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January 2016 Corporate Presentation – Whiting Petroleum Corp.

Whiting Petroleum Corp. · Jan 6, 2016 · 15 slides

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Slides

  1. January 2016 Corporate Presentation – Whiting Petroleum Corp. – slide 1
    A Stronger Company Corporate Presentation January 2016 NYSE: WLL
  2. January 2016 Corporate Presentation – Whiting Petroleum Corp. – slide 2
    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…
  3. January 2016 Corporate Presentation – Whiting Petroleum Corp. – slide 3
    Strong Balance Sheet Liquidity with Financial Flexibility Well Within All Financial Covenants Bond Finance Covenant: Ratio of consolidated cash flows to fixed charges Liquidity and Additional Borrowing Base Capacity ( Millions)…
  4. January 2016 Corporate Presentation – Whiting Petroleum Corp. – slide 4
    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…
  5. January 2016 Corporate Presentation – Whiting Petroleum Corp. – slide 5
    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 24Hour IP 30Day Avg. Rate Q2 2015 Q3 2015 (1) Results include 54 gross operated wells with average…
  6. January 2016 Corporate Presentation – Whiting Petroleum Corp. – slide 6
    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%…
  7. January 2016 Corporate Presentation – Whiting Petroleum Corp. – slide 7
    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 30Day Average Rate DEVELOPMENT PLAN Mix of 960 and…
  8. January 2016 Corporate Presentation – Whiting Petroleum Corp. – slide 8
    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…
  9. January 2016 Corporate Presentation – Whiting Petroleum Corp. – slide 9
    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…
  10. January 2016 Corporate Presentation – Whiting Petroleum Corp. – slide 10
    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%…
  11. January 2016 Corporate Presentation – Whiting Petroleum Corp. – slide 11
    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…
  12. January 2016 Corporate Presentation – Whiting Petroleum Corp. – slide 12
    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…
  13. January 2016 Corporate Presentation – Whiting Petroleum Corp. – slide 13
    APPENDIX NYSE: WLL 13
  14. January 2016 Corporate Presentation – Whiting Petroleum Corp. – slide 14
    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…
  15. January 2016 Corporate Presentation – Whiting Petroleum Corp. – slide 15
    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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