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June 2014 Investor Presentation – Kodiak Oil & Gas Corp.

Kodiak Oil & Gas Corp. · Jun 1, 2014 · 18 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. June 2014 Investor Presentation – Kodiak Oil & Gas Corp. – slide 1
    Investor Presentation June 2014 Exploring, developing and producing oil and natural gas in the Williston Basin. NYSE: KOG l www.kodiakog.com
  2. June 2014 Investor Presentation – Kodiak Oil & Gas Corp. – slide 2
    Kodiak Overview Williston Basin Acreage: 171,000 net acres 2014E Rig Count: 7 Operated and 1-3 Non-Operated 2014E Capex: 940MM 2014 Production Guidance: 39,000-42,000 Boe/d Proved Reserves: 167.3 MMBoe (83% Oil) Proved…
  3. June 2014 Investor Presentation – Kodiak Oil & Gas Corp. – slide 3
    Consistent Production Growth 50,000 Actual Sales Boe/d 2014 Guidance: Projected Sales Boe/d 39,000-42,000 Boe/d 45,000 40,000 35,000 29,200 Boe/d 30,000 Boe/d 25,000 20,000 14,400 Boe/d 15,000 10,000 3,900…
  4. June 2014 Investor Presentation – Kodiak Oil & Gas Corp. – slide 4
    Capital Investment Overview Capital Expenditures1 Completed Net Wells Per Year ( in millions) 1,020 100 100 Actual 940 Estimated 810 63 261 16 82 7 27 5 2009 2010 2011 2012 2013 2014E 2009 2010 2011 2012 2013 2014E 1…
  5. June 2014 Investor Presentation – Kodiak Oil & Gas Corp. – slide 5
    Proved Reserve Summary 12/31/2013 Proved Reserves1 and PV-10 Kodiak Net Proved Reserves as of December 31, 2013 Reserve Category Oil Gas Total SEC PV-10 (MMbbls) (Bcf) (MMboe) (B) Proved Developed Producing 63.9 78.8 77.1 2.4 Proved…
  6. June 2014 Investor Presentation – Kodiak Oil & Gas Corp. – slide 6
    Williston Asset Overview 171,000 Net Acre Position Polar, Koala, Ursid & Dunn County Smokey Divide 40,000 Net Acres 111,000 Net Acres Williams Burke EURs: 800 - 950+ EURs: 600 - 950+ MBOE MBOE 80% NRI Mountrail 82% NRI 950 Net…
  7. June 2014 Investor Presentation – Kodiak Oil & Gas Corp. – slide 7
    Well Economics Overview 30 Middle Bakken 400 Bakken Long Lateral 900 MBOE Dunn County Sample Three Forks 350 WTI Differential Well Cost NPV-10 Payout 25 (/bbl) (/bbl) (MM) (MM) IRR (m onths) Cumulative Production (MBbls) 300…
  8. June 2014 Investor Presentation – Kodiak Oil & Gas Corp. – slide 8
    Pilot Program Production Update Average Production per Well (BOE/d) Polar Pilot 1.0 30 60 90 120 150 180 210 Days Days Days Days Days Days Days Middle Bakken (6 wells) 1,020 845 735 666 611 562 518 Three Forks (6 wells) 933 751…
  9. June 2014 Investor Presentation – Kodiak Oil & Gas Corp. – slide 9
    Polar: Maximizing the Economics of DSUs Hypothetical Outcomes 8 Wells per DSU 12 Wells per DSU 16 Wells per DSU A Conventional View of an Unconventional 1 Mile Reservoir 2 Miles Well 1,000 Feet 800 Feet 600 Feet Spacing…
  10. June 2014 Investor Presentation – Kodiak Oil & Gas Corp. – slide 10
    Financial Strategy Strive to maintain conservative balance sheet which Hedges preserves financial flexibility Liquidity of 650 million 91.26 30,000 93.29 93.29 88.48 100 Growth in EBITDA reducing long-term debt 25,000 75 20,000…
  11. June 2014 Investor Presentation – Kodiak Oil & Gas Corp. – slide 11
    Approaching Cash Flow Breakeven Unhedged Cash Margin (/BOE) Capital Expenditures and Adjusted EBITDA1 1,200 Adjusted EBITDA Capex Kodiak projects 91.97 EBITDA to closely 84.51 1.87 align with capex 2.67 in 2014 82.15 83.93…
  12. June 2014 Investor Presentation – Kodiak Oil & Gas Corp. – slide 12
    Moving Crude Out of North Dakota Rail to Anacortes 9-10/bbl 3,000,000 2,500,000 Pipe to Clearbrook 2-3/bbl Rail to E. Coast 14-17/bbl Rail to CA 13-15/bbl 2,000,000 Pipeline / Refinery Pipe to Cushing 5/bbl…
  13. June 2014 Investor Presentation – Kodiak Oil & Gas Corp. – slide 13
    Key Investment Highlights Drill-bit Development Asset scale, Conservative focused of low-risk technical financial producer drilling knowledge philosophy with large inventory and and proactive acreage with infrastructure…
  14. June 2014 Investor Presentation – Kodiak Oil & Gas Corp. – slide 14
    Polar Pilot 1.0 Project Kodiak completed two downspacing pilot programs in 2013 with 12-wells in each 1280-acre drilling spacing unit (DSU) testing 800 foot spacing between wellbores. Polar Pilot 1.0 Production Rates IP 24-hour…
  15. June 2014 Investor Presentation – Kodiak Oil & Gas Corp. – slide 15
    Polar Pilot 2.0 Project Kodiak is currently pursuing a second downspacing pilot program in 2014 with 16-wells in a 1280-acre drilling spacing unit (DSU) testing 600-650 foot spacing between wellbores. KODIAK KODIAK KODIAK KODIAK P…
  16. June 2014 Investor Presentation – Kodiak Oil & Gas Corp. – slide 16
    Smokey Pilot Project Kodiak completed two downspacing pilot programs in 2013 with 12-wells in each 1280-acre drilling spacing unit (DSU) testing 800 foot spacing between wellbores. Smokey Pilot Production Rates IP 24-hour 30 Day…
  17. June 2014 Investor Presentation – Kodiak Oil & Gas Corp. – slide 17
    Cash Margin Reconciliation Reconciliation of Cash Margin (non-GAAP) to Gross Margin (GAAP) Three Months Ended 2Q13 3Q13 4Q13 1Q14 Unhedged Sales Price Oil (/Bbls) 88.88 98.19 85.09 88.62 Gas (/Mcf) 1 6.16 6.32 6.61 8.56 BOE…
  18. June 2014 Investor Presentation – Kodiak Oil & Gas Corp. – slide 18
    Adjusted EBITDA Reconciliation Reconciliation of Adjusted EBITDA (non-GAAP) to Net Income (GAAP) 2Q13 3Q13 4Q13 1Q14 Net Income 44,250 31,150 46,572 29,112 Add back: Depreciation, depletion, amortization and accretion 62,409…

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