Insert Title Whiting & Oasis February 2022 Strategic Merger Of Equals March 7, 2022
Important Disclosures No Offer or Solicitation Communications in this investor presentation do not constitute an offer to sell or the solicitation of an offer to subscribe for or buy any securities or a solicitation of any vote or…
Combined Company Will Be a Premier Williston Basin Company 972k 167.8 92% 68% 6B equity value NET ACRES Mboepd1 OPERATED2 WORKING INTEREST3 167.8 Mboe/d 4Q21 net production (3-stream)1 Materially Enhanced Scale 97.3 Mbo/d 4Q21 net…
Transaction Overview 0.5774 OAS shares and 6.25 of cash per WLL share Transaction Special dividend of 15.00 per share to OAS shareholders at close Structure Pro forma equity ownership: 53% WLL and 47% OAS1 Lynn Peterson Executive…
Transaction Accretive on Key Metrics for Both Companies E&P Cash Flow Per Share and Free Cash Flow Per Share1 Return of Capital Per Share Size and Scale Net Asset Value Credit Profile and Cost of Capital 1) Pro forma…
Premier Management Team Aligned with Shareholders Combines talented teams and operating best practices from both companies Brings together management Lynn Peterson Danny Brown teams with deep energy industry, Executive Chair of the…
Premier Williston Operator with Top-Tier Assets WILLISTON NET ACREAGE BY OPERATOR ( 000s) 972 772 560 492 480 480 460 255 239 85 PF Combo CLR COP OAS WLL XOM HES MRO ERF DVN WILLISTON NET PRODUCTION BY OPERATOR 1 191 168 159…
Significant FCF Generation Accretive to Return of Capital Program in 2022 A C C R E T I V E R E T U R N O F C A P I TA L 2 H 2 2 E F C F G E N E R AT I O N AT VA R I O U S W T I P R I C E S PROGRAM FOR 2022 Pre-close: 1,200 Current…
Key Tenets of ESG Philosophy Minimizing impact where we operate Safety Always Reducing our land impact and water use through Maintaining the safety of employees, investment in infrastructure and optimized operations. contractors, and…
Impressive Record of Emissions Reduction WLL + OAS G H G E M ISSION S IN TE N SIT Y ( TCO2 E / M B OE )RED U CTION S SIN CE 2 01 8 1 41.7 (28%) (47%) 30.2 16.1 2018 2019 2020 2 0 2 0 G H G E M ISSION IN TE N SIT Y ( TCO2 E / M…
Attractive Pro Forma Positioning 2 0 2 2 E N E T P ROD UCTION ( M B OE/D AN D M B O/ D ; WALL ST. CON SE N SUS E STIM ATE S 1 ) 232 168 163 150 112 104 101 98 94 77 73 71 66 75 72 59 54 54 44 32 (2) Peer A NewCo (2) Peer B…
Significant Upside Potential E N TE RP RISE VALUE / 2 0 2 2 E E B ITDAX WA L L S T. C O N S E N S U S E S T I M AT E S 1 TRADING AT MEDIAN OF 4.01X 6.1x WOULD EQUATE TO 25% UPLIFT IN NEWCO VALUE 4.7x 4.3x 4.1x 3.9x 3.8x 3.2x…
Whiting + Oasis = Premier FCF Focused E&P Premier Williston Operator Significant and Resilient Capital Returns Program to with Top Tier Assets Free Cash Flow Generation Deliver Significant Value Enhances size and scale with high…
Appendix 15
Combined 2022 Program Maximizes Returns 2022 GUIDANCE RANGE S 2 HIGHLIGHTS Oil Volumes (Mbbl/d) 94.0 - 100.0 Investing 655-695MM in attractive 3-stream volumes of 164-169 projects across core of Williston Mboe/d2 (58% oil cut ) Total…
Combined Hedge Book & Investment in CEQP H E D GE Q1-22 Q2-22 Q3-22 Q4-22 Q1-23 Q2-23 Q3-23 Q4-23 B O OK NYMEX WTI Oil Swap volume (mbopd) 30.4 28.0 28.0 30.0 25.0 16.0 14.0 14.0 Hedging Weighted avg. swap price 67.42 72.45 72.45 72.32…
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