Skip to main content JOHNSON RICE 3RD ANNUAL ENERGY CONFERENCE – Gastar Exploration, Ltd. Investor Presentation | Shale Experts
Loading...
Database
Slide Database

JOHNSON RICE 3RD ANNUAL ENERGY CONFERENCE – Gastar Exploration, Ltd.

Gastar Exploration, Ltd. · Oct 4, 2011 · 26 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. JOHNSON RICE 3RD ANNUAL ENERGY CONFERENCE – Gastar Exploration, Ltd. – slide 1
    Gastar Exploration Ltd Ltd. NYSE Amex: GST & GST.PRA J. Russell Porter, President & CEO
  2. JOHNSON RICE 3RD ANNUAL ENERGY CONFERENCE – Gastar Exploration, Ltd. – slide 2
    Key Investment Considerations Two core areas Marcellus Shale Development program underway with positive early results 74,200 net acres provides scale Atinum JV provides funds East Texas Legacy Bossier position Possible…
  3. JOHNSON RICE 3RD ANNUAL ENERGY CONFERENCE – Gastar Exploration, Ltd. – slide 3
    Gastar Overview Our assets provide significant exploitation opportunities and long-term growth potential Exchange c a ge / Ticker: c e NYSE S AMEX: GST GS Share Price(1): 4.15/share Shares Outstanding: 64.8 million Market…
  4. JOHNSON RICE 3RD ANNUAL ENERGY CONFERENCE – Gastar Exploration, Ltd. – slide 4
    Asset Discussion 5
  5. JOHNSON RICE 3RD ANNUAL ENERGY CONFERENCE – Gastar Exploration, Ltd. – slide 5
    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…
  6. JOHNSON RICE 3RD ANNUAL ENERGY CONFERENCE – Gastar Exploration, Ltd. – slide 6
    Marcellus Shale Overview 74,200 net acres with Marcellus exposure Three rigs operating in the Marcellus Marshall & Wetzel 6,700 net acres (13,400 JV net acres) Atinum JV partner Focus of initial development program Ultra rich gas…
  7. JOHNSON RICE 3RD ANNUAL ENERGY CONFERENCE – Gastar Exploration, Ltd. – slide 7
    Marshall & Wetzel 6 700 net acres (13 6,700 (13,400 400 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)…
  8. JOHNSON RICE 3RD ANNUAL ENERGY CONFERENCE – Gastar Exploration, Ltd. – slide 8
    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 9
  9. JOHNSON RICE 3RD ANNUAL ENERGY CONFERENCE – 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 Hendrickson Pad Wengerd Pad 10
  10. JOHNSON RICE 3RD ANNUAL ENERGY CONFERENCE – Gastar Exploration, Ltd. – slide 10
    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…
  11. JOHNSON RICE 3RD ANNUAL ENERGY CONFERENCE – Gastar Exploration, Ltd. – slide 11
    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…
  12. JOHNSON RICE 3RD ANNUAL ENERGY CONFERENCE – Gastar Exploration, Ltd. – slide 12
    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…
  13. JOHNSON RICE 3RD ANNUAL ENERGY CONFERENCE – Gastar Exploration, Ltd. – slide 13
    Pennsylvania 10 200 net acres (20 10,200 (20,400 400 JV net acres) Butler County 2,700 net acres (5,400 JV net acres) Btu rich gas Rex Energy operator Drilling 7 wells, expect 3 wells to be completed by year end Fayette &…
  14. JOHNSON RICE 3RD ANNUAL ENERGY CONFERENCE – Gastar Exploration, Ltd. – slide 14
    Marcellus East 57 300 net acres 57,300 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…
  15. JOHNSON RICE 3RD ANNUAL ENERGY CONFERENCE – Gastar Exploration, Ltd. – slide 15
    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…
  16. JOHNSON RICE 3RD ANNUAL ENERGY CONFERENCE – Gastar Exploration, Ltd. – slide 16
    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…
  17. JOHNSON RICE 3RD ANNUAL ENERGY CONFERENCE – Gastar Exploration, Ltd. – slide 17
    GST Acreage within Eagle Ford Oil Window 18
  18. JOHNSON RICE 3RD ANNUAL ENERGY CONFERENCE – Gastar Exploration, Ltd. – slide 18
    Eagle Ford / Woodbine Possible Locations 160 AC Horizontal Drilling Location Map EnCana Eagle Ford Well Permitted EnCana Horizontal Bossier well 3 miles SW. Cumm 1.4 Bcf in 120 days 19
  19. JOHNSON RICE 3RD ANNUAL ENERGY CONFERENCE – Gastar Exploration, Ltd. – slide 19
    Financial Overview 20
  20. JOHNSON RICE 3RD ANNUAL ENERGY CONFERENCE – Gastar Exploration, Ltd. – slide 20
    Financial Overview Production Revenue & Pricing (MMcfe/d) Texas Other US ( in millions) Revenues Price 6.66 (/Mcfe) 30 80 7 5.68 5.22 6 4 4.97 60 4.37 4.12 5 20 6 2 2 4 5 40 3 5 22 57 10 19 19 2 17 20 41 13 35 32…
  21. JOHNSON RICE 3RD ANNUAL ENERGY CONFERENCE – Gastar Exploration, Ltd. – slide 21
    Condensed Consolidated Balance Sheet June 30, 2011 ( in millions) ASSETS Cash and cash equivalents 5.5 Other current assets 16.7 Total current assets 22.2 Total property property, plant and equipment, equipment net 249.9 249…
  22. JOHNSON RICE 3RD ANNUAL ENERGY CONFERENCE – Gastar Exploration, Ltd. – slide 22
    Drilling Program 2011 Capital Expenditures Allocation ( in millions) 2011 Drilling Program Project Area Operator Gross Net Net Capital (MM) Capitalized Costs(3) Bossier GST 2.0 1.3 15.4 2.2 Bossier Glen Rose - Oil GST 2.0 2.0…
  23. JOHNSON RICE 3RD ANNUAL ENERGY CONFERENCE – Gastar Exploration, Ltd. – slide 23
    Hedging Overview Hedging Summary July 27, 2011 Average Total of Base Settlement Derivative Daily Notional Fixed Floor Short Ceiling Period Instrument Volume Volume Price (Long) Put (Short) (in MMBtu's) Jul - Dec '11 Put…
  24. JOHNSON RICE 3RD ANNUAL ENERGY CONFERENCE – Gastar Exploration, Ltd. – slide 24
    Summary 25
  25. JOHNSON RICE 3RD ANNUAL ENERGY CONFERENCE – Gastar Exploration, Ltd. – slide 25
    Key Investment Considerations Two core areas Marcellus Shale Development program underway with positive early results 74,200 net acres provides scale Atinum JV provides funds East Texas Legacy Bossier position Possible…
  26. JOHNSON RICE 3RD ANNUAL ENERGY CONFERENCE – Gastar Exploration, Ltd. – slide 26
    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 27

From the store

Browse maps, data & reports in the Shale Experts store