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Summer 2021 Positioned to Succeed – Whiting Petroleum Corp.

Whiting Petroleum Corp. · Jul 1, 2021 · 11 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. Summer 2021 Positioned to Succeed – Whiting Petroleum Corp. – slide 1
    Whiting Petroleum Summer 2021 Positioned to Succeed
  2. Summer 2021 Positioned to Succeed – Whiting Petroleum Corp. – slide 2
    Positioned to Succeed in Todays E&P Business Environment Whitings Framework to Succeed as a Leading Shale Upstream Independent Market Statistics Ticker (NYSE) WLL Peer-leading debt coverage of less than 0.2x debt to EBITDAX(4) Share…
  3. Summer 2021 Positioned to Succeed – Whiting Petroleum Corp. – slide 3
    Mission to Deliver Shareholder Value RETURNS-BASED BUSINESS MODEL PORTFOLIO OPTIMIZATION PREDICTABILITY: LARGE PDP RESOURCE INCREASE INVENTORY WITH STRATEGIC IN WELL UNDERSTOOD BASINS ACQUISITIONS PRUDENT CAPITAL DISCIPLINE WITH…
  4. Summer 2021 Positioned to Succeed – Whiting Petroleum Corp. – slide 4
    ESG: Committed to Achieving Results while Improving Sustainability Environment Social Governance Expanded Life Saving Rules Diverse Board of Gas capture and emissions to all employees and Independent Directors continue to…
  5. Summer 2021 Positioned to Succeed – Whiting Petroleum Corp. – slide 5
    2021 Guidance An operating plan designed to provide free cash flow and further strengthen balance sheet Previous Guidance Updated Guidance Oil production (MBO per day) 48 52 50 53 Total production (MBOE per day) 82 88 88 92…
  6. Summer 2021 Positioned to Succeed – Whiting Petroleum Corp. – slide 6
    Williston Basin Overview ACREAGE POSITION Large, oily PDP base generates meaningful free cash flow Montana / North Dakota A mature basin with well understood relationships between legacy and 478k net acres (2) new wells decreases…
  7. Summer 2021 Positioned to Succeed – Whiting Petroleum Corp. – slide 7
    Sanish Acquisition is a Strategic Bolt-On to a Top-Tier Asset Sanish Acquisition Inventory added within Sanish field core that is competitive with existing top-tier acreage in the region Well economics throughout acquired acreage will…
  8. Summer 2021 Positioned to Succeed – Whiting Petroleum Corp. – slide 8
    Efficiencies through Process Improvements 2021 Drilling Performance 2021 Coiled Tubing Drill Out Performance Average Lateral ROP (distance (ft.) / hour) History of Coiled Tubing Time per Well (hours) 80 400 350 300 60 250 200…
  9. Summer 2021 Positioned to Succeed – Whiting Petroleum Corp. – slide 9
    Available Crude Takeaway Capacity Supports Strengthened Differentials Ample Williston Basin Crude Takeaway Capacity (MBbl/d) 2000 1800 1600 1400 1200 1000 800 600 400 200 0 Jan-21 Jul-21 Jan-22 Jul-22 Jan-23 Jul-23…
  10. Summer 2021 Positioned to Succeed – Whiting Petroleum Corp. – slide 10
    Commodity Price Risk Management A disciplined and methodical approach to hedging Hedge Portfolio Composition Oil Settlement Derivative Total Swap 21% Commodity Period Index Instrument Volumes Units Price Floor Ceiling 32% Crude Oil…
  11. Summer 2021 Positioned to Succeed – Whiting Petroleum Corp. – slide 11
    EBITDA & EBITDAX Reconciliation (Thousands) Q2-2021 Q1-2021 Q4-2020 Q3-2020 Q2-2020 3 Months Ended 3 Months Ended 3 Months Ended 3 Months Ended 3 Months Ended June 30, 2021 March 31, 2021 December 31, 2020 September 30, 2020 June 30,…

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