Investment Highlights Strong, Well Capitalized Balance Sheet Proven Management Team Significant cash balance Operational excellence Common equity Four prior successful public entities Traditional reserve-based credit facility Repeat…
Strategic Combination on December 19, 2014 1.754mm shares (12.6%) 9.124mm shares (66.0%) 2.957mm shares (21.4%) EnCap 37.8% Wells Fargo 6.1% Vlasic 4.9% Earthstone closed two transformational transactions, creating a…
Oak Valley Resources, LLC owns 66.0% of Earthstone. Oak Valleys investors include: Earthstone Management EnCap Investments L.P. Significant equity investors Leading provider of private equity to the independent E&P sector CEO has over…
Management Strong management and technical team with demonstrated ability and prior success Equity investorsinterests are clearly aligned with shareholders Years Years of Working Responsibility Experience Together Frank Lodzinski…
Track Record Management team has consistently created shareholder value Repeated success with multiple entities over 20+ years 2005 2007 Southern Bay Energy, LLC Results have created long-term and recurring shareholders (Private)…
GeoResources Performance Summary Stock Performance (%) Proved Reserve Growth (MMBoe)(1) Merger with Southern Bay to Sale Announcement 40.0 35.9 40.0 CAGR = 57% Initial Investors: 29.2 IRR = 35% 30.0 30.0 Return on Capital = 4.8x…
Go-Forward Strategy Utilize similar strategy to previous entities which delivered significant returns to shareholders Asset Strategy Corporate Strategy Optimize Existing Properties Deliver superior returns to shareholders Implement…
Near-Term Goals M&A / A&D Execution Grow Eagle Ford position and complimentary assets M&A / A&D Acquire another core drilling area; focus areas included Bakken, Rockies, and West Texas Portfolio rationalization consider divesting…
Company Overview Proved Reserves (MMBoe)(1) Proven, growth-oriented management team 30.0 80% Oil-weighted with strong cash margins 71% 2-yr CAGR = 193% 65% Focused on the prolific Eagle Ford and Bakken 25.0 22.2 Robust liquidity…
Reserve Summary 2013 and 2014 SEC Price Deck 2013 2014 Reserves Economics Reserves Economics Oil Gas NGL Total Undisc. CF PV-10 Oil Gas NGL Total Undisc. CF PV-10 Category (MBbls) (MMcf) (MBbls) (MBoe) (mm) (mm) Category (MBbls)…
Asset Overview 12
Southern Region Le Flore County: Conventional and 13,900 net acres; 34 PDP unconventional assets wells in Red Oak Field Eagle Ford / Grayson County: Austin Chalk Oklahoma 1,200 net acres prospective for horizontal Viola play 2 PDP…
Eagle Ford Summary Fayette, Gonzales, and Karnes Counties 49,275 gross / 24,500 net leasehold acres Working interests range from 33% to 50% 60 gross producing wells (58 operated / 2 non- op) Average gross operated May 2015…
Eagle Ford / Basal Austin Chalk Interval Across the Acreage Stratigraphic Column of Fayette and Gonzales Counties Illustrative Geologic Targets, Depths & Log Productive Approximate Depth Log Zones Range System Series Formation…
The Eagleville Interval Eagle Ford Carbonate + Austin Chalk Eagleville Interval Overall Interval 100 feet thick Eagle Ford Carbonate thickens to the southwest Basal Austin Chalk / Upper Eagle Ford thickest to the east / northeast…
Operated Eagle Ford and Upper Austin Chalk D&C Activity Eagle Ford Brought 21 gross wells on line in 2014 Brought 9 gross wells on line in Q2 2015 and 10 gross wells expected to come on line in H2 2015 500 to 750 foot spacing between…
Eagle Ford Drilling and Completion Trends and Economics Pad Averages Feet Drilled per Day Drilling CAPEX per Foot Drilled (/Foot) 1,200 300 1,077 1,086 269 1,000 957 894 250 221 796 820 200 800 200 187 177 171 625 159…
Recent Eagle Ford Acquisitions Karnes and Gonzales Counties Operated Karnes County 404 gross / 121 net leasehold acres Gonzales Working interest of 33% County Pending certain acreage trades, position will allow for four gross…
Northern Region Williston Basin Summary Near-Term Strategy 98 gross / 7 net wells producing Expand acreage Average working interest of 3% Acquire production 60 gross wells currently being drilled or completed Establish operating…
Capital Expenditures and Financial Overview 21
2015 Capital Expenditure Budget Current Budget(1) D&C Spend by Area Gross Well Count Drilling and Completion mm Drilled Completed Operated Eagle Ford 55.0 12 19 Fayette / Gonzales / Karnes Counties 15% Non-Operated Bakken 12.0 34…
Hedging Summary Full Year 2015 Oil and Gas Production Hedged Full Year 2016 Oil and Gas Production Hedged Avg. hedged oil price = 69.41/Bbl Avg. hedged oil price = 59.65/Bbl 29% of oil production guidance hedged Avg. hedged gas price…
Contact Information Frank Lodzinski President and CEO Robert Anderson EVP, Corporate Development and Engineering Neil Cohen VP, Finance, and Treasurer Corporate Headquarters Houston 1400 Woodloch Forest Drive Suite 300 The…
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