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August 2018 Enercom Conference – Northern Oil and Gas, Inc.

Northern Oil and Gas, Inc. · Aug 21, 2018 · 26 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. August 2018 Enercom Conference – Northern Oil and Gas, Inc. – slide 1
    August 2018 NYSE American: NOG
  2. August 2018 Enercom Conference – Northern Oil and Gas, Inc. – slide 2
    SAFE HARBOR This press release contains forward-looking statements regarding future events and future results that are subject to the safe harbors created under the Securities Act of 1933 (the Securities Act) and the Securities Exchange…
  3. August 2018 Enercom Conference – Northern Oil and Gas, Inc. – slide 3
    NORTHERNS STRATEGY AHEAD OF PLAN 1) STRATEGY REVIEW 2) ORGANIC ACTIVITY 3) ACQUISITIONS 4) FINANCIALS & GUIDANCE 3
  4. August 2018 Enercom Conference – Northern Oil and Gas, Inc. – slide 4
    Organic Activity Near-term Priority Acquisitions Market Conditions Capital Allocation A Strategy for All Cycles Refinance Debt Return Capital to Shareholders 4
  5. August 2018 Enercom Conference – Northern Oil and Gas, Inc. – slide 5
    4Q 2017 2Q 2018 4Q 2018 E(2) 1 PRODUCTION (Boed) 16,742 21,046 33,250 100% 45% 70.5 2 ADJUSTED EBITDA (MM)(1) 48.5 LONG TERM DEBT 877.1 3 LESS CASH (MM) 633.8 28% LONG TERM DEBT LESS 4 6.1 CASH / TTM Adj. EBITDA…
  6. August 2018 Enercom Conference – Northern Oil and Gas, Inc. – slide 6
    NORTHERNS STRATEGY AHEAD OF PLAN 1) STRATEGY REVIEW 2) ORGANIC ACTIVITY 3) ACQUISITIONS 4) FINANCIALS & GUIDANCE 6
  7. August 2018 Enercom Conference – Northern Oil and Gas, Inc. – slide 7
    Northern Oil Daily Production & Net Well Additions(1) 35,000 10 Net Organic Wells Added to PDP 9 30,000 8 Daily Production (Boe/d) 25,000 7 20,000 6 5 15,000 4 10,000 3 2 5,000 1 0 0 Average Daily Oil Production…
  8. August 2018 Enercom Conference – Northern Oil and Gas, Inc. – slide 8
    Seaport Global Securities Vintage Oil Type-Curves by Region 8
  9. August 2018 Enercom Conference – Northern Oil and Gas, Inc. – slide 9
    Mallow 34-8H Vardon 2-14H Calico 148-93-31D-30H Sorenson Federal 153-96-4-9-2H CCU Badger 1B MBH 1 Whiting (IP: April 2018) 2 Continental (IP: March 2018) 3 Enerplus (IP: April 2018) 4 Newfield (IP: April 2018) 5 Conoco (IP: May 2018)…
  10. August 2018 Enercom Conference – Northern Oil and Gas, Inc. – slide 10
    Net Undeveloped Locations by IRR(1) Avg. EUR (Mboe): 982 843 756 597 435 Excludes recent acquisitions %Oil 79% 79% 79% 79% 80% Avg. PV-10 (MM): 11.0 8.0 5.7 3.1 0.6 Numbers include only undeveloped locations So as wells added to…
  11. August 2018 Enercom Conference – Northern Oil and Gas, Inc. – slide 11
    Increasing Well Productivity Economics by EUR & Commodity Price(2) 280,000 2015 Cum (1) 2016 Cum (1) 200% 2017 Cum (1) 1,100 Mboe: 7.5MM CWC 240,000 2018 Cum (1) 1,000 Mboe: 7.5MM CWC 700 Mboe Type Curve 180% 181% 800 Mboe Type…
  12. August 2018 Enercom Conference – Northern Oil and Gas, Inc. – slide 12
    NORTHERNS STRATEGY AHEAD OF PLAN 1) STRATEGY REVIEW 2) ORGANIC ACTIVITY 3) ACQUISITIONS 4) FINANCIALS & GUIDANCE 12
  13. August 2018 Enercom Conference – Northern Oil and Gas, Inc. – slide 13
    Pivotal and WEP Acquisition Criteria Transactions Strengthens NOGs Position as the Go-To Buyer of Non-Op Interests in the Williston Basin Leverages Expertise of In-House Technical Team Accretive to Per-Share Metrics and Return on…
  14. August 2018 Enercom Conference – Northern Oil and Gas, Inc. – slide 14
    Total Net Undeveloped Total Proved Location Reserves (Mmboe) Inventory Northern Pre-Acquisitions 81.7 679.3 Salt Creek 6.6 8.2 Pivotal 8.9 2.3 W Energy 23.1 47.1 Total Post-Acquisitions 120.3 736.9 NOG Acreage Acquired…
  15. August 2018 Enercom Conference – Northern Oil and Gas, Inc. – slide 15
    Dislocation Creating Opportunities: Opportunity Set: 1. Forced sellers: As producers switch to pad 1. Purchase of Single Wellbore AFEs. Small non-ops drilling, many non-operators are undercapitalized and minerals rights owners. As…
  16. August 2018 Enercom Conference – Northern Oil and Gas, Inc. – slide 16
    NORTHERNS STRATEGY AHEAD OF PLAN 1) STRATEGY REVIEW 2) ORGANIC ACTIVITY 3) ACQUISITIONS 4) FINANCIALS & GUIDANCE 16
  17. August 2018 Enercom Conference – Northern Oil and Gas, Inc. – slide 17
    Quarterly Comparison 2Q 2017 2Q 2018 1 GREW PRODUCTION (Boed) 13,794 21,046 53% DIFFERENTIALS 2 DECREASED (/Bbl) 6.86 5.77 16% 3 INCREASED Adjusted EBITDA(1) (MM) 30.7 70.5 129% 13% REDUCED CASH 4 OPERATING COSTS PER…
  18. August 2018 Enercom Conference – Northern Oil and Gas, Inc. – slide 18
    Quarterly Comparison 4Q 2017 2Q 2018 1 TOTAL LONG TERM DEBT, NET 979.3 834.8 15% 2 LIQUIDITY 202.2 240.9 19% 3 NET DEBT / LQA EBITDA(1) 4.5 2.2 51% As of December As of June 30, (In millions) 31, 2017 2018 Debt / EBITDA Debt:…
  19. August 2018 Enercom Conference – Northern Oil and Gas, Inc. – slide 19
    FULL YEAR 2018 GUIDANCE SUMMARY COMMENTARY 2017 Actuals 2018 Guidance Range Northern anticipates that organic net well additions will increase from 16.9 in 2017 to 25 27 Production in 2018 Avg. Daily Prod. (Boed) 14,800 23,670…
  20. August 2018 Enercom Conference – Northern Oil and Gas, Inc. – slide 20
    Basin Activity Increasing Activity on Northerns acreage is increasing Organic Activity Ground game utilizes scale to increase additional working interest Accretive acquisitions in the core of the play Acquisitions Capital…
  21. August 2018 Enercom Conference – Northern Oil and Gas, Inc. – slide 21
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  22. August 2018 Enercom Conference – Northern Oil and Gas, Inc. – slide 22
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  23. August 2018 Enercom Conference – Northern Oil and Gas, Inc. – slide 23
    3Q18 4Q 18 1Q19 2Q19 3Q19 4Q19 1Q20 2Q20 3Q20 4Q20 1Q21 2Q21 Swaps Volume (BO) 1,477,460 1,381,300 1,240,200 1,137,500 863,600 717,600 682,500 646,100 349,600 334,880 322.200 309.400 Price(2) 60.62 60.44 58.83 58.03 56.72 55.70 54.79…
  24. August 2018 Enercom Conference – Northern Oil and Gas, Inc. – slide 24
    Historical Operating Information Year Ended December 31, 2013 2014 2015 2016 2017 Production Oil (MBbls) 4,046.70 5,150.90 5,168.70 4,325.90 4,537.30 Natural Gas and NGLs (Mmcf) 2,572.30 3,682.80 4,651.60 4,026.90 5,187.90 Total…
  25. August 2018 Enercom Conference – Northern Oil and Gas, Inc. – slide 25
    Adjusted EBITDA by Quarter 3Q17 4Q17 1Q18 2Q18 Net Income (Loss) -16,087 -23,849 2,965 -96,547 Add Back: Interest Expense 16,673 20,882 23,107 22,403 Income Tax Benefit - -1,570 - - Depreciation, Depletion, Amortization and Accretion…
  26. August 2018 Enercom Conference – Northern Oil and Gas, Inc. – slide 26
    6-29-2018 Strip Pricing Period WTI (/bbl) HHub (/MMbtu) 2018: 3Q 71.70 2.79 4Q 66.90 2.88 2019: 1Q 65.07 3.00 2Q 63.75 2.62 3Q 62.72 2.66 4Q 61.86 2.76 2020: 1Q 61.00 2.91 2Q 60.21 2.53 3Q 59.48 2.57 4Q 58.92 2.67 2021: 1Q…

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