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FEBRUARY 2002 CORPORATE PRESENTATION – Gastar Exploration, Ltd.

Gastar Exploration, Ltd. · Feb 3, 2012 · 28 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. FEBRUARY 2002 CORPORATE PRESENTATION – Gastar Exploration, Ltd. – slide 1
    Gastar Exploration Ltd Ltd. NYSE Amex: GST & GST.PRA J. Russell Porter, President & CEO
  2. FEBRUARY 2002 CORPORATE PRESENTATION – Gastar Exploration, Ltd. – slide 2
    Key Investment Considerations Two core areas Marcellus Shale D Development l t program underway d with ith positive iti early l results lt 74,400 net acres provides scale Atinum JV provides funds East Texas Legacy…
  3. FEBRUARY 2002 CORPORATE PRESENTATION – Gastar Exploration, Ltd. – slide 3
    Gastar Overview Our assets provide significant exploitation opportunities and long-term growth potential Common Co o Exchange c a ge / Ticker: c e NYSE S AMEX: GST GS Share Price(1): 3.10/share Common Shares Outstanding:…
  4. FEBRUARY 2002 CORPORATE PRESENTATION – Gastar Exploration, Ltd. – slide 4
    GST.PRA Summary Terms GASTAR EXPLORATION USA, INC. SERIES A CUMULATIVE PREFERRED SECURITIES Issuer: Gastar Exploration USA USA, Inc Inc. Symbol: GST.PRA on the NYSE Amex Guarantor: Gastar Exploration Ltd. Securities Offered: Up to…
  5. FEBRUARY 2002 CORPORATE PRESENTATION – Gastar Exploration, Ltd. – slide 5
    Asset Discussion 6
  6. FEBRUARY 2002 CORPORATE PRESENTATION – Gastar Exploration, Ltd. – slide 6
    Highly Leveraged to Marcellus Shale 350 310 300 250 Acres/1< in EV 200 147 150 126 110 100 64 54 53 53 52 48 45 50 50 36 32 31 31 30 25 23 18 17 14 11 7 7 5 GST NFG REXX RRC MHR CHK EQT CRZO PETD PDC…
  7. FEBRUARY 2002 CORPORATE PRESENTATION – Gastar Exploration, Ltd. – slide 7
    Marcellus Shale Overview 74,400 net acres with Marcellus exposure Two rigs operating in the Marcellus Marshall & Wetzel 7,700 net acres (15,300 JV net acres) Atinum JV partner Focus of initial development program Ultra rich gas…
  8. FEBRUARY 2002 CORPORATE PRESENTATION – Gastar Exploration, Ltd. – slide 8
    Marshall & Wetzel 15 15,300 300 joint venture net acres Full development planned and drilling program underway Position characterized by high Btu gas and high condensate yields (30 to 40 bbls/MMcf) Promising preliminary drilling…
  9. FEBRUARY 2002 CORPORATE PRESENTATION – Gastar Exploration, Ltd. – slide 9
    Marshall & Wetzel 6 700 net acres (13 6,700 (13,400 400 joint venture net acres) Simms Pad Corley Pad H di k Hendrickson P Pad d Wengerd Pad 10
  10. FEBRUARY 2002 CORPORATE PRESENTATION – Gastar Exploration, Ltd. – slide 10
    Marshall & Wetzel 6 700 net acres (13 6,700 (13,400 400 joint venture net acres) Simms Pad Corley Pad Hendrickson Pad Wengerd Pad 11
  11. FEBRUARY 2002 CORPORATE PRESENTATION – Gastar Exploration, Ltd. – slide 11
    Event Analysis y Wengerd1H g All stages g Wengerd 1H Map View Color Key Stage 1 Stage 2 Stage 3 Stage 4 Stage 5 Stage 6 Stage 7 Stage g 8 Stage 9 Stage 10 Stage 11 Stage 12 500 Stage 13 Stage 14 Stage 15 Events E t…
  12. FEBRUARY 2002 CORPORATE PRESENTATION – Gastar Exploration, Ltd. – slide 12
    Event Analysis Wengerd7H All stages Wengerd 7H Map View Color Key Stage 1 Stage 2 Stage 3 Stage 4 Stage 5 St Stage 6 Stage 7 Stage 8 Stage g 9 Stage 10 Stage 11 Stage 12 Stage 13 500 Stage 14 Stage 15 Stage 16…
  13. FEBRUARY 2002 CORPORATE PRESENTATION – Gastar Exploration, Ltd. – slide 13
    Event Analysis All Wells-All stages Depth View L ki Looking N North th 100 ft 500 ft Depth view of the well. The grid size is 100 feet in depth Events colored by stage and sized by energy (compressed dynamic range) 2011…
  14. FEBRUARY 2002 CORPORATE PRESENTATION – Gastar Exploration, Ltd. – slide 14
    Corley Pad All Wells All stages Map View Corley 4H Corley 2H Color Key Stage 1 Stage 2 Corley 1H Stage 3 Stage 4 Stage 5 Corley 3H St Stage 6 Stage 7 Stage 9 Stage 8 Stage 10 Stage 11 Stage 12 Stage 13 500 feet…
  15. FEBRUARY 2002 CORPORATE PRESENTATION – Gastar Exploration, Ltd. – slide 15
    Pennsylvania 9 800 net acres (19 9,800 (19,600 600 JV net acres) Butler County 2,450 net acres (4,900 JV net acres) Btu rich gas Rex Energy operator 3 wells completed in 2011 and 4 wells to be completed in 2012 Fayette &…
  16. FEBRUARY 2002 CORPORATE PRESENTATION – Gastar Exploration, Ltd. – slide 16
    Marcellus East 54 500 net acres 54,500 Acquired assets in November 2011 Gastar tested Marcellus potential in two vertical wells prior to exercising option to purchase Tucker/Preston area tested at 1.1 MMCFD from vertical Marcellus…
  17. FEBRUARY 2002 CORPORATE PRESENTATION – Gastar Exploration, Ltd. – slide 17
    East Texas (Bossier) Overview Significant Consolidated Acreage Position Leon 19,400 net acres with 50-67% WI 100% O Operated d Prolific, Deep Bossier Production Individual well IPs 20 MMcfe/day; Strong IRRs Robertson Multiple…
  18. FEBRUARY 2002 CORPORATE PRESENTATION – Gastar Exploration, Ltd. – slide 18
    Deep Bossier Development Plans Hilltop Area East Texas Gastar has successfully implemented development program Lower Bossier Offset Locations Initial GST Deep Bossier well completed in 2004 Successfully drilled 25 out of 27 wells…
  19. FEBRUARY 2002 CORPORATE PRESENTATION – Gastar Exploration, Ltd. – slide 19
    GST Acreage within Eagle Ford Oil Window 20
  20. FEBRUARY 2002 CORPORATE PRESENTATION – Gastar Exploration, Ltd. – slide 20
    Eagle Ford / Woodbine Possible Locations 160 AC Horizontal Drilling Location Map 21
  21. FEBRUARY 2002 CORPORATE PRESENTATION – Gastar Exploration, Ltd. – slide 21
    Financial Overview 22
  22. FEBRUARY 2002 CORPORATE PRESENTATION – Gastar Exploration, Ltd. – slide 22
    Financial Overview Production Texas Other US Revenue & Pricing Revenues Price (MMcfe/d) (/Mcfe) ( in millions) 6.66 30 80 7 5 68 5.68 4 5.22 6 4.98 60 20 6 4.37 5 2 3 4.12 4 5 40 3 10 5 22 57 17 19 18 2 20 41 13 35…
  23. FEBRUARY 2002 CORPORATE PRESENTATION – Gastar Exploration, Ltd. – slide 23
    Condensed Consolidated Balance Sheet September 30, ( in millions) ASSETS Cash and cash equivalents 7.0 Other current assets 22.0 Total current assets 29.0 Total property, plant and equipment, net 266.3 Other assets 6.3 Total…
  24. FEBRUARY 2002 CORPORATE PRESENTATION – Gastar Exploration, Ltd. – slide 24
    Capital Program 2012 Drilling Program Net Project Area Operator Gross Net Capital (MM) Marcellus West GST 20.0 10.0 88.9 2012 Capital Expenditures Allocation New Oil Play Private 3.0 1.5 7.8 ( in millions) Land & Seismic 29.0 R…
  25. FEBRUARY 2002 CORPORATE PRESENTATION – Gastar Exploration, Ltd. – slide 25
    Hedging Overview Hedging Summary December 31, 2011 Average Total of Base Settlement Derivative Daily Notional Fixed Floor Short Call Ceiling Period Instrument Volume Volume Price (Long) Put (Long) (Short) (in MMBtu's) 2012 Put…
  26. FEBRUARY 2002 CORPORATE PRESENTATION – Gastar Exploration, Ltd. – slide 26
    Summary 27
  27. FEBRUARY 2002 CORPORATE PRESENTATION – Gastar Exploration, Ltd. – slide 27
    Key Investment Considerations Two core areas Marcellus Shale D Development l t program underway d with ith positive iti early l results lt 74,400 net acres provides scale Atinum JV provides funds East Texas Legacy…
  28. FEBRUARY 2002 CORPORATE PRESENTATION – Gastar Exploration, Ltd. – slide 28
    Gastar Exploration Ltd. (NYSE Amex: A GST & GST GST.PRA) PRA) Gastar Exploration Ltd. J. Russell Porter CEO Michael Gerlich CFO 1331 Lamar, Suite 650 Houston TX 77010 Houston, (713) 739-1800 29

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