Building a Stronger, More Sustainable Oasis: Transformational Actions to Enhance Shareholder Value November 2021 A New Tomorrow, Today A New Tomorrow, Today Nasdaq: OAS
Merger Disclosure No Offer or Solicitation Participants in the Solicitation This communication relates to the proposed transaction between OMP and Crestwood. This communication is for Crestwood, OMP and their respective directors,…
Strategic Merger of OMP and Crestwood Equity Partners (CEQP) OMP merging with CEQP with Oasis receiving a combination of cash and stock for its interest in OMP 33.85MM common OMP LP units for 150MM in cash and 21.0MM CEQP common LP…
Combination Creates Premier, Diversified Midstream Franchise Pro Forma Highlights Diversified Midstream Position Across 5 Basins Robust Nationwide Platform Enterprise Value (Bn) OMP Status Quo Pro Forma 6.9 OMP Pipeline 615 2,571…
Transforming Oasis into Premier Operator Strategic Rationale for Oasis 1 Oasis receives significant value for its interest in OMP, addressing sum of the parts disconnect Oasis deconsolidates financials post close highlighting E&P…
The Financial Impact to Oasis Oasis E&P Valuation (MM) Consolidated (before OMP Merger)4 OAS 3Q21 OAS Pro Forma 3,500 Balance Sheet (MM) Consolidated Deconsolidated 3,000 723 Cash OMP 821 2,500 631 OAS Cash 819 979 OAS 92 OMP Cash…
The Oasis Value Proposition vs. Peers EV / 2022E EBITDA1 EV / 2022E EBITDA(MM)3 4.2 x Consensus 2022E OAS EV 2,313 2.3 x - OAS' ownership in CEQP 636 = Upstream EV 1,677 = 2.3x E&P Adjusted EBITDA 734 Peer Avg. OAS E&P 2022E…
Key Accomplishments Transforming Oasis 2021 Strategic Accomplishments Exited the Permian, while building scale in Williston Basin Executed multiple transactions delivering significant value from OMP to Oasis shareholders Cash to…
Significant Cash Generation and Return of Capital in 2021 March 22 May 20 June 29 October 26 Oasis announces sale of Oasis announces strategic Oasis announces Oasis announces merger of remaining DevCo interests sale of its Permian…
Oasis Next Steps Transitions to Building on Accomplishments and Driving Future Value Maintain Enhance returns (corporate and shareholder) and increase free cash flow without Capital accelerating activity on current assets Discipline…
Oasis is the Premier E&P Investment Opportunity Focused on delivering competitive shareholder returns 497k 77.7 87% 76% Returns-Focused with low-cost assets Net Acres Mboepd1 Operated Working Business Model 2.00/share annualized…
Appendix A New Tomorrow, Today Nasdaq: OAS 13
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%+…
Driving Better Margins And Increased Capital Productivity Improving E&P LOE per Boe1 Proactive E&P Cash G&A 2021 E&P Capital Plan Performance Reductions2 ( per Boe) Reductions at time of Announcement (MM)3 10% 230 15% 9.75 215…
Updated Guidance (MM except per unit) Estimate Includes Actuals1 Acquisition2 OAS E&P Metrics 3Q21 4Q21 OMP Cash Flow Attributable to OAS in 20213 Oil Volumes (Mbbl/d) 31.9 44.0 - 46.0 2021 2021E PF OMP Capital MM Distribution…
Oasis Financial and Operational Results See subsequent slides for reconciliations Financial Highlights (MM) 2Q21 3Q21 Key Operating Statistics 2Q21 3Q21 Footnotes Oil Revenues 206.7 205.7 Oil Production (Boepd) 34,668 31,896 Gas Revenues…
Reconciliation from Consolidated Financial Statements to E&P Business Adjusting for midstream benefits and credits MM except per unit 2Q21 3Q21 Consolidated() Adjustment1() E&P() Consolidated() Adjustment1() E&P() Revenue 48.5 -10.5…
Oasis and OMP Financial Highlights OAS & OMP Balance Sheet on 9/30/21 (MM) OMP Financial Highlights 3Q21 Actuals (MM) OAS (E&P) OMP Bighorn Bobcat Beartooth Panther Total Revolving Credit Facility Gross Operating Income 16.1 24.6 6.5…
Contact Information Oasis Petroleum 1001 Fannin Street, Suite 1500 Houston, Texas, 77002 Main: (281) 404-9500 Owner Relations (Toll Free): (855) 209-8370 Investor Relations: Danny Brown (CEO) Michael Lou (CFO) Bob Bakanauskas…
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