Building a Stronger, Sustainable Oasis: Transformational Actions to Enhance Shareholder Value August 2021 A New Tomorrow, Today A New Tomorrow, Today Nasdaq: OAS
Transforming into Dominant Williston Basin Pure Play Transforming Oasis Tailored to New Environment Todays Oasis has an industry leading financial profile tailored to Increasing asset size and scale in Consolidation to build scale and…
Summary of Select Actions to Enhance Value and Return Cash Strategic Priority Our Performance in 2021 Williston acquisition: Adds scale at compelling valuation (28k/Boepd 2 stream/26k/Boepd 3 stream) Strategic Focus / Simplified…
Progress on Key Strategic and Financial Priorities Returns: Capital allocation committee reviews options in rigorous, systematized framework Free cash generation: 2021 estimated FCF of…
Overview Pro Forma for Strategic A&D Transactions Oasis Acreage Position Strategic Rationale for A&D Adding scale to Cornerstone Asset Net A&D impact results in paying 264MM for 155MM of EBITDA (1.7x)1 Acquired asset expected to…
Best-in-Class Balance Sheet Supports New Business Model Most Recent Net Debt / 2021E EBITDA1 3.5 3.3 Current Capital Structure Highlights2 3.2 Equity 3.0 2.8 21MM shares of common stock 2.5 2.2 2.0 191k shares repurchased PEER…
Significant Upside Potential for OAS Shares OAS Adjusted EBITDA(MM)1 Implied Upstream EV / EBITDA(MM)2 Pro Forma 2021E Consensus 2022E 696 OAS EV 2,146 2,146 631 - 656 - OAS' OMP LP unit value 738 738 OMP LP 76 = Upstream EV 1,408…
Focused ESG Initiatives And Best Practices Environmental Social Responsibility Governance Increased female (+18%) and minority Best in Class Gas Capture (+39%) percent of the total professional Board of Directors Flared gas 50%+…
Generating More Significant Cash Flow to Benefit Shareholders 2022E FCF to EV Yield1,2,3 20% Invest well within cash flow 18% 18% Rigorous capital discipline focused 17% 16% on corporate level returns 16% 15% Reinvestment rate…
Capital Allocation Framework Systematic Investment Framework Capital Investment Cycle Return to Shareholders via Dividend or Share Repurchase Return of Capital Allocation Accountability Debt Repayment Allocate Capital Compare…
Driving Better Margins And Increased Capital Productivity Improving E&P LOE per Boe1 Proactive E&P Cash G&A E&P Capital Budget Reductions Performance Reductions2 ( per Boe) (MM)3 7% 10.50 10.25 2.15 585 9.25 37% 65% 1.40 1.30…
Premier Bakken Position Maintain production of approximately 72 Mboe/d in 2022 and beyond 497k 72 87% 76% Net Acres Mboepd1 Operated2 Working Sustainable Free Estimated CapEx of approximately 300MM in 2022 Interest2 Cash Flow 2022…
City of Williston/Painted Woods Case Study Project Summary 100+ well completions expected 2022-2025 Red Bank City of Williston Conservative spacing pattern maximizes capital efficiency Montana City of Williston Average F&D…
Midstream Actions Created Significant Shareholder Value Oasis Midstream Partners is a premier G&P MLP with strong coverage, solid balance sheet, and proven track record of capturing third party business1 Cash Inflow & Debt…
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 New…
Appendix A New Tomorrow, Today Nasdaq: OAS 18
Highly Experienced Management Team with Fresh Perspective Senior management team with extensive expertise in the oil and gas industry NIKO DANNY BROWN TAYLOR REID MICHAEL LOU Chief Executive Officer President & Chief…
Board Driving Our Strategic Plan Independent, Douglas E. Daniel E. Samantha F. John D. N. John Robert J. Cynthia L. Brooks Brown Holroyd Jacobi Lancaster, Jr. McNally Walker experienced and OAS Roles / Board Chair Director Chair of…
Incentives Aligned with Long-Term Value Creation 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…
Impact of 2 Stream vs 3 Stream Production Reporting Implied Upstream EV / 2022E Boepd1 OAS EV 2,146 - OAS' OMP LP unit value 738 Discount to Peers /Boepd = Upstream EV 1,408 Normalizing Relative Valuation Three-Stream MBoepd 79.2 =…
Updated Guidance1 (MM except per unit) Excludes Includes Acquisition Acquisition OAS E&P Metrics 3Q21 4Q21 OMP Cash Flow Attributable to OAS3 Oil Volumes (Mbbl/d) 31.0 - 33.0 49.5 - 51.5 2021 2021E PF OMP Capital MM Distribution…
Oasis Financial and Operational Results See subsequent slides for reconciliations Financial Highlights (MM) 1Q21 2Q21 Key Operating Statistics 1Q21 2Q21 Footnotes Oil Revenues 185.8 206.7 Oil Production (Boepd) 36,806 34,668 Gas Revenues…
Reconciliation from Consolidated Financial Statements to E&P Business Adjusting for midstream benefits and credits MM except per unit 1Q21 2Q21 Consolidated() Adjustment1() E&P() Consolidated() Adjustment1() E&P() Revenue 59.6 -10.6…
Loading...
