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JUNE 2012 INVESTOR PRESENTATION – Gulfport Energy Corp.

Gulfport Energy Corp. · Jun 11, 2012 · 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. JUNE 2012 INVESTOR PRESENTATION – Gulfport Energy Corp. – slide 1
    Investor Presentation June 2012
  2. JUNE 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): 1.0…
  3. JUNE 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. JUNE 2012 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. JUNE 2012 INVESTOR PRESENTATION – Gulfport Energy Corp. – slide 5
    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…
  6. JUNE 2012 INVESTOR PRESENTATION – Gulfport Energy Corp. – slide 6
    2012 Gulfport Guidance Year Ending 12/31/2012 2012E E&P CAPEX (in millions) Forecasted Production Oil Equivalent Boe 2,900,000 - 3,100,000 Total = 206 - 221 Million Average Daily Oil Equivalent Midpoint Boepd 7,923 8,470…
  7. JUNE 2012 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. JUNE 2012 INVESTOR PRESENTATION – Gulfport Energy Corp. – slide 8
    Track Record of Growth Annual Production Gulfport has consistently delivered production growth 9,000 8,197 Approximately quadrupled production since 2005 while also increasing crude oil 8,000 component (84% in 2005; 91% in 2011)…
  9. JUNE 2012 INVESTOR PRESENTATION – Gulfport Energy Corp. – slide 9
    Asset Overview 10
  10. JUNE 2012 INVESTOR PRESENTATION – Gulfport Energy Corp. – slide 10
    Utica Shale Overview Utica Shale Summary The Utica Shale has a recoverable potential of 1.3 billion to 5.5 billion barrels of oil and 3.8 to 15.7 trillion cubic feet of natural gas (1) Horizontal drilling, combined with…
  11. JUNE 2012 INVESTOR PRESENTATION – Gulfport Energy Corp. – slide 11
    Utica / Point Pleasant Shale Utica Shale Activity Map Chesapeake Chesapeake East / Shell Asset Overview (1) Por Murvay Thompson 3H Patterson Chesapeake Drilled Chesapeake 6.4 MMcfpd 2013 1HU Chesapeake Hosey Por 6H-X Geatches MAH…
  12. JUNE 2012 INVESTOR PRESENTATION – Gulfport Energy Corp. – slide 12
    Utica / Point Pleasant 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…
  13. JUNE 2012 INVESTOR PRESENTATION – Gulfport Energy Corp. – slide 13
    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…
  14. JUNE 2012 INVESTOR PRESENTATION – Gulfport Energy Corp. – slide 14
    Wolfberry Acreage Asset Overview (1) Net proved reserves of 12.88 MMBoe 252 gross PUD locations Net probable reserves of 10.94 MMBoe 281 gross probable locations Net possible reserves of 2.35 MMBoe 64 gross possible locations…
  15. JUNE 2012 INVESTOR PRESENTATION – Gulfport Energy Corp. – slide 15
    Horizontal Upside in the Midland Basin Plan of action Devon Wolfcamp Monitor industry horizontal activity Delineate potential horizontal targets Reliance Atoka Determine areal extent Selective completion tests in vertical…
  16. JUNE 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 2,528 Boepd Net probable reserves of 0.25 MMBoe 36% of Gulfports total net production 6 gross PUD locations Proprietary 42…
  17. JUNE 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 one rig at WCBB Net probable reserves of 10.37 MMBoe Plan to drill 22 to 24 wells and perform…
  18. JUNE 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 well Gulfport continues to pursue attractive acreage positioning acquisition opportunities Application of modern hydraulic…
  19. JUNE 2012 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. JUNE 2012 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. JUNE 2012 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 (…
  22. JUNE 2012 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. JUNE 2012 INVESTOR PRESENTATION – Gulfport Energy Corp. – slide 23
    Grizzly May River Acquisition Grizzly has closed the acquisition of the MEG Statoil/PTTEP Kai Kos Dehseh THORNBURY 10,000 bbls/d Current Prod. May River property from Petrobank 200,000 bbls/d Peak Prod. CENOVUS / COP NEXEN / OPTI…
  24. JUNE 2012 INVESTOR PRESENTATION – Gulfport Energy Corp. – slide 24
    Appendix A 25
  25. JUNE 2012 INVESTOR PRESENTATION – Gulfport Energy Corp. – slide 25
    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…
  26. JUNE 2012 INVESTOR PRESENTATION – Gulfport Energy Corp. – slide 26
    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…
  27. JUNE 2012 INVESTOR PRESENTATION – Gulfport Energy Corp. – slide 27
    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…
  28. JUNE 2012 INVESTOR PRESENTATION – Gulfport Energy Corp. – slide 28
    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…
  29. JUNE 2012 INVESTOR PRESENTATION – Gulfport Energy Corp. – slide 29
    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…
  30. JUNE 2012 INVESTOR PRESENTATION – Gulfport Energy Corp. – slide 30
    Thailand Gulfport owns interests in four onshore concession blocks in Thailand Sin Phu Horm gas field in block 15/43 produced 74 MMcf per day of natural gas and 345 barrels per day of condensate in 1Q12 Gulfport owns 0.7% In…
  31. JUNE 2012 INVESTOR PRESENTATION – Gulfport Energy Corp. – slide 31
    Appendix B Grizzly Update 32
  32. JUNE 2012 INVESTOR PRESENTATION – Gulfport Energy Corp. – slide 32
    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…
  33. JUNE 2012 INVESTOR PRESENTATION – Gulfport Energy Corp. – slide 33
    Grizzly Algar Lake: Construction Update Road and Infrastructure All-weather road and river crossing During construction After construction Algar Lake plant site cleared All- weather road to Algar Lake Grizzly Field Camp 34…
  34. JUNE 2012 INVESTOR PRESENTATION – Gulfport Energy Corp. – slide 34
    Grizzly Algar Lake: Construction Update Well Pair Drilling Precision Drilling Rig 188 slant rig Precision Drilling Rig on-site at Algar Lake 188 top-drive rig can be operated by only 2 people Precision Drilling Rig 188 slant…
  35. JUNE 2012 INVESTOR PRESENTATION – Gulfport Energy Corp. – slide 35
    Grizzly Algar Lake: Construction Update Module Fabrication ARMs module fabrication underway ARMs module fabrication underway ARMs module fabrication underway Stainless steel evaporator tank ARMs module fabrication underway…
  36. JUNE 2012 INVESTOR PRESENTATION – Gulfport Energy Corp. – slide 36
    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…
  37. JUNE 2012 INVESTOR PRESENTATION – Gulfport Energy Corp. – slide 37
    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…
  38. JUNE 2012 INVESTOR PRESENTATION – Gulfport Energy Corp. – slide 38
    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…
  39. JUNE 2012 INVESTOR PRESENTATION – Gulfport Energy Corp. – slide 39
    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…
  40. JUNE 2012 INVESTOR PRESENTATION – Gulfport Energy Corp. – slide 40
    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…
  41. JUNE 2012 INVESTOR PRESENTATION – Gulfport Energy Corp. – slide 41
    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…
  42. JUNE 2012 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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