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MAY 2014 CORPORATE PRESENTATION – Whiting Petroleum Corp.

Whiting Petroleum Corp. · May 1, 2014 · 21 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. MAY 2014 CORPORATE PRESENTATION – Whiting Petroleum Corp. – slide 1
    Whiting Petroleum Corporation ENERGY + TECHNOLOGY = GROWTH Current Corporate Presentation NYSE: WLL May 2014
  2. MAY 2014 CORPORATE PRESENTATION – Whiting Petroleum Corp. – slide 2
    Whiting Overview Whiting Overview Whiting Petroleum Corporation, a Delaware corporation, is an independent oil and gas company that explores for, develops, acquires and produces crude oil, natural gas and natural gas liquids…
  3. MAY 2014 CORPORATE PRESENTATION – Whiting Petroleum Corp. – slide 3
    Whiting Petroleum A Company on the Move Five Significant First Quarter Achievements 1) Record Discretionary Cash Flow of 482.0 Million(1), Up 20% YoY; Record Williston Basin Production of 73,325 BOE/d, Up 27% YoY 2) Achieved First…
  4. MAY 2014 CORPORATE PRESENTATION – Whiting Petroleum Corp. – slide 4
    A Focused Company Q1 2014 Net Production 100.1 MBOE/d Williston Basin Bakken / Three Forks 3,738 Gross Potential Future 12% 4% Drilling Locations 73,325 BOE/d (Q1 2014) Redtail 84% Niobrara A and B 3,310 Gross Potential…
  5. MAY 2014 CORPORATE PRESENTATION – Whiting Petroleum Corp. – slide 5
    Capital Budget for Key Property Areas in 2014 2014 Production Growth Guidance of +17% to +19% Exploration Well Work, Misc. Northern Rockies Facilities Expense (2) 1,101 MM Costs, Other 151 MM 72 MM 150 MM 2014 CAPEX Gross Net %…
  6. MAY 2014 CORPORATE PRESENTATION – Whiting Petroleum Corp. – slide 6
    Drilling Inventory as of December 31, 2013 Total Gross Locations Up 47% YoY; Primary Gross Locations up 41% YoY YEAR-END 2013 IDENTIFIED PRIMARY LOCATIONS Gross Wells Net Wells NORTHERN ROCKIES Western Williston (Cassandra; Hidden…
  7. MAY 2014 CORPORATE PRESENTATION – Whiting Petroleum Corp. – slide 7
    Whiting Lease Areas in Williston Basin March 31, 2014 Kaldahl 113H Field Target Gross Acres Net Acres 1,930 BOE/d Sanish / Parshall Middle Bakken 174,666 82,445 (WLL Field Record) Three Forks IP Date: 4/1/14 Pronghorn Pronghorn…
  8. MAY 2014 CORPORATE PRESENTATION – Whiting Petroleum Corp. – slide 8
    Maximizing Recovery Efficiency Improving Frac Distribution Older Style Sliding Sleeve Completion Potential Frac Ports Entry Annulus Stages per Stage Points Free fluid between packers 30 1 30 New Style Cemented Liner…
  9. MAY 2014 CORPORATE PRESENTATION – Whiting Petroleum Corp. – slide 9
    Evolution of Completion Design Skov 3128 Unit(1) at Missouri Breaks Entry Cost IP Well Annulus Completion Method Stages Points (MM) Incr. (BOEPD) Incr. 1 Skov 31281H Open Sliding Sleeve 30 30 7.90 927 2 Skov 31282H Cemented P&P 3…
  10. MAY 2014 CORPORATE PRESENTATION – Whiting Petroleum Corp. – slide 10
    Williston Basin Primary and Prospective Drilling Plan MISSOURI BREAKS CASSANDRA SANISH 8 WELLS 12 WELLS 15 WELLS HIDDEN BENCH PRONGHORN TARPON 16 WELLS 6 WELLS 12 WELLS NYSE: WLL 11 Energy + Technology = Growth
  11. MAY 2014 CORPORATE PRESENTATION – Whiting Petroleum Corp. – slide 11
    Redtail Niobrara Prospect: Another Transformative MultiYear Project At Redtail Whiting Finds Another Sweet Spot (Weld County, Colorado) OBJECTIVE Niobrara B Shale Niobrara A Shale DEVELOPMENT PLAN Mix of 960 and 640acre spacing…
  12. MAY 2014 CORPORATE PRESENTATION – Whiting Petroleum Corp. – slide 12
    Redtail Development Plan 3,310 Gross (1,654 Net) Wells 16 Wells Per DSU in Upper Niobrara (A & B Zones) as of March 31, 2014 2014 2018 Development Plan Includes Approximately 1,024 Gross Wells with an 84% Average Working…
  13. MAY 2014 CORPORATE PRESENTATION – Whiting Petroleum Corp. – slide 13
    Redtail High Density Pilot Testing 32 Wells per Drilling Spacing Unit 30F Pad Drilling Density - 32 Wells/DSU - 165 ft. Target: C-B-A-B- A-B-C-B Status: Permitted Horsetail Pilot 32 Wells / 960ac DSU Planned Wells…
  14. MAY 2014 CORPORATE PRESENTATION – Whiting Petroleum Corp. – slide 14
    Redtail Niobrara A & B Type Curve: 420 MBOE Per Well Results: 85%100% IRRs(1)(2)(3) 1000 EUR 420 MBOE, Development Phase CAPEX 5.5 MM NYMEX Oil Price/Bbl 90 100 ROI 3.2 3.7 IRR (%) 85% 100% Equivalent Daily Production Payout…
  15. MAY 2014 CORPORATE PRESENTATION – Whiting Petroleum Corp. – slide 15
    Redtail Infrastructure Plan: A Great Place to Find an Oil Field April 2014 Trailblazer Kinder Morgan Redtail Facilities Plan Interstate Planned Gathering System Gas Gathering Lines 141 Miles Oil Gathering Lines 111 Miles 8…
  16. MAY 2014 CORPORATE PRESENTATION – Whiting Petroleum Corp. – slide 16
    Strong CFPS Growth While Maintaining a Healthy Balance Sheet Cash Flow Per Share Growth(1) 16.00 14.59 14.00 11.77 12.00 10.05 10.00 9.25 8.00 6.00 4.53 4.00 2.00 0.00 Net Debt to EBITDAX(2) 2009 2010 2011 2012 2013…
  17. MAY 2014 CORPORATE PRESENTATION – Whiting Petroleum Corp. – slide 17
    Oil Focused Strategy Delivers Consistently Good Margins Consistently Delivering Strong EBITDA Margins (1) Oil 88.85/Bbl NGL 52.95/Bbl Gas 6.50/Mcf 76.76 80.00/BOE 73.88 80.00 69.85 61.48 70.00 Whiting Realized Prices(1)…
  18. MAY 2014 CORPORATE PRESENTATION – Whiting Petroleum Corp. – slide 18
    NYSE: WLL Appendix
  19. MAY 2014 CORPORATE PRESENTATION – Whiting Petroleum Corp. – slide 19
    Cash Flow Per Diluted Share ( in Thousands) Reconciliation of Net Cash Provided by Operating Activities to Cash Flow Per Diluted Share Cash Flow Per Share: Year Ended December 31, 2009 2010 2011 2012 2013 Net cash provided by…
  20. MAY 2014 CORPORATE PRESENTATION – Whiting Petroleum Corp. – slide 20
    EBITDAX ( in Thousands) Reconciliation of Net Income to EBITDAX EBITDAX Reconciliation: Year Ended December 31, 2009 2010 2011 2012 2013 Net Income (Loss). (106,882) 336,653 491,628 414,099 366,003 Amortization of Deferred…
  21. MAY 2014 CORPORATE PRESENTATION – Whiting Petroleum Corp. – slide 21
    Net Debt ( in Thousands) Reconciliation of Longterm Debt to Net Debt Year Ended December 31, 2009 2010 2011 2012 2013 Longterm Debt......... 779,585 800,000 1,380,000 1,800,000 2,653,834 Less Cash................... 11,960…

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