Company Highlights Balanced Portfolio Long-Term Growth 79,000 net acres in two premier U.S. liquids resource plays Strong Current Cash Flow/Profitability 5,545 Boe/d of production in 3Q 2011 (65% oil) 24 Mmboe proved reserves; 60%…
Management Track Record Track record of creating value and liquidity for 1992-1996 1997-2001 shareholders Hampton Resources Corp Texoil Inc. Gulf Coast Gulf Coast, Permian Basin Success with multiple entities over multiple years…
Company Overview Bakken Operations focused in Texas, Gulf Coast 55,000 net acres and Williston Basin Oil-weighted production and reserves from primarily operated properties Growing production profile Significant low-risk drilling…
Reserves and Production January 1, 2011 Proved Reserves 24.0 MMBOE(1) Proved Reserves (MMBOE)(2) Average Daily Production (BOE/d) (BOE/d) (3) (1) As of January 1, 2011. Excludes interests in two affiliated partnerships.…
GeoResources Asset Overview Oil Weighted Development 7
Bakken Shale Overview 55,000 total net acres in four project areas Williams County Project Operated 28,000 net acre block 10 wells drilled and completed Eastern Montana Project 9,400 operated / 3,600 non-operated acres Average WI…
Williams County Project Concentrated 28,000 net acre block in Peak Month Average Rates In Project Area NW Williams Co., ND 21 to 24 gross operated wells to be spud in 2012 (4 additional operated wells to be drilled in Eastern Montana…
Williams County Development Economics Development Economics (1,280 Acre Unit)(1)(2) (1) Assumes oil differential of (15%) and assumes gas shrinkage of (10%). Natural gas price held constant at 5/Mcf with no gas differential. (2) EUR…
Eagle Ford Shale Overview Concentrated 24,000 net acre block in volatile oil window in Fayette/Gonzales Counties 3 gross wells drilled and producing 20 to 25 gross operated wells to be spud in 2012 35% - 45% Average WI Eagle…
Eagle Ford Shale Successful initial drilling has de-risked acreage GEOI Peebles 1H Flowing Back after Frac 408 boe/d 30-day avg. rate for 1st three wells 5 wells waiting on completion (2 currently being GEOI Black Jack Springs 1H…
Eagle Ford Development Economics Development Economics (5,000 ft. Lateral)(1)(2) (1) Assumes oil differentials of (5%) and assumes gas shrinkage of (15%). Natural gas price held constant at 5/Mcf with a +20% gas differential. (2)…
Eagle Ford Illustrative Resource Potential Resource Potential (1) Eagle Ford Shale (Fayette Co., Texas) 350 Mboe 500 Mboe Assumed Spacing Unit Size (Acres) 900 900 Wells per Spacing Unit 6 6 Acres per Well (Spacing Unit / Wells…
Focused on Economics Eagle Ford Bakken Improving drilling efficiencies Improving drilling efficiencies Drilling without intermediate casing Efforts to date have reduced drilling time from Pad drilling 30 to 20 days resulting in cost…
Austin Chalk 29,000 net acres in Giddings Area Austin Chalk Acreage 17 wells drilled 100% success WI ranges from 37% - 53% GEOI West Cannon Unit Operating control 60 Day Avg.: 1,014 Boe/d (67% oil) Majority of acreage…
Financial Overview
Capital Plan and Production Guidance Capital Allocation Production Guidance 2011 capital plan of approximately 120 MM Year Ending December 31, 2011 5,000 to 5,500 boe/d estimated daily rate 61% to 65% oil 2012 capital plan of 188…
Strong Financial Position Conservative use of leverage to maintain strong balance sheet Ability to fund 2012 capital budget with cash flow and undrawn debt capacity Twelve months ended 9/30/11 EBITDAX(1) = 77.6 MM 216 MM of liquidity…
Investment Highlights Significant upside from Eagle Ford and Bakken positions Eagle Ford Shale - 24,000 net acres Bakken Shale 55,000 net acres Ongoing leasing program to further expand acreage Solid proved reserve and production…
Appendix
Quarterly Production By Area Diverse production base from multiple areas Bakken and Eagle Ford production are growing Oil-weighted production continues to accelerate Daily Production by Area (Boe/d) 3 Mos Ended 9/30/11 3 Mos…
Bakken AMI Drilling Locations Note: Information as of February, 2012. GEOI operated wells are labeled with well names. Black labels represent GEOI wells that have been spud, red labels represent GEOI wells that have been surveyed but…
Development Economics Table Development Economics(2) Bakken Shale (Williams Co., North Dakota) Eagle Ford Shale (Fayette Co., Texas) 350 Mboe 500 Mboe 350 Mboe 500 Mboe Well Assumptions Drilling & Completion Cost (M) 8,500 8,500…
Proved Reserves Proved Reserves SEC Pricing at 1/1/11 ( in millions) Oil Gas Total % of Corporate Interests MMBO BCF MMBOE Total PV-10 (1) PDP 8.9 33.0 14.4 60.0% 239.6 PDNP 2.3 6.1 3.4 14.2% 68.5 PUD 3.2 18.4 6.2 25.8% 70.2 Total…
Hedge Portfolio GeoResources uses commodity price risk management in order to execute its business plan throughout commodity price cycles Oil Hedges Natural Gas Hedges 85 .00 to 110.00 Collar Swap Weighted Average Oil Hedge…
Operating Performance Historical Operating Data 12 Mos Ended Years Ended December 31, 9/30/2011 2010 2009 2008 Key Data: Average realized oil price (/Bbl) 83.45 70.33 61.09 82.42 Avg. realized natural gas price (/Mcf) 5.30 5.30 3.97…
Reconciliation of non-GAAP Measures Adjusted EBITDAX Reconciliation 12 Mos Ended Years Ended December 31, 9/30/2011 2010 2009 2008 ( in millions) Net Income Attributable to GeoResources 29.8 23.3 9.8 13.5 Adjustments: (Gain) on sale…
Reconciliation of non-GAAP Measures Adjusted Net Income Reconciliation 12 Mos Ended Years Ended December 31, 9/30/2011 2010 2009 2008 ( in millions) Net Income Attributable to GeoResources 29.8 23.3 9.8 13.5 Adjustments: Unrealized…
Standardized Measure SEC PV-10 Reconciliation to Standardized Measure(1) ( in millions) 1/1/2011 Direct interest in oil and gas reserves: Present value of estimated future net revenues (PV-10%) 378.3 Future income taxes at 10%…
Additional Disclosures The disclosures below apply to the contents of this presentation: In April 2007, GeoResources, Inc. (GEOI or the Company) merged with Southern Bay Oil & Gas, L.P. (Southern Bay) and a subsidiary of Chandler…
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