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MARCH 2012 INVESTOR PRESENTATION – Gulfport Energy Corp.

Gulfport Energy Corp. · Mar 10, 2012 · 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. MARCH 2012 INVESTOR PRESENTATION – Gulfport Energy Corp. – slide 1
    Investor Presentation March 2012
  2. MARCH 2012 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): 1.8…
  3. MARCH 2012 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 Permian, Utica, Oil Sands,…
  4. MARCH 2012 INVESTOR PRESENTATION – Gulfport Energy Corp. – slide 4
    History of Gulfport Gulfport Energy Corporation (GPOR) is an independent E&P company based in Oklahoma City, OK Historical focus in South Louisiana but Company has expanded asset focus over time and continues to diversify its asset…
  5. MARCH 2012 INVESTOR PRESENTATION – Gulfport Energy Corp. – slide 5
    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…
  6. MARCH 2012 INVESTOR PRESENTATION – Gulfport Energy Corp. – slide 6
    Large Captured Oil Resource Base Large exploitable oil-rich resource base of 878 net MMBOE + significant upside 771.50 (1) Proved + probable pre-tax PV 10 = MMBOE Niobrara Thailand Utica Oil Sands 917 million at NYMEX strip(2) Oil…
  7. MARCH 2012 INVESTOR PRESENTATION – Gulfport Energy Corp. – slide 7
    2012 Gulfport Guidance Year Ending 12/31/2012 2012E CAPEX (in millions) Forecasted Production Oil Equivalent BOE 3,000,000 - 3,200,000 Total = 215 - 225 Million Average Daily Oil Equivalent Midpoint BOEPD 8,197 8,743 Projected…
  8. MARCH 2012 INVESTOR PRESENTATION – Gulfport Energy Corp. – slide 8
    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…
  9. MARCH 2012 INVESTOR PRESENTATION – Gulfport Energy Corp. – slide 9
    Track Record of Growth Annual Production Gulfport has consistently delivered production growth 9,000 8,470 Approximately quadrupled production since 2005 while also increasing crude oil component 8,000 (84% in 2005; 91% in 2011)…
  10. MARCH 2012 INVESTOR PRESENTATION – Gulfport Energy Corp. – slide 10
    Utica / Point Pleasant Shale Utica Shale Activity Map Chesapeake Por Murvay Chesapeake Thompson 3H East / Shell Patterson Asset Overview (1) Chesapeake Drilled Chesapeake 6.4 MMcfpd 2013 1HU Spud Hosey Por 6H-X Geatches MAH…
  11. MARCH 2012 INVESTOR PRESENTATION – Gulfport Energy Corp. – slide 11
    Utica / Point Pleasant Shale Cross Section 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…
  12. MARCH 2012 INVESTOR PRESENTATION – Gulfport Energy Corp. – slide 12
    Utica / Point Pleasant Shale Eagle Ford Comparison 13 Note: Sourced from W.D. Von Gonten Study
  13. MARCH 2012 INVESTOR PRESENTATION – Gulfport Energy Corp. – slide 13
    Grizzly Oil Sands Asphalt Creek Grizzly Oil Sands Leases Firebag Other Oil Sand Leases River McClelland Lake Alberta Oil Sands Areas Ells North Thermal Producer Silvertip Husky/BP - Sunrise Liege-Harper Suncor - Firebag Under…
  14. MARCH 2012 INVESTOR PRESENTATION – Gulfport Energy Corp. – slide 14
    Permian Asset Overview (1) 15,300 net acres; primarily targeting Wolfberry play Net proved reserves of 12.88 MMBoe (67% of total) 252 gross PUD locations Net probable reserves of 10.94 MMBoe 281 gross probable locations Net…
  15. MARCH 2012 INVESTOR PRESENTATION – Gulfport Energy Corp. – slide 15
    Permian Horizontal Drilling Potential Gulfport plans to spud its first Parks 5 16H Hutt Donald L E 15H horizontal in March of 2012 The extensive science previously conducted will add valuable support while choosing locations…
  16. MARCH 2012 INVESTOR PRESENTATION – Gulfport Energy Corp. – slide 16
    Hackberry Asset Overview (1) Production (2) Net proved reserves of 1.91 MMBoe Average net production of 2,111 Boepd Net probable reserves of 0.25 MMBoe 29% of Gulfports total net production 6 gross PUD locations Proprietary 42…
  17. MARCH 2012 INVESTOR PRESENTATION – Gulfport Energy Corp. – slide 17
    West Cote Blanche Bay Asset Overview (1) 2012 Current and Planned Activities (2) Net proved reserves of 3.97 MMBoe Currently running two rigs at WCBB Net probable reserves of 10.37 MMBoe Plan to drill 22 to 24 wells and perform 24…
  18. MARCH 2012 INVESTOR PRESENTATION – Gulfport Energy Corp. – slide 18
    Niobrara Asset Overview (1) Upside 14,993 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 Net proved…
  19. MARCH 2012 INVESTOR PRESENTATION – Gulfport Energy Corp. – slide 19
    Niobrara Industry Activity 30 29 28 27 26 25 30 29 25 28 27 30 29 26 28 25 Craig Dome Prospect 27 26 30 25 29 28 31 Elgin 11-10-1 Moffet 22-1-1 8,630 Gross / 4,315 Net Acres 32 33 Drilled, Completed, 34 35 36 31…
  20. MARCH 2012 INVESTOR PRESENTATION – Gulfport Energy Corp. – slide 20
    Thailand Gulfport owns interests in four onshore concession blocks in Thailand Sin Phu Horm gas field in block 15/43 produced 83 MMcf per day of natural gas and 380 barrels per day of condensate in 2011 Gulfport owns 0.7%…
  21. MARCH 2012 INVESTOR PRESENTATION – Gulfport Energy Corp. – slide 21
    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 Permian, Utica, Oil Sands,…
  22. MARCH 2012 INVESTOR PRESENTATION – Gulfport Energy Corp. – slide 22
    Grizzly Update 23
  23. MARCH 2012 INVESTOR PRESENTATION – Gulfport Energy Corp. – slide 23
    Grizzly Overview Large land and resource base Over 800,000 net acres in Athabasca and Peace River regions (nearly all 100% working interest) 67 million bbls of proved reserves, 47 million bbls of probable reserves, and approximately…
  24. MARCH 2012 INVESTOR PRESENTATION – Gulfport Energy Corp. – slide 24
    Grizzly Reserves & Resources Algar Lake Reserves and Resources Proved Reserves Probable Reserves 2% 1% 1% Contingent Resources 6% 26% May River Contingent Resources Clastics Contingent Resources Carbonates Contingent…
  25. MARCH 2012 INVESTOR PRESENTATION – Gulfport Energy Corp. – slide 25
    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 (…
  26. MARCH 2012 INVESTOR PRESENTATION – Gulfport Energy Corp. – slide 26
    Grizzly Algar Lake: Construction Update Road and Infrastructure Algar Lake plant site cleared All-weather road and river crossing under construction All- weather road to Algar Lake Grizzly Field Camp 27 Note: Gulfport…
  27. MARCH 2012 INVESTOR PRESENTATION – Gulfport Energy Corp. – slide 27
    Grizzly Algar Lake: Construction Update Well Pair Drilling Precision SAGD well-pair drilling to begin in 2Q2012 Drilling Rig 188 top-drive rig can be operated by only 2 people Precision Drilling Rig 188 equipment being staged…
  28. MARCH 2012 INVESTOR PRESENTATION – Gulfport Energy Corp. – slide 28
    Grizzly Algar Lake: Construction Update Module Fabrication ARMs module Fabrication underway Components awaiting ARMs plant module shell installation in ARMs module 1 of 26 Stainless steel evaporator tank 29 Note:…
  29. MARCH 2012 INVESTOR PRESENTATION – Gulfport Energy Corp. – slide 29
    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…
  30. MARCH 2012 INVESTOR PRESENTATION – Gulfport Energy Corp. – slide 30
    Grizzly Algar Lake: Phase 1 Netback 2014 Operating Netback (1) (/bbl) 102.04 (20.72) (1.25) (3.50) 10,00 (13.92) 0+ 62.65 (4.25) (11.17) (5.32) (1.00) 40.91 Oil (WTI) LLB Disc. Dilbit Dilbit Cost of Bitumen Crown…
  31. MARCH 2012 INVESTOR PRESENTATION – Gulfport Energy Corp. – slide 31
    Grizzly May River Acquisition Grizzly Oil Sands ULC (Grizzly), a company in which Gulfport Energy Corporation (NASDAQ: CENOVUS / COP STATOIL PTTEP LEISMER GPOR) holds an approximate 25% interest, has KAI KOS DEHSEH (LEISMER) closed…
  32. MARCH 2012 INVESTOR PRESENTATION – Gulfport Energy Corp. – slide 32
    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…
  33. MARCH 2012 INVESTOR PRESENTATION – Gulfport Energy Corp. – slide 33
    Grizzly May River: High Quality Resource MEG Statoil/PTTEP Kai Kos Dehseh THORNBURY 10,000 bbls/d Current Prod. 200,000 bbls/d Peak Prod. NEXEN / OPTI CENOVUS / COP STATOIL PTTEP LEISMER LEISMER KAI KOS DEHSEH (LEISMER) Nexen/OPTI…
  34. MARCH 2012 INVESTOR PRESENTATION – Gulfport Energy Corp. – slide 34
    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…
  35. MARCH 2012 INVESTOR PRESENTATION – Gulfport Energy Corp. – slide 35
    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…
  36. MARCH 2012 INVESTOR PRESENTATION – Gulfport Energy Corp. – slide 36
    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…
  37. MARCH 2012 INVESTOR PRESENTATION – Gulfport Energy Corp. – slide 37
    Grizzly Algar Lake: Capital Spending Estimated Cost (mm) Phase 1 Phase 2 Total Engineering & Equipment 53 50 103 Fabrication & Construction 81 54 135 SAGD Drilling & Completions 36 34 70 Commissioning & Offsites 28 12 40…
  38. MARCH 2012 INVESTOR PRESENTATION – Gulfport Energy Corp. – slide 38
    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 Teck SilverBirch 50% of…
  39. MARCH 2012 INVESTOR PRESENTATION – Gulfport Energy Corp. – slide 39
    Appendix 41
  40. MARCH 2012 INVESTOR PRESENTATION – Gulfport Energy Corp. – slide 40
    Gulfport Hedged Production Gulfport Energy Corporation Gulfport Energy Corporation Brent Fixed Price Swaps Brent Fixed Price Swaps 2012E 2013E Month Weighted Average Daily Price Barrels Per Day Month Weighted Average Daily Price…
  41. MARCH 2012 INVESTOR PRESENTATION – Gulfport Energy Corp. – slide 41
    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 EBITDAX 136.0 55.8 89.7 172.7 Interest Expense 4.8 2.3 2.8 1.4 Net income…
  42. MARCH 2012 INVESTOR PRESENTATION – Gulfport Energy Corp. – slide 42
    Proved Reserve Summary Net Reserves as of December 31, 2011 Oil Gas Total PV-10 (MM) (MMBbls) (MMcf) (MBoe) SEC (1) NYMEX Strip (2) Proved Developed Producing 4.70 4.19 5.39 205 213 Proved Developed Non-Producing 2.79 1.96 3.12 133…
  43. MARCH 2012 INVESTOR PRESENTATION – Gulfport Energy Corp. – slide 43
    Reserves and Production by Region Proved Reserves 2011 Year End Production 2011 Year End Other Other Permian Basin 3% WCBB 2% 13% 20% Hackberry 10% WCBB 56% Hackberry 29% Permian Basin 67% Proved Reserves 19.37…
  44. MARCH 2012 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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