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Q3 2013 INVESTOR PRESENTATION – Gulfport Energy Corp.

Gulfport Energy Corp. · Nov 5, 2013 · 42 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. Q3 2013 INVESTOR PRESENTATION – Gulfport Energy Corp. – slide 1
    Investor Presentation November 2013
  2. Q3 2013 INVESTOR PRESENTATION – Gulfport Energy Corp. – slide 2
    Gulfport Today Company Overview Primary Areas of Operation(1) Grizzly(4) Ticker: Acreage: 200,054 Net Acres Proved Reserves: 16.75 Net MMBbl Probable Reserves: 17.75 Net MMBbl Contingent Resource: 765 Net MMBbl Market Cap(2): 4.7…
  3. Q3 2013 INVESTOR PRESENTATION – Gulfport Energy Corp. – slide 3
    Overview of Gulfport Gulfport Energy Corporation (GPOR) is an independent E&P company based in Oklahoma City, OK Company born from legacy assets in South Louisiana Free cash flow from legacy assets facilitated expansion into North…
  4. Q3 2013 INVESTOR PRESENTATION – Gulfport Energy Corp. – slide 4
    Key Investment Highlights Most levered to the core of the Utica Shale of eastern Ohio with approximately 147,350 net acres under lease today Acreage in one of the most promising up-and-coming plays in North America Actively drilling…
  5. Q3 2013 INVESTOR PRESENTATION – Gulfport Energy Corp. – slide 5
    Third Quarter 2013 Highlights Highlights Third Quarter 2013 Production Growth Consistent production growth Total company production grew 82% during the third quarter over the third quarter of 2012 7.20 Utica Shale production…
  6. Q3 2013 INVESTOR PRESENTATION – Gulfport Energy Corp. – slide 6
    Large Captured Liquids Resource Base Large exploitable liquids-rich resource base of 847 net MMBoe + significant upside (1) 765.00 (5) Proved pre-tax PV 10 = 437 million (2) MMBoe Utica Oil Sands Niobrara Thailand Oil Sands…
  7. Q3 2013 INVESTOR PRESENTATION – Gulfport Energy Corp. – slide 7
    Attractive Cash Margins High revenue per barrel of production due to liquids weighted production Crude oil from South Louisiana enjoys attractive premium for Louisiana sweet crude Results in free cash flow that is being redeployed…
  8. Q3 2013 INVESTOR PRESENTATION – Gulfport Energy Corp. – slide 8
    Asset Overview 10
  9. Q3 2013 INVESTOR PRESENTATION – Gulfport Energy Corp. – slide 9
    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…
  10. Q3 2013 INVESTOR PRESENTATION – Gulfport Energy Corp. – slide 10
    Utica Shale Overview Asset Overview Net proved reserves of 6.59 MMBoe (1) Net probable reserves of 18.18 MMBoe (1) 157,000 gross (147,350 net) acres (2) Focused within the wet gas/retrograde condensate and mature oil windows of…
  11. Q3 2013 INVESTOR PRESENTATION – Gulfport Energy Corp. – slide 11
    Utica Shale Activity Map Chesapeake Chesapeake Gulfport Energy Stuart Henderson 1H Henderson South 5H Chesapeake BK Stephens 16H Pad Peak rate 1.9 Mmcfpd + 100 Bpd Peak rate 3.8 Mmcfpd + 240 Bpd Gulfport Energy Gulfport Energy…
  12. Q3 2013 INVESTOR PRESENTATION – Gulfport Energy Corp. – slide 12
    Utica Shale Wet Gas Type Curve Wet Gas Type Curve (1st 36 Months) (1) Classifications Gross EURs Total EUR (MMBoe) (1) 3.1 3.9 1 201 401 601 801 1001 10,000 Total EUR (Bcfe) (1) 18.2 23.6 % Liquids (1) 46% Lateral Length (ft):…
  13. Q3 2013 INVESTOR PRESENTATION – Gulfport Energy Corp. – slide 13
    Utica Shale Condensate Type Curve Condensate Type Curve (1st 36 Months) (1) Classifications Gross EURs 1 201 401 601 801 1001 Total EUR (MMBoe) (1) 1.0 1.5 10,000 Total EUR (Bcfe) (1) 6.4 9.2 % Liquids (1) 66% Lateral Length…
  14. Q3 2013 INVESTOR PRESENTATION – Gulfport Energy Corp. – slide 14
    Utica Shale Midstream Crawford Hopedale Fractionator Cadiz Complex C3+ Fractionation - 60,000 Bbl/d 1Q14 Interim Refrigeration 65 MMcf/d Complete Cadiz I 120 MMcf/d Complete Venango Cadiz II 200 MMcf/d 3Q14 Trumbull Mercer…
  15. Q3 2013 INVESTOR PRESENTATION – Gulfport Energy Corp. – slide 15
    Utica Shale - Fully Integrated Midstream Platform Takeaway Options Abundant Takeaway and Processing Options Increasing Takeaway with Infrastructure Cadiz Processing Approximately 1 Bcf per day of gas expected to be moving west out…
  16. Q3 2013 INVESTOR PRESENTATION – Gulfport Energy Corp. – slide 16
    Utica Shale Rice Energy Joint Development Agreement Highlights Acreage Map In October 2013, Gulfport and Rice Energy entered into a Joint Development Agreement covering four townships in the core of the Utica Shale in Belmont County…
  17. Q3 2013 INVESTOR PRESENTATION – Gulfport Energy Corp. – slide 17
    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…
  18. Q3 2013 INVESTOR PRESENTATION – Gulfport Energy Corp. – slide 18
    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…
  19. Q3 2013 INVESTOR PRESENTATION – Gulfport Energy Corp. – slide 19
    Algar Lake: 10,000 to 12,000+ bbls/day 100% W.I. in 56,960 contiguous acres Regulatory approved for 11,300 bbls/d 81 cored delineation wells & 21 km2 3-D seismic 10 km northwest of the JACOS Hangingstone SAGD project ( 6,100…
  20. Q3 2013 INVESTOR PRESENTATION – Gulfport Energy Corp. – slide 20
    Algar Lake: Construction Update Well Pad Evaporator Tower & Construction Office / Phase 2 Site Central Processing Facility Tank Farm 22 Note: Gulfport Energy Corporation owns 24.9% of Grizzly Oil Sands ULC
  21. Q3 2013 INVESTOR PRESENTATION – Gulfport Energy Corp. – slide 21
    Hackberry Asset Overview (1) 2013 Activities Update (2) Net proved reserves of 2.15 MMBoe Currently running one drilling rig 11 gross PUD locations Land rig drilling at East Hackberry Net probable reserves of 0.28 MMBoe Average net…
  22. Q3 2013 INVESTOR PRESENTATION – Gulfport Energy Corp. – slide 22
    West Cote Blanche Bay Asset Overview (1) 2014 Planned Activities (3) Net proved reserves of 4.82 MMBoe Plan to drill 22 to 24 wells 36 gross PUD locations and hundreds of other CAPEX: 42 45 million potential un-booked locations Net…
  23. Q3 2013 INVESTOR PRESENTATION – Gulfport Energy Corp. – slide 23
    Diamondback Energy Gulfport has interest in a position in the Permian Basin in West Texas by way of a 12.1% interest in Diamondback Energy, Inc. (NASDAQ: FANG) Diamondback Energy Summary (1) Oil-focused operator in the Permian…
  24. Q3 2013 INVESTOR PRESENTATION – Gulfport Energy Corp. – slide 24
    Appendix A Utica Shale 26
  25. Q3 2013 INVESTOR PRESENTATION – Gulfport Energy Corp. – slide 25
    Utica Shale Market Leading Utica Acreage Exposure Gulfports large acreage position in Utica provides higher exposure per share than any C-Corp peers Net acres / Share (000s) 1.90 1.29 0.50 0.47 0.47 0.39 0.39 0.35…
  26. Q3 2013 INVESTOR PRESENTATION – Gulfport Energy Corp. – slide 26
    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…
  27. Q3 2013 INVESTOR PRESENTATION – Gulfport Energy Corp. – slide 27
    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…
  28. Q3 2013 INVESTOR PRESENTATION – Gulfport Energy Corp. – slide 28
    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…
  29. Q3 2013 INVESTOR PRESENTATION – Gulfport Energy Corp. – slide 29
    Utica Shale Condensate Processing Overview Cadiz Gas Hopedale Processing Plant Fractionation Facility Natural Gasoline Markets Y-grade Available for Logistics Blending Canadian Markets Cochin or Southern Lights C4-…
  30. Q3 2013 INVESTOR PRESENTATION – Gulfport Energy Corp. – slide 30
    Utica Shale Condensate to Canadian Diluent Market Diluent demand in Western Canada is real (1) Alberta In 2011, Canadian producers imported 140,000 BPD of condensate diluent (95,000 BPD via pipeline and 55,000 BPD via rail)…
  31. Q3 2013 INVESTOR PRESENTATION – Gulfport Energy Corp. – slide 31
    Appendix B 33
  32. Q3 2013 INVESTOR PRESENTATION – Gulfport Energy Corp. – slide 32
    Vertical Integration Gulfport is focused on controlling costs and quality of third party services through vertical integration Ensuring availability of quality services by investing in and operating key service and supply companies…
  33. Q3 2013 INVESTOR PRESENTATION – Gulfport Energy Corp. – slide 33
    Vertical Integration Control of Costs and Quantity Increased Prices through Control of Takeaway Stingray Energy Services (Utica) Windsor Midstream (Permian) Secures long term gas gathering and takeaway capacity in the Permian Basin…
  34. Q3 2013 INVESTOR PRESENTATION – Gulfport Energy Corp. – slide 34
    Hedged Production Natural Gas: 2013 2014 2015 2016 Natural Gas Fixed Price Swaps Volume (Mcf) 920,000 18,250,000 16,425,000 5,145,000 Weighted Average Price (/Mcf) 4.00 4.06 4.06 4.06 Natural Gas Swaption Volume (Mcf) 3,650,000…
  35. Q3 2013 INVESTOR PRESENTATION – Gulfport Energy Corp. – slide 35
    Historical Cash Margins Year Ended December 31, ( in millions) 2008 2009 2010 2011 2012 Statement of Operations Oil and Natural Gas Sales 141.7 85.6 128.0 229.0 248.6 EBITDA 136.0 55.8 89.7 172.7 191.4 Interest Expense 4.8 2.3 2.8…
  36. Q3 2013 INVESTOR PRESENTATION – Gulfport Energy Corp. – slide 36
    2012 Proved Reserve Summary Net Reserves as of December 31, 2012 Oil Gas Total PV-10 (MM) (MMBbls) (MMcf) (MMBoe) SEC (1) NYMEX Strip (2) Proved Developed Producing 1.88 4.95 2.70 119 121 Proved Developed Non-Producing 3.34 13.53…
  37. Q3 2013 INVESTOR PRESENTATION – Gulfport Energy Corp. – slide 37
    Thailand Gulfport owns interests in three onshore concession blocks in Thailand Sin Phu Horm gas field in block 15/43 produced 62 MMcf per day of natural gas and 282 barrels per day of condensate in 3Q13 Gulfport owns 0.7% In…
  38. Q3 2013 INVESTOR PRESENTATION – Gulfport Energy Corp. – slide 38
    Appendix C Grizzly Oil Sands 40
  39. Q3 2013 INVESTOR PRESENTATION – Gulfport Energy Corp. – slide 39
    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 February…
  40. Q3 2013 INVESTOR PRESENTATION – Gulfport Energy Corp. – slide 40
    Rail Transportation Strategy Grizzly is establishing infrastructure to transport Potential Rail Transportation Routes bitumen via rail, leading to more flexibility to realize consistently higher bitumen values Grizzly is investing in…
  41. Q3 2013 INVESTOR PRESENTATION – Gulfport Energy Corp. – slide 41
    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 Sunshine…
  42. Q3 2013 INVESTOR PRESENTATION – Gulfport Energy Corp. – slide 42
    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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