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Capital One Securities 11th Annual Energy Conference – Northern Oil and Gas, Inc.

Northern Oil and Gas, Inc. · Dec 8, 2016 · 24 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. Capital One Securities 11th Annual Energy Conference – Northern Oil and Gas, Inc. – slide 1
    December 2016 NYSE MKT: NOG
  2. Capital One Securities 11th Annual Energy Conference – Northern Oil and Gas, Inc. – slide 2
    Position: 156,074 Net Acres(1) Large Net Well Inventory 78% Held, 83% Held in North Dakota(1) Production: 3Q 2016 averaged 13,442 BOE/d, 86% Crude 208.9 net Producing Wells (2,743 gross)(1) 9.4 net wells-in-process(1) Resilient…
  3. Capital One Securities 11th Annual Energy Conference – Northern Oil and Gas, Inc. – slide 3
    Foundation for Continued Growth and Value Creation Northern Net Acreage Summary (2) 14% 22% 17% 78% 86% 83% Montana North Dakota Total % Held (1) Total % Non-Held ND % Held (1) ND % Non-Held Net Acres By County Total Net…
  4. Capital One Securities 11th Annual Energy Conference – Northern Oil and Gas, Inc. – slide 4
    High Quality - Oil Levered Asset Base 78 MMBoe proved reserves (86% oil)(1) Extensive multi-year drilling inventory with 200+ net locations economic at current strip pricing 9.4 net wells in process as of 9/30/2016 with an average…
  5. Capital One Securities 11th Annual Energy Conference – Northern Oil and Gas, Inc. – slide 5
    Annual Production and D&C Cap-Ex 537.5 536.9 510 16000 16,285 15,794 439.1 414.0 410 13,800 12000 Annual Production (Boepd) Cap-ex in millions 12,261 310 10,274 8000 210 5,275 4000 128.7 110 65.0 0 10…
  6. Capital One Securities 11th Annual Energy Conference – Northern Oil and Gas, Inc. – slide 6
    Decreased Costs & Increased Reserves Average EUR Average AFE 1000 10 9.3 8.9 8.9 900 9 802 794 826 8.6 8.2 8.4 772 7.4 800 727 757 726 8 7.3 7.3 7.1 7.0 6.9 700 7 6.5 600 560 571 6 5.6 5.5 518 5.0 (MM) MBoe 500…
  7. Capital One Securities 11th Annual Energy Conference – Northern Oil and Gas, Inc. – slide 7
    Focus Area Economics by Commodity Price 100% 700 MBOE: 6.5MM CWC IRR 20 700 MBOE: 6.5MM CWC PV10 18 80% 16 Single Well PV10, MM 14 60% 12 IRR 10 40% 8 6 20% 4 2 0% 0 50 WTI 11/25/2016 60 WTI 70 WTI 2.50 HH Strip…
  8. Capital One Securities 11th Annual Energy Conference – Northern Oil and Gas, Inc. – slide 8
    Technically strong operators with excellent resources and high success in the basin Top 10, by net wells, of the 43 operators with which Northern participates: Operator Gross Wells Net Wells Average WI (%) Slawson 269 44.4 16.5…
  9. Capital One Securities 11th Annual Energy Conference – Northern Oil and Gas, Inc. – slide 9
    Increasing Mix of High Intensity Completions 100% 90% 80% 70% 60% 50% 89% 88% 40% 79% 30% 59% 62% 56% 20% 38% 42% 10% 0% Q4 2014 Q1 2015 Q2 2015 Q3 2015 Q4 2015 Q1 2016 Q2 2016 Q3 2016 High Intensity Base…
  10. Capital One Securities 11th Annual Energy Conference – Northern Oil and Gas, Inc. – slide 10
    Increasing Well Productivity 240,000 2012 Cum 2013 Cum 2014 Cum 2015 Cum 220,000 2016 Cum 700 Mboe Type Curve 800 Mboe Type Curve 900 Mboe Type Curve 200,000 180,000 Cum Production (Boe) 160,000 140,000 120,000…
  11. Capital One Securities 11th Annual Energy Conference – Northern Oil and Gas, Inc. – slide 11
    Net Economic Locations by Commodity Price 561 419 273 201 156 50 WTI 11/25/2016 60 WTI 70 WTI 80 WTI 2.50 HH Strip 3.00 HH 3.50 HH 4.00 HH Sizeable inventory of undrilled locations economic at current prices…
  12. Capital One Securities 11th Annual Energy Conference – Northern Oil and Gas, Inc. – slide 12
    Internal Net Proved Reserves 10/07/2016 Strip Pricing(1) Oil Gas Total (MMBbls) (Bcf) (MMBoe) P1 Category PDP 35.1 36.5 41.2 PDNP 4.1 4.2 4.8 PUD 27.6 26.6 32.0 Total Proved Reserves 66.8 67.4 78.0 Net Proved Reserves…
  13. Capital One Securities 11th Annual Energy Conference – Northern Oil and Gas, Inc. – slide 13
    Solid Liquidity and No Near-Term Debt Maturities Liquidity2 Debt Maturity 350 700 300 600 120 250 3 500 in millions in millions 200 400 350 150 300 230 233 200 100 50 100 0 0 Credit Outstanding Available Cash…
  14. Capital One Securities 11th Annual Energy Conference – Northern Oil and Gas, Inc. – slide 14
    Northern closed and acquisition in October 2016 8.9 million purchase price Outline of leasehold acquired Net production of 380 Boepd* 3.9 net wells 3.8 net PDP wells 0.1 net PDNP wells 10.1 net potential locations 1,650…
  15. Capital One Securities 11th Annual Energy Conference – Northern Oil and Gas, Inc. – slide 15
    Protecting Liquidity and Cash Flows SWAPS Contract Period Volume (Bbls) Weighted Average Price (per Bbl) 2016: Q4 450,000 65.00 2017: Q1 630,000 51.74 Q2 631,000 51.75 Q3 632,000 53.36 Q4 632,000 53.36 2018: Q1 180,000 54.00…
  16. Capital One Securities 11th Annual Energy Conference – Northern Oil and Gas, Inc. – slide 16
    Capital Expenditures & Production 600 537 18,000 Capital Expenditures ( millions) 16,000 Ave Daily Production (Boe) 500 15,794 16,285 14,000 Production: 400 13,642 12,000 10,000 Total Production 5.0 MMBoe 300 8,000 200…
  17. Capital One Securities 11th Annual Energy Conference – Northern Oil and Gas, Inc. – slide 17
    Established an unmatched non-op position comprised of 156,000 net acres of largely HBP acreage PAST Participated in 2,743 gross (208.9 net) wells across a diversified operator base that produced 13,442 Boe per day in the 3rd Quarter…
  18. Capital One Securities 11th Annual Energy Conference – Northern Oil and Gas, Inc. – slide 18
    Percentage of Producing Wells By Operator Top 10 Operators 1 Slawson 11.2% 8.5% 2 Continental 3 Whiting 7.0% 4 Hess 5 ConocoPhillips 5.3% 21.2% 6 Oasis 7 XTO 6.5% Less Than 2% 8 EOG Resources 4.4% 9 Emerald Oil 10 Statoil…
  19. Capital One Securities 11th Annual Energy Conference – Northern Oil and Gas, Inc. – slide 19
    Takeaway Capacity Options Takeaway Capacity (Mbopd) (1) 3,500 3,000 2,500 2,000 1,500 1,000 500 - Pipeline/Refining Rail Basin Production NDIC Production Forecast Current Pipeline and rail provide multiple…
  20. Capital One Securities 11th Annual Energy Conference – Northern Oil and Gas, Inc. – slide 20
    Year Ended December 31, 2011 2012 2013 2014 2015 Production Oil (MBbls) 1,792.0 3,465.3 4,046.7 5,150.9 5,168.7 Natural Gas and NGLs 800.2 1,768.9 2,572.3 3,682.8 4,651.6 Total Production (Mboe) 1,925.3 3,760.1 4,475.4 5,764.7…
  21. Capital One Securities 11th Annual Energy Conference – Northern Oil and Gas, Inc. – slide 21
    ('s in millions) December 31, 2011 2012 2013 2014 2015 Assets Current assets 80.5 94.2 104.4 226.0 128.8 Property and equipment, net 643.7 1,083.2 1,397.3 1,761.9 589.3 Other assets 1.4 13.5 17.9 38.8 15.8 Total Assets 725.6 1,190.9…
  22. Capital One Securities 11th Annual Energy Conference – Northern Oil and Gas, Inc. – slide 22
    (/Boe, except % Margin) Year Realized Price* Production Expense Production Taxes Cash G&A Cash Margin % Margin 2010 66.39 3.70 6.16 4.09 52.44 79.0% 2011 75.85 6.77 7.43 3.88 57.77 76.2% 2012 78.79 8.61 7.58 2.64 59.96 76.1%…
  23. Capital One Securities 11th Annual Energy Conference – Northern Oil and Gas, Inc. – slide 23
    Quarter Ended September 30, June 30, March 31, December 31, (In thousands) 2016 2016 2016 2015 Net Income (Loss) (46,619) (108,979) (126,566) (172,313) Add Back: Interest Expense 16,145 16,046 16,098 16,082 Income Tax Benefit…
  24. Capital One Securities 11th Annual Energy Conference – Northern Oil and Gas, Inc. – slide 24
    2015 2014 2013 2012 2011 (In Thousands) Net (Loss) Income (975,355) 163,746 53,067 72,285 40,611 Add Back: Interest Expense 58,360 42,106 32,709 13,875 586 Income Tax Provision (Benefit) (202,424) 99,367 31,768 43,002 26,835…

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