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4Q 2021 Earnings Presentation – Whiting Petroleum Corp.

Whiting Petroleum Corp. · Feb 24, 2022 · 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. 4Q 2021 Earnings Presentation – Whiting Petroleum Corp. – slide 1
    CORPORATE PRESENTATION Driving Operational Excellence FEBRUARY 2022
  2. 4Q 2021 Earnings Presentation – Whiting Petroleum Corp. – slide 2
    Whitings Framework to Succeed as a Leading Shale Upstream Independent Delivering a FCF yield in excess of 20%(1) Substantial free cash flow generation in todays price environment WILLISTON BASIN Industry competitive fixed dividend…
  3. 4Q 2021 Earnings Presentation – Whiting Petroleum Corp. – slide 3
    Mission to Deliver Shareholder Value Returns-Based Business Balance Sheet Resilience Portfolio Optimization Model Across Cycles Leverage asset base to deliver PREDICTABILITY - Large PDP MAINTAIN conservative debt meaningful FREE CASH…
  4. 4Q 2021 Earnings Presentation – Whiting Petroleum Corp. – slide 4
    Evolving Return of Capital Program PROGRAM RESILIENCE ACROSS CYCLES 0.25/share per quarter Initiated fixed dividend Ability to modify over time Resilience in volatile cycles Increase fixed dividend Peer competitive Stock repurchase…
  5. 4Q 2021 Earnings Presentation – Whiting Petroleum Corp. – slide 5
    ESG: Committed to Achieving Results while Improving Sustainability ENVIRONMENT SOCIAL GOVERNANACE Gas capture and Expanded Life Saving Diverse Board of emissions continue to Rules to all employees Independent Directors improve and…
  6. 4Q 2021 Earnings Presentation – Whiting Petroleum Corp. – slide 6
    2022 Guidance Designed for operation efficiency and maximum free cash flow Full-Year Guidance Oil production (MBO per day) 52 55 Total production (MBOE per day) 91 95 Capital expenditures (mm) 360 400 Lease operating expenses (mm)…
  7. 4Q 2021 Earnings Presentation – Whiting Petroleum Corp. – slide 7
    Williston Basin Overview ACREAGE POSITION Large, oily PDP base generates meaningful free cash flow A mature basin with well understood relationships between Montana / North Dakota 480k net acres legacy and new wells decreases…
  8. 4Q 2021 Earnings Presentation – Whiting Petroleum Corp. – slide 8
    Non-operated Sanish Working Interest Acquisitions ATTRACTIVE PROJECT ECONOMICS (MM) Increase average operated working interest from 61% to 74% Impacts many of the drilling units in 2022/2023 589 program 524 Recent well results have…
  9. 4Q 2021 Earnings Presentation – Whiting Petroleum Corp. – slide 9
    Efficiencies Through Process Improvements 2021 DRILLING PERFORMANCE 2021 COILED TUBING DRILL OUT PERFORMANCE Average Footage (ft/day) Total Drill Out Time (hours) 70 3,500 60 3,000 50 2,500 2,000 40 1,500 30 1,000 20 500…
  10. 4Q 2021 Earnings Presentation – Whiting Petroleum Corp. – slide 10
    Available Crude Takeaway Capacity Supports Strengthened Differentials WILLISTON BASIN CRUDE TAKEAWAY CAPACITY (MBbl/d) 2,000 1,800 1,600 1,400 1,200 1,000 800 600 400 200 Jan-21 Jul-21 Jan-22 Jul-22 Jan-23 Jul-23 Jan-24…
  11. 4Q 2021 Earnings Presentation – Whiting Petroleum Corp. – slide 11
    Commodity Price Risk Management A disciplined and methodical approach to hedging OIL Settlement Derivative Total Swap Oil Commodity Index Units Floor Ceiling Period Instrument Volumes Price Swap Natural 18% Gas Swap Crude Oil Bal…
  12. 4Q 2021 Earnings Presentation – Whiting Petroleum Corp. – slide 12
    EBITDA & EBITDAX Reconciliation (Thousands) Q4-2021 Q3-2021 Q2-2021 Q1-2021 Q4-2020 3 Months Ended 3 Months Ended 3 Months Ended 3 Months Ended 3 Months Ended December 31, 2021 September 30, 2021 June 30, 2021 March 31, 2021 December…

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