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Credit Suisse Energy Summit – Whiting Petroleum Corp.

Whiting Petroleum Corp. · Feb 14, 2017 · 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. Credit Suisse Energy Summit – Whiting Petroleum Corp. – slide 1
    WLL: Strongly Positioned The Premier Bakken & Niobrara Operator Credit Suisse Energy Summit February 15, 2017 NYSE: WLL
  2. Credit Suisse Energy Summit – 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…
  3. Credit Suisse Energy Summit – 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. Credit Suisse Energy Summit – Whiting Petroleum Corp. – slide 4
    Williston Basin Development Program Large Acreage Position in the Core of the Play ACREAGE 738,479 gross (443,125 net) 99% of North Dakota acreage held by production. MULTIPLE TARGETS Bakken Three Forks Control the…
  5. Credit Suisse Energy Summit – Whiting Petroleum Corp. – slide 5
    Acreage Concentrated in Areas with First 90-Day Cumulative Production of 50+ MBOE Williams Mountrail McKenzie WLL Units WLL Project Areas Dunn Source: IHS and internal Whiting production database as of 12/31/2015.…
  6. Credit Suisse Energy Summit – 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. Credit Suisse Energy Summit – Whiting Petroleum Corp. – slide 7
    Top Performer in the Bakken Initial 90-Day Average Rate (BOEPD) for Wells Completed between December 2015 and November 2016(1) WLL 1,400 1,203 1,200 997 1,000 816 BOEPD 800 692 680 572 567 600 400 328 200 Peer…
  8. Credit Suisse Energy Summit – Whiting Petroleum Corp. – slide 8
    Super Completion 10+MMLb Fracs Continue to Deliver Outstanding Results Tracking 1,500+ MBOE Type Curve(1) 250,000.0 200,000.0 Barrel of Oil Equivalent 150,000.0 100,000.0 50,000.0 0.0 0 20 40 60 80 100 120…
  9. Credit Suisse Energy Summit – Whiting Petroleum Corp. – slide 9
    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…
  10. Credit Suisse Energy Summit – Whiting Petroleum Corp. – slide 10
    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…
  11. Credit Suisse Energy Summit – Whiting Petroleum Corp. – slide 11
    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…
  12. Credit Suisse Energy Summit – Whiting Petroleum Corp. – slide 12
    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…
  13. Credit Suisse Energy Summit – Whiting Petroleum Corp. – slide 13
    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…
  14. Credit Suisse Energy Summit – Whiting Petroleum Corp. – slide 14
    41% Debt Reduction Achieved Debt at First Second Ultimate Maturity Rate 3312016 Exchange(1) Exchange(2) Balance 2018(3) 6.5% 350 (49) (26) 0 2019 5.0% 1,100 (97) (42) 961 2020 1.25% 1,250 0 (688) 562 2021 5.75% 1,200 (152)…
  15. Credit Suisse Energy Summit – Whiting Petroleum Corp. – slide 15
    Strong Hedge Position(1) 68% Hedged 2016; 53% 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…
  16. Credit Suisse Energy Summit – Whiting Petroleum Corp. – slide 16
    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…
  17. Credit Suisse Energy Summit – Whiting Petroleum Corp. – slide 17
    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. - Enhanced completions increase productivity. -…

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