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September 2011 Corporate Presentation – Kodiak Oil & Gas Corp.

Kodiak Oil & Gas Corp. · Sep 26, 2011 · 21 slides

Investor presentation from the Shale Experts oil & gas presentation and slide database. Every page is imaged and its text indexed for search across operators, plays, basins and time.

Slides

  1. September 2011 Corporate Presentation – Kodiak Oil & Gas Corp. – slide 1
    Corporate Presentation September 2011 Exploring, developing and producing oil and natural gas in the U.S. Rocky Mountains. l www.kodiakog.com l NYSE: KOG
  2. September 2011 Corporate Presentation – Kodiak Oil & Gas Corp. – slide 2
    Corporate Data Symbol / Exchange: KOG / NYSE Market Capitalization: 1.2 B 52 Week H/L: 7.70 / 2.43 Shares Outstanding: 209 MM Total Assets1: 478 MM Cash and Equivalents2: 150 MM 200 MM Revolver: Wells Fargo facility: 110 MM Borrowing…
  3. September 2011 Corporate Presentation – Kodiak Oil & Gas Corp. – slide 3
    Rapidly Increasing Production Net Production/Sales Over Time (Average Boe/d) 9000 Exit Rate 12/31 9000 Expect to exit with five 8000 operated rigs; two non- operated rigs 7000 Began quarter 6000 with two Oil Sales operated rig…
  4. September 2011 Corporate Presentation – Kodiak Oil & Gas Corp. – slide 4
    2011 Capex Funds: Drilling & Completion Capital Expenditure Comparison (MM) Four operated rigs (5th Rig Q411) 250 Two non-operated rigs (40-50% WI) 230 2011 Capital Plan: 230 MM Total 200 220 MM Drilling & Completion 42 gross…
  5. September 2011 Corporate Presentation – Kodiak Oil & Gas Corp. – slide 5
    Well Economics Overview Projected long lateral wells with EUR of 650-850 MBO with average 9.5 MM well economics Bakken Long Lateral 750 MBO Bakken Long Lateral 850 MBO Well cost Well cost WTI Differential midpoint NPV-10 Payout WTI…
  6. September 2011 Corporate Presentation – Kodiak Oil & Gas Corp. – slide 6
    Large Contiguous Operated Acreage Position in Williston Basin Other Williston Basin East of the Nesson Anticline Dunn County, ND Polar Two operated rigs drilling Two non-operated rigs currently drilling Koala West of the…
  7. September 2011 Corporate Presentation – Kodiak Oil & Gas Corp. – slide 7
    Consolidation Drives Critical Mass Completion of three meaningful acreage acquisitions in the Williston Basin validates Kodiaks consolidation capability As it approaches 100,000 net acres in the Williston Basin, Kodiak has achieved…
  8. September 2011 Corporate Presentation – Kodiak Oil & Gas Corp. – slide 8
    Current Estimate of Well Locations Analysis of estimated well locations below assuming all long-lateral development Producing Kodiak Net Assumed Drilling Potential Well Locations Kodiak Project Area Formation Acres Unit Size Initial…
  9. September 2011 Corporate Presentation – Kodiak Oil & Gas Corp. – slide 9
    Williston Basin East of Nesson Dunn County, ND Activity Map29 Gross (16.7 Net) Wells in 2011 Dunn County Lease Position as of 08/31/2011: 34,000 net acres Original 5-year lease terms with 1-2 years remaining on existing leases…
  10. September 2011 Corporate Presentation – Kodiak Oil & Gas Corp. – slide 10
    Activity East of the Nesson Four-well pad completing in September Two-well pad completing in September KOG Proposed Location 700 Wellbore Separation TSB 2-24-12-2H TSB 2-24-12-1H3 SC 2-8-17-15H Drilling KOG Proposed…
  11. September 2011 Corporate Presentation – Kodiak Oil & Gas Corp. – slide 11
    Dunn County Historical Completion Activities Length of IP 24hr Daily Production (Boe/d) Gas/Oil Completion WI/NRI Lateral(1) Number Test 30 60 90 180 360 Ratio Well Name Date (%) (feet) of Stages Boe/d Days Days Days Days Days Range…
  12. September 2011 Corporate Presentation – Kodiak Oil & Gas Corp. – slide 12
    Dunn County Current Activities Rig WI/NRI Length of Completion Number of Well Name Status Number (%) Lateral(1) (feet) Date Stages 117 SC 2-8-17-15H(2) 46/38 9,500 4Q 2011 - Drilling 109 CE 15-22-15-3H3(2) 56/45 9,500 4Q 2011 -…
  13. September 2011 Corporate Presentation – Kodiak Oil & Gas Corp. – slide 13
    Williston Basin - West of Nesson Activity Map 13 Gross (9.3 Net) Wells in 2011 McKenzie, Williams & Divide Counties, ND Lease Position as of 08/31/2011: 54,000 net acres Sheridan County, MT Lease Position as of 08/31/2011:…
  14. September 2011 Corporate Presentation – Kodiak Oil & Gas Corp. – slide 14
    Koala Prospect McKenzie County, ND KOALA 2-25-36-14H3 KOALA 2-25-36-15H WOCT WOCT KOG KOALA 2-25-36-16H3 KOALA 15-31-30-2H KOALA 14-32-29-3H Koala 2-25-36-15H WOCT DRILLING PROPOSED PROPOSED LOCATION LOCATION BAKKEN…
  15. September 2011 Corporate Presentation – Kodiak Oil & Gas Corp. – slide 15
    Smokey Prospect McKenzie County, ND SMOKEY 15-22-15-2H WOCT Building Locations 4 wells per pad KOG Building Location Smokey 15-22-15-2H WOCT SMOKEY 15-22-34-15H3 DRILLING KOG Smokey 15-22-34-15H3 Drilling…
  16. September 2011 Corporate Presentation – Kodiak Oil & Gas Corp. – slide 16
    Pending Acquisition Williams County, ND Operated Leasehold Pending Acquisition Highlights* Non-operated Leasehold 13,500 net acres Projected 3,000 net BOE/d at closing Operated properties Up to 75 net potential Bakken / TFS…
  17. September 2011 Corporate Presentation – Kodiak Oil & Gas Corp. – slide 17
    Grizzly / East Grizzly 25,000 net acres KOG Proposed Location Four gross (2.6 net) wells budgeted for 2011 Estimated EURs: 400-550 MBoe KOG Proposed Locations All wells hooked up to KOG Building Location gas pipeline Nearby…
  18. September 2011 Corporate Presentation – Kodiak Oil & Gas Corp. – slide 18
    McKenzie County Drilling and Completion Activities Length of Daily Production (Boe/d) Rig Completion WI/NRI Number of IP 24-Hour Test 1 Well Name Lateral 30 60 90 180 Status Number Date (%) Stages Boe/d (feet) (1) Days Days…
  19. September 2011 Corporate Presentation – Kodiak Oil & Gas Corp. – slide 19
    Highlights Drill-bit focused producer with large acreage position in oil-levered Williston Basin 93,000 net acres in Williston Basin with Bakken and Three Forks potential 400 net locations in Kodiaks operating areas using…
  20. September 2011 Corporate Presentation – Kodiak Oil & Gas Corp. – slide 20
    Highlights Improving completion techniques enhance EURs, production and returns Projected long lateral wells with EUR of: 700-850 MBoe east of the Nesson 550-700 MBoe in Koala/Smokey acreage blocks 400-550 MBoe Grizzly/Mondak…
  21. September 2011 Corporate Presentation – Kodiak Oil & Gas Corp. – slide 21
    Financial Strategy Fund 230 MM Capex while maintaining a conservative balance sheet Internal cash flow Existing cash balances (150MM at 6/30/11) 200 MM revolving credit facility 110 MM revolving borrowing base facility undrawn and…

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