OASIS PETROLEUM INVESTOR PRESENTATION September 2012 1 www.oasispetroleum.com
Cautionary Statement Regarding Oil and Gas Quantities The SEC requires oil and gas companies, in their filings with the SEC, to disclose proved reserves, which are those quantities of oil and gas, which, by analysis of geoscience and…
Management Years Experience Tommy Nusz President, Chief Executive Former President International Division, VP Acquisitions and Divestitures, VP Officer and Chairman Strategic Planning and Engineering of Burlington Resources 30…
Oasis Highlights 88% oil weighted Oil Focused, Pure Play Williston Basin Operator Leading leverage to the Bakken Over 320,000 net acres in the Bakken / Three Forks (TFS) trend (1) Significant Acreage and Drilling Inventory…
Strong Foundation Drives Continued Growth Execution and Scale Average Daily Production Consolidated acreage position 2011 (MBoe/d) Cored up acreage blocks 30 Secured services to execute on development program 25 22-24 20.5…
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…
Inventory Management Increasing Drilling & Completion Efficiencies Drilling Days Improving Drilling days continue to improve 35 Pad Drilling 29 30 27 35% of wells in 2012 scheduled for pad drilling 25 23 Moving to full pad…
Increasing Activity While Driving Down Costs Operated Completion and Rig Activity Well Cost Trends (MM) 30 11.0 10.5 25 9.8 26 26 10.0 20 22 8.8 20.3 August 9.0 19.9 11 15 17.4 17 8.0 13.5 10 7.0 July 10 5 6.0 0 5.0…
West Williston Overview MONTANA NORTH DAKOTA Key Statistics SHERIDAN WILLIAMS Net Acreage (1) 204,000 Red Bank ROOSEVELT Operated Rigs (2) 6 Target Key Highlights Essentially 100% of the acreage is delineated in the Middle…
East Nesson and Sanish Overview Key Statistics East Nesson Sanish NORTH DAKOTA (1) Net Acreage 108,000 8,000 St. Croix Operated Rigs (2) 4 Non Op BURKE Key Highlights 100% of acreage in East Nesson is delineated in the Middle…
Three Forks (TFS) Overview (1) TFS in Primary Inventory South Cottonwood West Williston East Nesson Spratley produced over 1,300 boepd in first 60 days SHERIDAN WILLIAMS DIVIDE TFS wells look similar (if not better) than nearby…
2012 Infill Program Infill Program Full Infill Pilots in 2012 Foundation for development plan RED BANK Over 35 new gross operated wells included in tests 1 for well patterns and density in 2012 2 Micro-seismic analysis on…
Oasis Well Services (OWS) Timing Annualized Economics for One Frac Spread First frac job in late March 2012 Save 500 -700k/ gross well on up to 50% of operated wells 9 frac jobs completed as of end of June 2012 Incremental EBITDA from…
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…
Gas Marketing & Infrastructure Gas Infrastructure Highlights Gas Marketing Highlights 118 of the 144(1), or 82%, were connected to natural High BTU gas with high liquids content results in gas infrastructure on 6/30/12 premium price…
Oasis Petroleum Marketing (OPM) Banner Oil Gathering System and Cottonwood Extension Oil Infrastructure & Marketing Market with 25 different counterparties North Cottonwood Multiple delivery points to nominate oil: MONTANA NORTH…
Expanding Takeaway Capacity out of Bakken (1) (MBopd) Production Take-Away Capacity 2,100 1,800 1,500 1,200 900 June 2012 production: 724M(2) 600 300 Montana Production North Dakota Production - 1H 2H 1H…
Oil Weighted Production WTI Henry Hub Price Disparity (/bbl to /Mmbtu) (1) Oasis Oil and Gas Production (per Mboe) Price Ratio Mboepd % Oil 120 60x 25.0 100% 95% 96% 90% 100 50x 94% 92% 91% 95.30 20.0 80% 1.9 1.4 80 40x 18.5 70%…
Improving Operating Cost Structure Drives High Cash Margins Operating Cash Costs ( per Boe) (1) Realized Price and Operating Cash Margins per Boe 20.00 100.00 95.48 16.00 80.00 85.46 88.10 83.52 82.36 78.45 9.21 6.86 69.15…
Updated 2012 Capital Budget (1,062MM) Updated 2012 Capital Budget 2012 E&P Capital Budget (1,022MM) Prior Updated Change CapEx (MM) Budget Budget Lease Acquisition - 30 E&P Capital Geology - 6 Development Capital 758 912 154…
Strong Liquidity and Management Alignment Strong Balance Sheet & Liquidity Liquidity Position (1) Proceeds from Senior Notes to pre-fund Cash & short-term investments 631MM capital budget Revolver availability 500MM Growing…
Investment Highlights Oil focused, pure play in the Williston Basin Large, concentrated acreage position with identified drilling inventory Substantial upside potential with known catalysts Increasing operational efficiencies…
APPENDIX 25 www.oasispetroleum.com
Middle Bakken Type Curve and Economics 26 www.oasispetroleum.com
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 Non-Proved Total Primary Inventory Identified Primary Locations 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%…
Bakken / TFS Drilling Program by Project Area(1) Project Areas West Williston East Nesson Sanish Total Bakken / TFS Wells Gross Net Gross Net Gross Net Gross Net Producing on or before 12/31/10: Opera ted 20 17.0 31 25.8 - - 51…
Risk Management(1) Weighted Average Prices (/Bbl) Type Remaining Term Sub-Floor Floor Cap BOPD Total Barrels 2012 Partial Year Swaps 4 Months (Sep-Dec) 94.61 94.61 1,000 122,000 Full Year Two-Way Collar 4 Months (Sep-Dec) 88.61…
Key Company Facts / External Support Oasis Petroleum Inc. Exchange / Ticker NYSE / OAS Shares Outstanding 93.3 MM Share Price (close on 9/04/12) 30.09 per share Approx. Market Capitalization 2.8 BN External Support…
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