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November 2015 Investor Presentation – Whiting Petroleum Corp.

Whiting Petroleum Corp. · Nov 2, 2015 · 17 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. November 2015 Investor Presentation – Whiting Petroleum Corp. – slide 1
    A Stronger Company Set to Prosper at Current Prices November 2015 NYSE: WLL
  2. November 2015 Investor Presentation – Whiting Petroleum Corp. – slide 2
    The Plan 1. Cash Flow and Capex Equality 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. Maintain…
  3. November 2015 Investor Presentation – Whiting Petroleum Corp. – slide 3
    Q3 2015 Achievements Production Averaged 160,590 BOE/d after 8,700 BOE/d of Q2 2015 Property Sales. Enhanced Completions Contribute to 44% Quarter-over-Quarter Productivity Increases in Williston Basin. Enhanced Completion Pad at…
  4. November 2015 Investor Presentation – Whiting Petroleum Corp. – slide 4
    Strong Balance Sheet Liquidity with Financial Flexibility Bond Finance Covenant: Ratio of Well Within All Financial Covenants consolidated cash flows to fixed charges Liquidity and Additional Borrowing Base Capacity ( Millions)…
  5. November 2015 Investor Presentation – 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 130,895 BOE/d (Q3 2015) and produces crude oil, natural gas and…
  6. November 2015 Investor Presentation – 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 1,067,587 gross acres in Williston Basin 667,668 net acres in Williston Basin 7,399 future…
  7. November 2015 Investor Presentation – Whiting Petroleum Corp. – slide 7
    Q3 Results Up 44% Over Q2 30-Day Rates in Williston Basin(1) 3,000 2,440 2,500 2,000 1,650 1,500 1,102 1,000 764 500 0 24-Hour IP 30-Day Avg. Rate Q2 2015 Q3 2015 (1) Results include 54 gross operated wells with average…
  8. November 2015 Investor Presentation – Whiting Petroleum Corp. – slide 8
    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%…
  9. November 2015 Investor Presentation – Whiting Petroleum Corp. – slide 9
    Redtail Development Program Economic Sweet Spot (Weld County, Colorado) OBJECTIVE Niobrara A Shale Niobrara B Shale Niobrara C Shale Niobrara & Codell Initial Codell/Fort Hays 30-Day Average Rate DEVELOPMENT PLAN Mix of 960…
  10. November 2015 Investor Presentation – Whiting Petroleum Corp. – slide 10
    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…
  11. November 2015 Investor Presentation – Whiting Petroleum Corp. – slide 11
    Niobrara Natural Gas Processing Plant Redtail September 2015 Redtail Facilities Plan Planned Gathering System Gas Gathering Lines (Online) 141 Miles Oil Gathering Lines (Online) 128 Miles Produced Water Gathering Lines 120…
  12. November 2015 Investor Presentation – Whiting Petroleum Corp. – slide 12
    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%…
  13. November 2015 Investor Presentation – Whiting Petroleum Corp. – slide 13
    Significant Improvements in per BOE Metrics 2014 vs 2015 Shows the Following: 20% Decrease DD&A, 26% Decrease LOE, 12% Decrease G&A 30.00 25.00 26.61 20.00 21.40 15.00 10.00 11.56 8.50 5.00 3.45 3.03 0.00 DD&A LOE G&A…
  14. November 2015 Investor Presentation – Whiting Petroleum Corp. – slide 14
    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…
  15. November 2015 Investor Presentation – Whiting Petroleum Corp. – slide 15
    APPENDIX NYSE: WLL 15
  16. November 2015 Investor Presentation – Whiting Petroleum Corp. – slide 16
    Guidance for Q4 and Full-Year 2015 Guidance Fourth Quarter Full-Year 2015 2015 Production (MMBOE)(1) ................................................. 13.9 - 14.3 59.2 - 59.6 Lease operating expense per BOE…
  17. November 2015 Investor Presentation – Whiting Petroleum Corp. – slide 17
    Existing Crude Oil Hedge Positions(1) 52% Hedged Fourth Quarter 2015; 45% Hedged 2016 Weighted Average As a Percentage of Derivative Hedge Contracted Crude NYMEX Price September 2015 Instrument Period (Bbls per Month) (per Bbl) Oil…

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