OASIS PETROLEUM INVESTOR PRESENTATION September 2011 1 www.oasispetroleum.com
Management Years Experience Tommy Nusz Former President International Division, VP Acquisitions and Divestitures, President, Chief Executive VP Strategic Planning and Engineering of Burlington Resources 29 Officer and…
Oasis Highlights Key Highlights Comment Oil Focused, Pure Play Bakken 92% oil weighted Operator Leading leverage to the Bakken Significant Acreage and Drilling Over 303,000 net acres in the Bakken / Three Forks (TFS) trend…
Large, Concentrated Acreage Blocks MONTANA NORTH DAKOTA BURKE DIVIDE WILLIAMS SHERIDAN ROOSEVELT MCKENZIE MOUNTRAIL RICHLAND Key Metrics West Williston East Nesson Sanish Total Williston Proved Reserves (1) 22.9 MMBoe…
MultiYear Potential Drilling Inventory Oasis Potential Gross Drilling Locations (1) Inventory Statistics 2,800 1,081 total net potential locations 2,400 90% operated 2,000 63% average working 1,288 interest in operated 1,600…
Growing Production Profile Drilling Program Average Daily Production Operated highlights for 1H 2011 (Boe/d) Guidance: 14,000 Low/High (1) 8 gross (5.5 net) wells brought on production in 12,500 12,500 1Q 2011 12,000 16 gross…
East Nesson and Sanish Overview Key Statistics East Nesson Sanish NORTH DAKOTA (1) Net Acreage 102,786 8,729 St. Croix Operated Rigs throughout 2011 1 2 in 4Q Non Op 3 BURKE Key Highlights Approximately 82% of the acreage is…
West Williston Overview Key Statistics MONTANA NORTH DAKOTA Net Acreage (1) 191,716 SHERIDAN Operated Rigs throughout 2011 (2) 6 7 in 4Q Red Bank WILLIAMS ROOSEVELT Key Highlights Target Approximately 70% of the acreage is…
West Williston Three Forks Overview 2011 Three Forks Activity MONTANA NORTH DAKOTA 6 to 7 wells planned to be spud in 2011 SHERIDAN Red Bank WILLIAMS ROOSEVELT 2 on production 1 waiting on completion Target 4 5 Initial…
Illustrative Middle Bakken / TFS Type Curves 30% Increase in frac stages leads to 20 to 30% increase in EURs West Williston East Nesson 1,000 1,000 Oil Rate (Bopd) 100 100 20% 20% 30% 30% 10 10 0 12 24 36 48 60 72 84…
Increasing Stages Yields EUR and Production Growth Impact of increasing stages South Cottonwood Cost per stage 120,000 Recovery per stage 12M25M Bbl 510 per Bbl finding cost Tests completed South Cottonwood, North Cottonwood…
Inventory Management Well Costs 8.5 9.2 million for 36 stage completion, primarily Plug & Perf Contracting Services Rigs Running 7 operated rigs Working on 8th and 9th rig for 2H 2011 Pressure Pumping Services Three…
Oasis Well Services (OWS) Rationale One frac spread, initially Inventory management Cost of service Surety, consistency, and continuous improvement of the service Increased confidence in resource potential in Bakken what it takes…
Infrastructure Development West Williston East Nesson SHERIDAN WILLIAMS BURKE ROOSEVELT Red Bank St. Croix Target DIVIDE North Planned infrastructure Missouri Hebron Cottonwood Indian No infrastructure Hills MOUNTRAIL…
Expanding Takeaway Capacity out of Bakken (1) (MBopd) Production TakeAway Capacity 1,800 1,600 1,400 1,200 1,000 800 600 1H 2011 Estimated Takeaway Capacity: 543,000 June 2011 Production: 449,000 400 200 Montana…
2011 Capital Budget (627MM) (1) 2011 E&P Capital Budget (587MM) 2011 Development Capital (527MM) Drilling and completing, completion Lease Acquisition 19 optimization, and carryin/carryout Geology 6 Drilling 73 gross operated…
Strong Liquidity and Management Alignment Strong Balance Sheet & Liquidity Liquidity Position (1) Additional capital from Senior Notes Cash & shortterm investments 424.9MM prefunds 2011 and a portion of 2012 Revolver availability…
Investment Highlights Oil focused, pure play in the Williston Basin Large, concentrated acreage position with identified drilling inventory Substantial upside potential with known catalysts Growing production profile with…
APPENDIX 20 www.oasispetroleum.com
Strategy to Deliver Growth Continued development of our extensive Williston Basin leasehold position 1,303 gross identified drilling locations(1) primarily focused on the Bakken Substantial incremental resource potential through…
Technological Evolution Driving Resource Recovery Evolution of Completion Techniques More operators moving Longer Laterals from 45,000 ft laterals (640 Increasing lateral lengths and number of frac stages. acre spacing…
OasisDrilling Program Average Day vs Depth Depth Drilling % Days Improvement 2008 Avg 33 2009 Avg 33 0.0% 5,000 2010 Avg 29 12.1% 2011 Q1 Avg 27 6.9% 2011 June Avg 25 7.4% Kline Federal 20 20.0% 10,000 15,000…
West Williston Detail Delineated Blocks MONTANA NORTH DAKOTA Red Bank Indian Hills Hebron SHERIDAN Red Bank Net Acreage (000s) (1) 63 23 45 WILLIAMS ROOSEVELT Operated Rigs 3 2 1 2 6 5 Operated Wells Budgeted in 2011 27 19 9…
Expanding Takeaway Capacity out of Bakken (1) (MBopd) Production TakeAway Capacity 1,800 Kinder Morgan: Cochin Hess: Rail Expansion 1,600 Plains: BNPL Expansion Enbridge: Bakken Expansion Project 1,400 TransCanada Pipeline…
Key Metrics by Project Area Metric West Williston East Nesson Sanish Total Williston Net Acreage (1) 191,716 102,786 8,729 303,231 Identified Drilling Locations Gross (1) 859 255 189 1,303 Identified Drilling Locations Net (1)…
Williston Basin Production History (Boepd) West Williston East Nesson 5,000 5,000 4,302 4,386 4,000 4,000 3,366 3,000 3,000 2,327 2,295 2,158 3,589 3,730 1,975 2,000 2,696 2,000 1,544 1,681 1,481 1,078 1,654 1,037…
Williston Inventory PUD NonProved Primary Locations Primary Inventory (1) (2) Gross Net Gross Net Gross Net WI % Operated West Williston 47 32.2 522 333.4 569 365.6 64.3% East Nesson 23 14.9 180 105.5 203 120.4 59.3% Sanish…
Bakken / TFS Drilling Program by Project Area Project Areas West Williston East Nesson Sanish Total Bakken / TFS Wells Gross Net Gross Net Gross Net Gross Net Producing Wells: Producing on or before 12/31/10: Operated 20 17.0…
Risk Management (1) Risk Management Strategy Over the next two years, the Company expects to more aggressively hedge production in order to protect its near term drilling program Critical Prices (/Barrel) Wtd. Avg. Type Remaining…
Key Company Facts / External Support Oasis Petroleum Inc. Exchange / Ticker NYSE / OAS Shares Outstanding 92.4MM Share Price (close on 9/12/11) 24.41 per share Approx. Market Capitalization 2.3 BN External Support…
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