INVESTOR PRESENTATION December 2014 1 www.oasispetroleum.com
Top Pure Play in the Bakken(1) Top tier asset position 506,960 net acres 403 operated DSUs 3,590 gross operated locations 4749 Mboepd estimated 4Q14 production (2) Proved Reserves 219 MMBoe with PV10 of 5.2 billion Driving…
Premier Asset Position Highlights West Williston East Nesson Concentrated 507k net acres in the core of the Williston Montana North Dakota Basin Operational control 94% operated allows for control of rig pace, cost and…
Prudent Capital Management in Low Oil Price Environment Solid Financial Position Levers to Pull Highly economic acreage, even in 60 to 70 WTI 10 of 16 rigs on shortterm contracts, ending on or before environment the end of March…
Development Program Transition in 2015 End of January 2015 Rig Activity End of March 2015 Rig Activity MONTANA NORTH MONTANA NORTH DAKOTA DAKOTA x3 x6 x6 10 rigs exiting January 2015 dropping to 6 by end of March…
Disciplined Growth in Production & Reserves NearTerm Outlook Annual Average Daily Production(1) 4749 Mboepd estimated 4Q14 production Mboepd Targeting 510% production growth in 2015 over 2014 50 45.4 Expect to run 6 rigs in Indian…
Attractive Economics Across Basin Bakken Acreage Overview Compelling Well Economics before Impact of High Intensity Completions Oasis applies different completion techniques across basin to drive higher returns across portfolio…
Completion Optimization Slickwater & High Volume Proppant High Intensity Completions Type Curve Outperformance(1) 60% Seeing 35% to 50% uplift in early production, which leads 51% 50% to higher nearterm cash flow 41% 41% 40% 36%…
White Unit Slickwater Results Cumulative Production White Unit West Williston (Mboe) 60,000 50,000 Red Bank 750 40,000 MBoe(1) 600 Painted 30,000 (2) MBoe Montana Wood Indian 20,000 400 MBoe(3) Hills 10,000…
Oasis Well Services (OWS) Natural Hedge & Competitive Advantage OWS Saving per Net Well(1) (MMs) 2nd frac spread at 100% utilization in August 2014 0.5 Completing 3040% of Oasis completions in 2H14 0.40 0.4 0.36 6 rig plan in…
Oil and Gas Infrastructure Development(1) Infrastructure Highlights Crude Oil Gathering Infrastructure Crude oil gathering (3rd party system) MONTANA NORTH DAKOTA Realized 10.3% differential in 3Q14 Provides marketing flexibility…
Saltwater Disposal Infrastructure Oasis Midstream Service (OMS) Highlights Saltwater Disposal Infrastructure Salt water disposal (Oasis owned system) Reduces LOE and provides surety of fluid movement 40% flowing through gathering…
Expanding Takeaway Capacity out of Bakken Takeaway Options Takeaway Capacity(1) (MBOPD) ANS 3,500 Clearbrook 3,000 2,500 Brent 2,000 Guernsey ANS 1,500 1,000 WTI 500 Railroad 2010 2011 2012 2013 2014 2015 2016 2017…
Balance Sheet Strong Balance Sheet (9/30/14) and Liquidity Liquidity and Capitalization as of 9/30/14 (MM) As Reported Liquidity of 1.2 BN + 500MM accordion feature Cash and marketable securities 67 Current borrowing base of 2.0BN…
Investment Highlights Oil focused, pure play in the Williston Basin Large, concentrated acreage position with highly economic inventory Capital discipline and conservative contract management strengthens balance sheet &…
Acreage Economics in Montana & North Cottonwood (NCW) Economic Advantage Actual Production Results(3) (Boe) Oasis well costs drive strong economics in both Montana 140,000 and North Cottonwood 120,000 Both Hebron and North…
Lower Three Forks Activity Improving Inventory Potential Lower TFS Activity in Delineated Acreage Results from producing lower bench TFS wells in delineated acreage are working well Potential to increase drilling locations through…
Risk Management(1) Weighted Average Prices (/Bbl) Type Remaining Term SubFloor Floor Ceiling Swaps BOPD Total Barrels 2014 Full Year Swaps Oct Dec 95.90 9,500 874,000 Swaps w/SubFloor Oct Dec 70.00 92.60 6,000 552,000 TwoWay…
Type Curves in Williston Basin(1) Middle Bakken Type Curve (MBoe) TFS Type Curve (MBoe) High Midpoint High Low Midpoint Low Years Years Middle Bakken Type Curve Metrics TFS Type Curve Low End Midpoint High End Low End…
Oil Weighted Production WTI Henry Hub Price Disparity (/bbl to /Mmbtu)(1) Oasis Oil and Gas Production (per MBoe) Price Ratio MBoepd % Oil 120 60x 60 100% 90% 100 50x 50 4.9 80% 4.5 4.8 4.6 70% 80 40x 40 3.6 60% 2.8…
Key Metrics by Project Area Total West Williston East Nesson 2014 CapEx Budget (MM) Williston (1) Net a crea ge (000s ) 362 145 507 Dri l l i ng a nd compl eti on 1,250 (1) Es ti ma ted net PDP MMBoe 79.5 34.3 113.7 Oa s i s Mi…
Williston Inventory (1) Gross Net Bakken TFS Total Bakken TFS Total Operated PUD Wells West Williston 201 53 254 134 33 167 East Nesson 85 19 104 61 12 73 Total PUD Wells 286 72 358 195 45 240 NonProven Wells West Williston 829…
Bakken / TFS Drilling Program by Project Area(1) Bakken / Three Forks Producing Wells West Williston East Nesson Total Williston Basin Gross Net Gross Net Gross Net Producing on or before 6/30/14 Operated 364 280.5 173 135.6 537…
Key Company Facts / External Support Oasis Petroleum Inc. Exchange / Ticker NYSE / OAS Shares Outstanding (as of 9/30/13) 101.3 MM Share Price (close on 12/5/14) 14.24 per share Approximate Equity Market Capitalization…
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