Aggressively Drilling the Williston Basin INVESTOR PRESENTATION September 2013 1 www.oasispetroleum.com
Top Pure Play in the Bakken(1) Combined 492,000 net acres 43,000 Boepd of current production Proved reserves of 215.6 MMBoe with PV-10 of 4.9 billion 399 operated drill blocks / over 16 years of inventory(2) Driving operational…
Large, Concentrated Acreage Blocks(1) Project Areas Net Acres (000s) Oasis West Williston West Williston Stand-Alone Acquisition Pro Forma Indian Hills 23 28 51 Red Bank 64 10 74 Painted Woods 8 42 50 Foreman Butte 8 55 63…
Highlights of Transactions Key Highlights Comment Large Operated Large contiguous blocks adjacent / near current operated blocks Blocks Operational control - 91% operated (pro forma) allows control of rig pace, cost and development…
Inventory Growth and Upside Inventory Growth Pro Forma Drilling Locations (1) Increase to current Pro forma combined acreage increasing by 49% Total 43% 42% 40% 40% 3,500 Added 42% more gross operated inventory in the heart of the…
Inventory Growth Downspacing Activity in the Basin Improving Inventory Potential Downspacing Activity Oasis testing up to 7 wells per formation in Bakken and TFS 1 22 DSU spacing tests in 2013 6 DSUs now producing 1 Industry…
Inventory Growth Lower Bench TFS Activity in the Basin Improving Inventory Potential Lower TFS Activity Oasis has two TFS 2 wells currently drilling Additional lower bench tests in coming quarters Oasis has 7 core wells across…
Production and Reserve Growth Continues Average Daily Production (MBoepd)(1) Estimated Net Proved Reserves (MMBoe) 40 33.8 - 250 35.8 215.6 35 200 30 25 22.5 150 169.9 20 143.3 15 100 10.7 10 78.7 81.9 5.2 50 70.0 5 39.8…
Attractive Well Costs and Economics Lowering Well Costs Compelling Well Economics 12 Oasis Bakken EURs vary across our acreage 10.5 position from 450 MBoe to 750 MBoe 10 Well costs tend to correlate with EURs 8.2 8.0 Lower well…
Transitioning into Full Pad Development during 2013 Pad Operations 2013 Plan Overview Reduce costs by 5 to 10% compared to single well 22 separate DSUs across acreage position will be tested for Improve efficiencies infill density…
Oasis Well Services (OWS) Lowering Well Costs Highlights OWS Hydraulic Pumping Unit Exceeded original expectations performance and savings First frac job in late March 2012 Expect to save 500k/ gross well on 40 to 50% of operated…
Scale and Synergy Infrastructure Development Oasis Current Pro Forma Opportunity West Williston East Nesson Crude Oil Gathering - Rea l i zed 2% di fferenti a l over the l a s t 9 - Abi l i ty to a dd exi s ti ng Oa s i s ga theri ng…
Liquidity: Fully Funded Acquisition Strong Balance Sheet and Liquidity Liquidity and Capitalization (MM) Current PF liquidity of 1,127MM, post Liquidity acquisitions Cash and cash equivalents (2) 25 (3) Borrowing Base 1,500…
Investment Highlights Same Foundation with More Scale Oil focused, pure play in the Williston Basin Large, concentrated acreage position with increasing identified drilling inventory Substantial upside potential with known…
APPENDIX 16 www.oasispetroleum.com
Details on Acquisitions Combined Oasis Stand-Alone Acquisitions Pro Forma Pro Forma Increase Net acres - all depths (000s) (1) 331 116 447 35% (1) (3) Net acres - total (000s) 331 161 492 49% Recent production estimate (Boepd)…
Risk Management(1) Weighted Average Prices (/Bbl) Type Remaining Term Sub-Floor Floor Ceiling Swaps BOPD Total Barrels 2013 Swaps Sep - Dec 95.40 8,000 976,000 Swaps Oct - Dec 106.32 2,500 227,500 Two-Way Collars Sep - Dec 86.82…
Middle Bakken Type Curve Average Low End High End Gross Reserves (MBoe) 600 450 750 IP 7 day average (Boepd) 704 536 873 1st 60 days - average (Boepd) 545 415 675 2nd 30 days - average (Boepd) 471 359 584 Cumulative (Mboe) 30 day…
Oasis Petroleum Marketing (OPM) Hiland Oil Gathering System Oil Infrastructure & Marketing Market with 25 different counterparties Multiple delivery points to nominate oil to rail or pipeline to achieve optimal price realizations…
Expanding Takeaway Capacity out of Bakken (1) (MBopd) Production Take-Away Capacity 2,400 2,100 1,800 1,500 1,200 June 2013 production: 901M(2) 900 600 300 Montana Production North Dakota Production - 1H 2H…
Oil Weighted Production WTI Henry Hub Price Disparity (/bbl to /Mmbtu) (1) Oasis Stand-Alone Oil and Gas Production (per Mboe) Price Ratio Mboepd % Oil 120 60x 35.0 100% 92% 91% 95% 96% 93% 90% 30.0 94% 92% 91% 91% 2.6 2.8 100…
Stand-Alone 2013 Capital Plan Improving Capital Efficiency 2013 Plan Highlights (MM) Capital Efficiency (MM) CapEx Budget 2013 Drilling and completion 897 12 Oasis Midstream Services (OMS) 43 10.5 Leasehold 25 10 8.8 8.4…
Key Metrics by Project Area* For Stand-Alone Metric West Williston East Nesson Sanish Total Williston Net Acrea ge 209,555 112,768 8,383 330,706 Es ti ma ted net PDP - MMBoe 48.6 26.2 7.9 82.7 Es ti ma ted net PUD - MMBoe 52.2 35.6…
Williston Inventory (1) For Stand-Alone PUD Non-Proven Total Inventory Gross Net Gross Net Gross Net Bakken TFS Total Bakken TFS Total Bakken TFS Total Bakken TFS Total Bakken TFS Total Bakken TFS Total Operated West Williston 144…
Bakken / TFS Drilling Program by Project Area For Stand-Alone Project Areas West Williston East Nesson Sanish Total Bakken / TFS Wells Gross Net Gross Net Gross Net Gross Net Total Producing wells on 12/31/10: Opera ted 20 17.0 31…
Key Company Facts / External Support Oasis Petroleum Inc. Exchange / Ticker NYSE / OAS Shares Outstanding (as of 8/26/13) 93.5 MM Share Price (close on 9/17/13) 44.13 per share Approximate Equity Market Capitalization 4.1BN…
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