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IPAA Oil and Gas Investment Symposium – Gmx Resources Inc.

Gmx Resources Inc. · Apr 14, 2010 · 22 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. IPAA Oil and Gas Investment Symposium – Gmx Resources Inc. – slide 1
    Conquering the Bear NYSE listed company Conquering the Bear Haynesville/Bossier Horizontal Shale Producer IPAA Oil & Gas Investment Symposium New York, NY April 14, 2010
  2. IPAA Oil and Gas Investment Symposium – Gmx Resources Inc. – slide 2
    Conquering the Bear Company Snapshot Market Cap (4/07/2009): 249 Million Plus : Preferred Equity 50 Million Plus : Total Debt (12/31/2009): 213 Million Equals : Enterprise Value: 508 Million Proved Reserves (12/31/2009): 355…
  3. IPAA Oil and Gas Investment Symposium – Gmx Resources Inc. – slide 3
    Conquering the Bear Company Overview East Texas Haynesville Bossier & Cotton Valley Sand Operates 85% of 42,400 net Haynesville/Bossier H/B acres 276 additional net potential H/B Hz drilling locations in Capital Core (16 H/B…
  4. IPAA Oil and Gas Investment Symposium – Gmx Resources Inc. – slide 4
    Conquering the Bear US Horizontal Rig Count US Horizontal Rig Count by Region 300 800 700 250 600 200 500 150 400 300 100 200 50 Northeast 100 0 0 Q1'07 Q2'07 Q3'07 Q4'07 Q1'08 Q2'08 Q3'08 Q4'08 Q1'09…
  5. IPAA Oil and Gas Investment Symposium – Gmx Resources Inc. – slide 5
    Conquering the Bear Wells in Western Capital Core Continue to Grow Multiple Operators are making good wells in the Western Capital Core Texas -- Louisiana Mia Austin 1H Harrison 0.347 Bcfe in 52 days Caddo Excellent wells on both…
  6. IPAA Oil and Gas Investment Symposium – Gmx Resources Inc. – slide 6
    Conquering the Bear How GMXR Makes the Haynesville Work - Details Matter GMXR Other Operators Leases are mostly surface to center of earth Paid up to 30,000 / acre in spring 2008 to and were acquired prior to the land rush of buy…
  7. IPAA Oil and Gas Investment Symposium – Gmx Resources Inc. – slide 7
    Conquering the Bear 2010-2012 Financial Strategy Three Rig Drilling Program Grows Production at a 3 Year CAGR of 37% Maintains Adequate Liquidity Available liquidity is 165 Million at December 31, 2009 35 Million Cash to GMXR…
  8. IPAA Oil and Gas Investment Symposium – Gmx Resources Inc. – slide 8
    Conquering the Bear Cash Flow Protection Strategy Actively manage to reduce price risk 2010-2012 Current Price Protection Natural Gas Maintain target of 60% - 80% of 3 year natural gas 35 production protected Weighted Average…
  9. IPAA Oil and Gas Investment Symposium – Gmx Resources Inc. – slide 9
    Conquering the Bear Hedging Impact Summary Due to our Low Cost Structure and Hedges, Achieved Sales Price & Cash Cost Metrics 7.00 We Make Money Even if NYMEX is 3.00 for 6.50 2010-2012. 6.00 Completed Well Costs of 5.50 1.92…
  10. IPAA Oil and Gas Investment Symposium – Gmx Resources Inc. – slide 10
    Conquering the Bear Operating Metrics Operating Annual Production(1) Cash Flow (MM) (1) Bcfe 200 35 180 30 160 140 25 120 20 100 15 80 60 10 Operating Cash Flow 40 Available Liquidity at Year End, Net of…
  11. IPAA Oil and Gas Investment Symposium – Gmx Resources Inc. – slide 11
    Conquering the Bear 3 Rig Program Delivers High Growth Capex PDP Reserves (MM) At Year End(2) Bcfe 205 140 400 200 120 200 200 350 195 300 100 190 250 185 80 200 180 60 178 150 175 40 175 100 170 22 23 24 20 17…
  12. IPAA Oil and Gas Investment Symposium – Gmx Resources Inc. – slide 12
    Conquering the Bear H/B Hz Attractive Well Economics at Current Prices Single Well Illustrative - 5.32 Gross EUR 3.00 Flat + 4.00 Flat + 5.00 Flat + 6.00 Flat + 10 Year Strip + 10 Year Strip Hedges Hedges Hedges Hedges Hedges…
  13. IPAA Oil and Gas Investment Symposium – Gmx Resources Inc. – slide 13
    Conquering the Bear Well Economics Expected to Improve in 2010 Target 7.5 - 8.0 Million CWC with 5 Casing Addition of seasoned H/B focused engineers reduces learning costs - Over 200 H/B Shale wells over past 3 years - Additional…
  14. IPAA Oil and Gas Investment Symposium – Gmx Resources Inc. – slide 14
    Conquering the Bear 2010 H/B Hz Well Results First 30 Day Spud to Lateral Well Name Spud Date TD Date First Flow Date Frac Stages Casing Size I.P. Avg Flow, TD Days Length MCF Verhalen E 1H 17-Nov-09 17-Dec-09 30 14-Feb-10…
  15. IPAA Oil and Gas Investment Symposium – Gmx Resources Inc. – slide 15
    Conquering the Bear GMXR PDP Reserves & Potential 2010-2012 Forecast 12/31/2009 12/31/2012 PDP Reserves = 136 Bcfe(1) PDP Reserves = 361 Bcfe 3 Year PDP Forecast H/B 64 New Haynesville Horizontal Wells Drilled 26 Bcfe CVS/TP - 26…
  16. IPAA Oil and Gas Investment Symposium – Gmx Resources Inc. – slide 16
    Conquering the Bear GMXR Delivers on its Targets Targets Actual Results Continual 2009 Theme: Actively protect 2.76 of 2009 Sales Price from Hedges production with revenue floors 13.3 Bcfe of 2010 Prod. has Rev Floor of 6.43…
  17. IPAA Oil and Gas Investment Symposium – Gmx Resources Inc. – slide 17
    Conquering the Bear GMXRs Economic Growth Is Ramping Up Contiguous position in Capital Core area Haynesville/Bossier Shale and Cotton Valley Sands Lower costs = More favorable economics Reduction in drilling days and costs Spud…
  18. IPAA Oil and Gas Investment Symposium – Gmx Resources Inc. – slide 18
    Conquering the Bear Appendix NYSE listed company NYSE listed company
  19. IPAA Oil and Gas Investment Symposium – Gmx Resources Inc. – slide 19
    Conquering the Bear Non-GAAP Reconciliations Discretionary Cash Flow Discretionary cash flow represents cash provided by operating activities before changes in assets and liabilities less preferred dividends. Discretionary cash flow…
  20. IPAA Oil and Gas Investment Symposium – Gmx Resources Inc. – slide 20
    Conquering the Bear Non-GAAP Reconciliations EBITDA EBITDA represents earnings before interest, taxes, depletion, depreciation & amortization. EBITDA is presented as a supplemental financial measurement in the evaluation of our…
  21. IPAA Oil and Gas Investment Symposium – Gmx Resources Inc. – slide 21
    Conquering the Bear Contango Market Provides Revenue Protection Projected Average Natural Gas Price Contango market 9.0 8 Year allows GMXR to lock- Strip 2013- 8.5 2020 is 7.17 8.0 in prices that protect GMXR Est. Realized…
  22. IPAA Oil and Gas Investment Symposium – Gmx Resources Inc. – slide 22
    Conquering the Bear Company Representatives Attending IPAA Michael Rohleder, President Phone : (405) 254-5838 ; Email : mrohledergmxresources.com Jim Merrill, Chief Financial Officer Phone : (405) 254-5805 ; Email :…

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