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JUNE 2012 INVESTOR PRESENTATION – Kodiak Oil & Gas Corp.

Kodiak Oil & Gas Corp. · Jun 11, 2012 · 25 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.

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  1. JUNE 2012 INVESTOR PRESENTATION – Kodiak Oil & Gas Corp. – slide 1
    Corporate Presentation June 2012 Exploring, developing and producing oil and natural gas in the U.S. Rocky Mountains. www.kodiakog.com l NYSE: KOG
  2. JUNE 2012 INVESTOR PRESENTATION – Kodiak Oil & Gas Corp. – slide 2
    Corporate Data Symbol / Exchange: KOG / NYSE Market Capitalization: 2.4 B 52 Week H/L: 10.75 / 3.59 Shares Outstanding: 263 MM Total Liquidity1: 400 MM 750 MM Revolver: 225 MM Borrowing Base Unsecured Senior Notes: 800 MM…
  3. JUNE 2012 INVESTOR PRESENTATION – Kodiak Oil & Gas Corp. – slide 3
    Rapidly Increasing Production 27,000 2012 Production Guidance Cash Margin Over Time (/BOE) Gas Sales Oil Sales 17,000-21,000 91.99 13.60 81.68 80.95 80.28 7.16 5.67 9.48 10.33 8.69 8.83 8.83 7.46 7.05 10.08 8.14…
  4. JUNE 2012 INVESTOR PRESENTATION – Kodiak Oil & Gas Corp. – slide 4
    2012E Capex 2012E Capex = 585 MM Capital Expenditures Comparison 550 MM for drilling and completion ( in millions) 73 gross (51 net) wells 585 25 MM infrastructure investments 10 MM additional acreage acquisitions 261…
  5. JUNE 2012 INVESTOR PRESENTATION – Kodiak Oil & Gas Corp. – slide 5
    Well Economics Overview Projected long lateral wells with EUR of 650-850 MBO with average 10.5 MM well economics Bakken Long Lateral 750 MBO Bakken Long Lateral 850 MBO Well cost Well cost WTI Differential midpoint NPV-10 Payout WTI…
  6. JUNE 2012 INVESTOR PRESENTATION – Kodiak Oil & Gas Corp. – slide 6
    Large Operated Acreage Position Williston Basin Williston Basin Acreage Over Time (in acres) 157,000 93,000 72,000 55,400 Aug-10 Dec-10 Jun-11 Jan-12 7
  7. JUNE 2012 INVESTOR PRESENTATION – Kodiak Oil & Gas Corp. – slide 7
    Bakken Pool Stratigraphic Column Lodgepole Upper Shale 20 Feet TOP BAKKEN Middle Bakken Reservoir 50 Feet Gamma Lower Shale Ray 35 Feet Three Forks TOP THREE Reservoir 100 Feet FORKS 8
  8. JUNE 2012 INVESTOR PRESENTATION – Kodiak Oil & Gas Corp. – slide 8
    Current Estimate of Well Locations Analysis of estimated net well locations below assuming all long-lateral development Producing Kodiak Net Assumed Drilling Total Net Kodiak Prospect Area Formation Acres Acres Well Locations…
  9. JUNE 2012 INVESTOR PRESENTATION – Kodiak Oil & Gas Corp. – slide 9
    Overview: Williston Basin East of Nesson, Dunn County, ND Dunn County Lease Position as of 3/31/2012: 34,000 net acres Original 5-year lease terms with 1-2 years remaining on existing leases Estimated long lateral Bakken EURs:…
  10. JUNE 2012 INVESTOR PRESENTATION – Kodiak Oil & Gas Corp. – slide 10
    Dunn County, ND Well Name Map WI/NRI (%) Status 5 SC 9-2-3-12H3(2) 1 99/81 WOCT(1) SC 9-2-3-5H IP: 2,174 SC 2-8-17-15H(2) 3 2 44/38 Workover SC 2-24-25-16H(4) 1 3 97/80 4 Workover 2 SC 12-7-8-9H(2) 100/81 WOCT(1) 4 CE…
  11. JUNE 2012 INVESTOR PRESENTATION – Kodiak Oil & Gas Corp. – slide 11
    Overview: Williston Basin West of Nesson, Williams & McKenzie Counties, ND McKenzie & Williams Counties, ND Lease Position as of 3/31/2012: 119,000 net acres Current Economic Parameters: 10.5 MM drilling and completion costs…
  12. JUNE 2012 INVESTOR PRESENTATION – Kodiak Oil & Gas Corp. – slide 12
    Prospect: Koala - McKenzie County Well Name Map WI/NRI (%) Koala 2-25-36-15H Status IP: 2,709 BOE (2) Koala 2-25-36-14H3 1 94/75 1 Workover 2 Polar (3) Koala 14-32-29-4H3 98/78 (1) WOCT (3) Koala 15-31-30-3H Koala…
  13. JUNE 2012 INVESTOR PRESENTATION – Kodiak Oil & Gas Corp. – slide 13
    Prospect: Smokey - McKenzie County With current drilling program, Well Name Smokey block will be HBP by Map WI/NRI (%) end of 2012 Status Smokey 3-6-7-14H 1 56/45 (1) Polar WOCT (2) Smokey 15-22-34-15H3 78/63 Workover 2 (2)…
  14. JUNE 2012 INVESTOR PRESENTATION – Kodiak Oil & Gas Corp. – slide 14
    Prospect: Polar - Williams County Well Name With current drilling Map WI/NRI (%) Status program, Polar will be HBP by end of 2013 P Peterson 155-99-2-15-22-15H(2) 69/54 Completed 1 P Peterson 155-99-2-15-22-15H3(2) 69/54 Polar…
  15. JUNE 2012 INVESTOR PRESENTATION – Kodiak Oil & Gas Corp. – slide 15
    Prospect: Grizzly - McKenzie County Smokey Grizzly Grizzly 149-104-15-12-1-2H IP: 1,026 Grizzly 3-25-13-3H IP: 508 Grizzly 3-25-36-15H IP: 689 Approximate Lateral Lengths: 9,000-10,000 * Current activities data as…
  16. JUNE 2012 INVESTOR PRESENTATION – Kodiak Oil & Gas Corp. – slide 16
    Prospect: Wildrose - Williams County 3 Wildrose 2 1 Schilke 16-21-1H WOCT(1) Well Name Map WI/NRI (%) Status Schilke 16-21-1H Polar 1 85/68 (1) WOCT Holland 9-19HT 2 61/48 (1) WOCT Ames 15-32-1H (1) Waiting…
  17. JUNE 2012 INVESTOR PRESENTATION – Kodiak Oil & Gas Corp. – slide 17
    Financial Strategy Kodiak Has Historically Employed a Conservative Financial Strategy Swaps Strive to maintain conservative balance sheet which preserves financial flexibility 10,000 9,010 125 8,105 8,000 98.22 91.86 87.12 100…
  18. JUNE 2012 INVESTOR PRESENTATION – Kodiak Oil & Gas Corp. – slide 18
    Takeaway Capacity Based on existing and announced projects, the Williston is expected to continue to have ample infrastructure to transport crude out of the basin 1H12 estimated transportation of 975 MBbl/d (525 by rail, 450 via…
  19. JUNE 2012 INVESTOR PRESENTATION – Kodiak Oil & Gas Corp. – slide 19
    US Oil Pipeline System Source: ENBRIDGE 20
  20. JUNE 2012 INVESTOR PRESENTATION – Kodiak Oil & Gas Corp. – slide 20
    Key Highlights 157,000 net acres in Williston Basin largely de-risked with Drill-bit focused producer with large Bakken/Three Forks potential acreage position in oil-levered Proved reserves of 52 Mmboe at 12/31/2011 (89% liquids)…
  21. JUNE 2012 INVESTOR PRESENTATION – Kodiak Oil & Gas Corp. – slide 21
    Appendix Historical Completion Activities 22
  22. JUNE 2012 INVESTOR PRESENTATION – Kodiak Oil & Gas Corp. – slide 22
    Historical Completion Activities Dunn County Length of IP 24hr Daily Production (Boe/d) Gas/Oil Completion WI/NRI Lateral(1) Test 30 60 90 180 360 Ratio Well Name Date (%) (feet) Boe/d Days Days Days Days Days Range Status Long…
  23. JUNE 2012 INVESTOR PRESENTATION – Kodiak Oil & Gas Corp. – slide 23
    Historical Completion Activities McKenzie County Daily Production (Boe/d) Length of IP 24hr Gas/Oil Completion WI/NRI Lateral(1) Test 30 60 90 180 360 Ratio Well Name Date (%) (feet) Boe/d Days Days Days Days Days Range Status…
  24. JUNE 2012 INVESTOR PRESENTATION – Kodiak Oil & Gas Corp. – slide 24
    Historical Completion Activities Williams County Daily Production (Boe/d) Length of IP 24hr Gas/Oil Completion WI/NRI Lateral(1) Test 30 60 90 180 360 Ratio Well Name Date (%) (feet) Boe/d Days Days Days Days Days Range Status…
  25. JUNE 2012 INVESTOR PRESENTATION – Kodiak Oil & Gas Corp. – slide 25
    Proved Reserve Summary 12/31/11 Proved Reserves and PV-10 12/31/11 reserves prepared by NSAI Jan. 2012 Acq. reserves also prepared by NSAI Pro Forma Net Proved Reserves as of 12/31/2011 Oil Gas Total SEC PV-10 Reserve Category…

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