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March 2016 Investor Presentation – Gulfport Energy Corp.

Gulfport Energy Corp. · Mar 21, 2016 · 30 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. March 2016 Investor Presentation – Gulfport Energy Corp. – slide 1
    Investor Presentation March 2016
  2. March 2016 Investor Presentation – Gulfport Energy Corp. – slide 2
    Gulfport Today Key Statistics Primary Areas of Operation (5) Market Capitalization(1) 3.3 Billion Enterprise Value (2) 3.8 Billion Liquidity (3) 1.0 Billion Net Debt / TTM Adjusted EBITDA (4) 1.2x Utica Shale Acreage: 237,000 Net…
  3. March 2016 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. March 2016 Investor Presentation – Gulfport Energy Corp. – slide 4
    Key Investment and Financial Highlights High-quality asset base in the Utica will benefit from our solid hedge position and allow us to deliver not only year-over-year growth, but also exit-to-exit, leaving the Company well-positioned…
  5. March 2016 Investor Presentation – Gulfport Energy Corp. – slide 5
    Gulfport 2016 Guidance Year Ending 2016E Capital Expenditures (3) 12/31/2016 Forecasted Production Leasehold Average Daily Gas Equivalent MMcfepd 695 730 Midstream 62.5 32.5 % Gas 87% 91% % Liquids 13% 9% Forecasted Realizations…
  6. March 2016 Investor Presentation – Gulfport Energy Corp. – slide 6
    4th Quarter and Full Year 2015 Highlights Total Production Production Mix Proved Reserves Total Proved 17% Reserves (Bcfe) 1,705 Increased 69% Year-over-Year 934 Produced 83% 643.8 MMcfe per day Gas Liquids during 4Q2015…
  7. March 2016 Investor Presentation – Gulfport Energy Corp. – slide 7
    Operational Momentum Key Highlights 2016E Capital Expenditures (2) Gulfports 2015 capital expenditures totaled 747 million (1) 63 450 Anticipate 2016 budget of approximately 425 to 475 million, 500 33 a decrease of 36% to 43% over…
  8. March 2016 Investor Presentation – Gulfport Energy Corp. – slide 8
    Liquidity, Capitalization and Hedge Position Gas Hedges (1) Key Highlights 500 Strong liquidity and hedge position fund 2016 capital 450 4.00 program and provide certainty of cash flows 3.37 400 3.20 3.07 3.01 Pro Form liquidity…
  9. March 2016 Investor Presentation – Gulfport Energy Corp. – slide 9
    Utica Shale Overview Chesapeake CONSOL / Buell 8H Hess Asset Overview Athens A 1H-24 Hess Net proved reserves of 1.7 Tcfe (1) Capstone 2H-29 237,000 net acres (2) Oil - 5% Condensate - 15% Rice Energy Wet Gas - 15% Big Foot…
  10. March 2016 Investor Presentation – Gulfport Energy Corp. – slide 10
    Utica Shale Drilling and Completion Activity Net Wells Spud Non-Op Dry Gas Wet Gas 45 Condensate 6 23 26 14 14 3 11 2 8 1 6 2 20 10 1 13 4 7 7 2 3 2 1Q'15 2Q'15 3Q'15 4Q'15 2015 2016E (1) Net Wells…
  11. March 2016 Investor Presentation – Gulfport Energy Corp. – slide 11
    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)…
  12. March 2016 Investor Presentation – Gulfport Energy Corp. – slide 12
    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%…
  13. March 2016 Investor Presentation – Gulfport Energy Corp. – slide 13
    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…
  14. March 2016 Investor Presentation – Gulfport Energy Corp. – slide 14
    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…
  15. March 2016 Investor Presentation – Gulfport Energy Corp. – slide 15
    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…
  16. March 2016 Investor Presentation – Gulfport Energy Corp. – slide 16
    Utica Shale Overview of Realized Pricing Overview YE 2017 Secured Firm Commitments Early access to premium Midwest markets and was a 1,225,000 first-mover in securing early transport at low costs out of the basin 923,000 MMBtu…
  17. March 2016 Investor Presentation – Gulfport Energy Corp. – slide 17
    Utica Shale NGL Infrastructure Key Highlights Edmonton Markets Gulfport anticipates to realize 0.18 to 0.22 per gallon for NGLS during 2016 Ontario Markets Mont Belvieu propane at lows not seen Midwest Markets Northeast…
  18. March 2016 Investor Presentation – Gulfport Energy Corp. – slide 18
    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…
  19. March 2016 Investor Presentation – Gulfport Energy Corp. – slide 19
    Utica Shale Strategic Midstream Joint Venture Overview GPOR and RICE formed midstream JV, Strike Force Midstream LLC, to provide gas gathering, compression and water services to GPORs Eastern Belmont and Monroe acreage…
  20. March 2016 Investor Presentation – Gulfport Energy Corp. – slide 20
    Southern Louisiana Asset Overview (1) 2016 Planned Activities (3) Net proved reserves of 2.8 MMBoe Gulfport plans to run a maintenance capital program in Southern Louisiana during 2016 10,976 net acres Gulfport operated…
  21. March 2016 Investor Presentation – Gulfport Energy Corp. – slide 21
    Utica Shale Type Curve Assumptions Condensate Condensate Wet Dry Gas Dry Gas Dry Gas West East Gas West Central East Identified Net Locations 157 83 124 132 289 194 Type Curve Assumptions Lateral Length (ft.) 8,000 8,000 8,000…
  22. March 2016 Investor Presentation – Gulfport Energy Corp. – slide 22
    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%…
  23. March 2016 Investor Presentation – Gulfport Energy Corp. – slide 23
    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…
  24. March 2016 Investor Presentation – Gulfport Energy Corp. – slide 24
    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…
  25. March 2016 Investor Presentation – Gulfport Energy Corp. – slide 25
    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 23,109 13,568 35,394 33,527 74,415 44,746 Lateral…
  26. March 2016 Investor Presentation – Gulfport Energy Corp. – slide 26
    Northeast Pipeline Expansion List 1Q14 2Q14 3Q14 4Q14 1Q15 2Q15 3Q15 4Q15 1Q16 2Q16 3Q16 4Q16 1Q17 2Q17 3Q17 4Q17 1Q18 2Q18 3Q18 4Q18 NE Marcellus to Northeast Transco NE Connector Project 100 100 100 100 100 100 100 100 100 100 100…
  27. March 2016 Investor Presentation – Gulfport Energy Corp. – slide 27
    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…
  28. March 2016 Investor Presentation – Gulfport Energy Corp. – slide 28
    Hedged Production Hedge Book (1) 1Q16 2Q16 3Q16 4Q16 2016 2017 2018 2019 Natural Gas Contract Summary: Natural Gas Fixed Price Swaps (NYMEX) Volume (BBtupd) 464 530 537 540 518 347 160 5 Weighted Average Price (/MMBtu) 3.46 3.15…
  29. March 2016 Investor Presentation – Gulfport Energy Corp. – slide 29
    Financial and Operational Summary 4Q2015 2015 2014 2015 Results Reseults 1Q2014 2Q2014 3Q2014 4Q2014 FY2014 1Q2015 2Q2015 3Q2015 4Q2015 FY 2015 FY2016E Q-o-Q Y-o-Y Y-o-Y Production Gas - Bcf 7.7 9.0 16.6 26.1 59.3 26.0 33.1 48.1…
  30. March 2016 Investor Presentation – Gulfport Energy Corp. – slide 30
    2015 Proved Reserve Summary Net Reserves as of December 31, 2015 Gas Oil NGL Total PV-10 (MM) (Bcf) (MMBbls) (MMBbls) (Bcfe) SEC (1) Proved Developed Producing 571.1 4.4 12.9 674.7 546 Proved Developed Non-Producing 81.8 1.8 - 92.4…

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