executed a PSA with a large operator in Atascosa County with closing scheduled for February 2026 more than doubling the company’s Eagle Ford production and lease position. The acquisition also provides a significant inventory of over 100 locations, including at least 65 horizontal long laterals (~13,000). Development of our assets has been primarily via horizontal long lateral drilling.

Trailblazer looks forward to announcing more information about its pending large South Texas Eagle Ford acquisition. With that acquisition, Trailblazer intends to embark on a multiyear Eagle Ford drilling campaign which will significantly increase production, reserves, cash flow, ebitda, and provide substantial value creation for the company.

Trailblazer works with numerous landowners, both private and public. Public partners in our oil and gas operations include the Texas General Land Office and Texas Department of Criminal Justice. Trailblazer has a constant focus on environmental and corporate governance, as well as a very strong performance history with the Texas Railroad Commission. Safety and environmental performance are hallmarks of our existence.

Trailblazer is also a midstream operator that includes local and regional gathering of both gas and water. Trailblazer has an extensive midstream gas gathering system spanning Houston, Leon, and Madison counties in Southeast Texas, as well as Frio and Atascosa counties in South Texas.

Trailblazer’s sponsor is Millstreet Capital Management, a Boston, MA based SEC registered investment adviser with approximately $5.2 billion of assets under management. Millstreet invests across the capital structure with a focus on the inefficient and overlooked small to mid-capitalization segment of the market across the entire range of performing, stressed and distressed credit.

Millstreet’s credit investments include high yield bonds and leveraged loans in both new issuances and the secondary market. Recent investments within the energy and resources space include Trailblazer, Canvas Energy, Tacora Resources and Jervois Global.