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Q1 2017 Investor Presentation – Northern Oil and Gas, Inc.

Northern Oil and Gas, Inc. · May 8, 2017 · 21 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. Q1 2017 Investor Presentation – Northern Oil and Gas, Inc. – slide 1
    May 2017 NYSE MKT: NOG
  2. Q1 2017 Investor Presentation – Northern Oil and Gas, Inc. – slide 2
    Position: 151,672 net acres(1) Large net well inventory 82% held, 84% held in North Dakota(1) Production: 1Q 2017 averaged 13,299 BOE/d, 85% crude 214.6 net producing wells (2,973 gross)(1) 15.9 net wells-in-process(1) Hedges…
  3. Q1 2017 Investor Presentation – Northern Oil and Gas, Inc. – slide 3
    Northern Net Acreage Summary (2) 12% 18% 16% 88% 82% 84% North Dakota Montana Total % Held (1) Total % Non-Held ND % Held (1) ND % Non-Held Net Acres By County Total Net Acreage: 151,672 (as of 3/31/17) 30,490 ND: 133,967…
  4. Q1 2017 Investor Presentation – Northern Oil and Gas, Inc. – slide 4
    Extensive well database from the evaluation and participation in over 3000 gross wells in the basin drives investment decisions A sizable inventory of undrilled locations for future investment Net Undeveloped Breakeven…
  5. Q1 2017 Investor Presentation – Northern Oil and Gas, Inc. – slide 5
    Increased activity levels has resulted in an increase in the number of inbound AFEs Permitting levels on Northerns acreage over the last 180 days supports continued investment opportunities Williston Basin Activity(1) 100…
  6. Q1 2017 Investor Presentation – Northern Oil and Gas, Inc. – slide 6
    Committing Capital to the Highest Return Wells 50% Average IRR 10.0 Average AFE Costs 47% 9.0 45% 9.0 9.3 8.4 7.9 40% 37% 8.0 8.6 7.5 7.6 37% 36% 7.3 8.2 7.1 6.9 6.8 35% 33% 7.0 6.6 7.3 29% 6.7 6.8 30% 28% 6.0 6.5 26%…
  7. Q1 2017 Investor Presentation – Northern Oil and Gas, Inc. – slide 7
    Increasing Mix of High Intensity Completions 100% 90% 80% 70% 60% 50% 100% 98% 89% 90% 40% 79% 30% 59% 62% 56% 20% 39% 42% 10% 0% Q4 '14 Q1 '15 Q2 '15 Q3 '15 Q4 '15 Q1 '16 Q2 '16 Q3 '16 Q4 '16 Q1 '17 High Intensity…
  8. Q1 2017 Investor Presentation – Northern Oil and Gas, Inc. – slide 8
    CCU Golden Creek 2-1-26MBH Fort Berthold 148-94-36D-25-10H 3 BB-Eide-LE-151-95-3328H-1 4 Rolfson S 5198 14-29 12B 5 Carscallen 31-14H 1 Burlington (2016) 2 Halcon (2016) Hess (2016) Oasis (2016) Whiting (2016) Peak 30: 1,064 Boepd (90%…
  9. Q1 2017 Investor Presentation – Northern Oil and Gas, Inc. – slide 9
    Increasing Well Productivity 240,000 2012 - 2014 Cum 2015 Cum 220,000 2016 Cum 200,000 700 Mboe Type Curve 180,000 800 Mboe Type Curve 900 Mboe Type Curve Cum Production (Boe) 160,000 140,000 120,000 100,000…
  10. Q1 2017 Investor Presentation – Northern Oil and Gas, Inc. – slide 10
    Superior Well Performance 400,000 Average 350,000 700 Mboe TC 800 Mboe TC 300,000 900 Mboe TC Cum Production (Boe) 250,000 200,000 150,000 100,000 50,000 - - 30 60 90 120 150 180 210 240 270 300 330 360…
  11. Q1 2017 Investor Presentation – Northern Oil and Gas, Inc. – slide 11
    Economics by EUR & Commodity Price 106% 900 Mboe: 7MM CWC 100% 800 Mboe: 7MM CWC 700 Mboe: 7MM CWC 78% 80% 64% 60% IRR 48% 60% 40% 35% 26% 38% 20% 21% 0% 50 WTI 60 WTI 70 WTI 3.00 HH 3.00 HH 3.00 HH 12 Source:…
  12. Q1 2017 Investor Presentation – Northern Oil and Gas, Inc. – slide 12
    Production vs Capital Expenditures 537.5 536.9 510 16000 16,285 439.1 15,794 414.0 13,933 410 13,552 13,442 13,688 13,653 13,700 13,299 12000 Production (Boepd) Cap-ex in millions 12,261 310 10,274 8000 210…
  13. Q1 2017 Investor Presentation – Northern Oil and Gas, Inc. – slide 13
    Protecting Liquidity and Cash Flows Swaps(1) Collars(1) Weighted Weighted Contract Volume Average Price Volume Average Price Period (Bbls) (per Bbl) (Bbls) (per Bbl) 2017: 2Q 631,000 51.75 75,000 50.00 - 60.06 3Q 632,000 53.36…
  14. Q1 2017 Investor Presentation – Northern Oil and Gas, Inc. – slide 14
    Capital Expenditures(1) & Production 600 15,794 16,285 18,000 Capital Expenditures ( millions) 16,000 Ave Daily Production (Boe) 500 13,653 13,700 537 14,000 Production: 400 12,000 10,000 Total Production 5.0 MMBoe 300…
  15. Q1 2017 Investor Presentation – Northern Oil and Gas, Inc. – slide 15
    De-risked non-op position comprised of over 151,000 net acres of largely Dominate Non-op HBP acreage Position in the Participated in approximately 20% of gross wells drilled and completed Williston Basin to the Bakken & Three Forks;…
  16. Q1 2017 Investor Presentation – Northern Oil and Gas, Inc. – slide 16
    17
  17. Q1 2017 Investor Presentation – Northern Oil and Gas, Inc. – slide 17
    Takeaway Options Takeaway Capacity (Mbopd) (1) 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 destinations for…
  18. Q1 2017 Investor Presentation – Northern Oil and Gas, Inc. – slide 18
    Year Ended December 31, Production: 2012 2013 2014 2015 2016 Oil (MBbls) 3,465.3 4,046.7 5,150.9 5,168.7 4,325.9 Natural Gas and NGLs 1,768.9 2,572.3 3,682.8 4,651.6 4,026.9 Total Production (Mboe) 3,760.1 4,475.4 5,764.7 5,944.0…
  19. Q1 2017 Investor Presentation – Northern Oil and Gas, Inc. – slide 19
    December 31, ('s in millions) 2012 2013 2014 2015 2016 Assets Current assets 94.2 104.4 226.0 128.8 46.9 Property and equipment, net 1,083.2 1,397.3 1,761.9 589.3 376.2 Other assets 13.5 17.9 38.8 15.8 8.4 Total Assets 1,190.9…
  20. Q1 2017 Investor Presentation – Northern Oil and Gas, Inc. – slide 20
    Quarter Ended March 31, December 31, September 30, June 30, (In thousands) 2017 2016 2016 2016 Net Income (Loss) 16,941 (12,330) (46,619) (108,979) Add Back: Interest Expense 16,304 16,195 16,145 16,046 Income Tax Benefit -…
  21. Q1 2017 Investor Presentation – Northern Oil and Gas, Inc. – slide 21
    2016 2015 2014 2013 2012 (In Thousands) Net (Loss) Income (293,494) (975,355) 163,746 53,067 72,285 Add Back: Interest Expense 64,484 58,360 42,106 32,709 13,875 Income Tax Provision (Benefit) (1,402) (202,424) 99,367 31,768…

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