Gulfport Energy Corporation Investor Presentation January 2012
Gulfport Today Company Overview Primary Areas of Operation Grizzly(3) Ticker: Acreage: 178,081 Net Acres 2P Reserves: 28.5 MMbo Contingent Resource: 493 MMBbl Market Cap(1): 1.7 Billion Utica Shale Acreage: 62,500 Net Acres…
Key Investment Highlights Oil-focused producer with multiple production growth catalysts enables continued NAV accretion 2011YTD production 90% crude oil; proved reserves 88% crude oil at 2010YE Permian, Utica, Oil Sands, and Niobrara…
Large Captured Oil Resource Base Large exploitable oil-rich resource base of 597 net MMBOE + significant upside 493 (1) Proved + probable pre-tax PV 10 = MMBOE Niobrara Utica Thailand Oil Sands 1.0 Billion at NYMEX strip(2) Oil…
Utica / Point Pleasant Shale Utica Shale Activity Map East / Shell Rex Energy (3) Asset Overview (1) Chesapeake Patterson 2013 1HU Cheeseman 1H Geatches MAH 3H Spud Horizontal Completing Horizontal 24-Hour Test Rate of 9.2 MMcfpd…
Utica / Point Pleasant Shale The Point Pleasant member of the Utica is The Point Pleasant member of the Utica similar to the Eagle Ford delivers excellent economics Higher carbonate content and low clay content Gulfports position in…
Utica / Point Pleasant Shale Note: Sourced from W.D. Von Gonten Study 8
Grizzly Unique Oil Sands Position Gulfport has an interest in a substantial position in the Canadian oil sands which is a unique asset for a mid-cap independent E&P with first production forecasted for mid 2013 Gulfports interest…
Grizzly Overview Large land and resource base Over 700,000 net acres in Athabasca and Peace River regions (nearly all 100% working interest) 114 million bbls of probable reserves and approximately 2 billion bbls of best estimate…
Grizzly Reserve & Resource Summary Reserves / Resources (MMbbl) Probable Probable + Possible Best Estimate Contingent Resources Existing Technology Immediate Development Algar Lake 114 154 35 Near Term Development Thickwood…
Grizzly Reserve & Resource Summary Current Project Development Schedule (1) (3) 200,000+ Near-term Development 10,000+ 60,000+ 10,000+ Immediate 4,000+ (2) Development 15,000+ 10,000+ 5,000+ 5,000+ 2013 2014 2015…
Algar Lake 10,000 12,000 bbls/day 100% W.I. in 56,960 contiguous acres 65 cored delineation wells 21 km2 3-D seismic Reservoir characteristics 22 meter thick bitumen pay No bottom water or top gas Continuous caprock over 40 meters…
Permian Asset Overview (1) 15,300 net acres; primarily targeting Wolfberry play Net proved reserves of 14.45 MMBoe (65% of total) 226 gross PUD locations Net probable reserves of 9.51 MMBoe 234 gross probable locations Potentially…
Hackberry Asset Overview (1) 2011 Activities Update (2) Net proved reserves of 3.00 MMBoe Spudded eighteen wells 18 PUD locations, 13 preliminarily permitted un- Two wells are currently drilling booked locations and growing inventory…
West Cote Blanche Bay Asset Overview (1) 2011 Activities Update (2) Net proved reserves of 4.52 MMBoe Spudded seventeen wells Net probable reserves of 11.23 MMBoe Currently running one rig full-time at WCBB 29 booked PUD locations,…
Niobrara Asset Overview Upside 17,600 net acres Utilizing application of 3-D seismic to aid in Gulfport continues to pursue acreage well positioning acquisition opportunities Application of modern hydraulic fracturing 3 producing…
Thailand Gulfport owns interests in four onshore concession blocks in Thailand Sin Phu Horm gas field in block 15/43 produced 85.91 MMcf per day of natural gas and 392.22 barrels per day of condensate in 3Q11 Gulfport owns 0.7%…
Financial Summary 19
2011 2012 Gulfport Guidance Year Ending Year Ending 2011E CAPEX (in millions) 12/31/2011 12/31/2012 Forecasted Production Total = 127 - 133 Million Oil Equivalent BOE 2,200,000 - 2,400,000 3,000,000 - 3,200,000 WCBB Average Daily…
Attractive Cash Margins High revenue per barrel of production due to liquids weighted production 90% - 95% crude oil with 85% enjoying attractive premium for Louisiana sweet crude Results in free cash flow that is being redeployed into…
Key Investment Highlights Oil-focused producer with multiple production growth catalysts enables continued NAV accretion Sizeable acreage position in Utica Shale of eastern Ohio with approximately 125,000 gross (62,500 net) acres…
Appendix 23
Hedged Production Gulfport Energy Corporation Gulfport Energy Corporation WTI Fixed Price Swaps Brent Fixed Price Swaps 2011E 2012E Month Weighted Average Daily Price Barrels Per Day Month Weighted Average Daily Price Barrels Per Day…
Grizzly ARMS Development Model Grizzly plans to deploy its Advanced, Relocatable, Modular, Standardized (ARMS) Development Model Reduced cost Shop focused construction vs. field 50% smaller footprint vs. typical SAGD facility…
ARMS Development Model Requires 50% Smaller Footprint Traditional SAGD Development (10,000 bbls/d) Central Plant footprint of 16 to 33 ha* custom built for reservoir Electrical Buildings Glycol Cooler Glycol Building Tank Building…
ARMS Capacity and Costs vs Similar Sized Projects 10,000- 11,700- 12,000 39,100- 15,000/ 40,000 bbls/d 60,000/ 352- bbls/d bbls/d bbls/d 30,000 348 - 440 mm 7,500 405 mm bbls/d 9,000 bbls/d 33,750- 10,125/ 40,500/ bbls/d…
Niobrara Development Plan Craig Dome Prospect 8,630 Gross / 4,315 Net Acres 31 32 33 Cum:34322 MBO 35 & 21536 MMCFG31 32 33 34 35 Legend 36 Craig Dome Prospect will be the site 31 Niobrara Shale of Gulfports initial…
Niobrara Play Concept 17,600 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…
Thailand TEW-E Well Shot 250 square mile 3-D TEW-E 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 column…
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 is…
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