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Title : Whiting Corporate Presentation -- December, 2018
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Whiting Corporate Presentation -- December, 2018

Link here.

December 6, 2018.

Only a few items that might be different from earlier presentations.

33 slides total.

• Strategic vision: 
• • reduce debt and deliver free cash flow at $55 NYMEX oil price
  • maintain a strong hedge position (60 - 70% of oil volumes), 12 - 14months forward
• Results:
• • 3Q18: net cash exceeded CAPEX by $56 million 
  • 3Q18: discretionary cash flow exceeded capital expenditures by $90 million
  • forecast: 129,000 boe/d
  • Williston Basin operated production forecast to grow 13% 4Q year-over-year (2018 over 2017)
  • plan to drill 120 Bakken/Three Forks in the Williston Basin in CY2018
  • plan to put on production (POP) 123 wells in Williston Basin in CY2018
• cash flow, historical, in millions
• • 4Q17:  $96
  • 1Q18: $103
  • 2Q18: $56
  • 3Q18: $90
  • four-quarter total: $355
• Among 12 peers: #1 in generating peer leading cash flow
• • only two peers: positive cash flow
  • ten peers: with negative cash flow
• Williston Basin acreage
• • Whiting is now #1 in acreage across the core Williston Basin
  • Tier 1 areas: 296,063 net acres
  • • East Missouri Breaks
    • Foreman Butte
    • Hidden Bench
    • Polar
    • Sanish/Polar
  • Tier 2 areas: 171,038 net acres
  • • Pronghorn
    • West Missouri Breaks
    • Other (probably Wildrose area)
  • Total net acres: 467,101 net acres in Williston Basin
• 2018 deal
• • Bakken bolt-on
  • 54,833 net acres
  • $130 million
  • new acres overlap Hidden Bench, East Missouri Breaks acreage
  • 1,290 boepd
  • $2,370 / acre
• McNamara Infill Project: Sanish
• • four sections (22/23/26/27)
  • drill/complete six Bakken infill wells
  • parent wells: 9 parent wells completed in 2007 and 2012
  • seven middle Bakken wells; two Three Forks wells
  • sounds like 15 wells across four sections
  • project has produced more than 1.5 million bbls oil
  • projected DSU recovery factor prior to McNamara infill wells: 11%
  • projected DSU recovery factor including McNamara infill: 20%
• Sanish generation 4.0 Bakken completions; graph highlights three DSUs
• • McNamara (220 days production)
  • Sanish Bay (190 days production)
  • Bartelson (60 days production)
• Western Sanish generation 4.0 Bakken wells outpeform  by 83%
• • Bartelson parent: 35K bo at 60 days
  • Bartelson children: 65K bo at 60 days
  • Pinwheel pad -- I think CLR had one of the first of these designs
  • 8 new Bakken wells
  • 6 new Three Forks wells
  • 2 existing wells
  • spud to TD average: 9.3 days
  • 76 daysof fracking, 100 million lbs proppant, 2 million bbls fresh water
  • will come in 8% under budget
• Generation 4.0 Bakken completions (2018)
• • 600 - 1,200 lbs/ft proppant
  • 200' - 300' stage spacing
  • 15 - 40 bbl/ft fluid
  • 30' to 50' cluster spacing
• Generation 3.0 (2016 - 2017)
• Generation 2.0 (2013 - 2015)
• Generation 1.0 (2010 - 2012)

Much, much more at the link.

http://bit.ly/2dZyQXu

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