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JUNE 2015 ANNUAL MEETING – Whiting Petroleum Corp.

Whiting Petroleum Corp. · Jun 2, 2015 · 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. JUNE 2015 ANNUAL MEETING – Whiting Petroleum Corp. – slide 1
    2015 Annual Meeting A Stronger Company Set to Prosper at Current Prices June 2015 NYSE: WLL
  2. JUNE 2015 ANNUAL MEETING – Whiting Petroleum Corp. – slide 2
    Whiting Petroleum A Stronger Company First Quarter 2015 Achievements 1. Record Whiting Production of 167,000 Net BOE/d in Q1 2015, Exceeds High End of Guidance. 2. Record Williston Basin Bakken/Three Forks Production of 133,500 Net…
  3. JUNE 2015 ANNUAL MEETING – Whiting Petroleum Corp. – slide 3
    Strong Balance Sheet Liquidity with Financial Flexibility Liquidity and Additional Borrowing Base Capacity as of 3/31/2015 ( Millions) 4,606 3,500 1,000 106 Cash Revolver Availability Additional Borrowing Base Capacity…
  4. JUNE 2015 ANNUAL MEETING – Whiting Petroleum Corp. – slide 4
    A Focused Company Whiting Petroleum Corporation is an independent oil Williston Basin and gas company that explores for, develops, acquires Bakken / Three Forks 133,500 BOE/d (Q1 2015) and produces crude oil, natural gas and…
  5. JUNE 2015 ANNUAL MEETING – Whiting Petroleum Corp. – slide 5
    Strong Production and Reserve Growth with an Oil-Driven Focus Reserves (MMBOE) Production (MBOE/D) 900 Whiting Whiting 167 780(1) 160 800 147 Kodiak Kodiak 140 700 123 606 120 600 474 100 97 500 586 112 385 80 72 167 400…
  6. JUNE 2015 ANNUAL MEETING – Whiting Petroleum Corp. – slide 6
    2.0 Billion Capital Budget in 2015 50% Decrease from Whiting+Kodiak Capex While Producing Expected 2015 Production Growth Undeveloped Facilities acreage 123 MM 59 MM Exploration(2) Northern Rockies 61 MM 961 MM 2015 CAPEX % of…
  7. JUNE 2015 ANNUAL MEETING – Whiting Petroleum Corp. – slide 7
    Driving Value from the Sweet Spot Concentrated Acreage Position in Areas with 90-Day Cumulative Production Per Well Greater Than 50 MBOE 774,022 net acres in Williston Basin 7,541 future gross drilling locations in the Bakken and…
  8. JUNE 2015 ANNUAL MEETING – Whiting Petroleum Corp. – slide 8
    Exploiting the Bakken and Three Forks in the Williston Primary and Prospective Drilling NYSE: WLL 8
  9. JUNE 2015 ANNUAL MEETING – Whiting Petroleum Corp. – slide 9
    Maximizing Bakken/Three Forks Recovery Efficiency(1) 2014 vs 2013 Shows the Following: 30% Increase IP, 31% Increase 30-Day Rate, 28% Increase 60-Day, 27% Increase 90-Day 2,000 1,800 1,777 1,600 1,400 1,368 1,200 1,301 1,270…
  10. JUNE 2015 ANNUAL MEETING – Whiting Petroleum Corp. – slide 10
    Strong Initial 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 1,500 1,395 1,255 1,000 1,130…
  11. JUNE 2015 ANNUAL MEETING – Whiting Petroleum Corp. – slide 11
    Pronghorn Slickwater Completions Deliver Strong Results 51% Increase in 90-Day Average Rates Versus Crosslink Completions(1) 2,500.0 2,000.0 1,963 1,500.0 1,558 1,000.0 973 870 832 743 500.0 621 552 0.0 24-Hour IP…
  12. JUNE 2015 ANNUAL MEETING – Whiting Petroleum Corp. – slide 12
    Williston Basin Production Profile 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 Production IRR (%) 42% 54% 82%…
  13. JUNE 2015 ANNUAL MEETING – Whiting Petroleum Corp. – slide 13
    Redtail Development Program Economic Sweet Spot (Weld County, Colorado) OBJECTIVE Niobrara A Shale Niobrara B Shale Niobrara C Shale Codell/Fort Hays DEVELOPMENT PLAN Niobrara & Codell Initial Mix of 960 and 640-acre spacing…
  14. JUNE 2015 ANNUAL MEETING – Whiting Petroleum Corp. – slide 14
    Redtail Niobrara Production Profile 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% 40% 64% Payout…
  15. JUNE 2015 ANNUAL MEETING – Whiting Petroleum Corp. – slide 15
    Niobrara Natural Gas Processing Plant Redtail March 2015 Redtail Facilities Plan. Planned Gathering System Gas Gathering Lines (Online) 141 Miles Oil Gathering Lines (Online 4/15) 128 Miles Produced Water Gathering Lines (Online…
  16. JUNE 2015 ANNUAL MEETING – Whiting Petroleum Corp. – slide 16
    Significant Improvements in per BOE Metrics 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 5.00 3.59 2.93 0.00 DD&A LOE G&A…
  17. JUNE 2015 ANNUAL MEETING – Whiting Petroleum Corp. – slide 17
    Whiting Petroleum A Stronger Company First Quarter 2015 Achievements 1. Record Whiting Production of 167,000 Net BOE/d in Q1 2015, Exceeds High End of Guidance. 2. Record Williston Basin Bakken/Three Forks Production of 133,500 Net…
  18. JUNE 2015 ANNUAL MEETING – Whiting Petroleum Corp. – slide 18
    APPENDIX NYSE: WLL 18
  19. JUNE 2015 ANNUAL MEETING – Whiting Petroleum Corp. – slide 19
    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…
  20. JUNE 2015 ANNUAL MEETING – Whiting Petroleum Corp. – slide 20
    Existing Crude Oil Hedge Positions(1) Currently 38% Hedged Last Half 2015; 31% Hedged 2016 Weighted Average As a Percentage of Derivative Hedge Contracted Crude NYMEX Price March 2015 Instrument Period (Bbls per Month) (per Bbl) Oil…
  21. JUNE 2015 ANNUAL MEETING – Whiting Petroleum Corp. – slide 21
    Existing Fixed-Differential 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 12/2017 33,750 4.75…

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