Jefferies 2012 Global Energy Conference November 2012 Exploring, developing and producing oil and natural gas in the U.S. Rocky Mountains. www.kodiakog.com l NYSE: KOG
Corporate Data Symbol / Exchange: KOG / NYSE Market Capitalization: 2.4 B 52 Week H/L: 10.75 / 3.59 Shares Outstanding: 263 MM Total Liquidity1: 260 MM 750 MM Revolver: 450 MM Borrowing Base Unsecured Senior Notes: 800 MM…
Rapidly Increasing Production 27,000 Cash Margin Over Time (/BOE) 2012 Production Guidance Gas Sales 81.68 80.95 Oil Sales 15,500-17,500 75.11 7.16 5.67 72.74 4.36 15,855 8.69 8.83 4.75 8.19 7.05 7.80 10.08 5.77 12,696…
2012E Capex 2012E Capex = 750 MM Capital Expenditures Comparison 726 MM for drilling, completion and ( in millions) 750 related facilities 66 net wells (55 Op, 11 Non-op) 12 MM additional acreage acquisitions 12 MM salt water…
Well Economics Overview Projected long lateral wells with EUR of 650-850 MBO with average 10.5 MM well economics Bakken Long Lateral 750 MBO Bakken Long Lateral 850 MBO Well cost Well cost WTI Differential midpoint NPV-10 Payout WTI…
Large Operated Acreage Position Williston Basin Williston Basin Acreage Over Time (in acres) 153,000 93,000 72,000 55,400 Aug-10 Dec-10 Jun-11 Sep-12 7
Overview: Williston Basin East of Nesson, Dunn County, ND Dunn County Lease Position as of 9/30/2012: 34,000 net acres Estimated long lateral Bakken EURs: 800-950+ MBOE Current Economic Parameters: 10.5 MM drilling and completion…
Dunn County, ND Well Name Map WI/NRI (%) Status SC 12-7-8-9H3(3) 1 100/81 Completing MC 16-26-27-12H(2) 69/55 WOCT(1) 2 MC 16-26-27-13H3(2) 69/55 WOCT(1) SC 16-2-3-13H(2) 3 99/81 1 WOCT(1) 3 SC 16-2-3-13H3(2) 99/81…
Overview: Williston Basin West of Nesson, Williams & McKenzie Counties, ND McKenzie & Williams Counties, ND Lease Position as of 9/30/2012: 119,000 net acres Estimated long lateral Bakken EURs: 750-900+ MBOE Current Economic…
Prospect: Koala - McKenzie County Well Name Map WI/NRI (%) Status (3) Koala 15-33-28-3H Polar 88/70 1 Flowing Back Koala 15-33-28-2H3 (3) 3 1 94/75 Flowing Back Koala 2 (3) Koala 15-33-28-2H 88/70 Flowing Back (2) Koala…
Smokey & Polar Pilot Projects: Reservoir Well Spacing Pattern WELLBORE LOCATION LODGEPOLE 500 UPPER BAKKEN SHALE MIDDLE BAKKEN 800 LOWER BAKKEN SHALE 70 400 UPPER THREE FORKS 800 800 50 MIDDLE THREE FORKS LOWER THREE…
Prospect: Smokey - McKenzie County With current drilling program, Well Name Smokey block will be HBP by Map WI/NRI (%) end of 2012 Status (4) Smokey 15-7-6-2H3 86/67 Completing Polar Smokey 15-7-19-15H3 (4) 99/78 Completing…
Prospect: Polar - Williams County Well Name Map WI/NRI (%) With current drilling Status program, Polar will be HBP P Bibler 155-99-15-31-30-2H(4) by end of 2013 78/60 WOCT(1) P Bibler 155-99-15-31-7-15H3(4) 90/70 WOCT(1) Polar…
Prospect: Grizzly - McKenzie County Well Name Map WI/NRI (%) Status Grizzly 146-99-3-3-10-13H3(2) 98/79 WOCT(1) 1 Grizzly 146-99-3-3-10-14H(2) 98/79 Grizzly WOCT(1) Grizzly 147-103-16-21-16-1H3(2) Smokey 2 100/81…
Prospect: Wildrose - Williams County Wildrose Schilke 16-21-1H 86/68 IP: 1,007 BOE Polar (1) Waiting on Completion Tools (2) Two-well Drilling Pad (3) Three-well Drilling Pad (4) Four-well Drilling Pad Approximate Lateral…
Financial Strategy Kodiak Has Historically Employed a Conservative Financial Strategy Swaps Strive to maintain conservative balance sheet which preserves financial flexibility 12,000 10,010 11,105 125 10,000 91.86 87.12 100…
Takeaway Capacity Based on existing and proposed projects, the Williston is expected to continue to have ample infrastructure to transport crude out of the basin 1H12 estimated transportation of 975 MBbl/d (525 by rail, 450 via…
US Oil Pipeline System Source: ENBRIDGE 19
Key Highlights 153,000 net acres in Williston Basin largely de-risked with Drill-bit focused producer with large Bakken/Three Forks potential acreage position in oil-levered Proved reserves of 70.1 Mmboe at 6/30/2012 (86% liquids)…
Appendix Historical Completion Activities 21
Historical Completion Activities Dunn County Length of Daily Production (Boe/d) Gas/Oil Completion WI/NRI Lateral(1) IP 24hr 30 60 90 180 360 Ratio Well Name Date (%) (feet) Test Boe/d Days Days Days Days Days Range Status Long…
Historical Completion Activities Koala Prospect - McKenzie County Daily Production (Boe/d) Length of IP 24hr Gas/Oil Completion WI/NRI Lateral(1) Test 30 60 90 180 360 Ratio Well Name Date (%) (feet) Boe/d Days Days Days Days Days…
Historical Completion Activities Smokey and Grizzly Prospects - McKenzie County Daily Production (Boe/d) Length of IP 24hr Gas/Oil Completion WI/NRI Lateral(1) Test 30 60 90 180 360 Ratio Well Name Date (%) (feet) Boe/d Days Days…
Historical Completion Activities Williams County Length of IP 24hr Daily Production (Boe/d) Gas/Oil Completion WI/NRI Lateral(1) Test 30 60 90 180 360 Ratio Well Name Date (%) (feet) Boe/d Days Days Days Days Days Range Status Long…
Current Estimate of Well Locations Analysis of estimated net well locations below assuming all long-lateral development Producing Kodiak Net Assumed Drilling Total Net Kodiak Prospect Area Formation Acres Acres Well Locations…
Proved Reserve Summary 06/30/2012 Proved Reserves and PV-10 June 30, 2012 reserves audited by NSAI Kodiak Net Proved Reserves as of June 30, 2012 Reserve Category Oil Gas Total SEC PV-10 (Mbbls) (Mmcf) (Mboe) (MM) Proved Developed…
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