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Barclays CEO Energy Conference – Whiting Petroleum Corp.

Whiting Petroleum Corp. · Sep 11, 2013 · 33 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. Barclays CEO Energy Conference – Whiting Petroleum Corp. – slide 1
    Whiting Petroleum Corporation Barclays CEO Energy Conference - September 11, 2013
  2. Barclays CEO Energy Conference – Whiting Petroleum Corp. – slide 2
    Whiting Petroleum A Company on the Move Pending 260 Million Acquisition of 39,310 gross (17,282 net) Acres and 2,420 BOEPD in the Williston Basin Prospective for Middle Bakken/Three Forks Development Sale of Postle/N.E. Hardesty…
  3. Barclays CEO Energy Conference – Whiting Petroleum Corp. – slide 3
    Why Whiting Focuses on Oil NYMEX Crude Oil and Natural Gas Prices 2005-2012(1) 120 10 9 100 8 7 80 6 /BTU /Bbl 60 5 4 40 3 2 20 1 0 0 2005 2006 2007 2008 2009 2010 2011 2012 NYMEX Crude Oil…
  4. Barclays CEO Energy Conference – Whiting Petroleum Corp. – slide 4
    World Oil Consumption Up 5.5 MMBOPD Since 2005 World Production Ex-US/Canada Only Up 1.4 MMBOPD World Oil Consumption (MBOPD) 2005-2012(1) 91,000 90,000 89,000 88,000 87,000 MBOPD 86,000 85,000 84,000 83,000 82,000…
  5. Barclays CEO Energy Conference – Whiting Petroleum Corp. – slide 5
    US Production Helps Bridge the Gap Up 2.0 MMBOPD North Dakota Production Growth A Major Driver US Production (MBOPD) 2005-2012(1) 10,000 9,000 8,000 7,000 6,000 MBOPD 5,000 4,000 3,000 2,000 1,000 0 2005 2006 2007 2008…
  6. Barclays CEO Energy Conference – Whiting Petroleum Corp. – slide 6
    Exports of Crude/Petroleum Products Up 2.0 MMBOEPD Imports Down 3.1 MMBOEPD U.S. Exports of Crude Oil and Petroleum Products (MBOEPD) 2005-2012 (1) 3,500 3,000 2,500 MBOEPD 2,000 1,500 1,000 500 0 2005 2006 2007 2008 2009…
  7. Barclays CEO Energy Conference – Whiting Petroleum Corp. – slide 7
    Major Economic Benefits to US Trade Deficit Decreases by 173 Billion 2005-2012 US Trade Deficit ( Billions) 2005-2012(1) 800 700 600 500 Billions 400 2008-2009 Recession 300 200 100 0 2005 2006 2007…
  8. Barclays CEO Energy Conference – Whiting Petroleum Corp. – slide 8
    Whiting Overview Q2 2013 Production(1) 93.4 MBOE/d +16% YoY +4.8% QoQ Proved Reserves(2) 378.8 MMBOE % Oil(2) 80% R/P ratio(3) 13 years Drilling on the Hidden Bench Prospect in McKenzie County, North Dakota. (1) The…
  9. Barclays CEO Energy Conference – Whiting Petroleum Corp. – slide 9
    Map of Operations Q2 2013 Net Production Michigan 93.4 MBOE/d (1) 2.2 MBOE/D ROCKY MOUNTAINS 69.9 MBOE/D 12% 13% HEADQUARTERS Denver, Colorado Mid-Con(1) 7.8 MBOE/D PERMIAN 11.9 MBOE/D 75% Gulf Coast Rockies…
  10. Barclays CEO Energy Conference – Whiting Petroleum Corp. – slide 10
    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…
  11. Barclays CEO Energy Conference – Whiting Petroleum Corp. – slide 11
    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…
  12. Barclays CEO Energy Conference – Whiting Petroleum Corp. – slide 12
    Postle Sale: 860 MM A Transforming Transaction 850 million net to Whiting Whiting operates until Oct. 31, 2013 This transforming transaction allows us to deploy more capital to our development areas in the Northern Rockies, Central…
  13. Barclays CEO Energy Conference – Whiting Petroleum Corp. – slide 13
    Capital Budget for Key Development Areas in 2013 ( in millions) Exploration Facilities (3) Well Work, Misc. Expense (2) 145 MM Costs, Other 85 MM 150 MM Northern Rockies 2013 1,303 MM CAPEX Gross Net % of Land (MM) Wells…
  14. Barclays CEO Energy Conference – Whiting Petroleum Corp. – slide 14
    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;…
  15. Barclays CEO Energy Conference – Whiting Petroleum Corp. – slide 15
    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…
  16. Barclays CEO Energy Conference – Whiting Petroleum Corp. – slide 16
    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…
  17. Barclays CEO Energy Conference – Whiting Petroleum Corp. – slide 17
    Williston Basin Primary and Prospective Drilling Plan by Area 18
  18. Barclays CEO Energy Conference – Whiting Petroleum Corp. – slide 18
    Whiting Lease Areas in Williston Basin Gross Net Field Target Acres Acres Middle Bakken / Sanish / Parshall Three Forks 175,066 82,406 Sanish Pronghorn Pronghorn Sand 196,515 128,596 CASSANDRA STARBUCK Lewis & Clark Three…
  19. Barclays CEO Energy Conference – Whiting Petroleum Corp. – slide 19
    Southern Williston Basin Lewis & Clark and Pronghorn (June 30, 2013) Planned Higher Density Pilot Locations OBJECTIVE Pronghorn Sand 3 wells per 1,280-acre spacing unit ACREAGE Whiting has assembled 395,441 gross (262,630 net)…
  20. Barclays CEO Energy Conference – Whiting Petroleum Corp. – slide 20
    Western Williston Basin Cassandra, Hidden Bench, Tarpon, and Missouri Breaks (June 30, 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 spacing…
  21. Barclays CEO Energy Conference – Whiting Petroleum Corp. – slide 21
    Sanish Area Sanish and Parshall Fields (June 30, 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…
  22. Barclays CEO Energy Conference – Whiting Petroleum Corp. – slide 22
    Red River Plays Sheridan, Roosevelt, Golden Valley and Wibaux Counties OBJECTIVE Vertical Red River BIG ISLAND Whiting has assembled 175,664 gross (126,795 net) acres in our Big Island development project: Have identified over 50…
  23. Barclays CEO Energy Conference – Whiting Petroleum Corp. – slide 23
    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…
  24. Barclays CEO Energy Conference – Whiting Petroleum Corp. – slide 24
    NDPA Williston Basin Oil Production & Export Capacity (1) BOPD May 2013 Production 877,563 BOPD(2) (1) Production forecast is for visual demonstration purposes only and should not be considered accurate for any near or long…
  25. Barclays CEO Energy Conference – Whiting Petroleum Corp. – slide 25
    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.)…
  26. Barclays CEO Energy Conference – Whiting Petroleum Corp. – slide 26
    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…
  27. Barclays CEO Energy Conference – Whiting Petroleum Corp. – slide 27
    Redtail Niobrara Prospect: Another Transformative Multi Year Project Weld County, Colorado (June 30, 2013) OBJECTIVE Niobrara B Shale Niobrara A Shale DEVELOPMENT PLAN Mix of 960 and 640-acre spacing units 8 Wells per spacing unit…
  28. Barclays CEO Energy Conference – Whiting Petroleum Corp. – slide 28
    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…
  29. Barclays CEO Energy Conference – Whiting Petroleum Corp. – slide 29
    Redtail Niobrara Prospect Improved Completion Technology Results in Improved Performance Cum BOE* 60,000 50,000 40,000 30,000 20,000 400 MBOE Type Curve Cum vs Time 10,000 7 Recent Well Average Cum vs Time 0 0 30 60 90…
  30. Barclays CEO Energy Conference – Whiting Petroleum Corp. – slide 30
    Big Tex Prospect Pecos, Reeves, and Ward Counties, Texas (June 30, 2013) OBJECTIVE Vertical Wolfbone Hz. Wolfcamp ACREAGE Whiting has assembled 93,207 gross (69,221 net) acres in our Big Tex prospect in the Delaware Basin:…
  31. Barclays CEO Energy Conference – Whiting Petroleum Corp. – slide 31
    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…
  32. Barclays CEO Energy Conference – Whiting Petroleum Corp. – slide 32
    Consistently Good Margins Consistently Delivering Strong EBITDA Margins (1) Oil 89.15/Bbl NGL 37.80/BOE Gas 4.27/Mcf 73.88 74.77 75.88/BOE 80.00 69.06 69.85 70.00 61.48 Whiting Realized Prices(1) 60.00 53.57 45.01…
  33. Barclays CEO Energy Conference – Whiting Petroleum Corp. – slide 33
    Whiting Petroleum A Company on the Move Pending 260 Million Acquisition of 39,310 gross (17,282 net) Acres and 2,420 BOEPD in the Williston Basin Prospective for Middle Bakken/Three Forks Development Sale of Postle/N.E. Hardesty…

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