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Citi Global Energy and Utilities Conference – Whiting Petroleum Corp.

Whiting Petroleum Corp. · May 14, 2013 · 26 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. Citi Global Energy and Utilities Conference – Whiting Petroleum Corp. – slide 1
    Whiting Petroleum Corporation Citi Global Energy and Utilities Conference May 14, 2013
  2. Citi Global Energy and Utilities Conference – 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. Citi Global Energy and Utilities Conference – 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. Citi Global Energy and Utilities Conference – 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. Citi Global Energy and Utilities Conference – 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. Citi Global Energy and Utilities Conference – 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. Citi Global Energy and Utilities Conference – 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. Citi Global Energy and Utilities Conference – Whiting Petroleum Corp. – slide 8
    Williston Basin Prospective Location Details Missouri Breaks Upper Three Forks Core data and subsurface mapping indicate sufficient pore volume in the Upper Three Forks to potentially justify 3 wells per spacing unit. Hidden Bench…
  9. Citi Global Energy and Utilities Conference – Whiting Petroleum Corp. – slide 9
    Williston Basin Primary and Prospective Drilling Plan by Area 10
  10. Citi Global Energy and Utilities Conference – Whiting Petroleum Corp. – slide 10
    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…
  11. Citi Global Energy and Utilities Conference – Whiting Petroleum Corp. – slide 11
    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)…
  12. Citi Global Energy and Utilities Conference – Whiting Petroleum Corp. – slide 12
    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…
  13. Citi Global Energy and Utilities Conference – Whiting Petroleum Corp. – slide 13
    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…
  14. Citi Global Energy and Utilities Conference – Whiting Petroleum Corp. – slide 14
    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…
  15. Citi Global Energy and Utilities Conference – Whiting Petroleum Corp. – slide 15
    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…
  16. Citi Global Energy and Utilities Conference – Whiting Petroleum Corp. – slide 16
    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…
  17. Citi Global Energy and Utilities Conference – Whiting Petroleum Corp. – slide 17
    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…
  18. Citi Global Energy and Utilities Conference – Whiting Petroleum Corp. – slide 18
    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.)…
  19. Citi Global Energy and Utilities Conference – Whiting Petroleum Corp. – slide 19
    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…
  20. Citi Global Energy and Utilities Conference – Whiting Petroleum Corp. – slide 20
    Redtail Niobrara Prospect Weld County, Colorado (March 31, 2013) OBJECTIVE Niobrara B Shale Niobrara A Shale ACREAGE Whiting has assembled 120,354 gross (87,610 net) acres in our Redtail prospect in the northeastern portion of…
  21. Citi Global Energy and Utilities Conference – Whiting Petroleum Corp. – slide 21
    Redtail Niobrara Prospect Weld County, Colorado (March 31, 2013) OBJECTIVE Whiting Wells Whiting Lease Area Niobrara B Shale Niobrara A Shale DEVELOPMENT PLAN Mix of 960 and 640-acre spacing units 8 Wells per spacing unit…
  22. Citi Global Energy and Utilities Conference – Whiting Petroleum Corp. – slide 22
    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:…
  23. Citi Global Energy and Utilities Conference – Whiting Petroleum Corp. – slide 23
    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…
  24. Citi Global Energy and Utilities Conference – Whiting Petroleum Corp. – slide 24
    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…
  25. Citi Global Energy and Utilities Conference – Whiting Petroleum Corp. – slide 25
    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%…
  26. Citi Global Energy and Utilities Conference – Whiting Petroleum Corp. – slide 26
    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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