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Raymond James Institutional Investors Conference – Whiting Petroleum Corp.

Whiting Petroleum Corp. · Mar 7, 2017 · 18 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. Raymond James Institutional Investors Conference – Whiting Petroleum Corp. – slide 1
    Whiting Petroleum Corporation Raymond James Institutional March 7, 2017 Investors Conference NYSE: WLL
  2. Raymond James Institutional Investors Conference – Whiting Petroleum Corp. – slide 2
    2016 and Recent Achievements Q4 2016 Net Cash Provided by Operating Activities of 237 Million Exceeded Capex by 115 Million. Q4 2016 Average Production of 118,890 BOE/d Above High End of Guidance. Full-Year 2016 Capex on Target at…
  3. Raymond James Institutional Investors Conference – 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 108,850 BOE/d (Q4…
  4. Raymond James Institutional Investors Conference – Whiting Petroleum Corp. – slide 4
    Williston Basin Development Program Large Acreage Position in the Core of the Play ACREAGE 735,968 gross (443,839 net) 99% of North Dakota acreage held by production. MULTIPLE TARGETS Bakken Three Forks Control the…
  5. Raymond James Institutional Investors Conference – Whiting Petroleum Corp. – slide 5
    90% 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% 409 8% McKenzie 165,719 65% 1,512 28% Mountrail(1)…
  6. Raymond James Institutional Investors Conference – Whiting Petroleum Corp. – slide 6
    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 1,000 816 800 BOEPD 692 680 572 567 600 400 328 200 Peer…
  7. Raymond James Institutional Investors Conference – Whiting Petroleum Corp. – slide 7
    Williston Basin Well Productivity Increased over 80% for 60 and 90-Day Rates Since 2014(1) 1,600 1,375 1,400 1,253 1,200 1,057 985 1,000 839 834 BOEPD 800 746 665 576 600 400 200 0 30-Day Avg. BOEPD 60-Day…
  8. Raymond James Institutional Investors Conference – Whiting Petroleum Corp. – slide 8
    Adding Value to Acquired Properties through Enhanced Completions(1) 90-Day Average Production Rates for All Wells Completed in Polar Area 2012 - 2016 1,200 Whiting 1,082 Acquires Kodiak 1,000 849 800 664 BOEPD 587 578…
  9. Raymond James Institutional Investors Conference – Whiting Petroleum Corp. – slide 9
    Q4 Williston Basin Large Volume Completions Deliver Outstanding Results(1) 180,000 160,000 140,000 120,000 100,000 BOE 80,000 60,000 40,000 20,000 - - 20 40 60 80 100 120 140 Days Average Cumulative…
  10. Raymond James Institutional Investors Conference – Whiting Petroleum Corp. – slide 10
    Williston Basin Drill Times(1) 36% Decline from Beginning of 2014 25.0 21.6 19.6 20.0 18.4 18.2 17.7 15.9 15.5 14.6 15.0 13.9 13.1 13.1 Days 12.2 10.0 5.0 0.0 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 2014…
  11. Raymond James Institutional Investors Conference – Whiting Petroleum Corp. – slide 11
    Redtail Development Program Economic Sweet Spot in Oil Window (Weld County, Colorado) ACREAGE 157,178 gross (132,184 net) acres 100% held by production, expires beyond 2018, or can be extended for approximately 3 million. Average…
  12. Raymond James Institutional Investors Conference – Whiting Petroleum Corp. – slide 12
    Redtail Drill Times Decrease 50% From Beginning of 2014(1) 14.0 12.4 12.4 11.9 12.0 11.5 11.2 10.7 10.0 9.5 9.2 8.0 6.2 6.4 Days 5.9 5.8 6.0 4.0 2.0 0.0 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 2014 2015…
  13. Raymond James Institutional Investors Conference – Whiting Petroleum Corp. – slide 13
    42% Debt Reduction Achieved Debt at First Second Ultimate Maturity Rate 3-31-2016 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)…
  14. Raymond James Institutional Investors Conference – Whiting Petroleum Corp. – slide 14
    Strong Balance Sheet Liquidity with Financial Flexibility 2.5 billion of bank credit commitments on a 2.5 billion borrowing base. Only 500 million drawn as of 2/2/2017. Bank credit agreement through 12/08/2019. Bank credit…
  15. Raymond James Institutional Investors Conference – Whiting Petroleum Corp. – slide 15
    Strong Hedge Position(1) 53% Hedged 2017 Weighted Average As a Percentage of Derivative Hedge Contracted Crude NYMEX Price December 2016 Instrument Period (Bbls per Month) (per Bbl) Oil Production Three-way collars (2) 2017 Q1…
  16. Raymond James Institutional Investors Conference – Whiting Petroleum Corp. – slide 16
    2017 Capital Budget 96% Allocated to Development that Drives Growth Non-Op Exploration Land Facilities 60MM 24MM 10MM 6MM (1) Redtail Williston Basin 420MM 580MM Williston Basin Redtail Non-Op Exploration Land Facilities…
  17. Raymond James Institutional Investors Conference – Whiting Petroleum Corp. – slide 17
    Guidance for Q1 and Full-Year 2017 23% Growth Q1 to Q4 Guidance First Quarter Full Year 2017 2017 Production (MMBOE) 10.2 - 10.6 45.0 - 46.0 Lease operating expense per BOE 8.50 - 9.50 8.50 - 9.20 General and administrative…
  18. Raymond James Institutional Investors Conference – Whiting Petroleum Corp. – slide 18
    Why Whiting Whiting is strongly positioned for multi-year growth. - Premier core position in the Bakken and Niobrara. - Technology leader. - Strong liquidity position. - Strong balance sheet with no maturities until 2019. -…

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