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EnerComs The Oil & Gas Conference – Whiting Petroleum Corp.

Whiting Petroleum Corp. · Aug 11, 2013 · 27 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. EnerComs The Oil & Gas Conference – Whiting Petroleum Corp. – slide 1
    Whiting Petroleum Corporation EnerComs The Oil & Gas Conference 18 August 11 - 15, 2013
  2. EnerComs The Oil & Gas Conference – Whiting Petroleum Corp. – slide 2
    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…
  3. EnerComs The Oil & Gas Conference – Whiting Petroleum Corp. – slide 3
    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 75% 11.9 MBOE/D Gulf Coast Rockies…
  4. EnerComs The Oil & Gas 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. EnerComs The Oil & Gas 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. EnerComs The Oil & Gas Conference – Whiting Petroleum Corp. – slide 6
    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…
  7. EnerComs The Oil & Gas Conference – Whiting Petroleum Corp. – slide 7
    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…
  8. EnerComs The Oil & Gas Conference – Whiting Petroleum Corp. – slide 8
    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;…
  9. EnerComs The Oil & Gas Conference – Whiting Petroleum Corp. – slide 9
    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…
  10. EnerComs The Oil & Gas Conference – Whiting Petroleum Corp. – slide 10
    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…
  11. EnerComs The Oil & Gas Conference – Whiting Petroleum Corp. – slide 11
    Williston Basin Primary and Prospective Drilling Plan by Area 12
  12. EnerComs The Oil & Gas Conference – Whiting Petroleum Corp. – slide 12
    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…
  13. EnerComs The Oil & Gas Conference – Whiting Petroleum Corp. – slide 13
    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)…
  14. EnerComs The Oil & Gas Conference – Whiting Petroleum Corp. – slide 14
    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…
  15. EnerComs The Oil & Gas Conference – Whiting Petroleum Corp. – slide 15
    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…
  16. EnerComs The Oil & Gas Conference – Whiting Petroleum Corp. – slide 16
    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…
  17. EnerComs The Oil & Gas Conference – Whiting Petroleum Corp. – slide 17
    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…
  18. EnerComs The Oil & Gas Conference – Whiting Petroleum Corp. – slide 18
    NDPA Williston Basin Oil Production & Export Capacity (1) BOPD May 2013 Production 877,563 BOPD(2) Williston Basin NDPA Production Case 1 Williston Basin NDPA Production Case 2 (1) Production forecast is for visual…
  19. EnerComs The Oil & Gas Conference – Whiting Petroleum Corp. – slide 19
    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.)…
  20. EnerComs The Oil & Gas Conference – Whiting Petroleum Corp. – slide 20
    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…
  21. EnerComs The Oil & Gas Conference – Whiting Petroleum Corp. – slide 21
    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…
  22. EnerComs The Oil & Gas Conference – Whiting Petroleum Corp. – slide 22
    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…
  23. EnerComs The Oil & Gas Conference – Whiting Petroleum Corp. – slide 23
    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…
  24. EnerComs The Oil & Gas Conference – Whiting Petroleum Corp. – slide 24
    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:…
  25. EnerComs The Oil & Gas Conference – Whiting Petroleum Corp. – slide 25
    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…
  26. EnerComs The Oil & Gas Conference – Whiting Petroleum Corp. – slide 26
    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…
  27. EnerComs The Oil & Gas Conference – Whiting Petroleum Corp. – slide 27
    Whiting Highlights OIL WEIGHTED, LONG-LIVED RESERVES: 80% OIL (1) RESERVE BASE 13 YEAR R/P(1) MULTI-YEAR INVENTORY TO 9,661 GROSS (4,503.2 NET) POTENTIAL DRILLING DRIVE ORGANIC LOCATIONS PRODUCTION GROWTH PROJECT +12% YOY…

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