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October 2017 Corporate Presentation – Whiting Petroleum Corp.

Whiting Petroleum Corp. · Oct 24, 2017 · 20 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. October 2017 Corporate Presentation – Whiting Petroleum Corp. – slide 1
    Whiting Petroleum Corporation Corporate Presentation October 2017 NYSE: WLL
  2. October 2017 Corporate Presentation – Whiting Petroleum Corp. – slide 2
    Recent Achievements Completed 500 Million Fort Berthold Reservation Area Sale. Sold 7,785 BOE/d. Using 30,000 per BOE/d results in acreage value of 9,000/net acre, highest of recent significant Bakken sales. The properties had LOE of…
  3. October 2017 Corporate Presentation – 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 105,475 BOE/d (Q2…
  4. October 2017 Corporate Presentation – Whiting Petroleum Corp. – slide 4
    Williston Basin Development Program Large Acreage Position in the Core of the Play Northern 31-30 Two Well Average ACREAGE Avg. 11.6 MMlb Stimulation Evitt 14-12 and 34-12 Pad Averages 692,815 gross (414,050 net) Exceeding 1,000…
  5. October 2017 Corporate Presentation – Whiting Petroleum Corp. – slide 5
    Strong Enhanced Completion Results in Williams County 140,000 Evitt 14-12 and 34-12 Pad Averages 14-12 Avg. 9.3 MMlb Stimulation 120,000 34-12 Avg. 10.1 MMlb Stimulation 14-12 Completed May 2017 100,000 34-12 Completed June…
  6. October 2017 Corporate Presentation – Whiting Petroleum Corp. – slide 6
    Strong Enhanced Completion Results in Williams County 180,000 Northern 31-30 Two Well Average 160,000 Avg. 11.6 MMlb Stimulation Completed April 2017 140,000 Exceeding 1,000 MBOE Type Curve 120,000 100,000 BOE 80,000…
  7. October 2017 Corporate Presentation – Whiting Petroleum Corp. – slide 7
    Williston Basin 8+MMlb Enhanced Completions Above 1,000 MBOE Type Curve 32 Bakken/Three Forks Completions Across Multiple Core Counties(1) 400,000 350,000 300,000 250,000 BOE 200,000 150,000 100,000…
  8. October 2017 Corporate Presentation – Whiting Petroleum Corp. – slide 8
    Williston Basin 7+MMlb Enhanced Completions Above 1,000 MBOE Type Curve 62 Bakken/Three Forks Completions Across Multiple Core Counties(1) 300,000 250,000 200,000 BOE 150,000 100,000 50,000 0 0 50 100 150…
  9. October 2017 Corporate Presentation – Whiting Petroleum Corp. – slide 9
    Williston Basin 7+MMlb Enhanced Completions Pad Locations WLL Acreage Enhanced Completion NYSE: WLL 9
  10. October 2017 Corporate Presentation – Whiting Petroleum Corp. – slide 10
    91% of Potential Bakken/Three Forks Drilling Locations in Core Areas Core Areas Gross Working Gross % of Total County Name Acreage(1) Interest(1) Locations(1) Locations(1) McKenzie 164,640 64% 1,507 31% Mountrail(2) 174,919 47% 992…
  11. October 2017 Corporate Presentation – Whiting Petroleum Corp. – slide 11
    Strong Returns for Enhanced Completions at 40 NYMEX Oil 700,000 600,000 500,000 400,000 BOE 300,000 200,000 100,000 0 0 100 200 300 400 500 600 700 800 900 1,000 Days 1,000 MBOE Type Curve 1,500 MBOE…
  12. October 2017 Corporate Presentation – Whiting Petroleum Corp. – slide 12
    How its done 1,680 perforations (40 stages with average 42 perforations per stage) 9,000,000 lbs per job Average 5,357 lbs per perforation (900 lbs proppant per lateral foot) Diverters (plugs off perforations taking treatment fluid…
  13. October 2017 Corporate Presentation – Whiting Petroleum Corp. – slide 13
    Williston Basin Well Productivity Increased 85% for 90-Day Rates Since 2014(1) 1200 1,057 1,064 1000 800 746 BOEPD 576 600 400 200 0 90-Day Avg. BOEPD 2014 2015 2016 2017 (1) Data set includes 287 wells in…
  14. October 2017 Corporate Presentation – Whiting Petroleum Corp. – slide 14
    Top Performer in the Bakken First Three Months Average Gross Revenues per Well(1) WLL 4.0 3.8 3.7 3.4 3.3 3.5 3.0 3.0 2.7 2.6 2.5 2.5 2.3 Million 2.1 2.1 1.9 2.0 1.7 1.5 1.1 1.1 1.0 Peer M Peer A 0.5 Peer…
  15. October 2017 Corporate Presentation – Whiting Petroleum Corp. – slide 15
    Redtail Development Program Economic Sweet Spot in Oil Window (Weld County, Colorado) ACREAGE 159,994 (134,771 net) acres 100% held by production, expires beyond 2018, or can be extended for approximately 3 million. Average WI of…
  16. October 2017 Corporate Presentation – Whiting Petroleum Corp. – slide 16
    Strong Balance Sheet Liquidity with Financial Flexibility 2.5 billion of bank credit commitments on a 2.5 billion borrowing base. Only 550 million drawn as of 6/30/2017. Bank credit agreement through 12/08/2019. 500 million proceeds…
  17. October 2017 Corporate Presentation – Whiting Petroleum Corp. – slide 17
    2017 Capital Budget 96% Allocated to Development that Drives Growth Other(1) Non-Op 38MM 62MM Redtail 332MM Williston Basin 518MM Williston Basin Redtail Non-Op Other (1) Includes exploration, facilities and land.…
  18. October 2017 Corporate Presentation – Whiting Petroleum Corp. – slide 18
    Guidance for Q3 and Full-Year 2017(1) Guidance Third Quarter Full Year 2017 2017 Production (MMBOE) 10.5 - 11.1 43.6 - 44.3 Lease operating expense per BOE 8.25 - 8.75 8.25 - 8.75 General and administrative expense per BOE 2.90…
  19. October 2017 Corporate Presentation – Whiting Petroleum Corp. – slide 19
    Strong Hedge Position(1) 64% Hedged 2017 Average Weighted Average As a Percentage of Derivative Hedge Contracted Crude NYMEX Price June 2017 Instrument Period (Bbls per Month) (per Bbl) Oil Production Three-way collars (2)…
  20. October 2017 Corporate Presentation – Whiting Petroleum Corp. – slide 20
    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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