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March 2016 Corporate Presentation – Whiting Petroleum Corp.

Whiting Petroleum Corp. · Mar 4, 2016 · 15 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. March 2016 Corporate Presentation – Whiting Petroleum Corp. – slide 1
    A Stronger Company Corporate Presentation March 2016 NYSE: WLL
  2. March 2016 Corporate Presentation – Whiting Petroleum Corp. – slide 2
    Q4 2015 Achievements Production Averaged 155,210 BOE/d after 3,300 BOE/d of Q4 2015 Property Sales, at High End of Guidance. 512 Million of Total Asset Sales in 2015. Proved Reserves Increased 5% to 820.6 MMBOE Despite 53.2 MMBOE…
  3. March 2016 Corporate Presentation – Whiting Petroleum Corp. – slide 3
    Balance Sheet Liquidity with Financial Flexibility Liquidity of 2.7 billion as of 12/31/2015. No bond maturities until 2018 and no large maturities until 2019. Well within all bank credit agreement covenants - Bank credit agreement…
  4. March 2016 Corporate Presentation – Whiting Petroleum Corp. – slide 4
    Better Liquidity Position vs. Most Peers (1) Revolver Availability plus Cash (mm) 3,500 3,000 2,891 2,743 2,714 2,500 2,500 2,000 1,887 1,857 1,807 1,779 1,808 1,500 1,417 1,401 1,298 1,245 1,000 877 500…
  5. March 2016 Corporate Presentation – Whiting Petroleum Corp. – slide 5
    A Focused Company Whiting Petroleum Corporation is an independent oil and gas company that explores for, develops, acquires Williston Basin Bakken / Three Forks and produces crude oil, natural gas and natural gas 128,585 BOE/d (Q4…
  6. March 2016 Corporate Presentation – Whiting Petroleum Corp. – slide 6
    Whiting Holds Acreage in Two Top-Tier Plays Millions NPV per Rig Year Millions Source: J.P. Morgan E&P Sector Launch December 09, 2015, Figure 181. Based on NYMEX futures strip prices as of December 09, 2015. NYSE: WLL 6
  7. March 2016 Corporate Presentation – Whiting Petroleum Corp. – slide 7
    Williston Basin Development Program Concentrated Acreage Position in Areas with 90-Day Cumulative Production Per Well Greater Than 50 MBOE OBJECTIVE Bakken Three Forks DEVELOPMENT PLAN 1280-acre spacing units 6,052 potential…
  8. March 2016 Corporate Presentation – Whiting Petroleum Corp. – slide 8
    Q4 Results Up 22% Over Q3 30-Day Rates in Williston Basin(1) 1,600 1,400 1,339 1,200 1,102 1,000 800 600 400 200 0 30-Day Avg. Rate Q3 2015 Q4 2015 (1) Results include 41 operated wells with average sand volumes of 5.2…
  9. March 2016 Corporate Presentation – Whiting Petroleum Corp. – slide 9
    Redtail Development Program Economic Sweet Spot in Oil Window (Weld County, Colorado) OBJECTIVE Niobrara A Shale Niobrara B Shale Niobrara C Shale Codell/Fort Hays DEVELOPMENT PLAN Mix of 1,280, 960 and 640-acre spacing units…
  10. March 2016 Corporate Presentation – Whiting Petroleum Corp. – slide 10
    Significant Improvements in per BOE Metrics 2014 vs 2015 Shows the Following: 20% Decrease DD&A, 22% Decrease LOE, 32% Decrease G&A 30.00 25.00 26.06 20.00 20.87 15.00 10.00 11.89 9.32 5.00 4.24 2.90 0.00 DD&A LOE G&A…
  11. March 2016 Corporate Presentation – Whiting Petroleum Corp. – slide 11
    500 Million Capital Budget in 2016 80% Decrease from 2015 Capex; 88% in Development Undeveloped Northern Rockies Facilities acreage 4 MM 182 MM 17 MM Exploration(2) 2016 CAPEX % of 50 MM Property Area (MM) Total CO2 EOR…
  12. March 2016 Corporate Presentation – Whiting Petroleum Corp. – slide 12
    Why Whiting We believe Whiting remains strongly positioned despite the record volatility and dislocation across the E&P sector - Premier, core position in the Bakken and Niobrara with significant exposure to a rebound in crude…
  13. March 2016 Corporate Presentation – Whiting Petroleum Corp. – slide 13
    APPENDIX NYSE: WLL 13
  14. March 2016 Corporate Presentation – Whiting Petroleum Corp. – slide 14
    Guidance for Q1 and Full-Year 2016 Guidance First Quarter Full Year 2016 2016 Production (MMBOE) ........................................... 13.1 - 13.6 46.8 - 50.5 Lease operating expense per BOE ........................ 8.25 -…
  15. March 2016 Corporate Presentation – Whiting Petroleum Corp. – slide 15
    Strong Hedge Position(1) 45% Hedged 2016 Weighted Average As a Percentage of Derivative Hedge Contracted Crude NYMEX Price December 2015 Instrument Period (Bbls per Month) (per Bbl) Oil Production Three-way collars (2) 2016 Q1…

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