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EnerCom Oil and Gas Conference – Northern Oil and Gas, Inc.

Northern Oil and Gas, Inc. · Aug 13, 2019 · 28 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. EnerCom Oil and Gas Conference – Northern Oil and Gas, Inc. – slide 1
    NYSE American: NOG EnerCom Conference Presentation AUGUST 2019 NYSE American: NOG
  2. EnerCom Oil and Gas Conference – Northern Oil and Gas, Inc. – slide 2
    NORTHERN OIL & GAS NYSE American: NOG DOMINANT NON-OPERATOR FRANCHISE IN THE WILLISTON BASIN Focused on disciplined growth, free cash flow generation and sustainable shareholder returns BY THE NUMBERS 1 SCALE ACTIVITY CASH…
  3. EnerCom Oil and Gas Conference – Northern Oil and Gas, Inc. – slide 3
    2Q19: BUSINESS UPDATE NYSE American: NOG Non-operated model continues to demonstrate measured growth with improving capital discipline to drive returns mboe/d MM GROWING PRODUCTION ENHANCING EBITDA Production ramping across Northern…
  4. EnerCom Oil and Gas Conference – Northern Oil and Gas, Inc. – slide 4
    NORTHERNS LONG TERM VISION NYSE American: NOG Aspirational goals for the next five years FIVE YEAR EBITDA TARGETS COMBINING ORGANIC GROWTH Adjusted EBITDA WITH STRATEGIC GROUND GAME mm 750 mm INVESTMENT DRIVES SUSTAINABLE…
  5. EnerCom Oil and Gas Conference – Northern Oil and Gas, Inc. – slide 5
    INDUSTRY LEADING MARGINS AT LOW G&A COSTS NYSE American: NOG Northern actively works to minimize its G&A costs, ensuring one of the lowest /boe in the Williston basin GROSS INCOME MARGIN vs. G&A/BOE (FY 2018) Our position as a…
  6. EnerCom Oil and Gas Conference – Northern Oil and Gas, Inc. – slide 6
    RESERVES UNDERPIN VALUE PROPOSITION NYSE American: NOG Participation in highest-quality wells ensures optimal exposure to high-volume regional reservoirs Growing reserves across portfolio Proved reserve growth of 79% YoY Working…
  7. EnerCom Oil and Gas Conference – Northern Oil and Gas, Inc. – slide 7
    NORTHERNS PROVED DEVELOPED VALUE NYSE American: NOG Northerns Proved Developed Reserves alone underpin the current market enterprise value PROVED DEVELOPED RESERVES PV-10 VALUE NORTHERNS PROVED DEVELOPED RESOURCES ( millions) 1PDP…
  8. EnerCom Oil and Gas Conference – Northern Oil and Gas, Inc. – slide 8
    ALIGNED WITH THE SHAREHOLDER LIKE NO OTHER E&P NYSE American: NOG Northern is focused on what it means to be accountable to the shareholder TYPICAL E&P PEER NORTHERN 3.00 Cash G&A per Barrel 1.13 Cash G&A in 2Q 19 Insider &…
  9. EnerCom Oil and Gas Conference – Northern Oil and Gas, Inc. – slide 9
    2019 CAPITAL ALLOCATION STRATEGY NYSE American: NOG 2019 capital allocation hierarchy ensures strategic management of balance sheet through disciplined approach FREE CASH FLOW STREAM REINVEST CAPITAL Allocation in 2H19 will…
  10. EnerCom Oil and Gas Conference – Northern Oil and Gas, Inc. – slide 10
    ENHANCED RETURNS WITH DISCIPLINED CAPITAL ALLOCATION NYSE American: NOG Participation in the highest quality wells with stable AFE costs generates consistent production growth & higher IRRs CONSISTENTLY FUNDING ATTRACTIVE WELLS…
  11. EnerCom Oil and Gas Conference – Northern Oil and Gas, Inc. – slide 11
    FOCUSED WILLISTON BASIN CORE FOOTPRINT NYSE American: NOG Portfolio of high-quality acreage in the heart of the basin with interests in over 6,000 gross Bakken/Three Forks oil wells NET ACREAGE SUMMARY 9% 9% 8% 181,770 NET ACRES…
  12. EnerCom Oil and Gas Conference – Northern Oil and Gas, Inc. – slide 12
    PARTICIPATING IN THE HIGHEST-QUALITY WELLS NYSE American: NOG No requirement for contiguous acreage allows Northern to participate in prime drilling opportunities across the region 40% NORTHERN HAS PARTICIPATED IN 40% OF WELLS…
  13. EnerCom Oil and Gas Conference – Northern Oil and Gas, Inc. – slide 13
    WITH LEADING, TECHNICALLY STRONG OPERATORS NYSE American: NOG Deep operating partner relationships facilitate both organic and acquisition-based production growth opportunities % NET PRODUCING WELLS BY OPERATOR OTHERS…
  14. EnerCom Oil and Gas Conference – Northern Oil and Gas, Inc. – slide 14
    YIELDING YOY IMPROVEMENTS IN WELL RECOVERY NYSE American: NOG Completions technology and high-grading of well locations has led to improved well recovery across the basin INCREASING WELL PRODUCTIVITY 2015 Cum (1) HIGHER RECOVERIES +…
  15. EnerCom Oil and Gas Conference – Northern Oil and Gas, Inc. – slide 15
    CORE GROWTH THESIS IS SUSTAINABLE NYSE American: NOG As a non-operator, Northern can be both opportunistic and strategic in its acquisition of additional acreage BACKDROP OPPORTUNITIES FORCED AFE burdens lead to SELLERS…
  16. EnerCom Oil and Gas Conference – Northern Oil and Gas, Inc. – slide 16
    POSITION ENHANCED THROUGH ACCRETIVE ACQUISITIONS NYSE American: NOG Directing cash flow to acquisitions consistently grows Northern's position while diversifying opportunities Broadening inventory position in the core of the basin:…
  17. EnerCom Oil and Gas Conference – Northern Oil and Gas, Inc. – slide 17
    ORGANIC GROWTH & ACQUISITIONS DRIVE OPPORTUNITY SET NYSE American: NOG Northern adds to its acreage position and well inventory in multiple ways Northerns goal is to leverage its strong financial position to counter-cyclically invest…
  18. EnerCom Oil and Gas Conference – Northern Oil and Gas, Inc. – slide 18
    CONTINUED BALANCE SHEET IMPROVEMENT NYSE American: NOG Northerns actively managed balance sheet continues to offer robust protection against market volatility Three months ending (In millions) 6/30/18 9/30/18 12/31/18 3/31/19…
  19. EnerCom Oil and Gas Conference – Northern Oil and Gas, Inc. – slide 19
    HOLDING LEVERAGE AT 2.0x OR BETTER NYSE American: NOG Actively working to further reduce debt and continue generating free cash flow Net Debt/Annualized Adjusted EBITDA LEVERAGE 4.1x EXPECT YE 2019 LEVERAGE (54)% TO REMAIN IN…
  20. EnerCom Oil and Gas Conference – Northern Oil and Gas, Inc. – slide 20
    THROUGH CLOSELY MANAGED DEBT MATURITY NYSE American: NOG Enhancing cash flow to leverage liquidity position to pay down debt Northern repurchased 10.1 million in principal amount of its Senior Notes in 2Q 2019 LIQUIDITY PROFILE 1…
  21. EnerCom Oil and Gas Conference – Northern Oil and Gas, Inc. – slide 21
    ONGOING POLICY OF RISK MANAGEMENT NYSE American: NOG Northern continues to execute a strategy designed to safeguard returns during a commodity downcycle CRUDE OIL DERIVATIVE BASIS SWAPS (1) Contract Period Barrels Per Day Volumes…
  22. EnerCom Oil and Gas Conference – Northern Oil and Gas, Inc. – slide 22
    WHY NORTHERN OIL & GAS NYSE American: NOG NON-OPERATOR Unique model provides capital flexibility & discipline, levers FLEXIBILITY Northerns experience and relationships in the region GROWING ORGANIC Basin and Northern acreage…
  23. EnerCom Oil and Gas Conference – Northern Oil and Gas, Inc. – slide 23
    1H19 AS PLANNED, CONTINUING PRIORITIES INTO 2H19 NYSE American: NOG Execution of strategic priorities into 2H 2019 supported by unique non-operator flexibility STRATEGY 2Q 2019 STATUS Continuing to ramp organic well activity every…
  24. EnerCom Oil and Gas Conference – Northern Oil and Gas, Inc. – slide 24
    DIFFERENTIATED E&P PLATFORM NYSE American: NOG OIL-LEVERED WILLISTON DISCIPLINED CAPITAL BASIN PRODUCER ALLOCATION & RETURNS PROACTIVELY MANAGED VISIBLE LONG-TERM BALANCE SHEET GROWTH POTENTIAL Investor Presentation -…
  25. EnerCom Oil and Gas Conference – Northern Oil and Gas, Inc. – slide 25
    NORTHERN OIL & GAS WHY NORTHERNS BETTER NYSE American: NOG RETURNS FOCUS Changing the way the market thinks about E&P BETTER BETTER BUSINESS BASIN MODEL BETTER BETTER LT CAPITAL GROWTH ALLOCATION POTENTIAL Investor…
  26. EnerCom Oil and Gas Conference – Northern Oil and Gas, Inc. – slide 26
    APPENDIX: HISTORICAL OPERATING & FINANCIAL INFORMATION NYSE American: NOG HISTORICAL OPERATING INFORMATION YEAR ENDED DECEMBER 31, THREE MONTHS ENDED, 2014 2015 2016 2017 2018 June 30, 2018 June 30, 2019 PRODUCTION Oil (MBbls)…
  27. EnerCom Oil and Gas Conference – Northern Oil and Gas, Inc. – slide 27
    APPENDIX: NON-GAAP RECONCILIATIONS NYSE American: NOG ADJUSTED EBITDA BY YEAR (IN THOUSANDS) 2015 2016 2017 2018 Net Income (Loss) (975,355) (293,494) (9,194) 143,689 Add: Interest Expense 58,360 64,486 70,286 86,005 Income Tax…
  28. EnerCom Oil and Gas Conference – Northern Oil and Gas, Inc. – slide 28
    NYSE American: NOG

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