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Williston Basin Petroleum Conference – Whiting Petroleum Corp.

Whiting Petroleum Corp. · May 22, 2014 · 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.

Slides

  1. Williston Basin Petroleum Conference – Whiting Petroleum Corp. – slide 1
    Whiting Petroleum Corporation ENERGY + TECHNOLOGY = GROWTH Williston Basin Petroleum Conference NYSE: WLL May 22, 2014
  2. Williston Basin Petroleum Conference – Whiting Petroleum Corp. – slide 2
    Whiting Whiting Overview Overview Whiting Petroleum Corporation, a Delaware corporation, is an independent oil and gas company that explores for, develops, acquires and produces crude oil, natural gas and natural gas liquids…
  3. Williston Basin Petroleum Conference – Whiting Petroleum Corp. – slide 3
    Whiting Petroleum A Company on the Move Five Significant First Quarter Achievements 1) Record Discretionary Cash Flow of 482.0 Million(1), Up 20% YoY; Record Williston Basin Production of 73,325 BOE/d, Up 27% YoY 2) Achieved First…
  4. Williston Basin Petroleum Conference – Whiting Petroleum Corp. – slide 4
    A Focused Company Q1 2014 Net Production 100.1 MBOE/d Williston Basin Bakken / Three Forks 3,738 Gross Potential Future 12% 4% Drilling Locations 73,325 BOE/d (Q1 2014) Redtail 84% Niobrara A and B 3,310 Gross Potential…
  5. Williston Basin Petroleum Conference – Whiting Petroleum Corp. – slide 5
    Capital Budget for Key Property Areas in 2014 2014 Production Growth Guidance of +17% to +19% Exploration Well Work, Misc. Northern Rockies Facilities Expense (2) 1,101 MM Costs, Other 151 MM 72 MM 150 MM 2014 CAPEX Gross Net %…
  6. Williston Basin Petroleum Conference – Whiting Petroleum Corp. – slide 6
    Drilling Inventory as of December 31, 2013 Total Gross Locations Up 47% YoY; Primary Gross Locations up 41% YoY YEAR-END 2013 IDENTIFIED PRIMARY LOCATIONS Gross Wells Net Wells NORTHERN ROCKIES Western Williston (Cassandra; Hidden…
  7. Williston Basin Petroleum Conference – Whiting Petroleum Corp. – slide 7
    Whiting Lease Areas in Williston Basin March 31, 2014 Kaldahl 11-3H Field Target Gross Acres Net Acres 1,930 BOE/d Sanish / Parshall Middle Bakken 174,666 82,445 (WLL Field Record) Three Forks IP Date: 4/1/14 Pronghorn Pronghorn…
  8. Williston Basin Petroleum Conference – Whiting Petroleum Corp. – slide 8
    Maximizing Recovery Efficiency Improving Frac Distribution Older Style Sliding Sleeve Sliding Sleeve (with Completion open annulus) Potential Frac Ports Entry Annulus Stages per Stage Points Free fluid between packers 30 1…
  9. Williston Basin Petroleum Conference – Whiting Petroleum Corp. – slide 9
    Evolution of Completion Design Skov 31-28 Unit(1) at Missouri Breaks Entry Entry Cost Entry Cost Cost IPIP IP Well Well Annulus Annulus Completion Completion Method Method Stages Stages Points Points (MM) (MM) Incr. Incr.…
  10. Williston Basin Petroleum Conference – Whiting Petroleum Corp. – slide 10
    Williston Basin Primary and Prospective Drilling Plan MISSOURI BREAKS CASSANDRA SANISH 8 WELLS 12 WELLS 15 WELLS HIDDEN BENCH PRONGHORN TARPON 16 WELLS 6 WELLS 12 WELLS NYSE: WLL 11 Energy + Technology = Growth
  11. Williston Basin Petroleum Conference – Whiting Petroleum Corp. – slide 11
    Plants / Pipeline Williston Basin Natural Gas Processing Plants (Robinson Lake) Gathering System Oil Gathering Lines 136 Miles Gas Gathering Lines 388 Miles Current Wells Connected (Op) 399 Current Wells Connected (Non-Op) 560…
  12. Williston Basin Petroleum Conference – Whiting Petroleum Corp. – slide 12
    Plants / Pipeline Williston Basin Natural Gas Processing Plants (Belfield) Planned Gathering System Oil Gathering Lines 143 Miles Gas Gathering Lines 137 Miles Current Wells Connected (Op) 145 Current Wells Connected (Non-Op) 26…
  13. Williston Basin Petroleum Conference – Whiting Petroleum Corp. – slide 13
    Redtail Niobrara Prospect: Another Transformative Multi-Year Project At Redtail Whiting Finds Another Sweet Spot (Weld County, Colorado) OBJECTIVE Niobrara B Shale Niobrara A Shale DEVELOPMENT PLAN Mix of 960 and 640-acre spacing…
  14. Williston Basin Petroleum Conference – Whiting Petroleum Corp. – slide 14
    Redtail Development Program Niobrara Reservoirs Niobrara Reservoir Niobrara Resource Potential (1) GR Zone Whiting RAZOR 25-2514H PHI Mineralogy BVFluid RES OOIP by Zone 0 200 30 -10 0 0.2 2000 10 Reservoir Porosity Thickness…
  15. Williston Basin Petroleum Conference – Whiting Petroleum Corp. – slide 15
    Redtail Development Program Opportunity and Challenge of Developing the Niobrara Chalks High-resolution pore structure image from Scanning Electron Microscope 5 m 5 m 7% Porosity 13% Porosity 9985 5580.2 Middle Bakken B…
  16. Williston Basin Petroleum Conference – Whiting Petroleum Corp. – slide 16
    Redtail Development Plan 3,310 Gross (1,654 Net) Wells 16 Wells Per DSU in Upper Niobrara (A & B Zones) as of March 31, 2014 2014 2018 Development Plan Includes Approximately 1,024 Gross Wells with an 84% Average Working…
  17. Williston Basin Petroleum Conference – Whiting Petroleum Corp. – slide 17
    Redtail High Density Pilot Testing 32 Wells per Drilling Spacing Unit 30F Pad Drilling Density - 32 Wells/DSU - 165 ft. Target: C-B-A-B- A-B-C-B Status: Permitted Horsetail Pilot 32 Wells / 960ac DSU Planned Wells…
  18. Williston Basin Petroleum Conference – Whiting Petroleum Corp. – slide 18
    Redtail Niobrara A & B Type Curve: 420 MBOE Per Well Results: 85%-100% IRRs(1)(2)(3) 1000 EUR - 420 MBOE, Development Phase CAPEX 5.5 MM NYMEX Oil Price/Bbl 90 100 ROI 3.2 3.7 IRR (%) 85% 100% Equivalent Daily Production…
  19. Williston Basin Petroleum Conference – Whiting Petroleum Corp. – slide 19
    Redtail Infrastructure Plan: A Great Place to Find an Oil Field April 2014 Trailblazer Kinder Morgan Redtail Facilities Plan Interstate Planned Gathering System Gas Gathering Lines 141 Miles Oil Gathering Lines 111 Miles 8…
  20. Williston Basin Petroleum Conference – Whiting Petroleum Corp. – slide 20
    Strong CFPS Growth While Maintaining a Healthy Balance Sheet Cash Flow Per Share Growth(1) 16.00 14.59 14.00 11.77 12.00 10.05 10.00 9.25 8.00 6.00 4.53 4.00 2.00 0.00 Net Debt to EBITDAX(2) 2009 2010 2011 2012 2013…
  21. Williston Basin Petroleum Conference – Whiting Petroleum Corp. – slide 21
    Oil Focused Strategy Delivers Consistently Good Margins Consistently Delivering Strong EBITDA Margins (1) Oil 88.85/Bbl NGL 52.95/Bbl Gas 6.50/Mcf 76.76 80.00/BOE 73.88 80.00 69.85 61.48 70.00 Whiting Realized Prices(1)…
  22. Williston Basin Petroleum Conference – Whiting Petroleum Corp. – slide 22
    NYSE: WLL Appendix
  23. Williston Basin Petroleum Conference – Whiting Petroleum Corp. – slide 23
    Cash Flow Per Diluted Share ( in Thousands) Reconciliation of Net Cash Provided by Operating Activities to Cash Flow Per Diluted Share Cash Flow Per Share: Year Ended December 31, 2009 2010 2011 2012 2013 Net cash provided by…
  24. Williston Basin Petroleum Conference – Whiting Petroleum Corp. – slide 24
    EBITDAX ( in Thousands) Reconciliation of Net Income to EBITDAX EBITDAX Reconciliation: Year Ended December 31, 2009 2010 2011 2012 2013 Net Income (Loss). (106,882) 336,653 491,628 414,099 366,003 Amortization of Deferred…
  25. Williston Basin Petroleum Conference – Whiting Petroleum Corp. – slide 25
    Net Debt ( in Thousands) Reconciliation of Long-term Debt to Net Debt Year Ended December 31, 2009 2010 2011 2012 2013 Long-term Debt......... 779,585 800,000 1,380,000 1,800,000 2,653,834 Less Cash................... 11,960…

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