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JANUARY 2013 INVESTOR PRESENTATION – Gulfport Energy Corp.

Gulfport Energy Corp. · Jan 14, 2013 · 44 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. JANUARY 2013 INVESTOR PRESENTATION – Gulfport Energy Corp. – slide 1
    Investor Presentation January 2013
  2. JANUARY 2013 INVESTOR PRESENTATION – Gulfport Energy Corp. – slide 2
    Gulfport Today Company Overview Primary Areas of Operation Grizzly(3) Ticker: Acreage: 200,054 Net Acres Proved Reserves: 16.75 Net MMBbl Probable Reserves: 11.75 Net MMBbl Contingent Resource: 771 Net MMBbl Market Cap(1): 2.7…
  3. JANUARY 2013 INVESTOR PRESENTATION – Gulfport Energy Corp. – slide 3
    Key Investment Highlights Oil-focused producer with multiple production growth catalysts enables continued NAV accretion 2011 production 94% crude oil and NGL; proved reserves 86% crude oil and NGL at 2011YE Utica and Oil Sands…
  4. JANUARY 2013 INVESTOR PRESENTATION – Gulfport Energy Corp. – slide 4
    Strategy Over time Gulfport has focused on building an oil-levered asset base while also diversifying its geographic presence, as evidenced by the Company's move into the Permian Basin in 2007 and more recent acquisitions of acreage…
  5. JANUARY 2013 INVESTOR PRESENTATION – Gulfport Energy Corp. – slide 5
    Large Captured Oil Resource Base Large exploitable oil-rich resource base of 826 net MMBoe + significant upside 771.50 (3) Proved + probable pre-tax PV 10 = MMBoe Utica Oil Sands Niobrara Thailand 619 million at NYMEX strip (4) Oil…
  6. JANUARY 2013 INVESTOR PRESENTATION – Gulfport Energy Corp. – slide 6
    2012 & 2013 Gulfport Guidance Year Ending Year Ending 12/31/2012 12/31/2013 2012E E&P CAPEX (in millions) Forecasted Production Total = 230 - 242 Million Oil Equivalent Boe 2,550,000 2,600,000 7,600,000 7,900,000 Hackberry Utica…
  7. JANUARY 2013 INVESTOR PRESENTATION – Gulfport Energy Corp. – slide 7
    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…
  8. JANUARY 2013 INVESTOR PRESENTATION – Gulfport Energy Corp. – slide 8
    Track Record of Growth Annual Production Gulfport has consistently delivered production growth 25,000 Approximately quadrupled production since 2005 while also increasing crude oil 21,233 component (84% in 2005; 91% in 2011)…
  9. JANUARY 2013 INVESTOR PRESENTATION – Gulfport Energy Corp. – slide 9
    Asset Overview 10
  10. JANUARY 2013 INVESTOR PRESENTATION – Gulfport Energy Corp. – slide 10
    Utica Shale Overview Point Pleasant Thickness (Isopatch Mapping) Point Pleasant TOC (Organic Carbon) Utica Shale Summary Erie Erie 1 1 1 2 Lake Ashtabula 1 Lake Ashtabula 2 Warren 2 Warren 2 50…
  11. JANUARY 2013 INVESTOR PRESENTATION – Gulfport Energy Corp. – slide 11
    Utica Shale Overview Utica Shale Activity Map Chesapeake Mangun 8H Enervest 3.1 Mmcfpd + 1,015 Bblpd liquids Six 400 Bbl tanks on location Asset Overview (1) Frank 2H Chesapeake 24-Hour Test Rate of 1.2 MMcfd + Chesapeake…
  12. JANUARY 2013 INVESTOR PRESENTATION – Gulfport Energy Corp. – slide 12
    Utica Shale Summary of Well Results Production Mix Completion Length of Lateral Frac IP Rate Well Name County Oil Gas NGLs Shrink Factor (1) Date (feet) Stages (Boe/d) (1) Wagner 1-28H Harrison 5/28/2012 8,143 28 4,650 9% 50% 41%…
  13. JANUARY 2013 INVESTOR PRESENTATION – Gulfport Energy Corp. – slide 13
    Utica Shale Focused Ion Beam SEM Images Analysis of Ion-milled Scanned Electron Microscopy (SEM) images of the Point Pleasant formation indicate: Horizontal organic extrusion fractures may be indication of overpressure Significant…
  14. JANUARY 2013 INVESTOR PRESENTATION – Gulfport Energy Corp. – slide 14
    Utica Shale Eagle Ford Analog Utica Shale Point Pleasant Interval Eagle Ford Porosity Associated with Organic Material Organic Material Lower Eagle Ford, wet gas window Porosity 11.5 % Kerogen 7.7 % Perm = 1034 nD High…
  15. JANUARY 2013 INVESTOR PRESENTATION – Gulfport Energy Corp. – slide 15
    Utica Shale Eagle Ford Analog The Point Pleasant member of the Utica is similar to the The Point Pleasant member of the Utica delivers Eagle Ford excellent economics 50% calcite and 20% clay content (which is similar to the…
  16. JANUARY 2013 INVESTOR PRESENTATION – Gulfport Energy Corp. – slide 16
    Utica Shale MarkWest Midstream Facilities Cadiz Processing Complex in Harrison County, Ohio Total Cadiz Interim Refrigeration (4Q2012) 60 MMcf/day Harrison Sarsen & Cadiz I (1Q2013) 125 MMcf/day Fractionator Bluestone Proposed…
  17. JANUARY 2013 INVESTOR PRESENTATION – Gulfport Energy Corp. – slide 17
    Hackberry Asset Overview (1) 2012 Activities Update (2) Net proved reserves of 1.91 MMBoe Currently running two drilling rigs Net probable reserves of 0.25 MMBoe Land rig drilling at East Hackberry 6 gross PUD locations Barge rig…
  18. JANUARY 2013 INVESTOR PRESENTATION – Gulfport Energy Corp. – slide 18
    West Cote Blanche Bay Asset Overview (1) 2013 Planned Activities (2) Net proved reserves of 3.97 MMBoe Plan to drill 22 to 24 wells and perform approximately Net probable reserves of 10.37 MMBoe 60 recompletions 24 booked PUD…
  19. JANUARY 2013 INVESTOR PRESENTATION – Gulfport Energy Corp. – slide 19
    Oil Sands Overview Oil Sands Summary Oil Sands resource development commenced in the 1960s Steam-assisted Gravity Drainage (SAGD) technology developed in the 1980s Land grab in 2006 - 2007 resulted in Albertas highly prospective…
  20. JANUARY 2013 INVESTOR PRESENTATION – Gulfport Energy Corp. – slide 20
    Grizzly Oil Sands Gulfport has interest in a substantial position in the Canadian oil sands by way of a 24.9% interest in Grizzly Oil Sands ULC (Grizzly) Grizzly is effectively the last major private company in the oil sands without a…
  21. JANUARY 2013 INVESTOR PRESENTATION – Gulfport Energy Corp. – slide 21
    Grizzly Algar Lake: 10,000 to 12,000+ bbls/day 100% W.I. in 56,960 contiguous acres Regulatory approved for 11,300 bbls/d 65 cored delineation wells & 21 km2 3-D seismic 10 km northwest of the JACOS Hangingstone SAGD project ( 6,100…
  22. JANUARY 2013 INVESTOR PRESENTATION – Gulfport Energy Corp. – slide 22
    Grizzly Algar Lake: Timeline to Production ERCB Project Approval Plant Module Fabrication Road Construction Plant & Pad Site Civil Construction SAGD Well Pair Drilling/Completions In-Field Plant Assembly…
  23. JANUARY 2013 INVESTOR PRESENTATION – Gulfport Energy Corp. – slide 23
    Grizzly May River 100% W.I. in 46,700 acres in MEG Statoil/PTTEP Kai Kos Dehseh THORNBURY the Athabasca oil sands area 10,000 bbls/d Current Prod. 200,000 bbls/d Peak Prod. CENOVUS / COP NEXEN / OPTI STATOIL PTTEP LEISMER On…
  24. JANUARY 2013 INVESTOR PRESENTATION – Gulfport Energy Corp. – slide 24
    Permian Basin Overview Permian Basin Summary Permian Basin Map The first commercial oil well in the Permian Basin was completed in 1921 Production in the Permian had declined from 1993 through 2007 Since 2007, technological…
  25. JANUARY 2013 INVESTOR PRESENTATION – Gulfport Energy Corp. – slide 25
    Diamondback Energy Gulfport has interest in a position in the Permian Basin in West Texas by way of a 21.4% interest in Diamondback Energy, Inc. (NASDAQ: FANG) Diamondback Energy Summary Oil-focused operator in the Permian Basin…
  26. JANUARY 2013 INVESTOR PRESENTATION – Gulfport Energy Corp. – slide 26
    Diamondback Energy Horizontal Upside Horizontal exploitation currently viewed as an additional method to extract incremental hydrocarbons Borden Scurry in the basin Gaines Wolfcamp Dawson Majority of horizontal activity is…
  27. JANUARY 2013 INVESTOR PRESENTATION – Gulfport Energy Corp. – slide 27
    Appendix A 28
  28. JANUARY 2013 INVESTOR PRESENTATION – Gulfport Energy Corp. – slide 28
    Vertical Integration Gulfport is focused on controlling costs, takeaway capacity, and quality of third party services through vertical integration Control of Costs and Quantity Increased Prices through Control of Takeaway Gator…
  29. JANUARY 2013 INVESTOR PRESENTATION – Gulfport Energy Corp. – slide 29
    Hedged Production Gulfport Energy Corporation Fixed Price Swaps 2013E Month Weighted Average Daily Price Barrels Per Day Jan-13 101.96 5,000 Feb-13 101.96 5,000 Mar-13 101.96 5,000 Apr-13 101.96 5,000 May-13 101.96 5,000 Jun-13…
  30. JANUARY 2013 INVESTOR PRESENTATION – Gulfport Energy Corp. – slide 30
    Historical Cash Margins Year Ended December 31, ( in millions) 2008 2009 2010 2011 Statement of Operations Oil and Natural Gas Sales 141.7 85.6 128.0 229.0 EBITDA 136.0 55.8 89.7 172.7 Interest Expense 4.8 2.3 2.8 1.4 Net income…
  31. JANUARY 2013 INVESTOR PRESENTATION – Gulfport Energy Corp. – slide 31
    Proved Reserve Summary (Ex-Permian) Net Reserves as of December 31, 2011 Oil Gas Total PV-10 (MM) (MMBbls) (MMcf) (MMBoe) SEC (1) NYMEX Strip (2) Proved Developed Producing 2.18 1.34 2.40 120 128 Proved Developed Non-Producing 2.50…
  32. JANUARY 2013 INVESTOR PRESENTATION – Gulfport Energy Corp. – slide 32
    Niobrara Asset Overview (1) Upside 11,692 net acres (2) Utilizing application of 3-D seismic to aid in well Gulfport continues to pursue attractive acreage positioning acquisition opportunities Application of modern hydraulic…
  33. JANUARY 2013 INVESTOR PRESENTATION – Gulfport Energy Corp. – slide 33
    Thailand Gulfport owns interests in four onshore concession blocks in Thailand Sin Phu Horm gas field in block 15/43 produced 93 MMcf per day of natural gas and 425 barrels per day of condensate in 3Q12 Gulfport owns 0.7%…
  34. JANUARY 2013 INVESTOR PRESENTATION – Gulfport Energy Corp. – slide 34
    Appendix B Grizzly Update 35
  35. JANUARY 2013 INVESTOR PRESENTATION – Gulfport Energy Corp. – slide 35
    Grizzly Reserves & Resources Algar Lake Reserves and Resources Proved Reserves Probable Reserves Algar Lake Contingent Resources Carbonates May River 2% 1% 1% May River 6% 26% Contingent Resources Clastics Contingent Resources…
  36. JANUARY 2013 INVESTOR PRESENTATION – Gulfport Energy Corp. – slide 36
    Grizzly Reserve & Resource Summary Current Project Development Schedule (1) 383,000+ Total 91,300 20,400+ 20,400+ May River 74,800 20,400+ 5,500+ 13,600+ Thickwood 5,500 5,500+ Algar Lake 1&2 5,500+ 11,000…
  37. JANUARY 2013 INVESTOR PRESENTATION – Gulfport Energy Corp. – slide 37
    Grizzly Algar Lake: Construction Update Bitumen Storage Tanks and Pump House SAGD Well Pairs Completed module joined to pilings at the Algar Lake plant site ARMs Modules Fitting Together to Form Algar Lake Facility Central Plant…
  38. JANUARY 2013 INVESTOR PRESENTATION – Gulfport Energy Corp. – slide 38
    Grizzly May River: Regional Overview Regional Overview of May River Property Project Current and Planned Production Phase Bbl/day Status Cenovus/ConocoPhillips 1 A 8,000 Operating MEG THORNBURY Christina Lake B 10,000 Operating C…
  39. JANUARY 2013 INVESTOR PRESENTATION – Gulfport Energy Corp. – slide 39
    Grizzly May River: Ideally Situated Near Infrastructure The May River property is in close proximity to Infrastructure Surrounding May River Property existing key infrastructure The May River lease is located 130 km southeast of the…
  40. JANUARY 2013 INVESTOR PRESENTATION – Gulfport Energy Corp. – slide 40
    Thickwood Hills 10,000+ bbls/day 100% W.I. interest in 38,400 contiguous acres 59 cored delineation wells drilled 107 mmbbls of contingent resources Reservoir characteristics (Wabiskaw D): Bitumen sand covers entire land block…
  41. JANUARY 2013 INVESTOR PRESENTATION – Gulfport Energy Corp. – slide 41
    Grizzly ARMS Development Model Grizzlys Advanced, Relocatable, Modular, Standardized (ARMS) Development Model uses proven technologies in a more flexible, compact form Reduced cost Shop focused construction vs. field 50% smaller…
  42. JANUARY 2013 INVESTOR PRESENTATION – Gulfport Energy Corp. – slide 42
    Grizzly 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…
  43. JANUARY 2013 INVESTOR PRESENTATION – Gulfport Energy Corp. – slide 43
    Grizzly Oil Sands: Recent Transaction Comps Transaction 2P + BE Announcement Transaction Value Value 2P Reserves Contingent Acquiror Seller Target Date US mm Net Acres US /acre mmbbls mmbbls / 2P + BEC Public Sunshine Oilsands IPO…
  44. JANUARY 2013 INVESTOR PRESENTATION – Gulfport Energy Corp. – slide 44
    Gulfport Energy Headquarters Paul Heerwagen 14313 North May Avenue, Suite 100 Director Investor Relations Oklahoma City, OK 73134 (405) 242-4888 www.gulfportenergy.com pheerwagengulfportenergy.com

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