How Did We Get Here OPEC Wants Market Share and Raises Production 3.2 MMBOPD (1.6 MMBOPD per Year) From January 2014 to January 2016 34.0 33.0 33.1 MMBOPD Million Barrels of Oil per Day 32.0 31.0 30.0…
The Result: OECD Inventories Continue to Exceed 5-Year Range but Flattening Source: International Energy Agency NYSE: WLL 3
ButGlobal Consumption Remains Strong: Up an Average of 1.4 MMBOPD per Year Total World Consumption 98.00 96.00 94.00 92.00 93.15 MMBOPD MMBOPD 90.00 88.00 86.00 87.52 MMBOPD 84.00 Source: Energy…
US, ND and CO Rig Counts Plummet US ND 2500 200 180 2000 160 140 1500 120 Rigs 100 Rigs 1000 80 60 500 40 20 0 0 CO 90 US ND CO 80 Current 514 36 19 70 60 High 1,931 189 77 50 Date 9/26/2014 9/26/2014…
U.S. Production on Steep Decline 9,700 9,610 MBOPD 9,600 9,500 9,400 9,300 MBOPD 9,200 9,100 9,000 9,077 MBOPD 8,900 8,800 Source: Bloomberg as of 2/26/2016 NYSE: WLL 6
AndThe World Will Need U.S. Tight Oil Growth Non-OPEC Oil Production Excluding U.S. and Canada Flat Since 2012 39.00 38.50 38.00 37.46 MMBOPD 37.50 MMBOPD 37.00 37.48 MMBOPD 36.50 36.00 35.50 35.00…
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…
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…
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…
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…
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 12
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…
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…
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…
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…
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…
2016 Outlook Whiting projects a 2016 capital budget of 500 million, a decrease of approximately 80% from its 2015 capital expenditures. The Company expects to invest 440 million of the 2016 capital budget on development activity…
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…
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