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The Pritchard Capital Partners 9th Annual Energize Conference – Kodiak Oil & Gas Corp.

Kodiak Oil & Gas Corp. · Jan 5, 2012 · 22 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. The Pritchard Capital Partners 9th Annual Energize Conference – Kodiak Oil & Gas Corp. – slide 1
    Corporate Presentation January 2012 Exploring, developing and producing oil and natural gas in the U.S. Rocky Mountains. l www.kodiakog.com l NYSE: KOG
  2. The Pritchard Capital Partners 9th Annual Energize Conference – Kodiak Oil & Gas Corp. – slide 2
    Corporate Data Symbol / Exchange: KOG / NYSE Market Capitalization: 2.4 B 52 Week H/L: 9.95 / 3.46 Shares Outstanding1: 258 MM Cash and Equivalents1: 400 MM 750 MM Revolver: 225 MM Borrowing Base Unsecured Senior Notes1: 650 MM…
  3. The Pritchard Capital Partners 9th Annual Energize Conference – Kodiak Oil & Gas Corp. – slide 3
    Pro forma net proved reserves as of 9/30/1 Oil Gas Total PV-10(MM) Category (Mb ls) (Mmcf) Mboe SEC NYMEX strip(1) PDP 14,839.6 15,043.5 17,346.8 580.5 5 4.3 PDNP 375.3 539.8 465.2 16.7 17.0 PUD 35,50 .3 40,1 7.8 42,186.6 769.4 71 .7…
  4. The Pritchard Capital Partners 9th Annual Energize Conference – Kodiak Oil & Gas Corp. – slide 4
    Rapidly Increasing Production Cash margin over time (/boe) Exit rates pro forma 91.80 acquisitions 79.15 13.58 80.28 30,000 9.68 10.33 18.95 8.83 7.46 9.05 8.14 22,000- 24,000 5.97 60.43 January 2012 Acq. 53.63 45.18…
  5. The Pritchard Capital Partners 9th Annual Energize Conference – Kodiak Oil & Gas Corp. – slide 5
    2012E Capex 2012E Capex = 585 mm Capital expenditures comparison 550 mm for drilling and completion ( in millions) 73 gross (51 net) wells 585 25 mm infrastructure investments 10 mm additional acreage acquisitions Drilling Plan…
  6. The Pritchard Capital Partners 9th Annual Energize Conference – Kodiak Oil & Gas Corp. – slide 6
    Well Economics Overview Projected long lateral wells with EUR of 650-850 Mboe with average 10 mm well economics Bakken Long Lateral 750 MBO Bakken Long Lateral 850 MBO Well cost Well cost WTI Differential midpoint NPV-10 Payout WTI…
  7. The Pritchard Capital Partners 9th Annual Energize Conference – Kodiak Oil & Gas Corp. – slide 7
    Large Contiguous Operated Acreage Position in Williston Basin 24-hour full-time dedicated frac crew retained October 2011; commencing 1Q2012 Kodiaks Williston Basin Acreage Over Time Jan 2012 NESSON ANTICLINE TREND…
  8. The Pritchard Capital Partners 9th Annual Energize Conference – 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 Acres Initial…
  9. The Pritchard Capital Partners 9th Annual Energize Conference – Kodiak Oil & Gas Corp. – slide 9
    Williston Basin East of Nesson Dunn County, ND Activity Map Dunn County Lease Position as of 11/30/2011: 34,000 net acres Original 5-year lease terms with 1-2 years remaining on existing leases Estimated long lateral Bakken…
  10. The Pritchard Capital Partners 9th Annual Energize Conference – Kodiak Oil & Gas Corp. – slide 10
    Activity East of the Nesson KOG Proposed Location 700 Wellbore Separation SC 9-2-3-12H3 TSB 2-24-12-2H Drilling IP: 1,752 BOE TSB 2-24-12-1H3 SC 2-8-17-14H3 IP: 3,083 BOE SC 2-8-17-15H Completing KOG Proposed SC 9-2-3-5H…
  11. The Pritchard Capital Partners 9th Annual Energize Conference – 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…
  12. The Pritchard Capital Partners 9th Annual Energize Conference – 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 9-2-3-5H(2) 99/81 9,500 2012 - WOCT(3) 117 SC 9-2-3-12H3 99/81 9,500 2012 - Drilling 109…
  13. The Pritchard Capital Partners 9th Annual Energize Conference – Kodiak Oil & Gas Corp. – slide 13
    Williston Basin - West of Nesson Activity Map McKenzie and Williams Counties, ND Lease Position as of 11/30/2011: 118,000 net acres (pro forma for Jan 2012 Acq) Current Economic Parameters: 10 mm drilling and completion…
  14. The Pritchard Capital Partners 9th Annual Energize Conference – Kodiak Oil & Gas Corp. – slide 14
    Koala and Smokey Prospects McKenzie County, ND KOALA 2-25-36-16H3 Estimated EUR: FLOWING BACK 2-25-36-14H3 800-900+ Mboe 2-25-36-15H BUILDING COMPLETING LOCATIONS Oil & gas pipelines KOALA 15-31-30-3H under construction KOALA…
  15. The Pritchard Capital Partners 9th Annual Energize Conference – Kodiak Oil & Gas Corp. – slide 15
    Polar Prospect Acquisition Highlights Williams County, ND MILDRED 9-4-1H POLAR STATE 16-21-1H 155-99-2-15-3-2H Operated Leasehold FLOWING BACK SPUD Q1 155-99-2-15-22-15H Non-operated Leasehold MOBILIZING RIG Oct 2011 Acq…
  16. The Pritchard Capital Partners 9th Annual Energize Conference – Kodiak Oil & Gas Corp. – slide 16
    Grizzly Prospect McKenzie County, ND GRIZZLY 149-104-15-12-1-2H: WOCT KOG GRIZZLY 25,000 net acres BLDG LOCATION Estimated EURs: 350-450+ MBoe GRIZZLY 3-25-36-15H: WOCT 3-25-13-3H: WOCT All wells hooked up to gas…
  17. The Pritchard Capital Partners 9th Annual Energize Conference – Kodiak Oil & Gas Corp. – slide 17
    McKenzie County: Historical Completion Activities Length of Daily Production (Boe/d) Rig Completion WI/NRI Number of IP 24-Hour Test Well Name Lateral Status 1 Number Date (%) Stages Boe/d 30 60 90 180 (feet) (1) Days Days…
  18. The Pritchard Capital Partners 9th Annual Energize Conference – Kodiak Oil & Gas Corp. – slide 18
    McKenzie and Williams Counties: Current Activities Rig WI/NRI Length of Completion Number of Well Name Status Number (%) Lateral(1) (feet) Date Stages (2) 328 Grizzly 3-25-36-15H 90/64 9,500 2012 - WOCT(5) (3) 118 Smokey…
  19. The Pritchard Capital Partners 9th Annual Energize Conference – Kodiak Oil & Gas Corp. – slide 19
    McKenzie and Williams Counties: Current Activities Rig WI/NRI Length of Completion Number of Well Name Status Number (%) Lateral(1) (feet) Date Stages (3) 118 Koala 15-31-30-3H 97/78 9,500 2012 - Drilling (4) 123 Smokey…
  20. The Pritchard Capital Partners 9th Annual Energize Conference – Kodiak Oil & Gas Corp. – slide 20
    Financial Strategy Kodiak has historically employed a conservative Swaps financial strategy 85.31 91.06 87.37 87.32 87.18 4,500 4,010 100 Maintain active commodity hedging program 4,000 3,500 75 3,000 Designed to protect cash…
  21. The Pritchard Capital Partners 9th Annual Energize Conference – Kodiak Oil & Gas Corp. – slide 21
    Takeaway Capacity Based on existing and announced projects, the Williston is expected to continue to have ample infrastructure to transport crude out of the basin 1H11 estimated transportation of 540 MBbl/d, increasing to over 1,400…
  22. The Pritchard Capital Partners 9th Annual Energize Conference – Kodiak Oil & Gas Corp. – slide 22
    Key Investment Highlights Drill-bit focused producer with large acreage position in oil-levered Williston Basin Pro forma 155,000 net acres in Williston Basin largely derisked with Bakken / Three Forks potential Pro forma proved…

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