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UBS Global Oil and Gas Conference Presentation – Whiting Petroleum Corp.

Whiting Petroleum Corp. · May 19, 2015 · 23 slides

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Slides

  1. UBS Global Oil and Gas Conference Presentation – Whiting Petroleum Corp. – slide 1
    Whiting Petroleum Corporation ENERGY + TECHNOLOGY = GROWTH A STRONGER COMPANY SET TO PROSPER AT CURRENT PRICES NYSE: WLL UBS Oil and Gas Conference May 19, 2015
  2. UBS Global Oil and Gas Conference Presentation – Whiting Petroleum Corp. – slide 2
    Whing Petroleum A Stronger Company First Quarter 2015 Achievements 1) Record Whing Producon of 167,000 Net BOE/d in Q1 2015, Exceeds High End of Guidance. 2) Record Williston Basin Bakken/Three Forks Producon of 133,500 Net…
  3. UBS Global Oil and Gas Conference Presentation – Whiting Petroleum Corp. – slide 3
    A Focused Company Whiting Petroleum Corporation is an independent oil and gas company that explores for, develops, acquires and produces crude oil, natural gas and Williston Basin Bakken / Three Forks natural gas liquids primarily in…
  4. UBS Global Oil and Gas Conference Presentation – Whiting Petroleum Corp. – slide 4
    Strong Producon and Reserve Growth with an Oil-Driven Focus Reserves (MMBOE) Producon (MBOE/D) 900 Whi,ng Whi,ng 780(1) 160 147 800 Kodiak Kodiak 140 700 123 606 120 600 97 500 474 100 586 112 385 80 72 400…
  5. UBS Global Oil and Gas Conference Presentation – Whiting Petroleum Corp. – slide 5
    Embracing Current Commodity Prices 2015 Strategy Focused Capital Program Well Cost Reducons Opmized Drilling Program Improving Well Compleons NYSE: WLL
  6. UBS Global Oil and Gas Conference Presentation – Whiting Petroleum Corp. – slide 6
    2.0 Billion Capital Budget in 2015 50% Decrease from Whi:ng+Kodiak Capex While Producing Expected 2015 Produc:on Growth Undeveloped Facilies acreage 123 MM 59 MM Exploraon(2) Northern Rockies 61 MM 961 MM 2015 CAPEX % of…
  7. UBS Global Oil and Gas Conference Presentation – Whiting Petroleum Corp. – slide 7
    Signicant Year Over Year Cost Decreases 2014 vs 2015 Shows the Following: 28% Decrease DD&A, 13% Decrease LOE, 18% Decrease G&A 30.00 25.00 26.12 20.00 18.87 15.00 12.75 10.00 11.07 -18% 5.00 YOY 3.59…
  8. UBS Global Oil and Gas Conference Presentation – Whiting Petroleum Corp. – slide 8
    Driving Value from the Sweet Spot Concentrated Acreage Posi:on in Areas with 90-Day Cumula:ve Produc:on Per Well Greater Than 50 MBOE 774,022 net acres in Williston Basin 7,541 future gross drilling locaons in the Bakken…
  9. UBS Global Oil and Gas Conference Presentation – Whiting Petroleum Corp. – slide 9
    Strong Inial Results from Dunn, Polar and Koala(1) Average IP 2,798 BOE/d, Average 30-Day Rate 1,215 BOE/d, Average 60-Day Rate 1,004 BOE/d 3,500 3,181 3,000 2,500 2,630 2,584 2,000 BOEPD 1,500 1,395…
  10. UBS Global Oil and Gas Conference Presentation – Whiting Petroleum Corp. – slide 10
    Exploing the Bakken and Three Forks in the Williston Primary and Prospec:ve Drilling Loca:ons 14 WELLS 8 WELLS 15 WELLS 12 WELLS 16 WELLS 6 WELLS 4 WELLS 12 WELLS NYSE: WLL 11 Energy + Technology = Growth
  11. UBS Global Oil and Gas Conference Presentation – Whiting Petroleum Corp. – slide 11
    Improving Reservoir Access Cemented Liner Comple:ons Older Style Sliding Sleeve Sliding Sleeve (with Completion open annulus) Potential Frac Ports Entry Annulus Stages per Stage Points Free fluid between packers 30 1…
  12. UBS Global Oil and Gas Conference Presentation – Whiting Petroleum Corp. – slide 12
    Improving Reservoir Access 27% Performance Increase in 2014 Driven Largely by Cemented Liner Completions 2,000 1,800 1,777 1,600 1,400 1,368 1,200 1,301 1,270 BOEPD 1,000 800 802 600 611 630 541 557 543…
  13. UBS Global Oil and Gas Conference Presentation – Whiting Petroleum Corp. – slide 13
    Improving Reservoir Access Induced Fracture Density…
  14. UBS Global Oil and Gas Conference Presentation – Whiting Petroleum Corp. – slide 14
    Improving Reservoir Access Slick Water Fracs 65K 61,234 60K 55K 51,114 50K 45,301 45K 39,721 90-Day 40K Fluid Type 35,676 36,187 Avg .Cum 35K 32,781 31,613 SLICK WATER HYBRID Oil Production 30K 30,046 CROSS LINK…
  15. UBS Global Oil and Gas Conference Presentation – Whiting Petroleum Corp. – slide 15
    Williston Basin Producon Prole Per Well Results: 54% IRR at 60/Bbl NYMEX(1) 1,000 EUR - 700 MBOE(2) Nymex oil price/Bbl 55(3) 60(4) 70(5) CAPEX (MM)(6) 6.5 6.5 6.5 Daily Equivalent Producon IRR (%) 42% 54% 82% Payout…
  16. UBS Global Oil and Gas Conference Presentation – Whiting Petroleum Corp. – slide 16
    Redtail Development Program Economic Sweet Spot (Weld County, Colorado) OBJECTIVE Niobrara A Shale Niobrara B Shale Niobrara C Shale Fort Hays/Codell Niobrara & Codell Inial DEVELOPMENT PLAN 30-Day Average Rate Mix…
  17. UBS Global Oil and Gas Conference Presentation – Whiting Petroleum Corp. – slide 17
    Redtail Niobrara Producon Prole Per Well Results: 40% IRR at 60/Bbl NYMEX(1)(2) 1000 EUR - 450 MBOE(3) Nymex oil price/Bbl 55 60 70 CAPEX (MM)(4) 4.5 4.5 4.5 Daily Equivalent Production IRR (%) 30% 39% 64% Payout…
  18. UBS Global Oil and Gas Conference Presentation – Whiting Petroleum Corp. – slide 18
    Niobrara Natural Gas Processing Plants Redtail March 2015 Trailblazer REX to KC area hub to East OH hub Redtail Facilities Plan Trailblazer/REX Planned Gathering System Laterals Pony Express to Cushing,OK Gas…
  19. UBS Global Oil and Gas Conference Presentation – Whiting Petroleum Corp. – slide 19
    Whing Petroleum A Stronger Company First Quarter 2015 Achievements 1) Record Whing Producon of 167,000 Net BOE/d in Q1 2015, Exceeds High End of Guidance. 2) Record Williston Basin Bakken/Three Forks Producon of 133,500 Net…
  20. UBS Global Oil and Gas Conference Presentation – Whiting Petroleum Corp. – slide 20
    APPENDIX NYSE: WLL 21 Energy + Technology = Growth
  21. UBS Global Oil and Gas Conference Presentation – Whiting Petroleum Corp. – slide 21
    Guidance for Q2 and Full-Year 2015 Guidance Second Quarter Full-Year 2015 2015 Production (MMBOE) .................................................... 14.8 - 15.2 58.8 - 59.4 Lease operating expense per BOE…
  22. UBS Global Oil and Gas Conference Presentation – Whiting Petroleum Corp. – slide 22
    Hedge Posion Currently 36% Hedged Last Half 2015; 30% Hedged 2016 Exisng Crude Oil Hedge Posions(1) Weighted Average As a Percentage of Derivative Hedge Contracted Crude NYMEX Price March 2015 Instrument Period (Bbls per Month)…
  23. UBS Global Oil and Gas Conference Presentation – Whiting Petroleum Corp. – slide 23
    Fixed-Price Contracts Exisng Fixed-Dierenal Crude Oil Sales Contracts(1) Differential Contracted Volume from NYMEX Period (Bbls per Day) (per Bbl) 04/2015 to 12/2015 25,000 4.75 01/2016 to 12/2016 28,750 4.75 01/2017 to…

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