Economics : Rates of Return/ IRR

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Corporate Highlights 67,900 core STACK Acres(1) in Kingfisher and Garfield Counties, Oklahoma Quality Asset Highly contiguous position is 84%(2) operated and 68% held by production Robust Drilling 3,438 gross and 1,548 net drilling locations(1) Inventory Highly attractive IRRs: Meramec and Osage IRR of 50% and 45%, respectively(3) Significant Operational 34% improvement in drilling times from 1H17 to date Enhanced completion design resulting in initial well performance at or exceeding type curve Improvements Implementing cost reduction initiatives to further improve well level IRRs and NAV Significant oil within reservoir system, net unrisked resource potential of 277(3) MMBbls Oil Weighted Reserves among Meramec, Osage, Oswego and Hunton formations Excluding WEHLU, current proved reserves have grown 184%(4) over YE 2016 No Near Term Debt Post refinancing in March 2017, no debt maturities before 2022 Maturity With WEHLU sale proceeds, ample liquidity to execute current drilling plan Liquidity Operational control provides ability to manage timing and level of expenditures Significant hedges to mitigate downside pricing environment Strong Hedge Position 100%+ of oil and 94% of gas PDP volumes hedged for 2018 (1) Acreage and well counts developed by the Company based on assumptions and methodology described on page 3 of this presentation as of 4/2/18. (2) Calculated using prospective net acres as of 4/2/18 and based on assumptions generated by the Company. (3) EURs, related type curves and drilling locations are developed by the Company based on assumptions and methodologies described on page 3 of this presentation. (4) Based on 12/31/17 Wright and Company, Inc. reserve report utilizing SEC pricing. 6 2018 Gastar Exploration Inc.
Gastar Exploration Inc
May 2018

2018 Activity Economic Focus Plan to focus Utica Shale activity in the dry gas windows and SCOOP activity in the wet gas window of the play Allocation of capital split between two top-tier basins with dry gas and liquids inventory SCOOP Single Well Economics(1,2) Utica Single Well Economics(1,2) 100% 100% 91% 80% Current 79% 80% 74% Drilling Plan 73% 73% 71% 64% Current 68% 60% 57% 60% Drilling Plan 57% 55% IRRs % 51% 53% 48% 52% 43% 42% 40% 39% 40% 40% 37% 37% 31% 35% 31% 29% 28% 24% 28% 26% 27% 24% 21% 20% 20% 18% 22% 20% 20% 19% 12% 17% 12% 11% 10% 0% 0% Gas 2.50 / Oil 45.00 Gas 2.75 / Oil 50.00 Gas 3.00 / Oil 55.00 Gas 3.25 / Oil 60.00 Gas 2.50 / Oil 45.00 Gas 2.75 / Oil 50.00 Gas 3.00 / Oil 55.00 Gas 3.25 / Oil 60.00 Woodford Dry Gas Woodford Wet Gas Woodford Condensate Condensate West Condensate East Wet Gas Springer Gas / Condensate Springer Oil Dry Gas West Dry Gas Central Dry Gas East Woodford Woodford Woodford Springer Gas Springer Condensate Condensate Wet Dry Gas Dry Gas Dry Gas Dry Gas Wet Gas Condensate Condensate Oil West East Gas West Central East Gross Undeveloped Locations 444 642 350 238 300 Gross Undeveloped Locations(3) 129 73 114 181 441 259 Net Undeveloped Locations 84 230 30 82 64 Net Undeveloped Locations 97 54 86 135 331 194 1. Assumes ethane rejection. 2. Well economics are adjusted for transport fees and regional price differentials. 3. Assumes net undeveloped locations grossed up from 75% working interest. WWW.GULFPORTENERGY.COM 8
Gulfport Energy Corp.
May 2018

2018 Drilling Program (1) Top-Tier Rates of Return by Play Bakken Type Curve STACK Over-Pressured Oil 200% Target EUR: 1,100 MBOE 200% Target EUR: 1,200 MBOE Avg. Lateral: 9,800 Avg. Lateral: 9,800 175% 175% 150% 150% 125% 125% ROR ROR 100% 100% 75% 75% 50% 140% ROR 50% 104% ROR 25% 22.75/1.05 Breakeven PV0 25% 23.11/1.07 PV0 Breakeven 7.9MM Budget 2018 9.5MM Budget 2018 28.60/1.32 Breakeven PV10 28.67/1.86 PV10 Breakeven 0% 0% 50 60 70 80 50 60 70 80 WTI Oil Price, /BBL WTI Oil Price, /BBL SCOOP Woodford Oil Springer Oil 200% Target EUR: 1,500 MBOE 200% Target EUR: 1,200 MBOE Avg. Lateral: 9,800 Avg. Lateral: 7,500 175% 175% 150% 150% 125% 125% ROR ROR 100% 100% 75% 75% 50% 50% 183% ROR 70% ROR 21.30/0.98 PV0 Breakeven 25% 20.30/0.94 PV0 Breakeven 25% 9.5MM Budget 2018 11.7MM Budget 2018 24.38/1.58 PV10 Breakeven 28.44/1.85 PV10 Breakeven 0% 0% 50 60 70 80 50 60 70 80 WTI Oil Price, /BBL WTI Oil Price, /BBL 1. Pre-tax rate of return (ROR) is based on projected cash flow and time value of money; costs include completed well cost, production expense, severance tax and variable operating costs. 3.00 Henry Hub is used for oil price sensitivities and 65 WTI is used for gas price sensitivities. The description of the ROR calculation applies to any ROR reference appearing in this presentation. CONFIDENTIAL INTERNAL USE ONLY DO NOT DISTRIBUTE 26
Continental Resources, Inc.
May 2018

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