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3Q 2015 Investor Presentation – Gulfport Energy Corp.

Gulfport Energy Corp. · Nov 4, 2015 · 34 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. 3Q 2015 Investor Presentation – Gulfport Energy Corp. – slide 1
    Investor Presentation November 2015
  2. 3Q 2015 Investor Presentation – Gulfport Energy Corp. – slide 2
    Gulfport Today Key Statistics Primary Areas of Operation (3) Market Capitalization(1) 3.3 Billion Enterprise Value (2) 4.1 Billion Utica Shale Acreage: 247,000 Net Acres 2014 Average Daily Production 240.3 MMcfepd Proved Reserves:…
  3. 3Q 2015 Investor Presentation – Gulfport Energy Corp. – slide 3
    Overview of Gulfport Gulfport Energy Corporation (GPOR) is an independent E&P company based in Oklahoma City, OK Company born from legacy assets in South Louisiana Free cash flow from legacy assets facilitated expansion into North…
  4. 3Q 2015 Investor Presentation – Gulfport Energy Corp. – slide 4
    Key Investment and Financial Highlights High quality, low cost assets allow Gulfport to grow production 115% to 125% over 2014, equating to 517 541 Mmcfepd Anticipated 2015 E&P capital budget of 667 677 million and leasehold budget of…
  5. 3Q 2015 Investor Presentation – Gulfport Energy Corp. – slide 5
    Gulfport 2015 Guidance Year Ending 12/31/2015 Forecasted Production S. Louisiana Leasehold 90.0 Average Daily Gas Equivalent Midpoint MMcfepd 517 541 19.0 % Gas 75% 85% % Liquids 25% 15% Utica Forecasted Realizations (before the…
  6. 3Q 2015 Investor Presentation – Gulfport Energy Corp. – slide 6
    3rd Quarter 2015 Highlights Total Production Production Mix Utica Production Growth 624.5 19% Gas MMcfe per day Increased 155% Liquids 457.6 Year-over-Year 396.0 353.4 81% Produced 647.1 MMcfe per day during 3Q2015…
  7. 3Q 2015 Investor Presentation – Gulfport Energy Corp. – slide 7
    Strong Growth Ahead Key Highlights Total Net Production Gulfports total production during 2014 grew 255% over 2013 647.1 700 Anticipate 2015 production to increase 115% to 125% over 529.0 (2) 2014 600 473.9 Gulfport…
  8. 3Q 2015 Investor Presentation – Gulfport Energy Corp. – slide 8
    Liquidity, Capitalization and Hedge Position Gas Hedges (1) Key Highlights 400 3.94 Strong liquidity and hedge position fund 2015 capital 350 4.00 3.46 3.47 3.35 3.37 program and provide certainty of cash flows 300 3.00…
  9. 3Q 2015 Investor Presentation – Gulfport Energy Corp. – slide 9
    Asset Overview 10WWW.GULFPORTENERGY.COM
  10. 3Q 2015 Investor Presentation – Gulfport Energy Corp. – slide 10
    Utica Shale Overview Gulfport Chesapeake CONSOL / Energy Buell 8H Hess Asset Overview Jade Pad Athens A 1H-24 Hess Net proved reserves of 907.0 Bcfe (1) Capstone 2H-29 Net probable reserves of 300.3 Bcfe (1) 247,000 net acres (2) Oil -…
  11. 3Q 2015 Investor Presentation – Gulfport Energy Corp. – slide 11
    Utica Shale Drilling and Completion Activity Net Wells Spud Non-Op 79 Dry Gas 11 Wet Gas Condensate 45 Number of Wells 40 5 32 4 19 18 28 17 16 10 3 2 5 3 5 13 4 8 12 12 3 3 6 3- 1Q'14 2Q'14 3Q'14 4Q'14 2014…
  12. 3Q 2015 Investor Presentation – Gulfport Energy Corp. – slide 12
    Utica Shale Type Curve Assumptions Condensate Wet Dry Gas Type Curve Assumptions (1) West East Gas West Central East Lateral Length 8,000 8,000 8,000 8,000 8,000 8,000 Well Cost (MM) 8.7 8.7 9.3 9.5 9.7 9.9 Well Cost ( per foot) 1,083…
  13. 3Q 2015 Investor Presentation – Gulfport Energy Corp. – slide 13
    Utica Shale Single Well Economics Utica Shale Economics and Inventory (1) 160% 141% 140% 138% 134% 120% 105% 98% 100% 102% 97% 80% 72% 66% 69% 60% 65% 43% 45% 37% 40% 41% 30% 37% 38% 19% 20% 14% 15% 17% 25% 14%…
  14. 3Q 2015 Investor Presentation – Gulfport Energy Corp. – slide 14
    Utica Shale Consistency of Reservoir B East West A A A 116 ft 118 ft A B South North LEGEND B B Gulfport Acreage Key Highlights Focused acreage position in the core of the play Consistency of the reservoir…
  15. 3Q 2015 Investor Presentation – Gulfport Energy Corp. – slide 15
    Utica Shale Diversified Portfolio Overview Rover Pipeline (North) Amount: 125,000 Dth/d DAWN Market: Midwest and Dawn MICHCON In-Service 1H2017 ANR Pipeline (North) NGPL Pipeline Amount: 250,000 Dth/d Amount: 20,000 Dth/d…
  16. 3Q 2015 Investor Presentation – Gulfport Energy Corp. – slide 16
    Utica Shale Firm Transportation and Sales Outlets Firm Commitments (MMBtu per day) Overview 1,400,000 YE2014 YE2015 YE2016 YE2017 + (MMBtu / day) 1,200,000 Firm Sales Midwest Markets Columbia (Gulf) November 2017 1,000,000 TETCO…
  17. 3Q 2015 Investor Presentation – Gulfport Energy Corp. – slide 17
    Utica Shale Transportation Improves Pricing Overview YE 2017 Secured Transport Commitments Early access to premium Midwest markets and was a 1,272,000 first-mover in securing early transport at low costs out of the basin 923,000…
  18. 3Q 2015 Investor Presentation – Gulfport Energy Corp. – slide 18
    Utica Shale NGL Infrastructure Key Highlights Edmonton Markets Gulfport anticipates to realize 0.32 to 0.37 per gallon for NGLS during 2015 Ontario Markets Mont Belvieu propane at lows not seen Midwest Markets Northeast…
  19. 3Q 2015 Investor Presentation – Gulfport Energy Corp. – slide 19
    Utica Shale Midstream Infrastructure Hopedale Fractionator Ohio Gathering & Ohio Condensate C3+ Fractionation I & II- 120,000 Bbl/d Operational Stabilization Facility 23,000 Bbl/d Operational C3+ Fractionation III - 60,000 Bbl/d…
  20. 3Q 2015 Investor Presentation – Gulfport Energy Corp. – slide 20
    Utica Shale Strategic Midstream Joint Venture Overview GPOR and RICE to form midstream JV to provide gas gathering, compression and water services to GPORs Eastern Belmont and Monroe acreage Approximately 165 miles of high and low…
  21. 3Q 2015 Investor Presentation – Gulfport Energy Corp. – slide 21
    Southern Louisiana Asset Overview (1) 2015 Planned Activities (3) Net proved reserves of 4.1 MMBoe Maintenance CAPEX: 18 20 million Net probable reserves of 8.1 MMBoe 11,002 net acres Gulfport operated 2015 Activities…
  22. 3Q 2015 Investor Presentation – Gulfport Energy Corp. – slide 22
    Utica Appendix 23WWW.GULFPORTENERGY.COM
  23. 3Q 2015 Investor Presentation – Gulfport Energy Corp. – slide 23
    Utica Shale Type Curve Assumptions Condensate Condensate Wet Dry Gas Dry Gas Dry Gas West East Gas West Central East Identified Net Locations 181 88 191 188 423 251 Type Curve Assumptions Lateral Length (ft.) 8,000 8,000 8,000…
  24. 3Q 2015 Investor Presentation – Gulfport Energy Corp. – slide 24
    Utica Shale Condensate Window Type Curves Condensate (1) Single Well Economics (1) Type Curve Assumptions West East 50% 45% Lateral Length 8,000 8,000 Well Cost (MM) 8.7 8.7 40% Well Cost ( per foot) 1,083 1,083 30% 38% 30%…
  25. 3Q 2015 Investor Presentation – Gulfport Energy Corp. – slide 25
    Utica Shale Wet Gas Window Type Curve Wet (1) Single Well Economics (1) Type Curve Assumptions Gas 98% Lateral Length 8,000 100% Well Cost (MM) 9.3 80% 66% Well Cost ( per foot) 1,164 60% 37% Total EUR (Bcfe / 1,000) 2.0…
  26. 3Q 2015 Investor Presentation – Gulfport Energy Corp. – slide 26
    Utica Shale Dry Gas Window Type Curves Dry Gas (1) Single Well Economics (1) Type Curve Assumptions West Central East 141% Lateral Length 8,000 8,000 8,000 140% 138% Well Cost (MM) 9.5 9.7 9.9 120% 105% 134% Well Cost ( per…
  27. 3Q 2015 Investor Presentation – Gulfport Energy Corp. – slide 27
    Additional Disclosures Net Undeveloped Locations (1) Condensate Condensate Wet Dry Gas Dry Gas Dry Gas West East Gas West Central East Net Undeveloped Location Summary Net Acres 26,491 14,264 38,064 34,123 77,552 43,429 Lateral…
  28. 3Q 2015 Investor Presentation – Gulfport Energy Corp. – slide 28
    Utica and SW Marcellus Proposed Pipeline Projects Overview Pipeline/Project Name From Area Direction Total Capacity (MMBtu/day) Start-Up Date Millennium Express Hancock Northeast Pennsylvania East 205 Apr-14 Tennessee SWLA - Phase 1…
  29. 3Q 2015 Investor Presentation – Gulfport Energy Corp. – slide 29
    LNG Exports Proposed Gulf Coast Projects Overview Nominal Capacity Nominal Capacity Project Name Sponsor FERC Status Development Status (MMtpa) (Bcf/d) Sabine Pass Cheniere 18 2.40 Approved Under construction Cameron Sempra 12 1.60…
  30. 3Q 2015 Investor Presentation – Gulfport Energy Corp. – slide 30
    Appendix 31WWW.GULFPORTENERGY.COM
  31. 3Q 2015 Investor Presentation – Gulfport Energy Corp. – slide 31
    Hedged Production Hedge Book (1) 4Q15 1Q16 2Q16 3Q16 4Q16 2015 2016 2017 2018 2018 Natural Gas Contract Summary: Natural Gas Fixed Price Swaps (NYMEX) Volume (BBtupd) 296 415 378 355 372 241 380 162 70 5 Weighted Average Price…
  32. 3Q 2015 Investor Presentation – Gulfport Energy Corp. – slide 32
    Financial and Operational Summary 2014 2015 3Q2015 Results 1Q2014 2Q2014 3Q2014 4Q2014 FY2014 1Q2015 2Q2015 3Q2015 YTD 2015 FY2015E Q-o-Q Y-o-Y Production Gas - Bcf 7.7 9.0 16.6 26.1 59.3 26.0 33.1 48.1 107.2 45% 191% Oil - MBbls…
  33. 3Q 2015 Investor Presentation – Gulfport Energy Corp. – slide 33
    2014 Proved Reserve Summary Net Reserves as of December 31, 2014 Oil Gas NGL Total PV-10 (MM) (MMBbls) (Bcf) (MMBbls) (Bcfe) SEC (1) Proved Developed Producing 3.5 344.1 12.4 439.4 1,154 Proved Developed Non-Producing 2.2 1.1 -…
  34. 3Q 2015 Investor Presentation – Gulfport Energy Corp. – slide 34
    Grizzly Oil Sands Gulfport has interest in a substantial position in the Canadian oil sands by way of a 24.9% interest in Grizzly Oil Sands ULC (Grizzly) Grizzly is effectively the last major private company in the oil sands without…

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