Building a Stronger, More Sustainable Oasis Strong Assets Allowing Oasis to Return Significant Amounts of Capital to Shareholders February 2022 A New Tomorrow, Today Nasdaq: OAS
Oasis is the Premier E&P Investment Opportunity Focused on delivering competitive shareholder returns with 492k 68.8 92% 77% Returns-Focused Business low-cost assets Net Acres2 Mboepd2 Operated2 Working Model Returning 280MM to…
Returning 280MM of Capital to Shareholders in 2022 Three pronged approach to return of capital Solid Foundation Provides Confidence in Capital Return Program Basically unlevered at YE21 net debt of 68MM Committed to returning 70MM per…
Key Accomplishments Transforming Oasis 2021 Strategic Accomplishments Exited the Permian, while building scale in Williston Basin Executed multiple transactions unlocking significant value from OMP to Oasis shareholders Cash to…
Closed OMP Merger with CEQP Transforming Oasis into Premier Operator 1 Oasis received significant value for its interest in OMP, addressing sum of the parts disconnect Oasis deconsolidates financials highlighting E&P operations Oasis…
Simplified Financial Structure Oasis Enterprise Value (MM)2 Oasis Balance Sheet Cash (12/31/21): 172MM CEQP Payment: 160MM Pro forma cash: 332MM OAS credit facility: 0 OAS Senior Notes: 400MM Pro forma net debt: 68MM…
The Oasis Value Proposition vs. Peers EV / 2022E EBITDA1 EV / 2022E EBITDA(MM)3 3.8x 2.8x 2022E OAS EV 2,844 - OAS' ownership in CEQP 599 = Upstream EV 2,246 OAS EBITDA (midpoint) 806 = 2.8x Peers OAS 2022E FCF to EV…
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…
2022 Program Designed to Maximize Returns 2022 Program Highlights 295MM in spending 2021/2022E CapEx 70MM below expectations Cottonwood Reinvestment rate below 40%1 40-42 Gross operated wells 72% Working interest 25% 3-mile…
Focused ESG Initiatives And Best Practices Environmental Social Responsibility Governance Increased female (+27%) and minority Best in Class Gas Capture (+24%) percent of the total workforce since Board of Directors Flared gas 50%+…
Key Tenets of Oasis ESG Philosophy Minimizing impact where we operate Working safely Reducing our land impact and water use through Maintaining the safety of employees, contractors, investment in infrastructure and optimized and…
Appendix A New Tomorrow, Today Nasdaq: OAS 13
OMP/CEQP Combination Creates Premier, Diversified Midstream Franchise Pro Forma Highlights1 Diversified Midstream Position Across 5 Basins Robust Nationwide Platform2 Enterprise Value (Bn) OMP Status Quo Pro Forma 6.9 OMP Pipeline…
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…
Guidance (MM except per unit) CEQP Cash Flow Attributable to OAS in 2022 OAS E&P Metrics 1Q22 FY22 CEQP MM 2022 Distribution 2022E PF Capital Structure per Unit Distribution (MM) Oil Volumes (Mbbl/d) 42.5 - 43.5 42.0 - 45.0 Public…
Oasis Financial and Operational Results See subsequent slide 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…
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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