Whiting Petroleum Corporation ENERGY + TECHNOLOGY = GROWTH A COMPANY ON THE MOVE NYSE: WLL A BIGGER & BETTER TEAM December 2014
Whiting Petroleum A Company on the Move Five Significant Second Half 2014 Achievements 1) Whiting Completes the Acquisition of Kodiak Oil & Gas Corporation Making Whiting the Largest Bakken / Three Forks Producer in the Williston…
A Focused Company Whiting Petroleum Corporation is an independent oil and gas company that explores for, develops, acquires and produces crude oil, natural gas and Williston Basin Bakken / Three Forks natural gas liquids primarily in…
Continued Production and Reserve Growth with OilDriven Focus and Strong Margins Reserves (Mmboe) Production (Mboepd) YE 2014 90% liquids / 83% oil 900 Whiting Whiting 157.2(1) 780 160 800 Kodiak 140 Kodiak 700 119 606 120…
Larger Location Inventory with Significant Opportunity to Accelerate Williston Basin Drilling Program Pro Forma Williston Basin Drilling Locations (Net) 4,000 3,460 3,500 3,000 Potential Williston Basin 2,500 net drilling…
Driving Value from Complementary Acreage Positions Central and Eastern Williston Basin Combined 855,000 net acres in the core of Williston Basin Footprint in the sweetspot of the Central and Eastern Williston Basin is…
Whiting has Captured the Sweet Spot of the Basin Controls Predominance of Acreage in Areas with 30Day Average Rates of 600+ BOPD versus 300+ BOPD Average Across Majority of Basin Peak Month Min. Peak Month Min. 300 BOPD 600 BOPD…
Exploiting the Bakken and Three Forks in the Williston Primary and Prospective Drilling Locations MISSOURI BREAKS CASSANDRA SANISH 8 WELLS 12 WELLS 15 WELLS HIDDEN BENCH PRONGHORN TARPON 16 WELLS 6 WELLS 12 WELLS LEASE LINE…
Maximizing Recovery Efficiency Improving Frac Distribution Older Style Sliding Sleeve Completion Potential Frac Ports Entry Annulus Stages per Stage Points Free fluid between packers 30 1 30 New Style Cemented Liner…
Williston Basin Production Profile Per Well Results: 43% IRR at 70/Bbl NYMEX(1)(2) 1,000 EUR - 600 MBOE, CAPEX 8.0 MM Nymex oil price/Bbl 70 ROI 2.3 Daily Equivalent Production IRR (%) 43% Payout (Yrs.) 1.9 (BOEPD)…
Redtail Development Program Economic Sweet Spot OBJECTIVE Niobrara A Shale (Weld County, Colorado) Niobrara B Shale Niobrara C Shale Niobrara Initial 30Day Average Rate Fort Hays/Codell (Gas converted to oil price equivalent ratio…
Redtail Development Program Niobrara Reservoirs Niobrara Reservoir Niobrara Resource Potential (1) GR Zone Whiting RAZOR 25-2514H PHI Minerals BVFluid RES OOIP by Zone 0 200 30 -10 0 100 0.2 2000 Reservoir Porosity Thickness…
Redtail Development Planning Defining Optimal Well Density 27L Pad 27K Pad Drilling Density Drilling Density - 16 Wells/DSU - 16 Wells/DSU - 330 ft. - 330 ft. Target: B-B-B-B Target: A-B-A-B Status: Flowing Status: Flowing…
Redtail Niobrara Production Profile Per Well Results: 42% IRR at 70/Bbl NYMEX(1)(2) 1000 EUR - 420 MBOE, CAPEX 5.5 MM Nymex oil price/Bbl 70 ROI 2.5 Daily Equivalent Production IRR (%) 42% Payout (Yrs.) 2.0 PV(10) MM…
Redtail Infrastructure Plan: A Great Place to Find an Oil Field September 2014 Trailblazer REX to KC area hub to East OH hub Redtail Facilities Plan Planned Gathering System Gas Gathering Lines 141 Miles Trailblazer/REX Oil…
Whiting Petroleum A Company on the Move Five Significant Second Half 2014 Achievements 1) Whiting Completes the Acquisition of Kodiak Oil & Gas Corporation Making Whiting the Largest Bakken / Three Forks Producer in the Williston…