Investment Highlights Strong, Well Capitalized Balance Sheet Proven Management Team Significant cash balance Operational excellence Common equity Four prior successful public entities Traditional reserve-based credit facility Repeat…
Management & Directors Years of Management Position Directors Affiliation Experience Frank Lodzinski President and CEO 43 Frank Lodzinski Earthstone EVP, Corporate Development Robert Anderson 28 Jay Joliat Outside Director and…
Strategic Combination on December 19, 2014 1.7 mm shares (12.6%) 9.1 mm shares (66.0%) 3.0 mm shares (21.4%) EnCap 37.8% Wells Fargo 6.1% Vlasic 4.9% Earthstone closed two transformational transactions, creating a…
Track Record Management team has consistently created shareholder value Repeated success with multiple entities over 20+ years 2005 2007 Southern Bay Energy, LLC Results have created long-term and recurring shareholders (Private)…
GeoResources Performance Summary Stock Performance (%) Proved Reserve Growth (MMBoe)(1) Merger with Southern Bay to Sale Announcement 40.0 35.9 40.0 CAGR = 57% Initial Investors: 29.2 IRR = 35% 30.0 30.0 Return on Capital = 4.8x…
Go-Forward Strategy Utilize similar strategy to previous entities which delivered significant returns to shareholders Asset Strategy Corporate Strategy Optimize Existing Properties Deliver superior returns to shareholders Implement…
Asset Overview 8
Company Overview Proved Reserves (MMBoe)(1) Proven, growth-oriented management team 30.0 80% Oil-weighted with strong cash margins 71% 2-yr CAGR = 193% 65% Focused on the prolific Eagle Ford and Bakken 25.0 22.2 Robust liquidity…
Reserve Summary 2013 and 2014 SEC Price Deck 2013 2014 Reserves Economics Reserves Economics Oil Gas NGL Total Undisc. CF PV-10 Oil Gas NGL Total Undisc. CF PV-10 Category (MBbls) (MMcf) (MBbls) (MBoe) (mm) (mm) Category (MBbls)…
Southern Region Le Flore County: Conventional and 13,900 net acres; 34 PDP unconventional assets wells in Red Oak Field Eagle Ford / Grayson County: Austin Chalk Oklahoma 1,200 net acres prospective for horizontal Viola play 2 PDP…
Operated Eagle Ford and Austin Chalk 47,900 gross leasehold acres in Gonzales and Fayette Counties 23,900 net leasehold acres Working interests range from 38% to 50% Position developed by management team Pushed Eagle Ford play into…
Operated Eagle Ford and Austin Chalk (Contd) Eagle Ford Brought 21 gross wells online in 2014 17 wells waiting on completion; plan to complete 5 wells per quarter from Q2 thru Q4 2015 500 to 750 foot spacing between wells Offset by…
Eagle Ford Drilling and Completion Trends and Economics Pad Averages Feet Drilled per Day Drilling CAPEX per Foot Drilled 1,200 300 269 1,077 1,086 957 894 250 221 1,000 796 820 199 172 200 186 800 170 159 625 140 600 150 400…
Non-Operated Eagle Ford Non-operated position with BHP and Lewis Energy; 60 gross producing wells 13 gross wells drilled in 2014 and expected to come online in Q1 2015 Two areas totaling 3,100 net acres White Kitchen 15% working…
Northern Region Williston Basin Summary Near-Term Strategy 98 gross / 7 net wells producing Expand acreage Average working interest of 3% Acquire production 54 gross / 1.3 net wells currently being drilled or Establish operating…
Capital Expenditures and Financial Overview 17
2015 Capital Expenditure Budget (All figures in millions) Current Budget(1) D&C Spend by Area Drilling and Completion Operated Eagle Ford 38.0 17% Gonzales/Fayette Counties Non-Operated Bakken 12.0 Operated Eagle Ford 11%…
Financial Information (All figures in thousands except per unit or where otherwise noted) Pro-Forma Pro-Forma Combined Combined 2013 2014 2014(1) 2013 2014 2014(1) Production Summary of Operations Oil (MBbl) 163 403 798 Total…
Contact Information Frank Lodzinski President and CEO Robert Anderson EVP, Corporate Development and Engineering Neil Cohen VP, Finance, and Treasurer Corporate Headquarters Houston 1400 Woodloch Forest Drive Suite 300 The…
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