Investor Presentation Imperial Capital Global Opportunities Conference New York, NY September 17, 2015 0
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 Flatonia Energy, LLC Public Shareholders 2.957mm shares 9.124mm shares 1.754mm shares (21.4%) (66.0%) (12.6%) 13.835mm shares NYSE MKT: ESTE Earthstone closed two transformational…
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…
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 include 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 13
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 325 net acres prospective for horizontal Viola play 2 PDP…
Eagle Ford Summary Operated Fayette, Gonzales, and Karnes Counties 50,900 gross / 25,100 net leasehold acres Working interests range from 33% to 50% 60 gross producing wells (58 operated / 2 non- op) July 2015 average gross…
Eagle Ford and Austin Chalk Intervals Across the Acreage Stratigraphic Column S.W. Fayette & N.E. Gonzales Co.s, Texas Formation Frio Vicksburg Jackson Missing / Eroded Yegua-Cockfield Section Weches Queen City Reklaw Carrizo…
Operated Eagle Ford D&C Activity Brought 21 gross wells on line in 2014 Brought 9 gross wells on line in Q2 2015 and 6 gross wells expected to come on line in Q4 2015 500 to 750 foot spacing between wells Offset by Sanchez and Penn…
Eagle Ford Drilling and Completion Trends and Economics Pad Averages Feet Drilled per Day Drilling Capex per Foot Drilled (/Foot) 1,200 250 1,077 1,086 1,078 1,045 221 957 989 974 1,000 200 894 200 187 796 820 177 174 171…
Recent Eagle Ford Acquisitions Karnes and Gonzales Counties Acquired 3,000 gross / 1,170 net acres in Karnes and Southern Gonzales Counties Operational control with 33% to 50% working interest No near-term lease obligations HBP…
Recent Eagle Ford Acquisitions Karnes and Gonzales Counties Month Acquired June 2015 June 2015 August 2015 Total County Karnes Gonzales Gonzales Objective Eagle Ford Eagle Ford Eagle Ford Leasehold Acres: Gross 350 1,010 1,650…
Upper Austin Chalk Naturally Fractured Reservoir July 2015 average gross production of 725 Boepd (92% operated) 8 gross producing wells (7 operated / 1 non-op) 7,880 gross acres held by production Brought 4 gross wells on line in…
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 23
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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