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JP Morgan Inaugural Energy Equity Conference – Whiting Petroleum Corp.

Whiting Petroleum Corp. · Jun 28, 2016 · 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. JP Morgan Inaugural Energy Equity Conference – Whiting Petroleum Corp. – slide 1
    WLL: Strongly Positioned Premier Bakken & Niobrara + 1.5 Billion Debt Reduction Corporate Presentation J.P. Morgan Energy Equity Investor Conference June 2016 NYSE: WLL
  2. JP Morgan Inaugural Energy Equity Conference – Whiting Petroleum Corp. – slide 2
    Recent Achievements Q1 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 Equity, May 10. Bakken…
  3. JP Morgan Inaugural Energy Equity Conference – 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. JP Morgan Inaugural Energy Equity Conference – 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. JP Morgan Inaugural Energy Equity Conference – 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. JP Morgan Inaugural Energy Equity Conference – 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. JP Morgan Inaugural Energy Equity Conference – 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. JP Morgan Inaugural Energy Equity Conference – 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. JP Morgan Inaugural Energy Equity Conference – Whiting Petroleum Corp. – slide 9
    Williams County Enhanced Completions Increase Initial 60-Day Average Rates Over 100% - 200% 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…
  10. JP Morgan Inaugural Energy Equity Conference – Whiting Petroleum Corp. – slide 10
    Top Tier Performer in the Bakken Initial 60-Day Average Rate (BOEPD) for Wells Completed between May 2015 and April 2016(1) 1,200 WLL 979 1,000 951 924 839 782 800 724 724 718 BOEPD 619 606 600 442 400 200 Peer…
  11. JP Morgan Inaugural Energy Equity Conference – Whiting Petroleum Corp. – slide 11
    Williston Basin Drill Times 56% Decline from Beginning of 2012 45 39.43 40 35.04 35 32.78 32.57 30.99 30.75 29.81 30 28.66 28.44 26.74 26.37 Average Days 25 23.13 23.76 20.51 20 18.08 18.62 17.16 14.42 15…
  12. JP Morgan Inaugural Energy Equity Conference – Whiting Petroleum Corp. – slide 12
    Whiting Williston Basin Gas Capture Rate 94% Current ND Gas Capture Requirement is 80%, Whitings Capture Rate is 14% Better 100% 94% 89% 90% 82% 79% 80% 80% 76% 73% 73% 74% 71% 71% 72% 72% 72% 69% 70% 70% 70% 68% Average %…
  13. JP Morgan Inaugural Energy Equity Conference – Whiting Petroleum Corp. – slide 13
    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…
  14. JP Morgan Inaugural Energy Equity Conference – Whiting Petroleum Corp. – slide 14
    Redtail Drill Times 57% Decline from Beginning of 2012 20 17.98 18 16.26 16.13 16.00 16 15.33 15.30 14.93 14.45 14.62 14.63 13.72 14 13.04 12.85 12.22 12 Average Days 10.72 10.41 10 8 7.26 6.82 6 4 2…
  15. JP Morgan Inaugural Energy Equity Conference – Whiting Petroleum Corp. – slide 15
    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…
  16. JP Morgan Inaugural Energy Equity Conference – Whiting Petroleum Corp. – slide 16
    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 -…
  17. JP Morgan Inaugural Energy Equity Conference – Whiting Petroleum Corp. – slide 17
    Strong Hedge Position(1) 49% Hedged 2016; 22% Hedged 2017 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…

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