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IPAA OGIS New York – Whiting Petroleum Corp.

Whiting Petroleum Corp. · Apr 10, 2018 · 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. IPAA OGIS New York – Whiting Petroleum Corp. – slide 1
    CORPORATE PRESENTATION IPAA OGIS New York April 2018 NYSE: WLL 1
  2. IPAA OGIS New York – Whiting Petroleum Corp. – slide 2
    Strategic Vision Deliver multi-year growth and free cash flow at a 55 NYMEX oil price. Reduce Debt to EBITDAX ratio below 2:1 at a 55 NYMEX oil price. Maintain a strong hedge position (60-70% of oil volumes) 12-24 months forward.…
  3. IPAA OGIS New York – Whiting Petroleum Corp. – slide 3
    2018 Strategic Initiatives Implement an optimized completion strategy to enhance capital efficiency at the drilling spacing unit level. Reorganize the Bakken team structure to streamline communications and learning across the…
  4. IPAA OGIS New York – Whiting Petroleum Corp. – slide 4
    Fourth Quarter 2017 Highlights Q4 2017 Average Production at High End of Guidance; Increases 12% from Q3 2017 Fourth Quarter and Full-Year 2017 Capex Below Guidance Fourth Quarter 2017 Net Cash Provided by Operating Activities…
  5. IPAA OGIS New York – Whiting Petroleum Corp. – slide 5
    2018 Capital Expenditure Plan Capital Plan Highlights Capital Budget of 750 Million Forecast Average 2018 Production of Non-Op Other 128,400 BOEPD 50 MM 25 MM 9% Growth over 2017 Average 7% 3% Redtail 75 MM Williston Basin…
  6. IPAA OGIS New York – Whiting Petroleum Corp. – slide 6
    Williston Basin Acreage Overview Polar Tier 1 Areas West Total Net Sanish/Parshall Missouri Gross Net Potential Breaks Area Acres Acres Wells East Missouri Breaks 61,723 30,143 90 Hidden Bench 104,166 75,392 440 Polar 97,988…
  7. IPAA OGIS New York – Whiting Petroleum Corp. – slide 7
    Williston Basin Development Plan 4 rig program; adding 5th rig mid-year 2-3 completion crews Targeting 1,000+ MBOE EUR 6.5 - 7.1 Million well cost Plan to drill 120 gross wells and put on production 123 gross wells NYSE:…
  8. IPAA OGIS New York – Whiting Petroleum Corp. – slide 8
    Hidden Bench Enhanced Completions Outperforming a 1,000 MBOE Type Curve Hidden Bench Enhanced Completions 350,000 300,000 250,000 Barrels of Oil Eqivalent 200,000 150,000 100,000 50,000 0 0 50 100…
  9. IPAA OGIS New York – Whiting Petroleum Corp. – slide 9
    Polar Enhanced Completions Outperforming a 1,000 MBOE Type Curve Polar Enhanced Completions 300,000 250,000 200,000 Barrels of Oil Eqivalent 150,000 100,000 50,000 0 0 50 100 150 200 250 300 350 400…
  10. IPAA OGIS New York – Whiting Petroleum Corp. – slide 10
    Sanish Enhanced Completions Outperforming a 1,000 MBOE Type Curve Sanish Enhanced Completions 400,000 350,000 300,000 Barrels of Oil Equivalent 250,000 200,000 150,000 100,000 50,000 0 0 100 200 300…
  11. IPAA OGIS New York – Whiting Petroleum Corp. – slide 11
    Optimizing Completions Previous Designs Optimized Design Generation 1: 2010-2012 240 lbs/ft proppant Generation 4 (Right-Sized 380 stage spacing Completions): 2018 4 bbl/ft fluid 600 - 1200 lbs/ft proppant 380 cluster spacing 200…
  12. IPAA OGIS New York – Whiting Petroleum Corp. – slide 12
    The Optimum Frac Design for each specific area Differences in reservoir and mechanical properties exist across the Williston Basin. Every area requires a customized completion Example of Multivariate Analysis design. for a Specific…
  13. IPAA OGIS New York – Whiting Petroleum Corp. – slide 13
    Finding the Optimum Size 400,000 350,000 Optimizing a DSU 300,000 5 Bakken wells (Hidden Bench Area) 250,000 Single DSU Barrels of Oil Equivalent 200,000 Enhanced Wells stimulated with less Completion than 3 MMlbs…
  14. IPAA OGIS New York – Whiting Petroleum Corp. – slide 14
    Continuous Improvement in Operations Continually Improving Drilling Efficiency 35 Drilling 30 Industry leading drilling performance with 56% reduction 25 23.0 21.7 in SPUD to TD since 2011. Spud to TD - Days 20 17.2 Utilizing…
  15. IPAA OGIS New York – Whiting Petroleum Corp. – slide 15
    Cash Costs Down 25% from 2014 20.00 19.37 Established pipe gathering systems for produced water. 18.00 3.80 16.58 Renegotiated lower rates for existing 16.00 15.53 produced water systems. 14.59 14.00 4.83 3.68 Currently 85% of…
  16. IPAA OGIS New York – Whiting Petroleum Corp. – slide 16
    Strong Balance Sheet Liquidity with Financial Flexibility Well Staged Bond Maturity Profile as of 2/22/2018 ( Millions) (1) 2.3 billion of bank credit commitments on a 2.3 billion borrowing base. Nothing drawn as of 12/31/2017(2).…
  17. IPAA OGIS New York – Whiting Petroleum Corp. – slide 17
    Strong Hedge Position (1) 2018 Hedge Position (2) Weighted Average As a Percentage of 80% Derivative Hedge Contracted Crude NYMEX Price December 2017 Instrument Period (Bbls per Month) (per Bbl) Oil Production 70% Three-way collars…
  18. IPAA OGIS New York – Whiting Petroleum Corp. – slide 18
    Why Whiting Delivering growth and free cash flow in 2018. Managing the asset portfolio to maximize capital efficiency and corporate level returns. Strong debt maturity profile. Strong hedge position. A technology leader in the…

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