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JP Morgan Conference – Northern Oil and Gas, Inc.

Northern Oil and Gas, Inc. · Feb 24, 2020 · 24 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. JP Morgan Conference – Northern Oil and Gas, Inc. – slide 1
    NYSE American: NOG JP Morgan Conference NYSE American: NOG
  2. JP Morgan Conference – Northern Oil and Gas, Inc. – slide 2
    WILLISTON BASIN CORE IS OUR NON-OP HOME 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% 10% 8% 183,518 NET…
  3. JP Morgan Conference – Northern Oil and Gas, Inc. – slide 3
    THE NON-OPERATOR MODEL: WHAT WE DO NYSE American: NOG A flexible and moderated approach to E&P, offering capital discipline, cost control & protection from downside exposure We do not drill wells or We acquire minority working…
  4. JP Morgan Conference – Northern Oil and Gas, Inc. – slide 4
    OUR CONSENT PROCESS: RETURNS + ENVIROMENTALLY DRIVEN NYSE American: NOG Northern's land & engineering teams review every well AFE to determine participation or non-consent WELL PROPOSAL AFE REVIEW COMMERCIAL ENVIRONMENTAL DECISION…
  5. JP Morgan Conference – Northern Oil and Gas, Inc. – slide 5
    WILLISTON BASIN: NORTHERNS HOME FIELD NYSE American: NOG Northern is a pure-play Williston Basin company, with long-term relationships with premier operators and land owners Presence in basin since Northerns inception in 2006 7.4…
  6. JP Morgan Conference – Northern Oil and Gas, Inc. – slide 6
    WE PARTNER 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…
  7. JP Morgan Conference – Northern Oil and Gas, Inc. – slide 7
    AND PARTICIPATE IN THE HIGHEST-QUALITY WELLS NYSE American: NOG No requirement for contiguous acreage allows Northern to participate in prime drilling opportunities across the region 1 Borrud 156-101-1B-12-2H 2 Gjorven 12-21HSL 3 Long…
  8. JP Morgan Conference – Northern Oil and Gas, Inc. – slide 8
    BAKKEN WELL PERFORMANCE KEEPS SURPRISING TO THE UPSIDE 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…
  9. JP Morgan Conference – Northern Oil and Gas, Inc. – slide 9
    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…
  10. JP Morgan Conference – Northern Oil and Gas, Inc. – slide 10
    SO, WHY INVEST IN NORTHERN OIL & GAS NYSE American: NOG FLEXIBLE OPERATING Business model provides capital flexibility & discipline Leverages Northerns differentiated experience, data, insights and MODEL relationships in the basin…
  11. JP Morgan Conference – Northern Oil and Gas, Inc. – slide 11
    MGMT ALIGNED WITH STAKEHOLDERS LIKE NO OTHER E&P NYSE American: NOG Northern is focused on what it means to be accountable TYPICAL E&P PEER NORTHERN 3.00 Cash G&A per Barrel 1.15 Cash G&A in 3Q 19 Insider & Management Ownership of…
  12. JP Morgan Conference – Northern Oil and Gas, Inc. – slide 12
    THE ONE THIRD DOCTRINE- DISCIPLED & BALANCED CAPITAL ALLOCATION NYSE American: NOG REINVESTMENT FREE CASH FLOW ALLOCATION FOR GROWTH SHAREHOLDER ORGANIC ACREAGE RETURNS FOCUS ACQUISITIONS REGULAR DIVIDEND 1/3 1/3 STOCK…
  13. JP Morgan Conference – Northern Oil and Gas, Inc. – slide 13
    NORTHERN OIL & GAS WHY NORTHERN IS BETTER NYSE American: NOG DEBT-ADJUSTED RETURNS FOCUS Changing the way the market thinks about Upstream Investing BETTER BETTER BUSINESS BASIN MODEL BETTER BETTER TOTAL CAPITAL RETURN…
  14. JP Morgan Conference – Northern Oil and Gas, Inc. – slide 14
    FOR THOSE THAT KNOW US WELL- UPDATE ON RECENT EVENTS NYSE American: NOG - 2019 CAPITAL ALLOCATION REVISITED - CHECK-LIST THROUGH Q3:19 - PROFORMA BALANCE SHEET - HEDGING REMINDER Northern Oil & Gas - JP Morgan Conference…
  15. JP Morgan Conference – Northern Oil and Gas, Inc. – slide 15
    FY19S BUDGET CAPITALIZED ON GROUND GAME OPPORTUNTIES NYSE American: NOG Discrete, strategic acquisitions drive opportunities at a time when operators are reducing near-term commitments 2019 CAPEX ALLOCATION Organic D&C Capital…
  16. JP Morgan Conference – Northern Oil and Gas, Inc. – slide 16
    2019 CHECK-LIST THROUGH Q3:19 NYSE American: NOG Execution of strategic priorities into through 3Q 2019 supported by unique non-operator flexibility STRATEGY 3Q 2019 STATUS Continuing to ramp organic well activity every quarter 1…
  17. JP Morgan Conference – Northern Oil and Gas, Inc. – slide 17
    THIRD QUARTER BALANCE SHEET PRO FORMA NYSE American: NOG A look at Northerns Balance Sheet Pro Forma for Recent Transactions Pro Forma for Tender / Pro Forma for Consent Recent Series of Transactions have (In millions) As of…
  18. JP Morgan Conference – Northern Oil and Gas, Inc. – slide 18
    MEETING MARKET EXPECTATIONS NYSE American: NOG Positioning our company to reduce leverage, streamline our debt positions, and initiate impactful shareholder returns 1 REFINANCING DOWN TO 2x LEVERAGE Restructuring our debt and 1.…
  19. JP Morgan Conference – Northern Oil and Gas, Inc. – slide 19
    ONGOING POLICY OF RISK MANAGEMENT NYSE American: NOG Northern continues to CRUDE OIL DERIVATIVE BASIS SWAPS 1 execute a strategy built Contract Period Barrels Per Day (Bbls/d) Total Hedged Volumes (Bbls) Weighted Average Price (/Bbl)…
  20. JP Morgan Conference – Northern Oil and Gas, Inc. – slide 20
    DIFFERENTIATED E&P PLATFORM NYSE American: NOG OIL-LEVERED VISIBLE LONG-TERM DISCIPLINED CAPITAL PROACTIVELY MANAGED WILLISTON PRODUCER GROWTH POTENTIAL ALLOCATION BALANCE SHEET Diverse operator group Multi-year well inventory…
  21. JP Morgan Conference – Northern Oil and Gas, Inc. – slide 21
    NYSE American: NOG
  22. JP Morgan Conference – Northern Oil and Gas, Inc. – slide 22
    APPENDIX NYSE American: NOG APPENDIX - HISTORICAL FINANCIAL INFO - NON-GAAP RECONCILIATIONS Northern Oil & Gas - Investor Presentation December 2019 23
  23. JP Morgan Conference – Northern Oil and Gas, Inc. – slide 23
    HISTORICAL OPERATING & FINANCIAL INFORMATION NYSE American: NOG HISTORICAL OPERATING INFORMATION YEAR ENDED DECEMBER 31, THREE MONTHS ENDED, 2014 2015 2016 2017 2018 September 30, 2018 September 30, 2019 PRODUCTION Oil (MBbls)…
  24. JP Morgan Conference – Northern Oil and Gas, Inc. – slide 24
    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 Provision…

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