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Redtail Field Tour – Whiting Petroleum Corp.

Whiting Petroleum Corp. · May 29, 2014 · 25 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. Redtail Field Tour – Whiting Petroleum Corp. – slide 1
    Whiting Petroleum Corporation ENERGY + TECHNOLOGY = GROWTH Redtail Field Tour NYSE: WLL May 29, 2014
  2. Redtail Field Tour – Whiting Petroleum Corp. – slide 2
    Project Overview & Lab Tour Redtail Project Overview John Forster, Central Rockies Geologic Mgr. Mark Odegard, Senior Geologist Redtail Rock Lab Tour Dave Katz, Petrographer/Sedimentologist Charlie Harman, Geologist (QemScan-SEM)…
  3. Redtail Field Tour – Whiting Petroleum Corp. – slide 3
    Unconventional Reservoir Characterization Determine mobile fraction of Oil in Place (MOIP) Molecular Diameters of Conventional Oil Typical pore sizes Common Hydrocarbons Reservoirs 1-5000 nanometers 100 Nanometer Typical pore…
  4. Redtail Field Tour – Whiting Petroleum Corp. – slide 4
    Unconventional Reservoir Characterization Denver Rock Lab Core Layout Facility Reservoir Characterization Logging / Calibration In-house Facility Sample Selection Operated + Non-op Core Collaboration & Training Collaboration &…
  5. Redtail Field Tour – Whiting Petroleum Corp. – slide 5
    Redtail Development Program Geologic Sweet Spot NYSE: WLL 6 Energy + Technology = Growth
  6. Redtail Field Tour – Whiting Petroleum Corp. – slide 6
    Redtail Development Program Economic Sweet Spot OBJECTIVE Niobrara B Chalk Niobrara A Chalk DEVELOPMENT PLAN Mix of 960 and 640-acre spacing units 8 Wells per spacing unit Niobrara B 8 Wells per spacing unit Niobrara A 3,300+…
  7. Redtail Field Tour – Whiting Petroleum Corp. – slide 7
    Redtail Development Program Opportunity and Challenge High-resolution pore structure image from Scanning Electron Microscope 5 m (nanometer = 1 thousandth of a micron) 5 m 7% Porosity 13% Porosity 9985 5580.2 Middle Bakken…
  8. Redtail Field Tour – Whiting Petroleum Corp. – slide 8
    Redtail Development Program Niobrara Reservoirs Niobrara Reservoir Niobrara Resource Potential (1) GR Zone Whiting RAZOR 25-2514H PHI Minerals BVFluid RES OOIP by Zone 0 200 30 -10 0 100 0.2 2000 Reservoir Porosity Thickness…
  9. Redtail Field Tour – Whiting Petroleum Corp. – slide 9
    Redtail High Density Pilots Well Density Pilots 27L Pad 27K Pad Drilling Density Drilling Density - 16 Wells/DSU - 16 Wells/DSU - 330 ft. - 330 ft. Target: B-B-B-B Target: A-B-A-B Status: Flowing Status: Flowing Razor Pilot…
  10. Redtail Field Tour – Whiting Petroleum Corp. – slide 10
    Redtail Development Plan Plot showing actual Microseismic events for Stages 21 through 40 on Razor 27K Pad Whiting High-density Pilots Downhole Microseismic Survey Design: 2 Zipper-frac wells (interior wells) 2 Microseismic…
  11. Redtail Field Tour – Whiting Petroleum Corp. – slide 11
    Redtail Development Plan Drilling Inventory 2014 2018 Development Plan Includes Approximately 1,024 Gross Operated Wells With an 84% Average Working Interest (Total Locations: 3,310 Gross - 1,654 Net Wells) Based on 8 A & 8 B…
  12. Redtail Field Tour – Whiting Petroleum Corp. – slide 12
    Redtail Development Program Rig Schedule July Jan July Jan July Jan July 2013 2014 2014 2015 2015 2016 2016 Rig 1 Cade 23 7/17/2013 Pad Capable; Development Drilling; Option to extend Rig 2 Frontier 26 11/7/2013 Pad Capable;…
  13. Redtail Field Tour – Whiting Petroleum Corp. – slide 13
    Drilling Process Doug Walton, Vice President Drilling NYSE: WLL 14 Energy + Technology = Growth
  14. Redtail Field Tour – Whiting Petroleum Corp. – slide 14
    Typical Well Construction CONDUCTOR: HOLE SIZE: 20 SURFACE: DEPTH: 95 HOLE SIZE: 13.500 PRESET PRIOR TO THE DRILLING RIG ARRIVING ON LOCATION DEPTH: 1,600 MUD: SPUD MUD 8.3-8.8PPG LATERAL: BIT/BHA: PDC/MM/MWD HOLE SIZE: 6.000…
  15. Redtail Field Tour – Whiting Petroleum Corp. – slide 15
    Frontier 26 Rig Inventory NYSE: WLL 16 Energy + Technology = Growth
  16. Redtail Field Tour – Whiting Petroleum Corp. – slide 16
    Drilling Time Cost Projection NYSE: WLL days drill days drill depth 17 Energy + Technology = Growth
  17. Redtail Field Tour – Whiting Petroleum Corp. – slide 17
    Well Completion Process Mike Stahl, Operations Manager NYSE: WLL 18 Energy + Technology = Growth
  18. Redtail Field Tour – Whiting Petroleum Corp. – slide 18
    Niobrara Development Growing Production 14,000 Operated Gross Production at Redtail 12,000 10,000 8,000 6,000 4,000 mcfpd BOPD 2,000 - Apr-11 Jul-11 Oct-11 Jan-12 Apr-12 Jul-12 Oct-12 Jan-13 Apr-13 Jul-13…
  19. Redtail Field Tour – Whiting Petroleum Corp. – slide 19
    Niobrara Development Optimizing Frac Design 10,000,000 Pounds of Sand per Well 8,000,000 6,000,000 4,000,000 2,000,000 - 200,000 160,000 120,000 80,000 Barrels of Water per Well 40,000 - NYSE: WLL…
  20. Redtail Field Tour – Whiting Petroleum Corp. – slide 20
    Niobrara Development Driving Down Well Costs Average Completed Well Cost 10.0 USD (Million) Experiments with 7.5 MM lb Frac Design and 9.0 Microseismic 8.0 7.0 6.0 5.0 4.0 3.0 Early Completions, Small Frac…
  21. Redtail Field Tour – Whiting Petroleum Corp. – slide 21
    Niobrara Development Current Operations Drilling Orientation Log data suggests minimal stress anisotropy in area Early SW/NE orientation not optimum produced longitudinal fractures Evidence suggests both N-S and E-W orientation…
  22. Redtail Field Tour – Whiting Petroleum Corp. – slide 22
    Niobrara Development Future Plans Completion Hardware Evaluating sleeve systems (75 stages) versus plug & perf (40 stages) Will run two CT actuated sleeve systems, 75 stages each Frac Fluids Comparing complex premium fluids…
  23. Redtail Field Tour – Whiting Petroleum Corp. – slide 23
    Midstream Plans Complete oil field development underway 3 Gathering services Gas, Oil and Produced Water 3 Utility supply services Electricity, Fuel Gas and Fresh Water 1 Communication service: Fiber Optic cable Sales pipelines…
  24. Redtail Field Tour – Whiting Petroleum Corp. – slide 24
    Redtail Infrastructure Plan: A Great Place to Find an Oil Field May 2014 Trailblazer & REX Redtail Facilities Plan KMI Planned Gathering System Gas Gathering Lines 141 Miles Oil Gathering Lines 111 Miles SW Gathering Lines 111…
  25. Redtail Field Tour – Whiting Petroleum Corp. – slide 25
    Redtail- Central Production Batteries CPB Drivers DSU Construct simultaneous with drilling/completions Reduce capital and labor requirements Reduce equipment relocation requirements Centralized Equipment on CPB Oil Tanks/ Water…

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