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December 2016 Corporate Presentation – Whiting Petroleum Corp.

Whiting Petroleum Corp. · Dec 5, 2016 · 20 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. December 2016 Corporate Presentation – Whiting Petroleum Corp. – slide 1
    WLL: Strongly Positioned The Premier Bakken & Niobrara Operator Corporate Presentation December 2016 NYSE: WLL
  2. December 2016 Corporate Presentation – Whiting Petroleum Corp. – slide 2
    Recent Achievements Q3 2016 Net Cash Provided by Operating Activities of 151 Million Exceeds Capex by 66 Million. Q3 2016 Average Production of 119,890 BOE/d at High End of Guidance. Q3 2016 LOE Below Low End of Guidance at 7.98 per…
  3. December 2016 Corporate Presentation – Whiting Petroleum Corp. – slide 3
    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 105,645 BOE/d (Q3…
  4. December 2016 Corporate Presentation – Whiting Petroleum Corp. – slide 4
    Williston Basin Development Program Large Acreage Position in the Core of the Play ACREAGE P Bibler 155991631301H Carscallen 31144H 738,479 gross (443,125 net) Average IP 2,674 BOE/d Average IP 2,766 BOE/d 99% of North Dakota…
  5. December 2016 Corporate Presentation – Whiting Petroleum Corp. – slide 5
    Acreage Concentrated in Areas with First 90-Day Cumulative Production of 50+ MBOE WLL Units WLL Project Areas Source: IHS and internal Whiting production database as of 12/31/2015. NYSE: WLL 5
  6. December 2016 Corporate Presentation – Whiting Petroleum Corp. – slide 6
    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 55,385 73% 411 8% McKenzie 165,319 65% 1,547 28% Mountrail(1)…
  7. December 2016 Corporate Presentation – Whiting Petroleum Corp. – slide 7
    Enhanced Completion 5+MMLb Fracs Tracking 900 MBOE EUR Type Curve(1) Data Set Includes 48 Wells Spanning 6 Counties 200,000 180,000 160,000 140,000 Barrels of Oil Equivalent 120,000 100,000 80,000 60,000 40,000…
  8. December 2016 Corporate Presentation – Whiting Petroleum Corp. – slide 8
    Super Completion 10+MMLb Fracs Deliver Outstanding Results Tracking at or above 1,500 MBOE Type Curve 160,000 140,000 120,000 Barrel of Oil Equivalent 100,000 80,000 60,000 40,000 20,000 0 0 30 60 90 Days…
  9. December 2016 Corporate Presentation – Whiting Petroleum Corp. – slide 9
    First Super Completion Three Forks Well Exceeding 1,500 MBOE Type Curve 120,000.0 100,000.0 80,000.0 Barrels of Oil Equivalent 60,000.0 40,000.0 20,000.0 0.0 0 10 20 30 40 50 60 70 Days ROLLA FEDERAL…
  10. December 2016 Corporate Presentation – Whiting Petroleum Corp. – slide 10
    Top Performer in the Bakken Initial 90-Day Average Rate (BOEPD) for Wells Completed between October 2015 and September 2016(1) WLL 1,200 1,080 1,005 1,000 884 800 759 722 698 692 BOEPD 632 600 374 400…
  11. December 2016 Corporate Presentation – Whiting Petroleum Corp. – slide 11
    Williston Basin Drill Times(1) 63% 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 14.64 15 13.78…
  12. December 2016 Corporate Presentation – Whiting Petroleum Corp. – slide 12
    Redtail Development Program Economic Sweet Spot in Oil Window (Weld County, Colorado) ACREAGE 153,937 gross (129,035 net) acres 100% held by production, expires beyond 2018, or can be extended for approximately 3 million. Average…
  13. December 2016 Corporate Presentation – Whiting Petroleum Corp. – slide 13
    Redtail Completion Design 960-Acre 1,280-Acre Well Well Lateral Length 7,500' 10,000' Completed Well Cost 4.0 MM 4.5 MM SPUD to SPUD Time 7.0 Days 7.5 Days Lbs of Proppant 4.6 MMLbs 6.5 MMLbs Bbls of Water 200 MBbl 250 MBbl EURs…
  14. December 2016 Corporate Presentation – Whiting Petroleum Corp. – slide 14
    Innovative Environmental Stewardship Implemented green completions with closed flow back system Drilling rigs and completion crews utilize processed natural gas for fuel Utilize central tank batteries designed for 16+ wells to…
  15. December 2016 Corporate Presentation – Whiting Petroleum Corp. – slide 15
    Redtail Drill Times(1) 55% Decline from Beginning of 2012 20 17.98 18 16.00 16.26 16.13 16 15.33 15.30 14.62 14.93 14.63 14.45 13.72 14 13.04 12.85 12.22 12 Average Days 10.41 10.72 10 8 7.26 7.24 6.98 6 4 2…
  16. December 2016 Corporate Presentation – Whiting Petroleum Corp. – slide 16
    Balance Sheet Liquidity with Financial Flexibility 2.5 billion of bank credit commitments on a 2.5 billion borrowing base. Only 650 million drawn as of 9/30/2016. Bank credit agreement through 12/08/2019. Bank credit agreement…
  17. December 2016 Corporate Presentation – Whiting Petroleum Corp. – slide 17
    Debt Reduction Achieved in 2016 Debt at First Second Ultimate Maturity Rate 3312016 Exchange(1) Exchange(2) Balance 2018 6.5% 350 (49) (26) 275 2019 5.0% 1,100 (97) (42) 961 2020 1.25% 1,250 0 (688) 562 2021 5.75% 1,200 (152)…
  18. December 2016 Corporate Presentation – Whiting Petroleum Corp. – slide 18
    Strong Hedge Position(1) 68% Hedged 2016; 51% Hedged 2017 Weighted Average As a Percentage of Derivative Hedge Contracted Crude NYMEX Price September 2016 Instrument Period (Bbls per Month) (per Bbl) Oil Production Three-way…
  19. December 2016 Corporate Presentation – Whiting Petroleum Corp. – slide 19
    Guidance for Q4 and Full-Year 2016 Guidance Fourth Quarter Full Year 2016 2016 Production (MMBOE) ................................................. 10.4 - 10.8 47.0 - 47.4 Lease operating expense per BOE…
  20. December 2016 Corporate Presentation – Whiting Petroleum Corp. – slide 20
    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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