OASIS PETROLEUM INVESTOR PRESENTATION February 23, 2012 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 30 Officer and…
Oasis Highlights Key Highlights Comment Oil Focused, Pure Play Bakken 88% oil weighted Operator Leading leverage to the Bakken Significant Acreage and Drilling Over 307,000 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) 51.6 MMBoe…
MultiYear Potential Drilling Inventory (1) Oasis Remaining Potential Gross Drilling Locations Inventory Statistics 2,400 1,043 total net potential locations 2,000 90% operated 1,217 70% average working interest in 1,600…
Growing Production Profile Bakken / TFS Drilling Program Average Daily Production Operated highlights through 4Q 2011 (MBoe/d) 46 gross (35.6 net) wells brought on production in 1st 3 Quarters of 2011 25.0 22.0 17 gross (13.5…
East Nesson and Sanish Overview Key Statistics East Nesson Sanish NORTH DAKOTA (1) Net Acreage 97,756 8,409 St. Croix Operated Rigs (2) 2 Non Op 1 BURKE Key Highlights Approximately 86% of the acreage is delineated Proven TFS…
West Williston Overview MONTANA NORTH DAKOTA Key Statistics SHERIDAN WILLIAMS Net Acreage (1) 201,265 Red Bank ROOSEVELT Operated Rigs (2) 7 Target Key Highlights Approximately 70% of the acreage is delineated Hebron wells in MT…
West Williston Three Forks Overview (1) Three Forks Activity MONTANA NORTH DAKOTA SHERIDAN WILLIAMS 10 to 15 wells planned to be spud in 2012 Red Bank ROOSEVELT 4 wells on production Target 7 Initial Findings 5 Early days 6…
2012 Infill Program Infill Program Building foundation for development plan Over 35 new gross operated wells included in tests for Test Sites well patterns and density Deploying buried microseismic array in northern Indian Hills…
Inventory Management Well costs for plug & perf, 36 stage completion 10MM for ceramic/sand mix 9.2MM for all sand Contracting services Rigs Running 9 operated rigs 3 additional rigs contracted and not yet delivered Pressure…
Oasis Well Services (OWS) Timing Annualized Economics for One Frac Spread Early operations beginning in late 1Q 2012 Save 0.8MM to 1MM/well on 20 net wells/year Moving to full time operations during 2Q 2012 Incremental EBITDA from…
Oasis Petroleum Marketing (OPM) Banner Oil Gathering System in West Williston Oil Infrastructure & Marketing MONTANA NORTH DAKOTA Market with over 15 different counterparties Provides multiple delivery points to nominate oil:…
Gas Infrastructure West Williston East Nesson Gas Infrastructure Highlights SHERIDAN WILLIAMS BURKE ROOSEVELT Hiland, Bear Tracker, Bear Paw and Whiting Red Bank 128 wells currently connected Target DIVIDE 46 additional wells…
Salt Water Disposal (SWD) Update West Williston East Nesson Salt Water Disposal (SWD) SHERIDAN WILLIAMS BURKE Focus Area Red Bank, Indian Hills, Hebron, North Cottonwood, and South Cottonwood ROOSEVELT Red Bank Target Capital…
Expanding Takeaway Capacity out of Bakken (1) (MBopd) Production TakeAway Capacity 1,800 NearTerm Differentials Early February 2012 indications for differentials for 1,600 Bakken crude ranging from WTI minus 10 to 20/bbl Mild…
2012 Capital Budget (884MM) 2012 E&P Capital Budget (846MM) 2012 Development Capital (758MM) Drilling and completing, completion Lease Acquisition 25 optimization, and carryin/carryout Geology 6 Drilling 108 gross operated wells…
Strong Liquidity and Management Alignment Strong Balance Sheet & Liquidity Liquidity Position (1) Capital from Senior Notes prefunds 2012 and Cash & shortterm investments 491MM a portion of 2013 development program Revolver…
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…
Key Metrics by Project Area Delineated Blocks Extensional Areas West Williston East Nesson West Williston East Nesson North South Mondak/ Red Bank Indian Hills Hebron Target Missouri St. Croix Cottonwood Cottonwood Other Net…
Williston Inventory (1) PUD NonProved Total Primary Inventory Primary Inventory Gross Net Gross Net Gross Net WI % Operated Williston West 78 56.5 442 305.6 520 362.2 69.6% East Nesson 42 27.2 188 125.1 230 152.2 66.2% Sanish 0 0.0…
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 (1) Producing Wells Producing on or before 12/31/10: Operated 20…