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Q1 2014 EARNINGS CALL – Oasis Petroleum Inc.

Oasis Petroleum Inc. · May 6, 2014 · 27 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. Q1 2014 EARNINGS CALL – Oasis Petroleum Inc. – slide 1
    INVESTOR PRESENTATION May 2014 1 www.oasispetroleum.com
  2. Q1 2014 EARNINGS CALL – Oasis Petroleum Inc. – slide 2
    Top Pure Play in the Bakken(1) Top tier asset position 506,960 net acres 3,590 Gross operated locations 403 Operated drill blocks 17 years of inventory(2) Production on target with a strong reserve base Q1 2014 production 42.9…
  3. Q1 2014 EARNINGS CALL – Oasis Petroleum Inc. – slide 3
    Large, Concentrated Acreage Blocks(1) Highlights West Williston East Nesson Concentrated position in Williston Basin: Montana North Dakota 507k net acres West Williston: 362K net acres (92) East Nesson: 145K net acres…
  4. Q1 2014 EARNINGS CALL – Oasis Petroleum Inc. – slide 4
    Growing Inventory(1) Inventory Highlights Remaining Drilling Locations 3,590 gross operated locations across 506,960 net acres 4,000 94% of net locations are operated 3,590 68% average working interest in operated 3,500…
  5. Q1 2014 EARNINGS CALL – Oasis Petroleum Inc. – slide 5
    Production and Reserve Growth Continues Average Daily Production (MBoepd)(1) Estimated Net Proved Reserves (MMBoe)(2) 60 250 46-50 50 219.3 43-46 200 42.1 42.9 40 33.1 33.9 150 30.2 30.2 143.3 30 22.5 100 113.7 20 78.7…
  6. Q1 2014 EARNINGS CALL – Oasis Petroleum Inc. – slide 6
    2014 Plan 2014 Focus Items 2014 Guidance Inventory acceleration with 16 rigs Metric 2014 Range Production (MBoepd) Full field development with best practices Full Year 2014 46.0 - 50.0 2Q14 43.0 - 46.0 Optimizing downspacing Full…
  7. Q1 2014 EARNINGS CALL – Oasis Petroleum Inc. – slide 7
    Capital Allocation Capital Discipline 2014 Rig Allocation Rig allocation designed to: Maximize asset value Increase returns across inventory portfolio MONTANA NORTH Balance infrastructure capacity DAKOTA Approximately 55% of…
  8. Q1 2014 EARNINGS CALL – Oasis Petroleum Inc. – slide 8
    2014 Completion Techniques Improving Capital Efficiency Slickwater Completions West Williston Completing 60% of wells in 2H14 with alternative completion techniques White Unit Illustrative well spacing Red Bank Improving economics…
  9. Q1 2014 EARNINGS CALL – Oasis Petroleum Inc. – slide 9
    Slickwater Results (1) Indian Hills Results (Cumulative Time Plot) % Increase over Surrounding Wells (Boe) 90,000 40% 80,000 30% 30% 70,000 30% 25% 60,000 50,000 20% 40,000 30,000 20,000 10% 28 slickwater 33 slickwater…
  10. Q1 2014 EARNINGS CALL – Oasis Petroleum Inc. – slide 10
    Attractive Well Costs and Economics Lowering Well Costs Compelling Well Economics (MM) Oasis Bakken EURs vary across our acreage 10 9.7 position from 450 MBoe to 750 Mboe 9.4 7.9 8 7.6 Oasis applies different completion…
  11. Q1 2014 EARNINGS CALL – Oasis Petroleum Inc. – slide 11
    Attractive Economics Across Acreage Position Driving Returns Across the Position Hebron Actual Production Results (Boe) Oasis well costs and completion techniques drive 140,000 strong economics across all bands of the type curve…
  12. Q1 2014 EARNINGS CALL – Oasis Petroleum Inc. – slide 12
    Lower Three Forks Activity Improving Inventory Potential Lower TFS Activity Preliminary results from producing lower bench TFS wells are very encouraging Oasis expects to complete 30 wells in TFS2 and TFS3 MONTANA NORTH Delta Shaw…
  13. Q1 2014 EARNINGS CALL – Oasis Petroleum Inc. – slide 13
    Pad Development Transition to Full Pad Development 8 Well Simultaneous Operations 90% of drilling in 2014 will be on multi-well pads with increasing pad size Multi-well pads reduce per well capital costs by approximately 5-10%…
  14. Q1 2014 EARNINGS CALL – Oasis Petroleum Inc. – slide 14
    Oasis Well Services (OWS) OWS savings per well 2014 Plan (000s) 500 2nd frac spread delivery expectations in 1H14; will 400 400 400 ramp to 100% utilization by 2H14 2 spreads will complete 50-60% of Oasis 300 250 operated…
  15. Q1 2014 EARNINGS CALL – Oasis Petroleum Inc. – slide 15
    Infrastructure Development(1) Infrastructure Highlights Crude Oil Gathering Infrastructure MONTANA NORTH DAKOTA Crude oil gathering (3rd party system) Realized 9.1% differential in 1Q14 (11.8% in 4Q13) North Provides marketing…
  16. Q1 2014 EARNINGS CALL – Oasis Petroleum Inc. – slide 16
    Balance Sheet Strong Balance Sheet and Liquidity Liquidity and Capitalization as of 3/31/14 (MM) Liquidity of 1.5 BN Cash and marketable securities 56 Borrowing base of 1.75BN Current elected commitments 1,500 Elected commitments…
  17. Q1 2014 EARNINGS CALL – Oasis Petroleum Inc. – slide 17
    Investment Highlights Oil focused, pure play in the Williston Basin Large, concentrated acreage position with increasing identified drilling inventory Substantial upside potential with known catalysts Improving capital and…
  18. Q1 2014 EARNINGS CALL – Oasis Petroleum Inc. – slide 18
    APPENDIX 19 www.oasispetroleum.com
  19. Q1 2014 EARNINGS CALL – Oasis Petroleum Inc. – slide 19
    Risk Management(1) Weighted Average Prices (/Bbl) Type Remaining Term Sub-Floor Floor Ceiling Swaps BOPD Total Barrels 2014 Full Year Swaps Apr - Dec 95.90 9,500 2,612,500 Swaps w/Sub-Floor Apr - Dec 70.00 92.60 6,000 1,650,000…
  20. Q1 2014 EARNINGS CALL – Oasis Petroleum Inc. – slide 20
    Type Curves in Williston Basin(1) Middle Bakken Type Curve (Mboe) TFS Type Curve (Mboe) High Midpoint High Low Midpoint Low Years Years Middle Bakken Type Curve Metrics TFS Type Curve Low End Midpoint High End Low End…
  21. Q1 2014 EARNINGS CALL – Oasis Petroleum Inc. – slide 21
    Expanding Takeaway Capacity out of Bakken (1) Mbopd Production Takeaway Capacity 3,000 2,500 2,000 1,500 February 2014 production: 1,027MBopd (2) 1,000 500 - 2007 2008 2009 2010 2011 2012 2013 2014 2015…
  22. Q1 2014 EARNINGS CALL – Oasis Petroleum Inc. – slide 22
    Oil Weighted Production WTI Henry Hub Price Disparity (/bbl to /Mmbtu)(1) Oasis Oil and Gas Production (per Mboe) Price Ratio Mboepd % Oil 120 60x 45.0 4.5 100% 4.6 40.0 90% 100 50x 80% 35.0 99.76 2.8 3.6 2.6 70% 80 40x…
  23. Q1 2014 EARNINGS CALL – Oasis Petroleum Inc. – slide 23
    Key Metrics by Project Area Total Key Statistics West Williston East Nesson 2014 CapEx Budget (MM) Williston (1) Net a crea ge (000s ) 362 145 507 Dri l l i ng a nd compl eti on 1,250 (1) Es ti ma ted net PDP - MMBoe 79.5 34.3…
  24. Q1 2014 EARNINGS CALL – Oasis Petroleum Inc. – slide 24
    Williston Inventory (1) Gross Net Bakken TFS Total Bakken TFS Total Operated PUD Wells West Williston 201 53 254 134 33 167 East Nesson 85 19 104 61 12 73 Total PUD Wells 286 72 358 195 45 240 Non-Proven Wells West Williston 829…
  25. Q1 2014 EARNINGS CALL – Oasis Petroleum Inc. – slide 25
    Bakken / TFS Drilling Program by Project Area(1) Bakken / Three Forks Producing Wells West Williston East Nesson Sanish Total Williston Basin Gross Net Gross Net Gross Net Gross Net Producing on or before 12/31/13 Operated 311…
  26. Q1 2014 EARNINGS CALL – Oasis Petroleum Inc. – slide 26
    Financial and Operational Results / Guidance Actual Select Operating Metrics FY 10 FY11 1Q 12 2Q 12 3Q 12 4Q 12 FY12 1Q 13 2Q 13 3Q 13 4Q 13 FY13 1Q 14 2Q 14 FY14 Production (MBoepd) 5.2 10.7 17.6 20.4 24.3 27.6 22.5 30.2 30.2 33.1…
  27. Q1 2014 EARNINGS CALL – Oasis Petroleum Inc. – slide 27
    Key Company Facts / External Support Oasis Petroleum Inc. Exchange / Ticker NYSE / OAS Shares Outstanding (as of 3/31/13) 101.2 MM Share Price (close on 5/2/14) 46.36 per share Approximate Equity Market Capitalization 4.7BN…

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