Whiting & Oasis Strategic Merger Of Equals May 4, 2022
Combined Company Will Be a Premier Williston Basin Company 972k 164.8 92% 68% 5B equity value NET ACRES Mboepd1 OPERATED2 WORKING INTEREST3 164.8 Mboe/d 1Q22 net production (3-stream)1 Materially Enhanced Scale 97.8 Mbo/d 1Q22 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 ) 234 167 162 149 113 105 97 98 93 78 72 70 66 74 72 60 55 53 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 3.3X 4.2x WOULD EQUATE TO 27% 3.5x UPLIFT IN NEWCO VALUE 3.4x 3.3x 3.2x 3.0x 2.6x…
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/d3 (58% oil cut ) Total…
Oasis Stand-Alone 1Q22 Highlights & 2Q22 Guidance 2 Q2 2 G UIDAN CE RAN G E S 2 I n c l ud i n g E x c l ud in g M i d p o in t 1Q HIGHLIGHTS We a t h e r We a t h e r D i f fe r e nc e Volumes exceeded high-end of guidance Oil Volumes…
Oasis Financial and Operational Results Financial Highlights (MM) 4Q21 1Q22 Key Operating Statistics 4Q21 1Q22 Oil Revenues 312.1 385.9 Oil Production (Boepd) 44,422 44,975 Footnotes Gas Revenues 96.6 107.6 Gas Production (Mcfpd) 146,196…
Combined OAS & WLL Hedge Book & Investment in CEQP H E D GE Q2-22 Q3-22 Q4-22 Q1-23 Q2-23 Q3-23 Q4-23 B O OK NYMEX WTI Oil Swap volume (mbopd) 28.0 28.0 30.0 25.0 16.0 14.0 14.0 Hedging Weighted avg. swap price 72.45 72.45 72.32 61.57…
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