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Enercom The Oil and Gas Conference – Northern Oil and Gas, Inc.

Northern Oil and Gas, Inc. · Aug 21, 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. Enercom The Oil and Gas Conference – Northern Oil and Gas, Inc. – slide 1
    August 2015 NYSE MKT: NOG
  2. Enercom The Oil and Gas Conference – Northern Oil and Gas, Inc. – slide 2
    NYSE MKT: NOG Shares Outstanding(1) 61.6 million Market Capitalization(2) 300 million Enterprise Value(2) 1.2 billion SEC PV-10(3) 1.7 billion Adjusted EBITDA (TTM) 301 million Average Q2 2015 Daily Production 16,600 Boepd Oil…
  3. Enercom The Oil and Gas Conference – Northern Oil and Gas, Inc. – slide 3
    We do not drill or operate wells We own minority Leasehold/Working Interest (WI) percentage in drilling spacing units (DSU) Operator of the DSU initiates/proposes drill schedule State Law requires the operator of the DSU to send all…
  4. Enercom The Oil and Gas Conference – Northern Oil and Gas, Inc. – slide 4
    100% Bakken/Three Forks Annual Production (Boepd) 100% Non-Op Business Model 20,000 Production: (2nd Quarter 2015) Averaged 16,600 BOEpd 16,000 Continued Year/Year Production Growth 12,000 Premier Non-Op Position Early mover…
  5. Enercom The Oil and Gas Conference – Northern Oil and Gas, Inc. – slide 5
    Core Inventory: 200+ Net Locations 35 - 50 WTI Breakeven Avg AFE: 7.3 million Avg EUR: 750 MBOE 10+ Years of Inventory 6
  6. Enercom The Oil and Gas Conference – Northern Oil and Gas, Inc. – slide 6
    Capital Expenditures & Production 600 18,000 Capital Expenditures: 537 Capital Expenditures ( millions) 15,800 16,000 500 15,794 Production Flat Drilling and Completion 120 million 14,000 Production (Mboe) 400 12,000…
  7. Enercom The Oil and Gas Conference – Northern Oil and Gas, Inc. – slide 7
    1) Cutting Capital & Maintain Production 2015 budget down 74% vs. 2014 budget Maintain flat year/year production on substantially reduced budget 2015 production guidance: 5.8 million BOE 2) Preserve Liquidity & Manage Balance Sheet…
  8. Enercom The Oil and Gas Conference – Northern Oil and Gas, Inc. – slide 8
    1) Continued Capital Discipline 2015 capital budget is on course with guidance 2H 2015 cash spend will be lower than 1H 2015 2) Maintain Liquidity 370 million in available liquidity No term debt maturities until 2020 3) Keep Strong…
  9. Enercom The Oil and Gas Conference – Northern Oil and Gas, Inc. – slide 9
    Percentage of Producing Wells By Operator Top 10 Operators Slawson 1 11.0% Exploration 7.5% Continental 2 Resources 20.7% 7.8% 3 Whiting Petroleum 4 Hess Less Than 2% 5.5% 5 Oasis Petroleum 11.6% 5.0% 6 EOG Resources 4.4%…
  10. Enercom The Oil and Gas Conference – Northern Oil and Gas, Inc. – slide 10
    Solid Williston Basin Foundation Northern Net Acreage Summary 22% 20% 33% 67% 78% 80% Montana North Dakota Total % Held (1) Total % Non-Held ND % Held (1) ND % Non-Held Net Acres By County Total Net Acreage: 178,000 (as…
  11. Enercom The Oil and Gas Conference – Northern Oil and Gas, Inc. – slide 11
    Proved Reserves as of 12/31/2014 ( in millions) Oil Gas Total SEC (MMBbls) (Bcf) (MMBoe) PV-10(1) P1 Category PDP 35.1 30.5 40.2 1129.2 PDNP 9.6 7.8 10.9 117.1 PUD 44.2 32.7 49.7 455.9 Total Proved Reserves 88.9 70.9 100.7…
  12. Enercom The Oil and Gas Conference – Northern Oil and Gas, Inc. – slide 12
    Disciplined - Every drilling opportunity is carefully evaluated to ensure capital is allocated to projects with highest returns. Flexible - No mandate to participate; we decide based on economics. Consistent - Land Department…
  13. Enercom The Oil and Gas Conference – Northern Oil and Gas, Inc. – slide 13
    Decreased Costs & Increased Reserves Average EUR Average AFE 800 10 766 727 9.2 9.1 AFEs down 20% from 2014 700 9 8.6 EURs up 45% from 2014 8.1 8.0 600 8 527 515 7.3 (MM) MBoe 500 7 428 407 400 6 300 5 200…
  14. Enercom The Oil and Gas Conference – Northern Oil and Gas, Inc. – slide 14
    Increasing Well Productivity, IP Rates up 30% from 2014 30,000 180,000 25,000 150,000 20,000 120,000 Cum Production (Boe) IP Rate (30 Day Cum) 15,000 90,000 10,000 60,000 5,000 30,000 - - 0 1 2 3 4 5 6 7 8 9…
  15. Enercom The Oil and Gas Conference – Northern Oil and Gas, Inc. – slide 15
    Annual Production (Boepd) Cash Flow from Operation ( millions) 20,000 300 16,000 250 200 12,000 150 8,000 100 4,000 50 0 0 2009 2010 2011 2012 2013 2014 TTM Q2'15 2009 2010 2011 2012 2013 2014 TTM Q2'15 Adjusted EBITDA (…
  16. Enercom The Oil and Gas Conference – Northern Oil and Gas, Inc. – slide 16
    TTM Q215 Unit Costs per BOE (1) 40.00 36.66 35.00 31.53 11.04 30.00 25.00 14.15 19.91 5.82 (/Boe) 20.00 18.70 17.87 15.26 3.72 5.17 2.94 15.00 1.82 6.03 11.45 4.22 2.70 5.47 5.49 10.00 2.49 19.80 3.86 5.00…
  17. Enercom The Oil and Gas Conference – Northern Oil and Gas, Inc. – slide 17
    NOG Historical Cash Operating Margins per BOE (1) 90.00 100.0% 80.00 70.00 78.79 79.77 75.85 76.2% 73.51 76.0% 75.2% 72.4% 60.00 75.0% % Margin 66.39 79.0% 65.77 72.8% (/Boe) 50.00 57.77 59.87 59.97 52.44 53.22 40.00…
  18. Enercom The Oil and Gas Conference – Northern Oil and Gas, Inc. – slide 18
    Financial Resources Liquidity 600 Reaffirmed April 2015 500 Liquidity of 369Million in millions 400 7 300 550 200 362 362 100 188 7 0 Credit Facility(1) Outstanding Available Credit Cash Available Liquidity…
  19. Enercom The Oil and Gas Conference – Northern Oil and Gas, Inc. – slide 19
    SWAPS Contract Period Volume (Bbls) Weighted Average Price (per Bbl) 2015: Q3 990,000 89.82 Q4 990,000 89.82 2016: Q1 450,000 90.00 Q2 450,000 90.00 Q3 450,000 65.00 Q4 450,000 65.00 20
  20. Enercom The Oil and Gas Conference – Northern Oil and Gas, Inc. – slide 20
    EV / Proved Reserves (YE 2014) EV / Production (TTM Q215) 25 120 100 20 /Boepd ( in thousands) 80 15 /Boe 60 10 40 5 20 0 0 EOG OAS TPLM CLR NOG EOX WLL CLR EOG OAS TPLM EOX NOG WLL As of 8/13/2015 21
  21. Enercom The Oil and Gas Conference – Northern Oil and Gas, Inc. – slide 21
    Proven Business Model Have been in the Williston since the play began - 2006 Participated in the completion of 2,500+ gross Bakken/Three Forks wells 20-25% of all Bakken/Three Forks drilling Favorable Forced Pooling Laws in North…

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