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THE 2011 GLOBAL HUNTER SECURITIES CONFERENCE – Goodrich Petroleum Corp.

Goodrich Petroleum Corp. · Jul 19, 2011 · 34 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. THE 2011 GLOBAL HUNTER SECURITIES CONFERENCE – Goodrich Petroleum Corp. – slide 1
    The 2011 Global Hunter Securities Conference July 17-19, 2011
  2. THE 2011 GLOBAL HUNTER SECURITIES CONFERENCE – Goodrich Petroleum Corp. – slide 2
    Market Data Headquartered: Houston, Texas (NYSE:GDP) Market Data as of July 13, 2011 Price 17.69 Per Share Shares Of Common Stock Outstanding (Basic) 36.1 Million Market Capitalization 640 Million Enterprise Value 1,200…
  3. THE 2011 GLOBAL HUNTER SECURITIES CONFERENCE – Goodrich Petroleum Corp. – slide 3
    Capitalization Table ( in 000s) As of March 30, 2011 Cash, Restricted Cash & Equivalents 84,300 Current Debt: Senior Credit Facility (1) 0 Convertible Senior Notes due 2026 (2) 29,100 Long-term Debt: Convertible Senior Notes due…
  4. THE 2011 GLOBAL HUNTER SECURITIES CONFERENCE – Goodrich Petroleum Corp. – slide 4
    Company Profile & Strategy Growth oriented low cost E&P company focused on Proved Reserves Growth unconventional resource plays in Louisiana and Texas. (Bcfe) Multiple objectives with long life reserves and repeatability 464 Proven…
  5. THE 2011 GLOBAL HUNTER SECURITIES CONFERENCE – Goodrich Petroleum Corp. – slide 5
    FYE 2010 Reserve Overview Proved Reserves by Area 3P Reserves by Area Shelby Trough / ART Eagle Ford Eagle Ford CV - Vertical 2% 1% 7% (1) 1% Cotton Valley CV - Vertical Taylor Sand 18% 15% Shelby Trough / ART North Louisiana…
  6. THE 2011 GLOBAL HUNTER SECURITIES CONFERENCE – Goodrich Petroleum Corp. – slide 6
    2011 Drilling Program % of Area ( MM) total 2011 Capex Allocation Leasehold Eagle Ford Shale Trend 145 62% Cotton Valley 6% Taylor Sand Haynesville Core (NW La.) 28 12% 10% Shelby Trough Haynesville Shelby Trough / ART 24 10% /…
  7. THE 2011 GLOBAL HUNTER SECURITIES CONFERENCE – Goodrich Petroleum Corp. – slide 7
    Production Volumes (Average Net Daily Mcfe) 120,000 40 36.60 106,000 35 100,000 32.24 92,400 30 81,600 GDP Stock Price MCFE Per Day 80,000 25 66,100 24.94 60,000 20 15.80 43,800 17.69 15 40,000 10 20,000…
  8. THE 2011 GLOBAL HUNTER SECURITIES CONFERENCE – Goodrich Petroleum Corp. – slide 8
    Hedging Summary Daily Natural Gas & Crude Oil Hedged Volumes (NYMEX) 2011 2012 Natural Gas Natural Gas Volume Volume (MBtu/d) Floor Ceiling (MBtu/d) Floor Ceiling Collar 1 10,000 6.00 7.40 10,000 6.00 7.40 Collar 2 30,000 6.00…
  9. THE 2011 GLOBAL HUNTER SECURITIES CONFERENCE – Goodrich Petroleum Corp. – slide 9
    Core Properties NORTH LOUISIANA HAYNESVILLE CORE Gross (Net) Acres: 33,000 (16,000) Proved Reserves (YE10): 230 Bcfe Proved Reserves % PD: 34% Proved Reserves PV-10: 155mm Probable/Possible Reserves: 892 Bcfe Objective:…
  10. THE 2011 GLOBAL HUNTER SECURITIES CONFERENCE – Goodrich Petroleum Corp. – slide 10
    Eagle Ford Shale Trend Overview Pay Zones OLMOS ANACACHO TEXAS AUSTIN CHALK TEXAS EAGLE FORD 90 105 feet BUDA 11
  11. THE 2011 GLOBAL HUNTER SECURITIES CONFERENCE – Goodrich Petroleum Corp. – slide 11
    Eagle Ford Shale Trend Oil Window La Salle and Frio Counties, Texas 62% of capex budget allocated to EFS Trend, which will drive rapid oil volume growth Eight Eagle Ford Shale wells (Avg. 675 BOE/day) and two Buda Lime wells (Avg.…
  12. THE 2011 GLOBAL HUNTER SECURITIES CONFERENCE – Goodrich Petroleum Corp. – slide 12
    Eagle Ford Shale Trend Goodrich Acreage 55,000 gross (40,000 net) acres 13
  13. THE 2011 GLOBAL HUNTER SECURITIES CONFERENCE – Goodrich Petroleum Corp. – slide 13
    Eagle Ford Shale Activity -2000 GDP GDP -4000 Pedro Morales 7H (EFS) Pan Am C 1H (EFS) IP: 460 BOE/day IP: 250 BOE/day Chesapeake -3000 Traylor North 1H IP: 980 BOE/day El Paso GDP TJ Pearsall 1H Pan Am B 1H (EFS) Completing…
  14. THE 2011 GLOBAL HUNTER SECURITIES CONFERENCE – Goodrich Petroleum Corp. – slide 14
    Eagle Ford Shale Type Curve 1000 375 MBoe 475 MBoe 575 MBoe Normalized Production (BOE/day) IP rate (Boe/d) 650 850 1,025 IP rate (30 day avg. Boe/d) 600 800 950 800 Pretax IRR (90.00/ 5.00) 50% 75% 118% F&D (/Boe) 28.44 22.50…
  15. THE 2011 GLOBAL HUNTER SECURITIES CONFERENCE – Goodrich Petroleum Corp. – slide 15
    Eagle Ford Shale Well Economics IRR Sensitivity - 8.0 MM Capex 175% 150% 125% IRR (%) 100% 75% 50% 25% 0% 80.00 / 5.00 90.00 / 5.00 100.00 / 5.00 Oil Price (/BBL) / Gas Price (/MMBtu) Low TC - 375 Mboe Base TC - 475…
  16. THE 2011 GLOBAL HUNTER SECURITIES CONFERENCE – Goodrich Petroleum Corp. – slide 16
    Haynesville Shale Overview Pay Zones GDP 88,000 Net Acres TAYLOR TAYLOR SAND SAND TEXAS 100 300 feet LOUISIANA TEXAS LOUISIANA 17
  17. THE 2011 GLOBAL HUNTER SECURITIES CONFERENCE – Goodrich Petroleum Corp. – slide 17
    Haynesville / Bossier Shale Activity GDP GreenwoodWaskom Field Harrison Co. Core Haynesville horizontal Avg. EUR: 7.2 Bcfe Bossier Ph. Caddo Ph. CHK / GDP wells Avg. EUR: 7.0 Bcfe Panola Co. N. LA. Core DeSoto Ph. GDP…
  18. THE 2011 GLOBAL HUNTER SECURITIES CONFERENCE – Goodrich Petroleum Corp. – slide 18
    Haynesville Type Curve North Louisiana Core Low (6.5 Bcfe) Base (7.5 Bcfe) High (8.5 Bcfe) 100,000 IP rate (MMcf/d) 14.0 15.5 19.5 IP rate (30 day avg. MMcf/d) 10.0 11.0 15.5 Gross EUR (Bcf) 6.5 7.5 8.5 Pretax IRR 20% 30% 49% F&D…
  19. THE 2011 GLOBAL HUNTER SECURITIES CONFERENCE – Goodrich Petroleum Corp. – slide 19
    Haynesville Well Performance North Louisiana Core Bethany Longstreet, Greenwood-Waskom & Metcalf Fields Haynesville Horizontal Well Performance 11,000 140 Well Count 10,000 Hay Hz Well Group 120 9,000 Average Daily Production…
  20. THE 2011 GLOBAL HUNTER SECURITIES CONFERENCE – Goodrich Petroleum Corp. – slide 20
    Haynesville Shale Well Economics North Louisiana Core Haynesville Well Economics: 8.5 MM well cost 150% 125% 100% 75% 50% 25% 0% 4.00 5.00 6.00 7.00 6.5 Bcfe 7.5 Bcfe 8.5 Bcfe Note: NYMEX pricing shown. IRR calculation…
  21. THE 2011 GLOBAL HUNTER SECURITIES CONFERENCE – Goodrich Petroleum Corp. – slide 21
    Shelby Trough Haynesville Shale Activity Haynesville Shale Penetrations GDP Minden / Beckville GDP Acreage Panola Co. Haynesville Shale Permits Haynesville Rig Activity GDP Bethany Longstreet DeSoto Ph. GDP South Henderson…
  22. THE 2011 GLOBAL HUNTER SECURITIES CONFERENCE – Goodrich Petroleum Corp. – slide 22
    Shelby Trough Bossier Shale Activity Haynesville Shale Penetrations GDP Minden / Beckville GDP Acreage Panola Co. Haynesville Shale Permits Haynesville Rig Activity GDP Bethany Longstreet GDP (R. Dean 2H) Bossier Shale…
  23. THE 2011 GLOBAL HUNTER SECURITIES CONFERENCE – Goodrich Petroleum Corp. – slide 23
    Angelina River Haynesville Type Curves (Restricted Choke Program) 12,000 10,000 8,000 Mcfd 6,000 4,000 2,000 0 0 6 12 18 24 30 36 42 48 54 60 Production Month Low TC - 8.0 Bcf Mid TC - 10.0 Bcf High TC - 12.0 Bcf…
  24. THE 2011 GLOBAL HUNTER SECURITIES CONFERENCE – Goodrich Petroleum Corp. – slide 24
    Angelina River Haynesville Well Economics IRR Sensitivity - 12.0 MM Capex 80% 60% 40% 20% 0% 4.00 5.00 6.00 7.00 8.00 8.0 Bcf 10.0 Bcf 12.0 Bcf Note: NYMEX pricing shown. IRR calculation assumes NYMEX pricing less 0.50/Mcf…
  25. THE 2011 GLOBAL HUNTER SECURITIES CONFERENCE – Goodrich Petroleum Corp. – slide 25
    Potential Impact of the Haynesville Shale Net Proved Gross Net Per Well Gross Reserve Estimates: Reserves Probable & Probable & Area (Bcfe) Possible Wells(1) Possible Wells(1) 4.5 Bcfe 6.5 Bcfe 8.5 Bcfe Potential Net Impact on GDP…
  26. THE 2011 GLOBAL HUNTER SECURITIES CONFERENCE – Goodrich Petroleum Corp. – slide 26
    Cotton Valley (Taylor Sand) Beckville, Minden & South Henderson Fields / Rusk & Panola Counties, Texas Beckville & Minden: Shallow Deep GDP Gross Acres: 45,400 acres 45,200 acres KF WH Carter A2 GU B2H Net Acres: 40,200 acres 37,200…
  27. THE 2011 GLOBAL HUNTER SECURITIES CONFERENCE – Goodrich Petroleum Corp. – slide 27
    Cotton Valley Taylor Sand Type Curve 12,000 Normalized Production (Mcf/day) 10,000 8,000 6,000 4,000 2,000 0 0 6 12 18 24 30 36 42 48 54 60 Production Month Low TC - 7.5 Bcfe Mid TC - 8.5 Bcfe High TC - 9.5 Bcfe ANNUAL…
  28. THE 2011 GLOBAL HUNTER SECURITIES CONFERENCE – Goodrich Petroleum Corp. – slide 28
    Cotton Valley Taylor Sand Well Economics IRR Sensitivity - 7.5 MM Capex 200% 160% IRR (%) 120% 80% 40% 0% 80.00 / 4.00 90.00 / 5.00 100.00 / 6.00 Oil Price (/BBL) / Gas Price (/MMBtu) Low TC - 7.5 Bcfe Base TC - 8.5…
  29. THE 2011 GLOBAL HUNTER SECURITIES CONFERENCE – Goodrich Petroleum Corp. – slide 29
    Tuscaloosa Marine Shale Emerging shale oil play 74,000 net acres leased Net cost 13 million or 175 / acre Vintage wells define oil saturation and rock quality Average depth 11,000 13,000 TVD Thickness 100 200 High quality…
  30. THE 2011 GLOBAL HUNTER SECURITIES CONFERENCE – Goodrich Petroleum Corp. – slide 30
    Tuscaloosa Marine Shale Activity Map ECA & DNR Horizontal Re-Entry/Frac Prospective Area 100 TMS Thickness DVN Permitted DVN Drilling 31
  31. THE 2011 GLOBAL HUNTER SECURITIES CONFERENCE – Goodrich Petroleum Corp. – slide 31
    Drilling Inventory 2011 Capital Program Total Inventory Net Net Proved, 2011 Net Gross Net Probable / Probable, Unrisked YE10 Probable Probable Possible Possible Capital Proved and and Reserve Reserve Gross Net Expenditures Reserves…
  32. THE 2011 GLOBAL HUNTER SECURITIES CONFERENCE – Goodrich Petroleum Corp. – slide 32
    Estimated Sum of the Parts Valuation Range Asset Amount (1) Metric ( in millions) Low High Low High Flowing Production Multiple 101,000 Mcfe/day 8,000 / Mcfe 12,000 / Mcfe 808 1,212 Proved Undeveloped Reserves 272 Bcfe 1.50 / Mcfe…
  33. THE 2011 GLOBAL HUNTER SECURITIES CONFERENCE – Goodrich Petroleum Corp. – slide 33
    Why Invest in Goodrich Petroleum Quality of reserves and inventory has never been this good Excellent exposure to Eagle Ford Shale oil play and core Haynesville Shale Attractive Margins: Approximately 45% of forecasted natural gas…
  34. THE 2011 GLOBAL HUNTER SECURITIES CONFERENCE – Goodrich Petroleum Corp. – slide 34
    35

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