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IPAA OGIS Toronto – Whiting Petroleum Corp.

Whiting Petroleum Corp. · Jun 11, 2013 · 27 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. IPAA OGIS Toronto – Whiting Petroleum Corp. – slide 1
    Whiting Petroleum Corporation Current Corporate Presentation June 2013
  2. IPAA OGIS Toronto – Whiting Petroleum Corp. – slide 2
    Whiting Overview Q1 2013 Production 89.1 MBOE/d Proved Reserves(1) 378.8 MMBOE % Oil 80% R/P ratio(2) 13 years Drilling on the Hidden Bench Prospect in McKenzie County, North Dakota. (1) Whiting reserves at December 31,…
  3. IPAA OGIS Toronto – Whiting Petroleum Corp. – slide 3
    Map of Operations ROCKY MOUNTAINS Q1 2013 Net Production 66.1 MBOE/D 89.1 MBOE/d MICHIGAN 2.6 MBOE/D 9% 3% 1% 13% MID-CONTINENT 7.9 MBOE/D PERMIAN 11.3 MBOE/D 74% Rockies Permian Mid-Con Michigan GULF COAST 1.2…
  4. IPAA OGIS Toronto – Whiting Petroleum Corp. – slide 4
    Platform for Continued Growth 80% Oil / 10% NGL / 10% Natural Gas 378.8 MMBOE Proved Reserves(1) (12/31/2012) 2% 1% 13% 51% 33% Rocky Mountains Permian Basin Mid-Continent Michigan Gulf Coast (1) Whiting reserves at…
  5. IPAA OGIS Toronto – Whiting Petroleum Corp. – slide 5
    Whiting Pre-Tax PV10% Values at December 31, 2012 Using SEC NYMEX of 94.71/Bbl and 2.76/Mcf Held Flat 3P Reserves (1) Natural Pre-Tax PV10% Oil NGLs Gas Total % Value (MMBbl) (MMBbl) (Bcf) (MMBOE) Oil (In MM) % Total Proved…
  6. IPAA OGIS Toronto – Whiting Petroleum Corp. – slide 6
    Capital Budget for Key Development Areas in 2013 ( in millions) Well Work, Facilities Misc. Costs, 178 MM Other Northern 150 MM Rockies 1,142 MM Exploration EST. 2013 Expense (2) CAPEX IN Gross Net 82 MM MM % Wells Wells Land…
  7. IPAA OGIS Toronto – Whiting Petroleum Corp. – slide 7
    Drilling Inventory Identified Primary Locations Northern Rockies Gross Net Wells per Spacing Unit Southern Williston (Lewis & Clark; Pronghorn) 1,104 410.2 3 Pronghorn Sand / 1280 Western Williston(1) (Cassandra; Hidden Bench;…
  8. IPAA OGIS Toronto – Whiting Petroleum Corp. – slide 8
    Williston Basin (Bakken and Three Forks) Sanish Hydrocarbon System Stratigraphy A Zone 6.3% to 7.9% So = 75% OOIP (MMBOE /1280 ac) = 6 B Zone A 4.4% to 6.1% K = .001 to .1 md So = 80% B OOIP (MMBOE /1280 ac) = 7 C C…
  9. IPAA OGIS Toronto – Whiting Petroleum Corp. – slide 9
    Sanish Field Infill Resource Estimate OOIP by Zone Middle Bakken MMBOE/1280* A Zone 6 B Zone 7 C Zone 6 D Zone 11** Total Middle Bakken 30 Total Bakken Shale*** 19 Three Forks 9 Grand Total 58 Middle Bakken Recoverable Oil…
  10. IPAA OGIS Toronto – Whiting Petroleum Corp. – slide 10
    Williston Basin Primary and Prospective Drilling Plan by Area 11
  11. IPAA OGIS Toronto – Whiting Petroleum Corp. – slide 11
    Whiting Lease Areas in Williston Basin Gross Net Field Target Acres Acres Middle Bakken / Sanish / Parshall Three Forks 174,466 82,400 Sanish Pronghorn Pronghorn Sand 196,822 128,080 CASSANDRA STARBUCK Lewis & Clark Three…
  12. IPAA OGIS Toronto – Whiting Petroleum Corp. – slide 12
    Southern Williston Basin Lewis & Clark and Pronghorn (March 31, 2013) Planned Higher Density Pilot Locations OBJECTIVE Pronghorn Sand 3 wells per 1,280-acre spacing unit ACREAGE Whiting has assembled 396,482 gross (262,194 net)…
  13. IPAA OGIS Toronto – Whiting Petroleum Corp. – slide 13
    Western Williston Basin Cassandra, Hidden Bench, Tarpon, and Missouri Breaks (March 31, 2013) Planned Higher Density Pilot Locations OBJECTIVE(1) Bakken 4 wells per 1,280-acre spacing unit Three Forks 3 wells per 1,280-acre…
  14. IPAA OGIS Toronto – Whiting Petroleum Corp. – slide 14
    Sanish Area Sanish and Parshall Fields (March 31, 2013) Planned Higher Density Pilot Locations OBJECTIVE Bakken 3.5 wells per 1,280-acre spacing unit Three Forks 3 wells per 1,280-acre spacing unit ACREAGE Whiting has assembled…
  15. IPAA OGIS Toronto – Whiting Petroleum Corp. – slide 15
    Red River Plays Sheridan, Roosevelt, Golden Valley and Wibaux Counties OBJECTIVE Vertical Red River BIG ISLAND Whiting has assembled 176,900 gross (125,530 net) acres in our Big Island development project: 11 of 12 successful…
  16. IPAA OGIS Toronto – Whiting Petroleum Corp. – slide 16
    Williston Basin Production Profile Range of Reserves: Bakken / Pronghorn Sand / Three Forks (1)(2) EUR - 600 MBOE , Development Phase CAPEX 7.5 MM 1,000 Nymex oil price/Bbl 80 90 100 ROI 3.0 3.5 4.0 IRR (%) 93% 135% 189% Payout…
  17. IPAA OGIS Toronto – Whiting Petroleum Corp. – slide 17
    Productivity Increase with Shift to New Development Areas 2012 Average 30, 60, 90 Day Rates (BOPD) Sanish Bakken and Three Forks vs. Pronghorn, Lewis & Clark and Hidden Bench 700 655 600 555 524 500 472 419 428 400 300…
  18. IPAA OGIS Toronto – Whiting Petroleum Corp. – slide 18
    NDPA Williston Basin Oil Production & Export Capacity (1) BOPD Feb 2013 Production 837,906 BOPD(2) Williston Basin NDPA Production Case 1 Williston Basin NDPA Production Case 2 (1) Production forecast is for visual…
  19. IPAA OGIS Toronto – Whiting Petroleum Corp. – slide 19
    Plants / Pipeline Williston Basin Natural Gas Processing Plants (Robinson Lake) Gathering System Oil Gathering Lines 121 Miles Gas Gathering Lines 363 Miles Current Wells Connected (Op.) 313 SANISH Current Wells Connected (Non-Op.)…
  20. IPAA OGIS Toronto – Whiting Petroleum Corp. – slide 20
    Plants / Pipeline Williston Basin Natural Gas Processing Plants (Belfield) Planned Gathering System Oil Gathering Lines 143 Miles Gas Gathering Lines 137 Miles Current Wells Connected (12/31/12 Op.) 80 Current Wells Connected…
  21. IPAA OGIS Toronto – Whiting Petroleum Corp. – slide 21
    Redtail Resource Potential Niobrara A&B Reservoirs Niobrara Reservoir Niobrara Resource Potential Whiting RAZOR 25-2514H GR Zone PHI Mineralogy BVFluid RES 0 10 200 30 -10 0 0.2 2000 OOIP by Zone Reservoir Porosity Thickness OOIP…
  22. IPAA OGIS Toronto – Whiting Petroleum Corp. – slide 22
    Redtail Niobrara Prospect Weld County, Colorado (March 31, 2013) OBJECTIVE Niobrara B Shale Niobrara A Shale Whiting Wells Whiting Lease Area DEVELOPMENT PLAN Mix of 960 and 640-acre spacing units 8 Wells per spacing unit Niobrara…
  23. IPAA OGIS Toronto – Whiting Petroleum Corp. – slide 23
    Big Tex Prospect Pecos, Reeves, and Ward Counties, Texas (March 31, 2013) OBJECTIVE Vertical Wolfbone Hz. Wolfcamp ACREAGE Whiting has assembled 93,207 gross (69,163 net) acres in our Big Tex prospect in the Delaware Basin:…
  24. IPAA OGIS Toronto – Whiting Petroleum Corp. – slide 24
    EOR Projects Postle and North Ward Estes Fields Postle Total % Postle Whiting N. Ward Estes Whiting N. Ward Estes 12/31/12 Proved Reserves(1) Oil MMBbl 180.1 121.2 301.3 40% NGL - MMNgl 19.3 20.8 40.1 52% Gas Bcf 199.1 25.2 224.3…
  25. IPAA OGIS Toronto – Whiting Petroleum Corp. – slide 25
    EOR Project North Ward Estes Field Development Plan Project Timing and Net Reserves(1) Injection Other CO2 Project Start Date PVPD Proved P2 P3 Total Base: Primary, WF & CO2 42 16 4 66 128 Phase 1 2007 - 2014 0 1 1 1 3 Phase 2…
  26. IPAA OGIS Toronto – Whiting Petroleum Corp. – slide 26
    Consistently Good Margins Consistently Delivering Strong EBITDA Margins (1) Oil 88.11/Bbl NGL 42.56/BOE Gas 3.80/Mcf 74.77/BOE 80.00 69.06 73.88 69.85 70.00 61.48 Whiting Realized Prices(1) 53.57 60.00 45.01 49.98/67%…
  27. IPAA OGIS Toronto – Whiting Petroleum Corp. – slide 27
    Whiting Highlights OIL WEIGHTED, LONG- RESERVES: 80% OIL (1) LIVED RESERVE BASE 13 YEAR R/P(1) MULTI-YEAR INVENTORY 9,661 GROSS (4,503.2 NET) POTENTIAL DRILLING LOCATIONS TO DRIVE ORGANIC PROJECT +12% TO +16% YOY PRODUCTION…

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