Economics : Type Curve

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Bakken Optimized Completions: Uplifting Performance & Economics Across Our Acreage 57 operated gross wells turned to production in 3Q17 Average 24-Hr IP: 1,752 Boe per day (80% oil) 15 wells with 24-Hr IPs over 2,000 Boe per day 3 wells in Company top 10 all time 30-day rate wells 250,000 ND Bakken Well Production(1) Cumulative Production BOE 200,000 150,000 100,000 50,000 20 Miles All optimized completions CLR Leasehold 0 CLR Larger Optimized Completion 0 30 60 90 120 150 180 210 240 Days Optimized completions successful across broad area 1. 101 optimized completions for MB, TF1 and TF2 HBP or grassroots density wells through 3Q17; down days removed 12
Continental Resources, Inc.
November 2017

Fort Berthold Type Curves and Well Economics Fort Berthold Type Curves Well / Economic Assumptions Barrels of oil per day Lateral length 10,000 ft. 1,800 1,600 1,200 MBO Type Curve (1,400 MBOE) Proppant loading 1,000 lbs/lateral ft 1,400 900 MBO Type Curve (1,050 MBOE) Drilling & completions cost US6.7MM 1,200 1,000 Facilities cost US1.1MM 800 600 WTI price (flat) US50/bbl 400 Differential to WTI(1) -US3.75/bbl 200 0 NYMEX price (flat) US3.00/Mcf 0 5 10 15 20 25 30 35 40 45 50 Months Type Curve Production & Economics Cumulative % of Recoverable Oil Produced by Year Oil (MBO) 1,200 900 80% Oil Equivalent (MBOE) 1,400 1,050 70% 60% 30 Day Cum. Oil Prod (bbls) 48,118 36,089 50% 1st Year Cum. Oil Prod (bbls) 267,121 200,341 40% IRR Pretax (%) 65% 33% 30% 20% Payout (Years) 1.6 2.6 10% Breakeven WTI Price (US/bbl)(2) 33.00 38.70 0% 1 2 3 4 5 6 7 8 9 10 Year 1) Basis differential to WTI: -US3.75/bbl for 2018; -US4.25/bbl for 2019; and US5.25/bbl for 2020+ 16 2) Breakeven based on 10% rate of return
Enerplus Corp
November 2017

Superior Well Performance 340,000 Average (Wells Completed in 2017) 320,000 700 Mboe Type Curve 300,000 280,000 800 Mboe Type Curve 260,000 900 Mboe Type Curve 240,000 1200 Mboe Type Curve Cum Production (Boe) 220,000 200,000 180,000 160,000 140,000 120,000 100,000 80,000 60,000 40,000 20,000 - - 30 60 90 120 150 180 210 240 270 300 Normalized Producing Days - Excluding Downtime 2017 Completions where Northern has a working interest Represents 167 gross (8.9 net) wells(1) (1) 2017 Completions Wells Northern has a working interest and daily production totals, excludes gross/net wells 10 where Northern purchased an interest in an older producing well. Data normalized to 9,500 foot lateral. Source: NOG Leasehold 2017 Completions Company information as of September 30, 2017.
Northern Oil and Gas, Inc.
November 2017

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