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Emergence from Bankruptcy – Whiting Petroleum Corp.

Whiting Petroleum Corp. · Sep 1, 2020 · 12 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. Emergence from Bankruptcy – Whiting Petroleum Corp. – slide 1
    Whiting Petroleum Emergence Presentation September 2020
  2. Emergence from Bankruptcy – Whiting Petroleum Corp. – slide 2
    The New Whiting Petroleum After successfully emerging from its financial restructuring, THE NEW WHITING PETROLEUM FRAMEWORK FOR A LEADING US SHALE UPSTREAM INDEPENDENT taking proactive steps to refresh its leadership and laying the…
  3. Emergence from Bankruptcy – Whiting Petroleum Corp. – slide 3
    The Right Strategy to Create Shareholder Value WHERE HAVE US SHALE UPSTREAM INDEPENDENTS GONE WRONG HOW IS THE NEW WHITING PETROLEUM DIFFERENTIATED Business models dependent on outspending cash flow and continued Focus and commitment…
  4. Emergence from Bankruptcy – Whiting Petroleum Corp. – slide 4
    Key Management: Unique Track Record with the Portfolio The new senior management team additions are uniquely positioned to manage the Whiting portfolio due to executive leadership roles with Kodiak Oil & Gas (Kodiak), a pure-play…
  5. Emergence from Bankruptcy – Whiting Petroleum Corp. – slide 5
    Fully Refreshed Board: Independent, Qualified and Diverse Kevin McCarthy Lynn Peterson Janet L. Carrig Daniel Rice Paul Korus Anne Taylor Susan Cunningham Committee Roles Chairman, Nominating & Governance and Compensation Committee…
  6. Emergence from Bankruptcy – Whiting Petroleum Corp. – slide 6
    Commitment to ESG and Safety Measures in Everything We Do FOUR PILLARS OF SUSTAINABILITY SAFETY GOVERNANCE ENVIRONMENTAL SOCIAL The safety of our Completed entire Board of Committed to meeting gas Continued focus on employees,…
  7. Emergence from Bankruptcy – Whiting Petroleum Corp. – slide 7
    Mission to Deliver Capital Efficiency and Sustained Cash Flow RETURNS-BASED BUSINESS MODEL PORTFOLIO OPTIMIZATION TRANSITION TOWARDS SUSTAIN AND ENHANCE SUSTAINABLE SHAREHOLDER IN-BASIN SCALE / EFFICIENCIES RETURNS PRUDENT…
  8. Emergence from Bankruptcy – Whiting Petroleum Corp. – slide 8
    Repositioned as a Dominant Williston Basin Independent THE WHITING SCALE ADVANTAGE WILLISTON BASIN PEER NET LEVERAGE With one of the largest footprints in the Williston Basin, Whitings NET DEBT + PREFERRED EQUITY / LTM EBITDAX 4.7x…
  9. Emergence from Bankruptcy – Whiting Petroleum Corp. – slide 9
    Simplified and De-Levered Capital Structure Total debt reduction of 3 billion with WHITING CAPITAL STRUTURE AT EMEGENCE annual interest expense lowered by 140mm following Whitings reorganization Initial borrowing base of 750 million…
  10. Emergence from Bankruptcy – Whiting Petroleum Corp. – slide 10
    Opportunity-Rich Consolidation Landscape VALUE-ENHANCING OPPORTUNITY SET WILLISTON BASIN LOCATOR MAP Whiting uniquely positioned to consider value-enhancing consolidation in North Dakota the Williston Basin Low-leverage capital…
  11. Emergence from Bankruptcy – Whiting Petroleum Corp. – slide 11
    Downside Protection Enhances Cash Flow Visibility OIL Q3 2020 Q4 2020 Bal 2020 Q1 2021 Q2 2021 Q3 2021 Q4 2021 2021 2022 Total Oil Hedges Daily Hedged Volume (Bopd) 17,011 31,000 27,147 29,000 27,000 21,870 15,500 23,301 9,310 Weighted…
  12. Emergence from Bankruptcy – Whiting Petroleum Corp. – slide 12
    Business Plan Submitted on June 29, 2020 PREVIOUS 2021E (CALENDAR YEAR) BUSINESS PLAN Benchmark Pricing(1) WTI Oil (/Bbl) 38.03 Mt. Belvieu Propane (/Boe) 18.11 Henry Hub Gas (/Mcf) 2.67 Realized Pricing NOTICE TO RECIPIENTS: WTI…

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