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OGIS San Francisco 2015 – Whiting Petroleum Corp.

Whiting Petroleum Corp. · Oct 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. OGIS San Francisco 2015 – Whiting Petroleum Corp. – slide 1
    A Stronger Company Set to Prosper at Current Prices October 2015 NYSE: WLL
  2. OGIS San Francisco 2015 – Whiting Petroleum Corp. – slide 2
    The Plan 1. Cash Flow and Capex Equality 2H 2015 and 2016 at 50 NYMEX Oil. 1.0 Billion Discretionary Cash Flow Equals 1.0 Billion Total Capex Budget in 2016. 2. Continue to Grow as Prices Rise and Completed Well Costs Decline.…
  3. OGIS San Francisco 2015 – Whiting Petroleum Corp. – slide 3
    Q2 2015 Achievements Record Whiting Production of 170,245 Net BOE/d in Q2 2015, Exceeded High End of Guidance Despite 8,300 BOE/d of Asset Sales. Record Williston Basin Bakken/Three Forks Production of 135,835 Net BOE/d. Enhanced…
  4. OGIS San Francisco 2015 – Whiting Petroleum Corp. – slide 4
    Strong Balance Sheet Liquidity with Financial Flexibility Liquidity and Additional Borrowing Base Capacity as of 6/30/2015 ( Millions) 4,560 3,500 3,560 1,000 60 Cash Revolver Availability Additional Borrowing Base Capacity…
  5. OGIS San Francisco 2015 – Whiting Petroleum Corp. – slide 5
    A Focused Company Whiting Petroleum Corporation is an independent oil Williston Basin and gas company that explores for, develops, acquires Bakken / Three Forks 135,835 BOE/d (Q2 2015) and produces crude oil, natural gas and…
  6. OGIS San Francisco 2015 – Whiting Petroleum Corp. – slide 6
    Driving Value from the Sweet Spot Concentrated Acreage Position in Areas with 90-Day Cumulative Production Per Well Greater Than 50 MBOE 1,172,198 gross acres in Williston Basin 736,699 net acres in Williston Basin 7,399…
  7. OGIS San Francisco 2015 – Whiting Petroleum Corp. – slide 7
    Pronghorn Enhanced Completions Deliver 50% Production Increase Over 120 Days(1) 100,000 90,000 80,000 +50% 70,000 Cumulative Production 60,000 (BOE) 50,000 40,000 30,000 20,000 Pronghorn Average Offset Pronghorn…
  8. OGIS San Francisco 2015 – Whiting Petroleum Corp. – slide 8
    Walleye Enhanced Completions Deliver 50% Production Increase Over 60 Days(1) 70,000 60,000 +50% 50,000 Cumulative Production 40,000 (BOE) 30,000 20,000 Walleye Enhanced Completion Walleye Average Offset…
  9. OGIS San Francisco 2015 – Whiting Petroleum Corp. – slide 9
    Polar Enhanced Completions Deliver 40% Production Increase Over 60 Days(1) 70,000 60,000 50,000 +40% Cumulative Production 40,000 (BOE) 30,000 20,000 Polar Enhanced Completion Polar Average Offset 10,000…
  10. OGIS San Francisco 2015 – Whiting Petroleum Corp. – slide 10
    Enhanced Completions Exceeding 700 MBOE Type Curve(1) 100,000 90,000 80,000 70,000 Cumulative Production 60,000 (BOE) 50,000 40,000 Walleye Enhanced Completion 30,000 Pronghorn Enhanced Completion 20,000 Polar…
  11. OGIS San Francisco 2015 – Whiting Petroleum Corp. – slide 11
    Williston Basin Production Profile Per Well Results: 31% IRR at 50/Bbl NYMEX(1) 1,000 EUR - 700 MBOE(2) Nymex oil price/Bbl 50(3) 55(3) 60(4) 70(5) CAPEX (MM)(6) 6.5 6.5 6.5 6.5 Daily Equivalent Production IRR (%) 31% 42%…
  12. OGIS San Francisco 2015 – Whiting Petroleum Corp. – slide 12
    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…
  13. OGIS San Francisco 2015 – Whiting Petroleum Corp. – slide 13
    Redtail Formations and OOIP Niobrara and Codell/Ft. Hays Reservoir Niobrara and Codell/Ft. Hays Resource Potential (1) Whiting RAZOR 25-2514H GR Zone PHI Minerals BVFluid RES 0 200 30 -10 0 100 0.2 2000 OOIP by Zone Porosity…
  14. OGIS San Francisco 2015 – Whiting Petroleum Corp. – slide 14
    Codell/Fort Hays Wells Performing Well Versus 450 MBOE Type Curve 100,000 90,000 80,000 70,000 60,000 Oil Cum (BOE) 50,000 450 MBOE 40,000 (1) RAZOR 25B-2551 (FH/Codell) 30,000 RAZOR 22D-2208B (FH/Codell) RAZOR…
  15. OGIS San Francisco 2015 – Whiting Petroleum Corp. – slide 15
    Redtail Niobrara Production Profile Per Well Results: 22% IRR at 50/Bbl NYMEX(1)(2) 1000 EUR - 450 MBOE(3) Nymex oil price/Bbl 50 55 60 70 CAPEX (MM)(4) 4.5 4.5 4.5 4.5 Daily Equivalent Production IRR (%) 22% 30% 40% 64%…
  16. OGIS San Francisco 2015 – Whiting Petroleum Corp. – slide 16
    Niobrara Natural Gas Processing Plant Redtail June 2015 Redtail Facilities Plan Planned Gathering System Gas Gathering Lines (Online) 141 Miles Oil Gathering Lines (Online) 128 Miles Produced Water Gathering Lines 120 Miles…
  17. OGIS San Francisco 2015 – Whiting Petroleum Corp. – slide 17
    Significant Improvements in per BOE Metrics 2014 vs 2015 Shows the Following: 23% Decrease DD&A, 22% Decrease LOE, 19% Decrease G&A 30.00 25.00 26.88 20.00 20.81 15.00 10.00 11.85 9.25 5.00 3.56 2.90 0.00 DD&A LOE G&A…
  18. OGIS San Francisco 2015 – Whiting Petroleum Corp. – slide 18
    Why Whiting 1. Focused on Creating Value within Discretionary Cash Flow. 2. A Top Producer in the Williston Basin. Low Completed Well Cost. Low LOE per BOE. Highest Quality Acreage Position. 3. One of the Most Oil Focused…
  19. OGIS San Francisco 2015 – Whiting Petroleum Corp. – slide 19
    APPENDIX NYSE: WLL 19
  20. OGIS San Francisco 2015 – Whiting Petroleum Corp. – slide 20
    Guidance for Q3 and Full-Year 2015 Guidance Third Quarter Full-Year 2015 2015 Production (MMBOE).................................................... 14.7 - 15.1 59.2 - 59.8 Lease operating expense per BOE…
  21. OGIS San Francisco 2015 – Whiting Petroleum Corp. – slide 21
    Existing Crude Oil Hedge Positions(1) 47% Hedged Last Half 2015; 40% Hedged 2016 Weighted Average As a Percentage of Derivative Hedge Contracted Crude NYMEX Price June 2015 Instrument Period (Bbls per Month) (per Bbl) Oil…

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