Some Random Notes From Whiting's 2Q13 Financial Presentation

2Q13 Financial Presentation (some numbers rounded)

Slide 12: Lease expenses/bbl

• 2007: $14.50
• 2008: $13.81
• 2009: $11.71
• 2010: $11.06
• 2011: $12.56
• 2012: $12.57
• 1Q13: $12.71
• 2Q13: $12.14

This is for all of WLL's acreage, not just the Bakken.

Slide 15: Collars

• Q3: $48 - $91
• Oct: $48 - $91
• Nov: $48 - $86
• Dec: $80 - $122 (for a small volume, at this point)
• 1/14: $80 - $122 (for a small volume, at this point)
• 2/14: $80 - $122 (for a small volume, at this point)
• 3/14: $80 - $122 (for a small volume, at this point)

Slide 16: Natural gas contracts for 2014: $5.50/MMBtu

Slide 19: Net cash provided by operations, three months ended June 30 --

• 2012: $282 million
• 2013: $442 million (57% increase)

Slide 12: EBITDA/Realized price (some numbers rounded; percents taken from the slide)

• 2007: $31/$54 (58%)
• 2008: $45/$69 (65%)
• 2009: $26/$45 (57%)
• 2010: $42/$61 (68%)
• 2011: $51/$74 (68%)
• 2012: $46/$70 (66%)
• 1/13: $50/$75 (67%)
• 2/13: $51/$76 (67%)

Maybe a comment on this later. I'm passing my thoughts on to someone else to take a look at before I make a (bigger) fool of myself.