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JEFFERIES 2014 GLOBAL ENERGY CONFERENCE – Northern Oil and Gas, Inc.

Northern Oil and Gas, Inc. · Nov 1, 2014 · 24 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. JEFFERIES 2014 GLOBAL ENERGY CONFERENCE – Northern Oil and Gas, Inc. – slide 1
    One Step Ahead of The Drill Bit JEFFERIES 2014 GLOBAL ENERGY CONFERENCE November 2014 NYSE MKT: NOG
  2. JEFFERIES 2014 GLOBAL ENERGY CONFERENCE – Northern Oil and Gas, Inc. – slide 2
    CORPORATE PROFILE 100% Williston Basin Bakken/Three Forks Pure Play: 185,000 Net Acres 1,300 Remaining Net Well Inventory(1) 76% of North Dakota Acreage Held(2), 64% Held in Total Produc;on: (3rd Quarter 2014) Averaged…
  3. JEFFERIES 2014 GLOBAL ENERGY CONFERENCE – Northern Oil and Gas, Inc. – slide 3
    WILLISTON BASIN ACREAGE POSITION (185,000 NET) 4
  4. JEFFERIES 2014 GLOBAL ENERGY CONFERENCE – Northern Oil and Gas, Inc. – slide 4
    KEY INVESTMENT HIGHLIGHTS Largest, Exclusively Non-operator in the Williston Basin First-mover advantage in 2006 Strong balance sheet and liquidity for drilling and addi5onal acquisi5ons Par5cipa5on in over 2,600 Bakken/Three…
  5. JEFFERIES 2014 GLOBAL ENERGY CONFERENCE – Northern Oil and Gas, Inc. – slide 5
    2014 GUIDANCE 2014 CapEx Budget ( in millions) Produc;on and Net Well Addi;ons Drilling and Comple5on* 415 5.6 5.5 MMBoe 45 Acreage and Other Expenditures 35 5.5 5.4 44 Wells Total 450 44 5.3 5.2 Produc;on (MMBoe) 5.1…
  6. JEFFERIES 2014 GLOBAL ENERGY CONFERENCE – Northern Oil and Gas, Inc. – slide 6
    Strengthening the Founda5on, Mul5-Year Growth Prole GROWING THE FRANCHISE 7
  7. JEFFERIES 2014 GLOBAL ENERGY CONFERENCE – Northern Oil and Gas, Inc. – slide 7
    ACREAGE ACQUISITION MODEL Buy Acreage One Step Ahead of the Drill Bit Deep knowledge of the Williston Basin Par5cipated in 25% of all Bakken/Three Forks wells drilled since 2006 2,197 gross producing wells; 359 gross wells…
  8. JEFFERIES 2014 GLOBAL ENERGY CONFERENCE – Northern Oil and Gas, Inc. – slide 8
    CONTINUOUS OPPORTUNITY STREAM Non-Operated Larger Operators Posi5ons from Seeking to Companies Consolidate Preferring to Operated Posi5ons Operate (Post-Acquisi5on) Operators Looking to Sell Down Smaller Par5es…
  9. JEFFERIES 2014 GLOBAL ENERGY CONFERENCE – Northern Oil and Gas, Inc. – slide 9
    HIGH-QUALITY ACREAGE PORTFOLIO Founda;on for Con;nued Growth Northern Net Acreage Summary 23% 24% 36% 64% 77% 76% Montana North Dakota Total % Held (1) Total % Non-Held ND % Held (1) ND % Non-Held Net Acres By…
  10. JEFFERIES 2014 GLOBAL ENERGY CONFERENCE – Northern Oil and Gas, Inc. – slide 10
    CURRENTLY DRILLING IN THE CORE 93% of Current Drilling Located in the Big Four Coun;es Mountrail McKenzie 27% 30% Other 7% 10% 26% Williams Dunn 11
  11. JEFFERIES 2014 GLOBAL ENERGY CONFERENCE – Northern Oil and Gas, Inc. – slide 11
    PARTNERED WITH LEADING OPERATORS Percentage of PDPs By Operator Top 10 Operators Slawson 1 Explora5on 10.8% Con5nental 7.2% 2 Resources 21.5% 6.2% 3 Hess 5.5% 4 Whi5ng Petroleum Less Than 2% 5 Oasis…
  12. JEFFERIES 2014 GLOBAL ENERGY CONFERENCE – Northern Oil and Gas, Inc. – slide 12
    High Cash Margin (93% Oil) Produc5on WILLISTON BASIN ECONOMICS 13
  13. JEFFERIES 2014 GLOBAL ENERGY CONFERENCE – Northern Oil and Gas, Inc. – slide 13
    HIGH CASH OPERATING MARGIN Historical Cash Opera;ng Margins per BOE (1) 100.00 100.0% 79.0% 80.00 69.0% 75.85 76.2% 78.79 76.0% 79.77 75.2% 73.2% % Margin 77.74 75.0% (/Boe) 60.00 66.39 57.77 59.87 59.97…
  14. JEFFERIES 2014 GLOBAL ENERGY CONFERENCE – Northern Oil and Gas, Inc. – slide 14
    LOW COSTS + HIGH MARGINS Strong Fundamental Performance in Key Opera;onal Metrics Three-Year F&D Cost 2011-2013 (/Boe)(1) Cash Opera;ng Margin TTM 09/30/2014 (/Boe) 30.0 60.0 25.0 50.0 20.0 40.0 15.0 30.0…
  15. JEFFERIES 2014 GLOBAL ENERGY CONFERENCE – Northern Oil and Gas, Inc. – slide 15
    LEADING CAPITAL EFFICIENCY Northern Generated 3.17 in EBITDA for Each 1.00 Invested in F&D 500% 450% 450% 400% 355% 350% 317% 300% 257% 250% 204% 200% 183% 160% 150% 100% 50% 0% CLR OAS NOG KOG…
  16. JEFFERIES 2014 GLOBAL ENERGY CONFERENCE – Northern Oil and Gas, Inc. – slide 16
    CONSISTENT ANNUAL PRODUCTION GROWTH Consistent Growth 18,000 200 16,000 15,300 180 14,000 160 12,261 140 Net Producing Wells Produc;on (Boepd) 12,000 10,274 120 10,000 100 8,000 80 5,275 6,000…
  17. JEFFERIES 2014 GLOBAL ENERGY CONFERENCE – Northern Oil and Gas, Inc. – slide 17
    REPEATABLE EXECUTION Consistent Execu;on of Business Strategy Oil & Gas Sales (MM) (1) Adjusted EBITDA (MM)(2) 500.0 350.0 450.0 436.3 299.6 300.0 400.0 268.0 369.2 250.0 350.0 225.3 296.6 300.0 200.0…
  18. JEFFERIES 2014 GLOBAL ENERGY CONFERENCE – Northern Oil and Gas, Inc. – slide 18
    Capital and Liquidity to Con5nue Growth Path FINANCIAL OVERVIEW 19
  19. JEFFERIES 2014 GLOBAL ENERGY CONFERENCE – Northern Oil and Gas, Inc. – slide 19
    LIQUIDITY RESOURCES FOR GROWTH Financial Resources to Stay One Step Ahead Liquidity 600 500 [VALUE] Liquidity of in millions 400 330 Million 550 300 8 200 322 322 100 8 0 Credit Facility(1)…
  20. JEFFERIES 2014 GLOBAL ENERGY CONFERENCE – Northern Oil and Gas, Inc. – slide 20
    IMPROVING CAPITAL EFFICIENCIES Organic Disciplined Growth 16,000 700 15,300 15,000 650 Capital Expenditures (MM) Annual Produc;on (Boepd) 14,000 600 13,000 12,261 12,000 538 550 11,000 10,274 500…
  21. JEFFERIES 2014 GLOBAL ENERGY CONFERENCE – Northern Oil and Gas, Inc. – slide 21
    CAPITAL INVESTMENTS Acquisi;on and Development Investment (1) Capital Shiling to Development (1) 600 100% Percentage of Total Capital Investment 537.5 90% Capital Investment ( in millions) 500 38% 450 80%…
  22. JEFFERIES 2014 GLOBAL ENERGY CONFERENCE – Northern Oil and Gas, Inc. – slide 22
    PROTECTING FINANCIAL STRENGTH SWAPS COSTLESS COLLARS Weighted Weighted Average Floor/ Average Floor/ Contract Volume Ceiling Price Volume Ceiling Price Period (Bbls) (Bbl) (Bbls) (Bbl) 2014: Q4 975,000 89.77 60,000 90.00 -…
  23. JEFFERIES 2014 GLOBAL ENERGY CONFERENCE – Northern Oil and Gas, Inc. – slide 23
    WHY NORTHERN TODAY Proven Acquisi;on Model Acquire High-Poten;al Acreage Par5cipated in over 2,500 Bakken/Three Forks wells; 25% of all Bakken/TF Drilling Deep Knowledge of the Bakken and Three Forks Go-To Non-Op Acreage Buyer…
  24. JEFFERIES 2014 GLOBAL ENERGY CONFERENCE – Northern Oil and Gas, Inc. – slide 24
    LEADING PERFORMANCE AT A VALUE PRICE EV / Proved Reserves (YE 2013) EV / Produc;on (TTM Q314) 35 200 180 30 160 /Boepd ( in thousands) 25 140 120 20 /Boe 100 15 80 10 60 40 5 20 0 0 KOG…

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