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APRIL 2011 IPAA OGIS – Gulfport Energy Corp.

Gulfport Energy Corp. · Apr 11, 2011 · 39 slides

Investor presentation from the Shale Experts oil & gas presentation and slide database. Every page is imaged and its text indexed for search across operators, plays, basins and time.

Slides

  1. APRIL 2011 IPAA OGIS – Gulfport Energy Corp. – slide 1
    Gulfport Energy Corporation IPAA Oil & Gas Investment Symposium April 11, 2011
  2. APRIL 2011 IPAA OGIS – Gulfport Energy Corp. – slide 2
    Gulfport Today Company Overview Primary Areas of Operation Canadian Oil Sands Acreage: 133,407 Net Acres 2P Reserves: 24.5 MMbo Ticker: Recoverable Resource: 513 MMbo Utica Shale Pending Acquisition Market Cap(1): 1.6 Billion…
  3. APRIL 2011 IPAA OGIS – Gulfport Energy Corp. – slide 3
    Key Investment Highlights Oil-focused producer with multiple production growth catalysts enables continued NAV accretion 2010 production 90% crude oil (before NGLs); proved reserves 88% crude oil at 2010YE Permian, oil sands, Niobrara…
  4. APRIL 2011 IPAA OGIS – Gulfport Energy Corp. – slide 4
    2011 Guidance Gulfport currently expects to spend 127 to 133 million of capital during 2011 (excluding proposed Utica Shale acquisition), which is to be entirely funded from within internally generated cash flow Year Ending…
  5. APRIL 2011 IPAA OGIS – Gulfport Energy Corp. – slide 5
    Large Captured Oil Resource Base Large exploitable oil-rich resource base of 613 Net MMBOE + significant upside 513 (1,2) Additional Upside MMBOE Contingent resource assigned to 34% of Grizzlys acreage; 66% yet to be evaluated…
  6. APRIL 2011 IPAA OGIS – Gulfport Energy Corp. – slide 6
    Unique Oil Sands Position Gulfport has an interest in the oil sands 100 kilometers 62 miles Asphalt Creek which is unique for a mid-cap independent Grizzly Oil Sands ULC holds leases covering McClelland Lake 533 632 acres in…
  7. APRIL 2011 IPAA OGIS – Gulfport Energy Corp. – slide 7
    Oil Sands Reserves & Resources Grizzly(1) Interest Proved + Best Estimate Best Estimate Discovered Undiscovered Recoverable Probable (2P) (P50) Contingent (P50) Prospective Bitumen Initially Bitumen Initially (Millions of Barrels)…
  8. APRIL 2011 IPAA OGIS – Gulfport Energy Corp. – slide 8
    Firebag River Before 2010/2011 Winter Drilling Program New Imperial Oil Resources Firebag UTS SilverBirch Area Energy 40-50 New GLJ did not evaluate Firebag 30 Delineation Coreholes Planned for 5 Kilometers River pending results of…
  9. APRIL 2011 IPAA OGIS – Gulfport Energy Corp. – slide 9
    Firebag River After 2010/2011 Winter Drilling Program 5 Kilometers 3.1 Miles Grizzly drilled 14 cores holes at Firebag River during the 2010-2011 winter drilling season 10
  10. APRIL 2011 IPAA OGIS – Gulfport Energy Corp. – slide 10
    Thickwood Hills Before 2010/2011 Winter Drilling Program GLJ did not evaluate Thickwood Hills pending results of the 2010-2011 winter drilling season (7% of Grizzlys acreage) Marathon Birchwood 35 N 35+ New C Coreholes h l…
  11. APRIL 2011 IPAA OGIS – Gulfport Energy Corp. – slide 11
    Thickwood Hills After 2010/2011 Winter Drilling Program Grizzly drilled a total of 32 core holes at Thickwood Hills during the 2010-2011 winter drilling season 12
  12. APRIL 2011 IPAA OGIS – Gulfport Energy Corp. – slide 12
    Algar Lake Before 2010/2011 Winter Drilling Program Algar Lake SAGD Project Application filed in March 2010 for a SAGD facility with a design capacity of 11,300 BOPD As of October 2010, GLJ assigned 98 MMbbls of Proved + Probable…
  13. APRIL 2011 IPAA OGIS – Gulfport Energy Corp. – slide 13
    Algar Lake After 2010/2011 Winter Drilling Program Grizzly anticipates 17 core holes to be drilled at Algar Lake by the end of the 2010-2011 winter drilling season 14
  14. APRIL 2011 IPAA OGIS – Gulfport Energy Corp. – slide 14
    Algar Lake SAGD Project In March 2010 Grizzly submitted a regulatory application for a 11,300 BOPD oil sands project at Algar Lake Expect initial production at Algar Lake within 24 months Expected to operate at average capacity of…
  15. APRIL 2011 IPAA OGIS – Gulfport Energy Corp. – slide 15
    Thailand Gulfport owns interests in four onshore concession blocks in Thailand Sin Phu Horm Gas field in block 15/43 produced 87 MMCF per day p y of natural gas g and 439 barrels per p dayy of condensate in 2010 Gulfport owns…
  16. APRIL 2011 IPAA OGIS – Gulfport Energy Corp. – slide 16
    Thailand TEW TEW--E Well TEW-E Shot 250 square mile 3-D seismic survey in 2009 to unlock the geology behind TEW-E TEW-E was drilled to a total depth of 15,026 feet and logged over 5,000 feet of apparent possible gas saturated…
  17. APRIL 2011 IPAA OGIS – Gulfport Energy Corp. – slide 17
    Permian Asset Overview(1) 14,700 net acres; primarily targeting Wolfberry play Net proved reserves of 14.45 14 45 MMBOE (65% of total) 226 gross PUD locations Net probable reserves of 9.51 MMBOE 234 gross probable locations…
  18. APRIL 2011 IPAA OGIS – Gulfport Energy Corp. – slide 18
    South Louisiana Oil Focused Production Overview South Louisiana operations primarily in two 100% operated p fi ld originally fields i i ll di discovered dbby major j oilil companies in the early 1900s Two major fields with…
  19. APRIL 2011 IPAA OGIS – Gulfport Energy Corp. – slide 19
    Hackberry Asset Overview(1) 2011 Activities Update(2) Net proved reserves of 3.00 MMBOE Drilled and completed one well year-to-date 18 PUD locations, locations 13 preliminarily permitted un un- booked locations and growing…
  20. APRIL 2011 IPAA OGIS – Gulfport Energy Corp. – slide 20
    Hackberry Development Strategy Recent drilling activity has identified the existence of Gulfports joint exploration agreement at Central certain trends at Hackberry and potentially unlocked Hackberry provides significant running…
  21. APRIL 2011 IPAA OGIS – Gulfport Energy Corp. – slide 21
    West Cote Blanche Bay Asset Overview(1) 2011 Activities Update(2) Net proved reserves of 4.52 MMBOE Drilled and completed three wells year-to-date Net probable reserves of 66.15 15 MMBOE Pl Plan tto d drill ill 20 tto 24 wells ll…
  22. APRIL 2011 IPAA OGIS – Gulfport Energy Corp. – slide 22
    Niobrara Asset Overview 19,172 net acres 3 producing d i wells ll and d existing i ti wellll control t l on acreage 75-150 MMBOE of gross original oil in place per section(1) Gulfport operated Continue to p pursue acreage g…
  23. APRIL 2011 IPAA OGIS – Gulfport Energy Corp. – slide 23
    Niobrara Development Plan Well 1 Craig Dome Prospect will be the (1987) Craig Dome Prospect site of Gulfports initial Vertical, Slotted Liner 8,630 Gross / 4,315 Net Acres CUM: 262 MBO 208 MMCFG 322 MBO & 215 MMCFG development in…
  24. APRIL 2011 IPAA OGIS – Gulfport Energy Corp. – slide 24
    Utica Shale - Three Windows of Maturity The Utica Shale generally shallows and becomes less mature moving east to west Currently expect the Utica to have three windows of maturity similar to the Eagle Ford in South Texas Oil…
  25. APRIL 2011 IPAA OGIS – Gulfport Energy Corp. – slide 25
    Utica Shale - Industry Activity Chesapeake / Ohio Gulfport is targeting acreage Buckeye Energy within the wet gas / retrograde Range Resources 7 Da A 7-Day Average erage Test Rate of condensate d t and d mature t oil il 4.4…
  26. APRIL 2011 IPAA OGIS – Gulfport Energy Corp. – slide 26
    Utica Shale Illustrative Development Economics(1) ((1)) ((1,2) , ) ((1,2) , ) Utica Shale Bakken Eagle Ford Low High Well Cost (MM) 6.0 6.0 7.0 5.5 Total Vertical Depth 7,500 9,500 Feet 7,500 9,500 Feet 10,000 Feet 11,000 13,000…
  27. APRIL 2011 IPAA OGIS – Gulfport Energy Corp. – slide 27
    Key Investment Highlights Oil-focused producer with multiple production growth catalysts enables continued NAV accretion Canadian oil sands provides exposure to over 500 million barrels of oil resource including 24.5 million…
  28. APRIL 2011 IPAA OGIS – Gulfport Energy Corp. – slide 28
    Appendix 29
  29. APRIL 2011 IPAA OGIS – Gulfport Energy Corp. – slide 29
    Hedged Production Gulfport Energy Corporation Fixed Price Contracts 2011E Weighted Average Barrels Per Month Daily Price Day Jan-11 86.96 2,000 Feb-11 86.96 2,000 Mar-11 86.96 2,000 Apr 11 Apr-11 86 96 86.96 2 000 2,000…
  30. APRIL 2011 IPAA OGIS – Gulfport Energy Corp. – slide 30
    Lower Athabasca Regional Plan Inset Map Area Alberta Lower Athabasca Proposed Conservation & Recreation/Tourism Areas (LARP) - Grizzly Oil Sand Leases - Provincial Recreation Areas - Provincial Parks - Other Oil Sand…
  31. APRIL 2011 IPAA OGIS – Gulfport Energy Corp. – slide 31
    Lower Athabasca Regional Plan (cont.) Grizzly continues to review the recent Alberta Lower Athabasca & Lower announcement of the Draft Lower Athabasca Peace River Proposed Conservation & Recreation/Tourism Areas Regional Plan (LARP)…
  32. APRIL 2011 IPAA OGIS – Gulfport Energy Corp. – slide 32
    Grizzly SAGD Approach Unique Design, Proven Process Unique modular plant design 5,000 BOPD modular central plant One pad of 10 well ell pairs initiall initially All equipment on pre-fabricated modules All modules close coupled…
  33. APRIL 2011 IPAA OGIS – Gulfport Energy Corp. – slide 33
    Grizzly Reserves and Resources Notes Notes: Probable reserves are defined in the Canadian Oil and Gas Evaluation Handbook (the COGE Handbook) as those additional reserves that are less certain to be recovered than proved reserves. It…
  34. APRIL 2011 IPAA OGIS – Gulfport Energy Corp. – slide 34
    Permian Recent Transactions Imply Significant Value Buyer Deal Announced Purchase Price Acreage Production Proved MM Net Acres BOEPD O MMBOE O (1) Berry Petroleum 10/25/2010 180 9,300 1,200 N/A Linn Energy 9/7/2010 352 N/A…
  35. APRIL 2011 IPAA OGIS – Gulfport Energy Corp. – slide 35
    Permian Deal Comps Linn 3/29/10 Deal Announced: 3/23/2010 Gulfport Energy Linn 3/29/10 Acq. Purchase Price: 305 MM Acreage: N/A Production: 2,800 BOEPD R Reserves: 18 MMBOE Transaction Metrics: /Acre: N/A /Flowing Barrel:…
  36. APRIL 2011 IPAA OGIS – Gulfport Energy Corp. – slide 36
    Permian Deal Comps Linn Energy 7/1/10 Deal Announced: 7/1/2010 Purchase Price: 90 MM Acreage: N/A Gulfport Energy Linn 7/1/10 Acq. Production: 950 BOEPD R Reserves: 7 MMBOE Transaction Metrics: /Acre: N/A /Flowing Barrel:…
  37. APRIL 2011 IPAA OGIS – Gulfport Energy Corp. – slide 37
    Permian Deal Comps Energen 8/23/10 Deal Announced: 8/23/2010 Purchase Price: 185 MM Acreage: 8,700 Net Acres Gulfport Energy Production: 900 BOEPD Energen 8/26/10 Acq. R Reserves: 18 MMBOE Transaction Metrics: /Acre: 21,264…
  38. APRIL 2011 IPAA OGIS – Gulfport Energy Corp. – slide 38
    Permian Deal Comps Berry 10/25/10 Deal Announced: 10/25/2010 Purchase Price: 180 MM Acreage: 9,300 Net Acres Gulfport Energy Berry 10/29/10 Acq. Production: 1,200 BOEPD P2 R Reserves: 35 MMBOE Transaction Metrics: /Acre:…
  39. APRIL 2011 IPAA OGIS – Gulfport Energy Corp. – slide 39
    Niobrara Play Concept 19,172 net acres focused near a number of structures on the uplift between the Piceance and Sandwash basins 75 to 150 MMBOE(1) of gross original oil in place per section Significant oil in place in an…

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