Company Highlights 1 Oil-weighted Williston Basin operator with scalable operational capability 91,000 net acres (68,250 or 75% operated) represents sizeable position within heart of play Current drilling spacing units have upside…
Strategic Accomplishments in 2013 EOX accomplished each of its set 2013 goals and transformed itself to a fully operated company Added substantial scale to existing Williston Basin acreage Added 73,000 net acres in Williston Basin…
EOX Overview Independent E&P company focused on Williston Basin Key Highlights and headquartered in Denver, Colorado Average daily production for 1Q14: 2,511 Boe/d 91,000 net acre position in the core of the Williston Basin 2014…
Track Record of Production Growth Significant production ramp up with 2014E average production guidance of 3,700 boe/d Production growth will accelerate in the near term with a focus on the operated drilling program to convert EOXs…
Track Record of Reserves Growth Significant increase in proved reserves through the 2013 fiscal year 147% increase in 2013 primarily as a result of increased drilling activity in our operated well program Reserves (Mmboe) 13.2…
Reserves Summary Net Proved Resources as of 12/31/2013 Oil Gas Total PV-10(1) Category (MBbls) (Mmcf) (Mboe) (mm) PDP 3,883 4,355 4,609 145 PDNP 1,928 1,416 2,164 44 PUD 5,765 4,232 6,470 49 Total proved 11,576 10,002 13,243…
Execution Driving Strong Results On Top Of Increasing Drilling Inventory Current Inventory Potential Per Well EUR (1) Project Area Net Acres Locations NRI NRI Wells (Mboe) Williston Operated 68,293 514 80% 411 500 Williston…
Low Rider Type Curve Results Exceeding Expectations Cum Boe McKenzie County Well Results Low Rider(1) 600 Mboe Type Curve 550 Mboe Type Curve Historical Well Performance Days On Production (1) Well results are long lateral…
Acreage Portfolio Williston Basin Acreage by State Operated Acreage Montana 9% Non- Operated Operated 75% 25% North Dakota 91% Total Acreage: 91,000 Total Operated Acreage: 68,300 Acreage Summary (Acres) 75,387…
2014 Capex Plan 2014E Capital Plan 2014E Capital Expenditures ( in millions) Total drilling budget of 250 million for 12-month period ending 12/31/14 Drilling Budget, 250 100% operated drilling activity Land Budget 150 Currently…
Illustrative Net Asset Value Growth Opportunity Accelerating drilling reduces acreage development cycle for the 697 current net horizontal drilling locations by 4 years 700 697 4 rig case 3 rig case 600 500 400 Net…
Pure-Play Bakken Exposure At Attractive Entry Point Enterprise Value / Bakken Net Acre(1) (/Acre) 14,644 9,325 7,796 Peer Average: 8,775 3,338 3,147 KOG TPLM OAS NOG EOX Source: Public filings. Market pricing as of…
Financial Strategy Maintain adequate liquidity Emerald has 296 million of liquidity(1) Capital budget fully funded through 2014 Utilize hedging to protect cash flows Emerald plans to hedge up to 60% of the Companys Total Proved…
Hedge Positions and Strategy Managements goal is to hedge up to 60% of the Companys Proved Reserves Company utilizes swaps to hedge production Hedging Summary(1) 4,000 Hedged Volumes (Bbls/d) 3,500 3,414 3,000 2,500 96.13…
2014 Guidance 2014 Guidance February 2014 Acquisition Guidance Initial Adjustment Increase Current Wells Drilled Operated 18.2 - 40% 25.5 Avg. Full Year 3,300 250 6% 3,700 Production (boe/d) Exit rate 4,000 250 23% 4,900…
Investment Highlights Summary 1 Oil-weighted Williston Basin operator with scalable operational capability 2 Opportunity to gain pure-play Williston Basin exposure with a high growth rate 3 Accretive development program…
Corporate Contact Information Emerald Oil, Inc. Auditor 1600 Broadway BDO USA, LLP Suite 1360 Houston, Texas Denver, CO 80202 (303) 595-5600 Independent Petroleum Engineer Netherland, Sewell & Associates, Inc. Houston, Texas Legal…
Appendix Well Results Well Results (Boe/d)(1) 24-Hr 30 Day 90 Day 180 Day 270 Day Pirate 1-2-11H 1,801 1,025 621 512 487 Caper 1-15-22H 2,063 994 678 480 Mongoose 1-8-5H 1,523 892 619 557 Slugger 1-16-21H 1,342 782 508 487…
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