Company Highlights 1 Oil-weighted Williston Basin operator with scalable operational capability 121,000 net acres (91,000 or 75% operated) represents sizeable position within heart of play Current drilling spacing units have upside…
EOX Overview Independent E&P company focused on Williston Basin Key Highlights and headquartered in Denver, Colorado 121,000 net acre position in the core of the Williston Average daily production for 2Q14: 3,781 Boe/d 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 Increase primarily as a result of increased drilling activity in our operated well program (1) Reserves (Mmboe) 15.0 13.2…
Reserves Summary Net Proved Resources as of 12/31/2013* Oil Gas Total PV-10 (1) Category (MBbls) (Mmcf) (Mboe) (mm) PDP 5,535 4,677 6,315 196 PDNP 1,928 1,416 2,164 44 PUD 5,765 4,232 6,470 49 Total proved 13,228 10,324 14,949…
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 90,750 658 80% 526 500 Williston…
Low Rider Type Curve Results Exceeding Expectations McKenzie County Well Results Low Rider(1) 600 Mboe 550 Mboe 500 Mboe 450 Mboe Cum Boe Days On Production 8 (1) Well results are long lateral well completions…
Recent Transaction Overview Current Leasehold Summary On 8/1/14, Emerald signed a definitive material agreement with Liberty Resources II, LLC to acquire core Williston Basin properties: 31,500 net acres highly contiguous to…
Acreage Portfolio Williston Basin Acreage by State Operated Acreage Montana 7% Non- Operated Operated 75% 25% North Dakota 93% Total Acreage: 121,000 Total Operated Acreage: 91,000 Acreage Summary (Acres) 97,000…
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 Currently…
Illustrative Net Asset Value Growth Opportunity Accelerating drilling reduces acreage development cycle for the 854 current net horizontal drilling locations by 5 years 900 854 4 rig case 800 700 3 rig case 600 500 Net…
Pure-Play Bakken Exposure At Attractive Entry Point Enterprise Value / Bakken Net Acre(1) (/Acre) 9,274 7,588 7,011 Peer Average: 7,054 4,617 4,341 KOG OAS TPLM EOX NOG Source: Public filings. Market pricing as of…
Financial Strategy Maintain adequate liquidity Emerald has 256 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) 4,500 Hedged Volumes (Bbls/d) 4,000 3,810 3,500 3,000 2,500…
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 24-Hr 30 Day 90 Day 180 Day 270 Day Pirate 1 1,801 1,025 621 512 487 Caper 1 2,063 994 678 480 425 Mongoose 1 1,523 892 619 557 463 Slugger 1 1,342 782 508 487 414 Talon 1 1,311 818 570 485 434 Arsenal 1…
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