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June 2016 Corporate Presentation – Whiting Petroleum Corp.

Whiting Petroleum Corp. · Jun 7, 2016 · 13 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. June 2016 Corporate Presentation – Whiting Petroleum Corp. – slide 1
    WLL: Strongly Positioned Corporate Presentation June 2016 NYSE: WLL
  2. June 2016 Corporate Presentation – Whiting Petroleum Corp. – slide 2
    Q1 2016 Achievements Production Averaged 146,770 BOE/d. Bank Credit Agreement Successfully Redetermined to 2.5 Billion of Commitments on a 2.75 Billion Borrowing Base. Exchanged 477 Million of Bond Debt into Convertible Debt. Bakken…
  3. June 2016 Corporate Presentation – Whiting Petroleum Corp. – slide 3
    Balance Sheet Liquidity with Financial Flexibility As of 3/25/2016, bank credit agreement successfully redetermined to 2.5 billion of commitments on a 2.75 billion borrowing base. 1.0 billion drawn as of 3/31/2016. The bank credit…
  4. June 2016 Corporate Presentation – Whiting Petroleum Corp. – slide 4
    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 124,900 BOE/d (Q1…
  5. June 2016 Corporate Presentation – Whiting Petroleum Corp. – slide 5
    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 5
  6. June 2016 Corporate Presentation – Whiting Petroleum Corp. – slide 6
    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 1,280-acre spacing units 5,530 potential…
  7. June 2016 Corporate Presentation – Whiting Petroleum Corp. – slide 7
    92% of Potential Bakken/Three Forks Drilling Locations in Core Areas Core Areas Gross Working Gross % of Total County Name Acreage Interest Locations Locations Dunn 55,690 72.8% 406 7.4% McKenzie 161,046 66.7% 1,594 28.8%…
  8. June 2016 Corporate Presentation – Whiting Petroleum Corp. – slide 8
    Enhanced Completions Tracking 900 MBOE EUR Type Curve(1) 160,000 140,000 120,000 Barrel of Oil Equivalent 100,000 80,000 60,000 40,000 20,000 0 0.0 20.0 40.0 60.0 80.0 100.0 120.0 140.0 160.0 180.0…
  9. June 2016 Corporate Presentation – Whiting Petroleum Corp. – slide 9
    Williams County Enhanced Completions Increase 60-Day Average Rates Over 100% 1,600 1,501 1,400 1,200 1,000 904 BOE/d 800 600 452 404 400 200 0 60-Day Rate Average of Four Direct Offset Wells Average of Six Direct Offset…
  10. June 2016 Corporate Presentation – Whiting Petroleum Corp. – slide 10
    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…
  11. June 2016 Corporate Presentation – Whiting Petroleum Corp. – slide 11
    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…
  12. June 2016 Corporate Presentation – Whiting Petroleum Corp. – slide 12
    Guidance for Q2 and Full-Year 2016 Guidance Second Quarter Full Year 2016 2016 Production (MMBOE) ............................................ 12.2 - 12.7 48.1 - 50.1 Lease operating expense per BOE ......................... 8.70 -…
  13. June 2016 Corporate Presentation – Whiting Petroleum Corp. – slide 13
    Strong Hedge Position(1) 49% Hedged 2016 Weighted Average As a Percentage of Derivative Hedge Contracted Crude NYMEX Price March 2016 Instrument Period (Bbls per Month) (per Bbl) Oil Production Three-way collars (2) 2016 Q2…

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