Building a Strong Sustainable Oasis: Our New E&P Model March 2021 A New Tomorrow, Today A New Tomorrow, Today Nasdaq: OAS
A Stronger Oasis Aligned with Shareholder Interests Returns-Focused ESG Leadership Business Model High Quality Assets Strong Strategic Generating Significant Direction Aligned Free Cash Flow with Shareholders Best-in-Class The…
New Oasis Built for the New Environment New Oasis New Environment Todays Oasis has an industry leading financial profile tailored to the new environment. We are Best-in-class balance sheet (p. 9) Generate free cash flow and focused…
Progress on Strategic and Financial Priorities Free cash generation: Forecasting 155-175MM of free cash flow in 20211 Return of capital: Instituted inaugural fixed dividend of 0.375/share (1.50/share annualized) New Business Model…
Implementing ESG Initiatives And Best Practices Environmental, Health and Safety Human Capital Governance Best in Class Gas Capture Increased female (+15%) and minority New Board of Directors (+39%) percent of the total professional…
Generating Significant Cash Flow to Benefit Shareholders 16% 15% 15% 14% 2021E FCF Yield1,2,3 Invest well within cash flow 14% OAS at 50/bbl WTI Rigorous capital discipline focused Peers at consensus WTI on corporate level…
Capital Allocation Framework Systematic Investment Framework Capital Investment Cycle Return to Shareholders via Dividend or Share Repurchase Return of Capital Allocation Accountability Allocate Capital Compare Debt Repayment…
Best-in-Class Balance Sheet Supports New Business Model YE20 Net Debt / 2021E EBITDAX1 6 New Capital Structure Highlights2 5 4.4 Equity 4 20.4MM shares of common stock 3.4 3 PEER AVERAGE: 2.5X 2.6 2.6 2.7 2.5 2.3 2.2 Debt and…
Driving Better Margins And Increased Capital Productivity Improving E&P LOE per Boe1 Proactive E&P Cash G&A Capital Budget Reductions3,4 Performance Reductions2 (MM) (MM) 10.50 5% 10.50 49 25% 585 9.50 61% Below 37 1.60 235…
Significant Cash Flow from Midstream Provides Material Value OAS Adjusted EBITDAX(MM)1 OMP Distributions 2021E OAS EBITDAX at 50/bbl WTI 2021E 2021E GP Total Distribution per OMP Capital Structure MM % of Total Distribution…
Bakken Cornerstone Asset Cottonwood Competitive Advantages 404k Net Acres Contiguous core asset with Strong FCF from proven / 87% of OAS production and highly predictable asset North 51.3 strong cash margins base Red Bank Alger…
Bakken - Deep Top-Tier Inventory Bakken Inventory Overview OAS Williston Basin Performance1 25 12 Month Total Oil (Mbbl/1,000) 10+ years of top-tier inventory at 2021 completion pace Breakevens between 30-45 WTI w/15% discount rate…
Permian Premier, Multi-Stacked Oil Focused Asset Competitive Advantages 24k Net Acres Repeatable, capital efficient Strong inventory and compelling deployment economics 7.9 Advantaged geologic position Optimizing parent-child Mboepd1…
Permian Inventory Positioned for Long-Term Returns Permian Inventory Overview Updated View on Spacing Wells per Zone 10+ years of top-tier inventory at 2021 completion pace 3rd Bone Springs Shale Measured program generates attractive…
Midstream Position Generates FCF and Creates Optionality Oasis Midstream Partners (OMP) Position Significant (68%) ownership position in top tier midstream company OMP is a leading owner, developer, operator and acquirer of a…
A Stronger Oasis Aligned with Shareholder Interests Returns-Focused ESG Leadership Business Model High Quality Assets Strong Strategic Generating Significant Direction Aligned Free Cash Flow with Shareholders Best-in-Class The…
Appendix A New Tomorrow, Today Nasdaq: OAS 19
New Board Driving Our Strategic Plan Independent, Douglas E. Samantha F. John D. N. John Robert J. Cynthia L. Brooks Holroyd Jacobi Lancaster, Jr. McNally Walker experienced and OAS Roles / Board Chair Lead Independent; Chair of…
Highly Experienced Management Team Senior management team with extensive expertise in the oil and gas industry NIKO DOUG BROOKS TAYLOR REID MICHAEL LOU Board Chair & Chief President & Chief LORENTZATOS EVP & Chief Financial…
Incentives Aligned with Long-Term Value Creation1 Vesting Schedule Time-Based 100% 25% 25% 25% 25% RSUs RSUs - 4 year ratable vesting 50% 100% Relative TSR Relative TSR PSU - Peers PSUs vs. 50% 3 year and 50% 4 year vesting…
Oasis Financial and Operational Results See slides 25 & 26 for reconciliations Financial Highlights (MM) 3Q20 4Q20 Key Operating Statistics 3Q20 4Q20 Footnotes Oil Revenues 155.1 143.0 Oil Production (Boepd) 43,748 38,646 Gas Revenues…
4Q20 Consolidated Financial Metrics (MM) Select Consolidated Financial Statistics 1) On November 19, 2020 (the Emergence Date) Oasis emerged from voluntary bankruptcy under 1 Chapter 11 of the Bankruptcy Code. Beginning on the Emergence…
Reconciliation from Consolidated Financial Statements to E&P Business Adjusting for midstream benefits and credits MM except per unit 3Q20 4Q20 Consolidated() Adjustment1 () E&P() Consolidated() Adjustment1() E&P() Revenue 24.5 -9.7…
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