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James Brown
James Brown
James Brown
James Brown
James Brown
James Brown
James Brown
James Brown
James Brown
James Brown
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James Brown

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  • 1. Whiting Petroleum Corporation
    Drilling operations on the Bartleson 44-30H in Sanish field, Mountrail County, ND. The well was fracture stimulated in 29 stages and completed in the Bakken with an initial flow rate of 2,594 BOE.
    Drilling the Rohde 14-6XH Cross-Unit Well in Sanish Field, Mountrail County, ND
    IP: 3,293 BOE/D
    the State of Energy Summit 2011
    August 17, 2011
    Drilling operations on the Bissett #9701, Whiting’s first horizontal well at its Big Tex prospect in Pecos County, TX. The well was producing 788 BOE per day on July 25, 2011. The well was fraced in 16 stages.
  • 2. 1
    Forward-Looking Statement Disclosure,Non-GAAP Measures
    This presentation includes forward-looking statements that the Company believes to be forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. All statements other than statements of historical fact included in this presentation are forward-looking statements. These forward looking statements are subject to risks, uncertainties, assumptions and other factors, many of which are beyond the control of the Company. Important factors that could cause actual results to differ materially from those expressed or implied by the forward-looking statements include the Company’s business strategy, financial strategy, oil and natural gas prices, production, reserves and resources, impacts from the global recession and tight credit markets, the impacts of state and federal laws, the impacts of hedging on our results of operations, level of success in exploitation, exploration, development and production activities, uncertainty regarding the Company’s future operating results and plans, objectives, expectations and intentions and other factors described in the Company’s Annual Report on Form 10-K for the year ended December 31, 2010 and Form 10-Q for the quarter ended June 30, 2011. In addition, Whiting’s production forecasts and expectations for future periods are dependent upon many assumptions, including estimates of production decline rates from existing wells and the undertaking and outcome of future drilling activity, which may be affected by significant commodity price declines or drilling cost increases.
    1
  • 3. 2
    Company Overview
    Market Capitalization1 $6.9 B
    Long-term Debt2$1,060 MM
    Shares Outstanding117.4 MM
    Debt/Total Cap227.8%
    Proved reserves3304.9 MMBOE
    % Oil83%
    RP ratio412.9 years
    Q2 2011 Production 64.1 MBOE/d
    Drilling the Hutchins Stock Association #1096 in North Ward Estes Field, Whiting’s EOR project in Ward and Winkler County, Texas.
    Assumes a $59.02 share price (closing price as of August 1, 2011) on 117,380,843 common shares outstanding as of June 30, 2011.
    As of June 30, 2011. Please refer to Slide #53 for details.
    Whiting reserves at December 31, 2010 based on independent engineering.
    R/P ratio based on year-end 2010 proved reserves and 2010 production.
    2
    2
  • 4. 3
    Our Formula for Success
    • Long-lived properties
    • 5. Predictable performance
    • 6. High PDP content
    • 7. Multi-zone potential
    • 8. Permian Basin – North Ward Estes field
    • 9. Anadarko Basin – Postle field
    • 10. Williston Basin – Bakken in Sanish and Parshall field areas and Three Forks in Lewis & Clark prospect
    • 11. Piceance Basin - Boies Ranch / Jimmy Gulch areas
    • 12. Uintah Basin – Flat Rock Field
    • 13. New Rockies exploration areas (Bakken and Three Forks in Williston Basin and Niobrara in DJ Basin)
    • 14. Other horizontal oil prospects (Permian Basin)
    Opportunistically Monetize Some PDP Reserves
  • 15. 4
    Map of Operations
    Q2 2011 Net Production
    64.1 MBOE/d
    ROCKY MOUNTAINS
    37.2 MBOE/D
    MICHIGAN
    3.1 MBOE/D
    MID-CONTINENT
    8.5 MBOE/D
    PERMIAN
    12.7 MBOE/D
    GULF COAST
    2.6 MBOE/D
    4
    (1) Based on 12-month average prices of $79.43/Bbl and $4.38/Mcf in accordance with SEC requirements. Our pre-tax PV10 values do not purport to present the fair value of our oil and natural gas reserves.
  • 16. Sanish and Parshall Fields -
    Recent and Notable Wells
    PARSHALL FIELD
    17-mile 6” & 10” Residue
    Gas/NGL Line to WBI-
    Gas sales to Midwest markets
    Began in late August ‘08
    Units in which WLL Owns an Interest
    17-mile 8” Crude Oil Line
    To Enbridge – Initial oil sales
    To Midwest markets began
    In early December ‘09
    As of 04-15-11
    Parshall Field Outline
    127
    Current Producers
    Potential Operated
    Bakken Locations
    Non-Interest Wells
    72,420 Gross Acres
    18,025 Net Acres
    Behr 11-34H (Bakken)
    Compl. 6-20-08
    10-stage frac
    Cum. Prod. @ 3/31/2011:
    680,190 BO
    398,709 Mcf
    NEW WELL
    Ness 42-31 WH
    (Bakken Wing Well)
    IP: 1,529 BOE/d on 3-16-11
    22-stage frac
    Robinson Lake
    Gas Plant
    SANISH FIELD
    As of 04-15-11
    Sanish Field Outline
    229
    Current Producers
    24
    Currently Completing
    NEW WELL
    Smith 14-29XH
    (Cross Unit)
    IP: 2,028 BOE/d on 4-2-11
    40-stage sliding sleeve frac
    10
    Currently Drilling
    Remaining Operated
    Bakken Infill Locations
    7
    Other Potential Operated
    Bakken Locations
    95
    183
    Potential Operated
    Three Forks Locations
    5
    Non-Interest Wells
    Refer to Slide #29 for more details.
    108,269 Gross Acres
    66,253 Net Acres
  • 17. 6
    At Sanish Field Bakken / Three Forks Hydrocarbon System
    Sanish Bay
    42-12H
    IP: 2,638 BOE/D
    Whiting
    Braaflat 11-11H
    IP: 2,997 BOE/D
    EOG
    Van Hook 1-13H
    IP: 1,661 BOE/D
    Hess Corp.
    St. Andes
    151-89-2413H-1
    TA
    23
  • 18. Courtesy of Baker Hughes Inc.
    Horizontal Wellbore Configuration
    ~10,000’
    Vertical
    4 ½” Liner with Swelling Packers &
    Sliding Sleeves
    7” Casing
    300-400’
    Packer Assembly Run to ~ 10,000’ Lateral Distance
  • 19. All Whiting Prospect Areas in Bakken/Three Forks Hydrocarbon System at June 30, 2011(1) (2)
    CASSANDRA
    13,842 Net Acres
    8Wells in 2011
    1 rig active
    Target: M. Bakken
    SANISH
    65,056 Net Acres
    95 Wells in 2011
    9 rigs active
    Target: M. Bakken & 3Fks
    STARBUCK
    87,378 Net Acres
    7 Wells in 2011
    Target: M. Bakken & 3Fks
    TARPON
    6,265 Net Acres
    1Well in 2011
    Target: M. Bakken
    BEXP
    Gobbs 17-8 1H
    1818 boe/d
    Whiting
    Rovelstad 21-13H 2450 boe/d
    MISSOURI BREAKS
    41,332 Net Acres
    1 Well in 2011
    Target: M. Bakken & 3Fks
    BEXP
    Johnson 30-19 1H
    2962 boe/d
    HIDDEN BENCH
    30,905 Net Acres
    26 Wells in 2011
    1 rig active
    Target: M. Bakken
    Whiting
    Arnegard 21-26H 3092 boe/d
    Whiting
    Clemens 34-9TFH
    2108 boe/d
    LEWIS & CLARK
    254,818 Net Acres
    48 Wells in 2011
    6 rigs active
    Target: 3Fks
    BIG ISLAND
    119,784 Net Acres
    3 Wells in 2011
    Target: Red River & Scallion
    Whiting Williston Bakken Plays
    Whiting acreage within the BakkenHydrocarbonSystem totals 680,137 net acres including an additional 60,757 net acres not depicted in the prospects above
    Wells are gross operated and non-operated
    Planned 2011 WLL Operated Wells
    Whiting
    Maus 23-22
    282 boe/d
    (Red River)
    Whiting
    Hecker 21-18TFH
    3611 boe/d
    8
  • 20. The End
    9

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