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2Q 2017 Earnings Update – Northern Oil and Gas, Inc.

Northern Oil and Gas, Inc. · Aug 9, 2017 · 22 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. 2Q 2017 Earnings Update – Northern Oil and Gas, Inc. – slide 1
    August 2017 NYSE MKT: NOG
  2. 2Q 2017 Earnings Update – Northern Oil and Gas, Inc. – slide 2
    Position: 148,571 net acres(1) Large net well inventory 84% held, 86% held in North Dakota(1) Production: 2Q 2017 averaged 13,794 BOE/d, 84% crude 218.8 net producing wells (3,060 gross)(1) 16.1 net wells-in-process(1) Hedges…
  3. 2Q 2017 Earnings Update – Northern Oil and Gas, Inc. – slide 3
    Northern Net Acreage Summary (2) 10% 16% 14% 90% 84% 86% North Dakota Montana Total % Held (1) Total % Non-Held ND % Held (1) ND % Non-Held Net Acres By County Total Net Acreage: 148,571 (as of 6/30/17) ND: 133,533 Net…
  4. 2Q 2017 Earnings Update – 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. 2Q 2017 Earnings Update – 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) 120…
  6. 2Q 2017 Earnings Update – 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 8.4 7.9 7.8 40% 37% 8.0 7.5 7.6 37% 36% 7.3 7.1 6.9 6.8 6.6 35% 33% 32% 7.0 30% 29% 28% 6.0 26% 26% 26% MM 25%…
  7. 2Q 2017 Earnings Update – Northern Oil and Gas, Inc. – slide 7
    Increasing Mix of High Intensity Completions 100% 90% 80% 70% 60% 50% 100% 98% 96% 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 Q2 '17 High…
  8. 2Q 2017 Earnings Update – Northern Oil and Gas, Inc. – slide 8
    CCU Red River 1-2-16MBH Akron Federal 7-27H Van Hook 66-3606H Fort Berthold 148-94-36C-25-7H BB-Eide-LE-151-95-3328H1 1 Burlington (Mar. 2017) 2 Continental (Feb. 2017) 3 EOG (Apr. 2017) 4 Halcon (May 2017) 5 Hess (Jan. 2017) Peak 30:…
  9. 2Q 2017 Earnings Update – Northern Oil and Gas, Inc. – slide 9
    Increasing Well Productivity 300,000 2012 - 2014 Cum(1) 280,000 2015 Cum(1) 2016 Cum(1) 260,000 2017 Cum(1) 240,000 700 Mboe Type Curve 220,000 800 Mboe Type Curve 900 Mboe Type Curve Cum Production (Boe) 200,000 1200 Mboe…
  10. 2Q 2017 Earnings Update – Northern Oil and Gas, Inc. – slide 10
    Superior Well Performance 250,000 Average (Wells Completed in 2017) 700 Mboe Type Curve 800 Mboe Type Curve 200,000 900 Mboe Type Curve 1200 Mboe Type Curve Cum Production (Boe) 150,000 100,000 50,000 - - 30 60…
  11. 2Q 2017 Earnings Update – Northern Oil and Gas, Inc. – slide 11
    Superior Well Performance 450,000 Average 700 Mboe Type Curve 400,000 800 Mboe Type Curve 900 Mboe Type Curve 350,000 1200 Mboe Type Curve Cum Production (Boe) 300,000 250,000 200,000 150,000 100,000 50,000 - - 30…
  12. 2Q 2017 Earnings Update – Northern Oil and Gas, Inc. – slide 12
    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 13 Source:…
  13. 2Q 2017 Earnings Update – Northern Oil and Gas, Inc. – slide 13
    Production vs Capital Expenditures 600 537.5 536.9 16,000 16,285 15,794 500 439.1 414.0 13,933 13,794 13,700 13,442 13,688 13,653 13,299 Capital Expenditures (in millions) 13,552 12,000 400 Production (Boepd)…
  14. 2Q 2017 Earnings Update – Northern Oil and Gas, Inc. – slide 14
    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: 3Q 632,000 53.36 75,000 50.00 - 60.06 4Q 632,000 53.36…
  15. 2Q 2017 Earnings Update – Northern Oil and Gas, Inc. – slide 15
    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…
  16. 2Q 2017 Earnings Update – Northern Oil and Gas, Inc. – slide 16
    De-risked non-op position comprised of over 148,000 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;…
  17. 2Q 2017 Earnings Update – Northern Oil and Gas, Inc. – slide 17
    18
  18. 2Q 2017 Earnings Update – Northern Oil and Gas, Inc. – slide 18
    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…
  19. 2Q 2017 Earnings Update – Northern Oil and Gas, Inc. – slide 19
    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…
  20. 2Q 2017 Earnings Update – Northern Oil and Gas, Inc. – slide 20
    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…
  21. 2Q 2017 Earnings Update – Northern Oil and Gas, Inc. – slide 21
    Quarter Ended June 30, March 31, December 31, September 30, (In thousands) 2017 2017 2016 2016 Net Income (Loss) 13,802 16,941 (12,330) (46,619) Add Back: Interest Expense 16,428 16,304 16,195 16,145 Income Tax Benefit - -…
  22. 2Q 2017 Earnings Update – Northern Oil and Gas, Inc. – slide 22
    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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