Statoil enters Bakken oil play through all cash acquisition of Brigham Exploration
Statoils offer for Brigham All cash offer to Brighams shareholders Total enterprise value of approximately USD 4.7 billion including USD 238 million of assumed net interest bearing debt1 Agreed price of USD 36.5 per share Cash…
Access to high value resource base In excess of 375,000 net acres whereof 60% is considered de-risked 300 - 5001 million boe (equity) as risked resource base (Middle Bakken and Three Forks combined) Current equity production…
Excellent strategic fit adding high value barrels What does Statoil get What does Statoil bring Access to a premier US unconventional oil Strong subsurface and project management play capacity Immediate production growth and reserve…
Attractiveness of Brighamss Bakken acreage Acreage has potential to ramp up to 60,000 -100,000 boe/d equity production over 5 year period Break even of around USD 55/ boe Expected to be self financed in 2013/14 Large contiguous…
The evolution of the Bakken play 1 Production Monthy Avg. (MBoe/d) Rig Count 450 200 Montana North Dakota Monthly Avg. Rig Count 400 180 160 350 140 300 120 250 100 200 80 150 60 100 40 50 20 0 - Jan-00 Jan-01…
The Williston Basin The Bakken formation is the main reservoir Significant resources also in the Three Forks formation Resource estimates: 5 24 billion boe1 Continuous oil accumulation 38,000 square-kilometer (15,000 square-mile)…
A leading Bakken operator Success driven by strong organizational capability Entrepreneurial spirit and early mover into Bakken Ramped up drilling activity to 12 rigs Rapid production growth Consistent and strong well results…
Sustainable development Safe operations and drilling Responsible water management Minimize environmental footprint Limit surface impact CO2 efficient production Responsible corporate citizen in the local community 9
Summary Access to high value resources and immediate production growth in a premier US unconventional oil play Strong strategic fit with positions in Eagle Ford and Marcellus Step change in capacity and competence for Statoils…
Additional information The tender offer described in this communication (the Offer) has not yet commenced, and this communication is neither an offer to purchase nor a solicitation of an offer to sell any shares of the common stock of…
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