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Kodiak Oil & Gas Corp | December 2011 Corporate Presentation | Lynn A. Peterson | Page 22 of 11 | November 23, 2024

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Exploring, developing and producing oil and natural gas in the U.S. Rocky Mountains. l www.kodiakog.com l NYSE: KOG Key Investment Highlights Drill-bit focused producer with large acreage position in oil-levered Williston Basin Pro forma ~ 155,000 net acres in Williston Basin largely derisked with Bakken / Three Forks potential Pro forma proved reserves of 52 Mmboe at 10/31/2011 (85% liquids) and pro forma current production of ~14,000 boe /d Expect to complete an additional 9 gross (6.9 net) wells in 4Q2011, which should increase exit production by ~3,000 boe /d Development of low-risk drilling inventory with attractive economics drives rapid producing growth Inventory of over 800 net drilling locations (~1,100 gross) prospective for Bakken and Three Forks Five operated rigs running and sixth to be added as part of Jan 2012 Acq; two non-operated rigs drilling (40-50% WI) Projected 2 operated rigs added in Q2/Q3 2012 bring total to eight operated rigs by late 2012 Asset scale, technical knowledge and infrastructure investments enhance operating results and margins Full-time 24 hour dedicated frac crew scheduled to begin 1Q2012 Infrastructure build-out in progress, with majority of wells to be connected in 2011; allows incremental natural gas / NGL sales Conservative financial philosophy and proactive liquidity management Pro forma liquidity at 9/30/2011 of $400 mm; expected cash flow and liquidity fund 2012E drilling capex Has historically maintained a disciplined financial approach with low leverage and plan to continue this strategy in the futu re 22