Oasis Petroleum -- May, 2019 -- Corporate Presentation

Oasis Petroleum website here.

Inventory

• net acres
• Bakken: 414,000
• Delaware: 23,000

Rigs (2019): Bakken, 2 - 3; Delaware: 2
Production, 1Q19: Bakken, 86,000 boepd; Delaware, 6,000 boepd
Wells:

• since 2010, over 1,000 wells averaging ~ 10,000 feet of lateral length
• rapidly applying Williston learnings in Delaware
• cycle times down by 15 days
• well costs down from $11.5 million to $10.1 million

Free cash flow: expected to deliver free cash flow at $50 WTI

• Williston asset producing free cash flow to fund Delaware and OMP growth

Bakken

• 1,385 top-tier operated locations
• 20+ year inventory life at current rig pace
• top tier prospects
• South Cottonwood
• Wild Basin -- main focus right now
• Indian hills
• Painted Woods
• Red Bank
• Montana
• expanded top-tier with high intensity fracks in step-out areas
• South Cottonwood now added to top-tier inventory
• offset well results (3-month cum bbls of oil per 1,000 feet lateral)
• South Cottonwood
• pre-2016 wells: 2,122
• offset 2016+ wells: 5,146 (up over 100%)
• 2017+ Bakken average: 5,325
• Painted Woods
• pre-2016: 3.028
• OAS recent tests: 6,111 (up over 100%)
• 2017+ Bakken average: 5,325
• Montana
• pre-2016 wells: 2,361
• offset 2016+ wells: 5,048 (up over 100%)
• 2017+ Bakken average: 5,325

Peers:of 16 peers in the middle Bakken, OAS ranks #1 in Williston well productivity (raw data provided by outside source)
Midstream: in the Delaware, midstream development: Panther DevCo
Borrowing: no near-term maturities

• S&P: BB-
• Moody's: B3

Bakken midstream: OMP

• Oasis' MLP
• 2nd largest gas processor in the Williston Basin with the startup of Wild Basin Gas Plant II, December, 2018

Delaware Panther DevCo to OMP

• Panther acreage: at the three-county area -- Loving, Winkler, Ward; just west of the Wink Oil Hub